Resistor Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Resistor Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The resistor market has seen steady growth in recent years, driven by increased demand for consumer electronics, emergence of IoT devices, enhanced energy efficiency, and military and aerospace applications. The market is expected to grow from $10.18 billion in 2023 to $10.6 billion in 2024 at a CAGR of 4.2%. In the forecast period, the market is projected to grow to $12.3 billion in 2028 at a CAGR of 3.9%, fueled by increasing use in automotive HUDs, advancements in flexible electronics, integration with edge computing, healthcare industry adoption, and expanded applications in smart cities.

Key Market Drivers
The increasing demand for wearable devices is expected to drive the growth of the resistor market. Wearable devices, equipped with various sensors and often connected to smartphones, use resistors to enable precise control, miniaturization, and innovation in electronic devices. The number of wearable devices in use has been on the rise, reaching 600 million in 2021, 928 million in 2021, and 1100 million in 2022, according to the National Center for Biotechnology Information.

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Major Companies and Market Trends
Major players in the resistor market, such as Panasonic Corporation, Honeywell International Inc., and Walsin Technology Corporation, are focusing on developing innovative technologies like thin-film resistors to maintain high resistance stability. For example, Yageo Corporation launched the VT Series, an automotive-grade thin film chip resistor designed to meet the high stability and reliability requirements of automotive electronics and other industries. This series offers features such as high working voltage, superior resistance against sulfur-containing environments, and compliance with AEC-Q200 standards, making it suitable for various applications.

Market Segments
The resistor market is segmented by type into linear resistors and fixed resistors, by material into thin films and thick films, and by application into automotive, aerospace and defense, communications, consumer electronics and computing, and other end-user industries.

Regional Insights
Asia-Pacific was the largest region in the resistor market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the resistor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Access the complete report for an in-depth analysis of the global resistor market:
https://www.thebusinessresearchcompany.com/report/resistor-global-market-report

Resistor Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Resistor Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on resistor market size, resistor market drivers and trends, resistor market major players, competitors' revenues, market positioning, and market growth across geographies. The resistor market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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