Precision Resistor Market (Updated Version Available)

Precision Resistor Market Size, Share & Trends Analysis, By Type: (Metal Film Precision Resistors, Wire Wound Precision Resistors, Metal Foil Precision Resistors), Application (Test & Measurement Equipment, Medical Equipment, Semiconductors, Telecommunication, Industrial Automation, Military Equipment, and Others), By Region, Forecast Period 2022 - 2030

Report ID : RI_673732 | Date : February 2023 | Format : ms word ms Excel PPT PDF

This Report Includes The Most Up-To-Date Market Figures, Statistics & Data
Key Market Overview:

Precision Resistor Market is estimated to reach over USD 4.77 Billion by 2030 from a value of USD 2.88 Billion in 2022, growing at a CAGR of 6.5% from 2022 to 2030.

Precision resistors are a type of resistors that are designed to have a very precise resistance value. These types of resistors are typically used in applications where a higher degree of accuracy and stability is required, such as measurement and calibration, high-precision power supplies, and signal processing circuits. They are made using high-purity, low-tolerance materials, and are often constructed using thin-film or thick-film technologies.

Precision resistors come in various types such as Wirewound, Metal Foil, and others that are suitable for different applications. They are also available in various resistance values, tolerance, and temperature coefficients.

The precision resistor market is a subset of the overall resistor market and is likely to grow as demand for precision electronic devices and equipment increases. The market is driven by factors such as the growing adoption of IoT devices, the increasing use of precision electronic equipment in healthcare, and the growing adoption of precision electronic equipment in industrial automation.

Report AttributesReport Details
Study Timeline2016-2030
Market Size in 2030 (USD Billion)4.77 Billion
CAGR (2022-2030)6.5%
Base Year2021
By TypeMetal Film Precision Resistors, Wire Wound Precision Resistors, Metal Foil Precision Resistors, and Others
By ApplicationTest & Measurement Equipment, Medical Equipment, Semiconductors, Telecommunication, Industrial Automation, Military Equipment, and Others
By Geography
  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]

  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]

  • North America [United States, Canada, Mexico]

  • Middle East & Africa [GCC, North Africa, South Africa]

  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Key PlayersTE Connectivity, Bourns, Yageo, KOA Corporation, Panasonic, Stackpole Electronics, Caddock Electronics, Riedon, Ohmite, Welwyn Components, TT electronics, Vishay Intertechnology, Stackpole Electronics Inc


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    Market Dynamics:

    Driver:

    Internet of Things (IoT) devices require high-precision resistors for accurate measurement and control, and the growing adoption of IoT devices is driving the demand for precision resistors. The increasing use of precision electronic equipment in healthcare, such as medical imaging and diagnostic equipment, which require precise resistance values for accurate operation, also, fuels market growth. Moreover, the growing adoption of precision electronic equipment in industrial automation, such as robots and automation systems, which require precise resistance values for accurate control and measurement, also boosts the precision resistor market growth. Furthermore, advancements in technology such as the development of new materials and manufacturing techniques, which are leading to the production of more precise and stable resistors, also drive the market statistics.

    Restraint:

    Precision resistors are made using high-purity, low-tolerance materials and are often constructed using thin-film or thick-film technologies, which makes them more expensive as compared to standard resistors. In some applications, alternative technologies such as digital potentiometers or programmable resistors may be used in place of precision resistors, which hampers the growth of the market. Moreover, environmental concerns regarding these materials are anticipated to hamper the growth of the market as they contain toxic materials. In addition, disposal of these materials is also a concern and may require special disposal methodologies.

