Resistor Global Market Report 2024

The resistor market size has grown steadily in recent years. It will grow from $10.18 billion in 2023 to $10.6 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The historic growth in the sensor market can be attributed to several factors, including increased demand for consumer electronics, the emergence of IoT devices, enhanced energy efficiency requirements, applications in military and aerospace sectors, and growing interest in augmented reality (AR) technologies.

The resistor market size is expected to see steady growth in the next few years. It will grow to $12.3 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The forecasted growth can be attributed to several factors, including increasing use in automotive heads-up displays (HUDs), advancements in flexible electronics, integration with edge computing, adoption in the healthcare industry, and expanded applications in smart cities. Major trends in the forecast period include the development of biodegradable transparent electronics, integration with AI and machine learning, the rise of augmented reality applications, integration with blockchain technology, and a focus on transparent batteries.

The increasing demand for wearable devices is expected to drive the growth of the resistor market. Wearable devices, which are electronic devices worn on the body as accessories, are equipped with various sensors and often connect to smartphones or other devices to provide information or perform functions. Resistors play a crucial role in wearable devices by providing essential components that enable precise control, miniaturization, and innovation in electronic devices. For example, the National Center for Biotechnology Information reported that the number of wearable devices in use was approximately 600 million in 2021, increasing to 928 million in 2021 and 1.1 billion in 2022. This growing demand for wearable devices is a key driver behind the growth of the resistor market.

Major companies in the resistor market are focusing on developing innovative technologies, such as thin-film resistors, to maintain high resistance stability. Thin-film technology involves the development of very thin layers of material, typically ranging from a nanometer to a few micrometers in thickness. For example, in October 2022, Yageo Corporation launched the VT Series, an automotive-grade thin film chip resistor. This resistor is designed to meet the high stability and reliability requirements of automotive electronics, telecommunications, industrial or medical equipment, measuring equipment, and power systems. It features high working voltage, superior resistance against sulfur-containing environments, and compliance with AEC-Q200 standards. The VT Series includes resistors with high precision, stability, and a wide range of resistance values, making them suitable for various applications.

In May 2021, Electro Technik Industries Inc., a US-based manufacturer of passive electronic components, acquired Precision Resistor Company Inc. for an undisclosed sum. This acquisition has bolstered ETI's position in the resistor market by expanding its product range and capabilities. It has enabled ETI to consolidate its presence in the resistor market and offer a more comprehensive portfolio of resistor products. Precision Resistor Company Inc. specializes in manufacturing custom precision fixed wire wound resistors, wire wound sensors, and wire wound shunts for critical applications.

Major companies operating in the resistor market report are Panasonic Corporation, Honeywell International Inc., Walsin Technology Corporation, TE Connectivity, Murata Manufacturing, OKAYA Electric Industries Co. Ltd., Samsung Electro-Mechanics, Rohm Co. Ltd., Yageo Corporation, Vishay Intertechnology, Bourns Inc., AVX Corporation, CTS Corporation, Ohmite Manufacturing Company, Viking Tech Corporation, Susumu Co. Ltd., Stackpole Electronics Inc., Cyntec Electronics, Caddock Electronics Inc., Cressall Resistors, Arcol, HVR Pentagon, KOA Corporation, Shenzhen Sunlord Electronics Co. Ltd.

Asia-Pacific was the largest region in the resistor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the resistor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the resistor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A resistor is a passive electrical component that introduces resistance into an electric circuit, regulating the flow of current. It is a crucial element in electronic design, found in a wide range of electronic devices and systems, used to manage or limit the amount of electrical current passing through a circuit.

Resistors can be classified into two main types include linear resistors and fixed resistors. Linear resistors exhibit a linear relationship between the voltage applied across their terminals and the current passing through them. They are manufactured using thin films and thick films and are utilized in various industries such as automotive, aerospace and defense, communications, consumer electronics and computing, among others.

The resistor market research report is one of a series of new reports that provides resistor market statistics, including resistor industry global market size, regional shares, competitors with a resistor market share, detailed resistor market segments, market trends and opportunities, and any further data you may need to thrive in the resistor industry. This resistor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The resistor market consists of sales of carbon composition resistors, variable resistors, light-dependent resistors, thermocouples, network resistors, and surface mount resistors. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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