According to the recent study the precision resistor market is projected to reach an estimated $5.0 billion by 2028 from $3.9 billion in 2023, at a CAGR of 5.2% from 2023 to 2028. Growth in this market is primarily driven by growing application of precision resistors in various end use industries, such as automotive, aerospace, and healthcare, increasing trend of miniaturization of electronic device and rising research and development activities for technological advancement of highly advanced precision resistors.
A more than 150 – page report is developed to understand trends, opportunities and forecast in precision resistor market by type (precision wire wound resistors, precision metal film resistors, and precision metal foil resistors), application (test & measurement equipment, medical equipment, semiconductors, telecommunications, industrial automation, and others [automotive and others]), and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Precision metal film resistors market is expected to remain the largest segment during the forecast period.”
Based on type, the precision resistor market is segmented into precision wire wound resistors, precision metal film resistors, and precision metal foil resistors. Lucintel forecasts that the precision metal film resistors market is expected to remain the largest segment due to its increasing application in the communication equipment, medical electronic equipment, and automotive electronic industries.
“Within the precision resistor market, the semiconductors segment is expected to remain the largest application”
Based on application the semiconductors segment is expected to witness the highest growth over the forecast period due to increasing demand for electronic devices, rising penetration of cloud computing and internet of things (IoT), and growing adoption of technological advanced products like AI across the globe.
“Asia pacific will dominate the precision resistor market in near future”
APAC will remain the fastest growing region over the forecast period due to increasing adoption of this resistor in the automotive as well as aerospace industries and presence of major consumer electronics manufacturers in the region.
Major players of precision resistor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. TDK Corporation, Murata Manufacturing, YAGEO Group, Vishay Intertechnology, Samsung Electro-Mechanics, TE Connectivity, KYOCERA AVX Components, OMRON Precision, Panasonic, and Cyntec are among the major precision resistor providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]