    Opportunities:

    The growth of electric vehicles (EV) is anticipated to create lucrative opportunities for market growth. This is attributed to the fact that electric vehicles (EV) require high-precision resistors for accurate control and measurement of battery charging and discharging, which could drive demand for precision resistors. In addition, the growth of 5G networks and IoT devices will increase the demand for precision resistors as these technologies require high-precision resistors for accurate measurement and control

    Precision Resistor Market Segmentation:



    By Types

    The precision resistor market can be segmented by type, metal film precision resistors, wirewound precision resistors, metal foil precision resistors, and others. Wirewound precision resistors segment is expected to contribute a dominant share in terms of market volume. They are made by winding a wire, such as nickel-chromium alloy, around a core. These resistors have high power handling capabilities and are suitable for high-power applications. Such resistors have high-temperature stability, and good power dissipation and are widely used in various applications such as power supplies, high-voltage circuits, and others.
    Further, the metal foil precision resistor segment is also estimated to contribute substantial shares in the market growth. They are made by depositing a thin layer of metal, such as nickel-chromium alloy, onto a ceramic core. These resistors have high stability and low noise characteristics and are suitable for precision applications. Also, metal film precision resistors are popular in circuits where stability, precision, and low noise are important. They are used in applications such as audio equipment, measuring instruments, and industrial controls.

    By Application

    The application segment is separated into test & measurement equipment, medical equipment, semiconductors, telecommunication, industrial automation, and others. The semiconductor holds the largest share of the precision resistor market in terms of revenue. Precision resistors are widely used in semiconductor applications for various purposes such as current sensing, voltage dividing, and biasing. The precision of the resistors is crucial in semiconductor applications as it determines the accuracy and stability of the circuit. For instance, in power management systems of a microcontroller, precision resistors are used to measure the current flowing through the power supply rail to the microcontroller. By measuring the current, the microcontroller can adjust the power supply voltage to optimize the performance of the circuit.

    Moreover, the Telecommunications segment is also projected to hold a substantial share in the market. The precision resistors are used in various telecommunications equipment such as mobile phones, satellite communications, and networking equipment. For instance, precision resistors are used in mobile phones to measure the battery voltage and power management, in satellite communications as a part of the RF front-end module.

    Furthermore, these systems find a wide variety of applications in industrial automation owing to which this segment is also estimated to contribute to the precision resistor market growth. They are used in temperature measurement, as a component of temperature sensors. These sensors can be used in industrial automation systems to measure temperature in various environments, such as in industrial ovens, HVAC systems, and semiconductor manufacturing equipment.

    By Region

    On the basis of regional segment, the market is classified into Asia Pacific, Europe, Middle East and Africa, North America, and Latin America. North America is expected to hold a significant share of the precision resistor market due to the presence of a large number of manufacturing industries and the high adoption of precision resistors in the automotive, aerospace and defense, and healthcare industries.



    Moreover, Asia Pacific is expected to be the fastest-growing market for precision resistors due to the presence of a large number of manufacturing industries and the increasing adoption of precision resistors in the consumer electronics, automotive, and healthcare industries. China and Japan are the major markets in the Asia Pacific region.

    Precision Resistor Market Competitive Landscape:

    The market research report published on the precision resistor market offers an inclusive analysis of macroeconomic statistics such as market dynamics, segmental analysis, SWOT analysis, and others. In terms of market players, the data is related to business collaborations, mergers and acquisitions, product innovations, and strategies adopted by competitors. These factors are examined to offer an insightful understanding of current market circumstances. Following are the major market players that comprise the latest market concentration–

    • TE Connectivity
    • Bourns
    • Yageo
    • KOA Corporation
    • Panasonic
    • Stackpole Electronics
    • Caddock Electronics
    • Riedon
    • Ohmite
    • Welwyn Components
    • TT electronics
    • Vishay Intertechnology

    Recent Developments:

    • In September 2022, U.K. based global manufacturer of electronic components and provider of manufacturing services, TT Electronics unveiled the release of the series thin film, TFHP, which are high-power chip resistors. The firm offers high power and high precision in a single resistor which is capitalized on an aluminum nitride ceramic substrate containing up to 6 times the conductivity of the compound alumina. This component can boost reliability by limiting the temperature increase in the module hotspot.

    • The Pennsylvania-based semiconductor manufacturing company, Vishay Intertechnology has recently launched a thin-film wraparound chip resistor that offers new high precision for various applications in military & aerospace, and industrial sectors. Along with offering the widest resistance value range in the market, it provides the highest power ratings. This resistor is available in 4 different sizes ranging from 0402 to 1206 case size.
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