IMARC Group, a leading market research company, has recently releases report titled “Electrical Resistor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global electrical resistor market size reached US$ 6.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during 2024-2032.
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Factors Affecting the Growth of the Electrical Resistor Industry:
- Technological Advancements:
Innovations, such as surface-mount resistors, are smaller and more efficient, which is contributing to the growth of the market. In line with this, precision resistors cater to industries where accuracy is crucial, like aerospace and medical. These advancements not only enhance the performance of electronic products but also contribute to energy efficiency and cost-effectiveness. Furthermore, advancements in materials and manufacturing techniques assist in the development of resistors that are capable of handling higher frequencies and power levels. Furthermore, the rising development of new resistor materials, such as metal alloy and carbon film, to enhance the overall performance and longevity of resistors is impelling the market growth.
- Rising Adoption of Electronic Items:
The increasing adoption of electrical resistors in electronic items is supporting the market growth. Apart from this, consumer electronics, automotive electronics, and industrial automation all rely on resistors for safer operation. In addition, the rising utilization of the Internet of Things (IoT) devices among individuals across the globe is propelling the growth of the market. Furthermore, manufacturers are developing smaller and more precise resistors to meet the requirements of miniaturized electronics without compromising performance. Moreover, various electronic items, such as medical devices, measurement instruments, and communication equipment, require precise and accurate control of electrical signals.
- Energy Efficiency Regulations:
The increasing focus on energy efficiency is contributing to the growth of the market. In line with this, electrical resistors play a critical role in energy-saving applications, such as light-emitting diode (LED) lighting and power electronics. To meet these regulations, industries are adopting more efficient resistor technologies. Furthermore, the rising demand for resistors that help reduce energy consumption is bolstering the market growth. In addition, electric resistors are crucial for controlling and optimizing power consumption within electronic devices, ensuring they meet energy efficiency standards and regulations.
Leading Companies Operating in the Global Electrical Resistor Industry:
- Bourns Inc.
- Cressall Resistors Ltd.
- Japan Resistor Mfg. Co. Ltd.
- KOA Speer Electronics Inc. (KOA Corporation)
- Murata Manufacturing Co. Ltd.
- TE Connectivity
- Viking Tech Corporation
- Vishay Intertechnology Inc.
- YAGEO Group
- Zonkas Electronic Co. Ltd., etc.
Electrical Resistor Market Report Segmentation:
By Product:
- Fixed Resistor
- Variable Resistor
Variable resistor represents the largest segment as it provides a controllable and adjustable resistance level.
By Application:
- Electric Motor
- Driver
- Inverter
- Others
Electric motor holds the biggest market share on account of their ability to convert electrical energy into mechanical motion efficiently.
By Industry Vertical:
- Consumer Electronics
- IT and Telecommunication
- Automotive
- Industrial
- Healthcare
- Others
Consumer electronics account for the largest market share due to the rising adoption of a wide range of devices, such as smartphones, laptops, televisions, and gaming consoles.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys a leading position in the electrical resistor market, which can be attributed to the presence of key manufacturing hubs.
Global Electrical Resistor Market Trends:
The increasing demand for electrical resistors due to rapid automation of manufacturing processes is impelling the market growth. In line with this, robots, sensors, and programmable logic controllers (PLCs) rely on resistors for precise control. Furthermore, various industries are focusing on enhancing productivity and efficiency through automation.
Besides this, the expansion of renewable energy sources, such as solar and wind power, is bolstering the market growth. In addition, the growing demand for resistors in power conversion and distribution systems is offering a positive market outlook.
Other Key Points Covered in the Report:
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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