Precision Resistor Market Expected to Witness a Sustainable Growth over 2029

In 2021, the size of the world precision resistors market was estimated at USD 4.16 billion. With a CAGR of 5.7% from 2022 to 2029, the market is anticipated to grow from USD 4.35 billion in 2022 to USD 6.40 billion by 2029. Their increasing popularity can be due to their long-term stability, high criteria for resistance accuracy, and extended load lives.

This data is provided in the research report "Precision Resistor Market Forecast, 2022-2029" by Fortune Business InsightsTM.

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Industry Growth Is Affected by Supply Chain and Semiconductor Materials Disruptions

The sales of semiconductor materials were impacted by the supply chain disruptions brought on by the coronavirus epidemic. The impact on the automotive and industrial electronic equipment sectors had an impact on market growth. Nevertheless, the industry is anticipated to have significant growth as a result of the growing demand in the automotive and electronics sectors.

Key players Precision Resistor Market  Expected are:

·         Murata Manufacturing Co., Ltd. (Japan)

·         TDK Corporation (Italy)

·         Samsung Electro-Mechanics (Korea)

·         YAGEO Group. (Taiwan)

·         KYOCERA AVX Components Corporation (Japan)

·         Vishay Intertechnology, Inc. (U.S.)

·         TE Connectivity (Switzerland)

·         OMRON Corporation (Japan)

·         Vishay Precision Group, Inc. (U.S)

 

Drivers and Restraints:

Market Value to Rise Due to Increased Consumer Electronics Use

The rising use of consumer electronics, data services, and increased digitalization are driving the growth of the precision resistor industry. This is further encouraged by the increasing global need for 5G and the rising demand for better network equipment and infrastructure.

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Segments:

 

Due to the advantages of electrical resistance, the market for metal film resistors will see significant growth.

The market is divided into precision metal film resistors, precision metal foil resistors, and precision wire wrapped resistors based on type. Of these, it is anticipated that the precision metal film resistors segment will expand significantly throughout the forecast period. This is as a result of the electrical resistance that the resistors offer.

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