Chip Resistor Market Opportunities and Strategies to 2033

This report describes and explains the chip resistor market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global chip resistor market reached a value of nearly $1.35 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.81% since 2018. The market is expected to grow from $1.35 billion in 2023 to $1.88 billion in 2028 at a rate of 6.85%. The market is then expected to grow at a CAGR of 7.35% from 2028 and reach $2.68 billion in 2033.

Growth in the historic period resulted from the increasing demand for consumer electronics, increasing use of electric vehicles (EVs), growth of automotive electronics and supporting government initiatives. Factors that negatively affected growth in the historic period was decline in global manufacturing production growth.

Going forward, surge in industrial automation, growth of internet of things (IoT) devices, rising adoption of 5G technology, growing adoption of smart home products and expanding data center infrastructure will drive the growth. Factor that could hinder the growth of the chip resistor market in the future include restrictions on free trade.

The chip resistor market is segmented by type into pressure-sensitive, thermosensitive and other types. The pressure-sensitive market was the largest segment of the chip resistor market segmented by type, accounting for 54.61% or $739.05 million of the total in 2023. Going forward, the pressure-sensitive segment is expected to be the fastest growing segment in the chip resistor market segmented by type, at a CAGR of 7.23% during 2023-2028.

The chip resistor market is segmented by technology into thick chip resistor and thin chip resistor. The thick chip resistor market was the largest segment of the chip resistor market segmented by technology, accounting for 63.88% or $864.57 million of the total in 2023. Going forward, the thick chip resistor segment is expected to be the fastest growing segment in the chip resistor market segmented by technology, at a CAGR of 7.10% during 2023-2028.

The chip resistor market is segmented by end-use industry into consumer electronics, information technology and telecommunications, automotive and transportation, industrial, healthcare, aerospace and defense, energy and utility and other end-use industries. The consumer electronics market was the largest segment of the chip resistor market segmented by end-use industry, accounting for 27.76% or $375.72 million of the total in 2023. Going forward, the automotive and transportation segment is expected to be the fastest growing segment in the chip resistor market segmented by end-use industry, at a CAGR of 8.07% during 2023-2028.

The chip resistor market is segmented by material into silver, palladium, cupronickel and other materials. The silver market was the largest segment of the chip resistor market segmented by material, accounting for 36.59% or $495.15 million of the total in 2023. Going forward, the cupronickel segment is expected to be the fastest growing segment in the chip resistor market segmented by material, at a CAGR of 7.57% during 2023-2028.

The chip resistor market is segmented by operating voltage into up to 50V, 51V to 200V, 201V to 400V and above 400V. The up to 50V market was the largest segment of the chip resistor market segmented by operating voltage, accounting for 50.20% or $679.37 million of the total in 2023. Going forward, the up to 50V segment is expected to be the fastest growing segment in the chip resistor market segmented by operating voltage, at a CAGR of 6.95% during 2023-2028.

Asia Pacific was the largest region in the chip resistor market, accounting for 42.36% or $573.3 million of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the chip resistor market will be Asia Pacific and Western Europe where growth will be at CAGRs of 7.51% and 6.93% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 6.63% and 5.84% respectively.

The global chip resistor market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 53.02% of the total market in 2023. Yageo Corporation was the largest competitor with a 16.02% share of the market, followed by Walsin Technology Corporation with 15.59%, F KOA Corporation with 4.75%, ROHM Semiconductor Co. Ltd. with 3.55%, Panasonic Corporation with 3.32%, Vishay Intertechnology, Inc. with 3.12X%, Samsung Electro-Mechanics Co. Ltd. with 2.53%, Murata Manufacturing Co. Ltd. with 1.72%, I Kyocera AVX Corporation with 1.29% and Hokuriku Electric Industry Co. Ltd. with 1.13%.

The top opportunities in the chip resistor market segmented by type will arise in the pressure-sensitive segment, which will gain $308.65 million of global annual sales by 2028. The top opportunities in the chip resistor market segmented by technology will arise in the thick chip resistors segment, which will gain $353.98 million of global annual sales by 2028. The top opportunities in the chip resistor market segmented by end-use industry will arise in the consumer electronics segment, which will gain $165.74 million of global annual sales by 2028. The top opportunities in the chip resistor market segmented by material will arise in the silver segment, which will gain $197.77 million of global annual sales by 2028. The top opportunities in the chip resistor market segmented by operating voltage will arise in the up to 50V segment, which will gain $271.23 7 million of global annual sales by 2028. The chip resistor market size will gain the most in China at $141.04 million.

Market-trend-based strategies for chip resistor market include focus on the development of thin film technology to produce more efficient products, focus on the development of advanced high-voltage resistors to ensure the accuracy, stability and safety of testing equipment and focus on adopting advanced technologies such as high-power density chip resistors to meet the needs of power management.

Player-adopted strategies in the chip resistor market include focus on new product launches to handle high operating voltages in automotive electronics, telecommunications, industrial and medical devices and power systems and investments to produce various product meeting the company’s target.

To take advantage of the opportunities, the analyst recommends the chip resistor companies to focus on developing thin film resistor technology, focus on developing high-voltage resistors, focus on advancing power management solutions, focus on pressure-sensitive market segment, focus on thick chip resistors market segment, focus on cupronickel market segment, focus on up to 50V market segment, expand in emerging markets, focus on expanding distribution channels, focus on competitive pricing strategies, focus on targeted digital marketing, focus on customized promotions for key customers and focus on automotive and transportation market segment.