Chip Resistor Market: By Technology (Thick Film, Thin Film,  Others) by End-Use (Consumer Electronics, Industrial, Automotive and Transportation, Telecommunication, Aerospace and Defense, Others) and Geography                          

Chip Resistor Market is estimated to be valued at USD 1,498.3 Million in 2021 and is poised to grow at a significant CAGR of 6.2% over 2022-2028. Chip resistors can restrict DC or AC, which is used to lower the voltage or maintain the current at a specified dimension inside an electronic circuit. Resistors might have a set resistance value or be variable or changeable within a defined range. They can be used to safeguard, power, or regulate circuits. Chip resistors are used in various sectors, including consumer electronics, industrial manufacturing, automotive and transportation, medical, communications, aerospace, and defense. Chip resistors are well-suited for usage in the telecommunications, automotive, and consumer electronics sectors, such as radio and tape recorders, TV tuners, video cameras, watches, and pocket calculators where they may be used in DC-to-DC conversion, AC adaptors, and so on. Based on technology, the global chip resistor market has been segmented into thick film, thin film, and others into which the thick film segment is anticipated to grow in the forecasting period owing to this thick film resistor segment is driven by the growing vehicle industry, consumer electronics, and telecommunications equipment. Rising IC and electric and hybrid vehicle sales, as well as regulatory mandates to increase fuel efficiency and safety regulations, have prompted OEMs to install more electrical and electronic components, propelling the automotive industry. Furthermore, significant technological advancements in electronic products and the growing use of fast networks (4G/5G networks) throughout the world have raised the demand for things such as thick film power resistors. These factors are expected to fuel the broad film resistor segment in the future years. The rising digitization of many sectors throughout the world is driving the chip resistor market expansion. Sensors, data capture, robots, processing power, and connection advancements enable firms to make meaningful improvements to improve production, service, and supply chains. Furthermore, the growing use of electronics in vehicles is fueling the growth of the chip resistors industry. In addition, the expansion of data centre infrastructure is driving demand for chip resistors. The variable pricing of raw materials, on the other hand, poses a challenge to the chip resistor business.

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