The Thick Film Resistor Market is projected to grow at a CAGR of 5.06% during the forecast period, to reach a market size of USD 615 million by 2025 from USD 435 million in 2018. Factors such as increasing adoption of advanced technologies in automotive industry, increasing adoption of 4G/5G networks, and rising demand for high-performance electronic and electrical systems are expected to fuel the demand for thick film power & shunt resistors.
Asia Oceania: The largest region for thick film power& shunt resistor market for automotive industry
The Asia Oceania region is expected to be the largest market for the thick film & shunt resistors. This region has emerged as a huge business opportunity for almost every industry. For instance, Asia Oceania held maximum share, in terms of vehicle production with around 54–56% of the global vehicle production in 2018. The factors driving the automotive market are the improving lifestyle, an increasing number of metro cities, and a steadily growing population. Limited infrastructure and increasing number of road accidents have resulted in the vehicle and road safety regulation for the installation of ADAS in vehicles in countries such as China, South Korea, and Japan. As per the insights from key industry experts, increase in industrial automation, vehicle electrification, and trend for compact electronic devices are the major reason driving the thick film power& shunt resistor market in Asia Oceania.
Additionally, the rising urbanization and upcoming smart city projects, especially in China and India, have boosted the growth of the electrical & electronics industry. This region is also projected to grow at the fastest rate owing to the continuously increasing telecom subscriber base. According to the Walsin Technology Corporation investor presentation (2018), the number of 5G connections in China and other Asia Pacific countries is expected to cross 1.5 billion by 2025. Rising e-commerce activities and increasing awareness for the benefits of real-time data are prompting the telecom providers to enhance the efficiency of their network offering, which will require more sophisticated equipment. With the increasing demand for this equipment, the market for thick film power & shunt resistors for the telecommunication industry will grow.
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Thick Film Resistor is estimated to hold the largest share in the market, by resistor type
Thick film power resistor is estimated to hold the largest market share in 2018. The factors driving this market are the rising demand for electronic circuits in passenger cars and commercial vehicles, consumer electronics goods, and telecommunications. Rising sales of electric and hybrid vehicles due to government regulations and incentives/tax exemptions have prompted OEMs to install more electronic devices in vehicles. Further, robust technological advancements have increased the demand for consumer electronic products such as smartphones, computers, laptops, digital, tablets, and printers, and smart televisions. Furthermore, increasing telecom subscription base and increasing internet services usage owing to reduced subscription cost have driven the demand for telecom equipment installed with thick film resistors. All these factors are expected to strengthen the thick film resistors market in the future.
Electrical & Electronics industry is estimated to be the fastest growing segment in thick film resistor market
The electrical & electronic industry is expected to be the highest growing market for thick film and shunt resistor during the forecast period. These resistors are used in consumer electronics, computer electronics and peripherals, mobiles & tablets, LED lighting, energy meters, and back-up power devices among others. As the demand for the consumer electronics has increased, the demand for the thick film power & shunt resistor is growing since electronic circuitry are fitted with these types of resistors. Also, with rising industrial automation and the growing demand for compact and efficient electronic devices, the demand for thick film and shunt resistors in the electrical & electronic industry would grow in coming years.
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Key Market Players:
Some prominent players in the thick film resistor market are Yageo (Taiwan), KOA Corporation (Japan), Panasonic (Japan), Vishay (US), ROHM Semiconductor (Japan), TE Connectivity (Switzerland), Bourns (US), Viking Tech Corporation (Taiwan), TT Electronics (UK).
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