Increasing demand for consumer electronics, faster internet connectivity requirement, growing demand for comfort & luxury features are expected to fuel the demand for the thick film resistor market
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. Market growth can be attributed to factors such as increasing demand for high performance electronics and electrical products, rising high speed data requirements, stringency in passenger safety norms, and growing comfort and convenience requirements. On the other hand, overall fall of commodity devices and reduced manufacturers profit margins are few concerns of this market.
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Automotive segment is estimated to be the largest market for thick film resistor, by end-use industry, during the forecast period
Even though the electrical and electronics industry lead the overall resistor market, in case of thick film and shunt resistor, automotive segment is set to the lead the market. This is because of the usage of these resistors in various application such as advanced driver assistance systems (ADAS), body electronics & lighting, powertrain, infotainment & telematics, and electric and hybrid vehicles. The demand for these applications is driven by two factors?vehicular safety & fuel economy norms and shifting inclination towards comfort features. Europe and North America have rigorous regulations due to which the installation of safety regulations become mandatory. Also, the demand for premium vehicles, which have high-end safety and comfort features such as electronic stability control (ESC), adaptive cruise control, and adaptive headlights, is also higher in these regions. Additionally, commercial vehicles segment is gradually adopting these features, especially in Asia Oceania. All of these factors would impel the OEMs to install more electronic circuits in vehicles, which will subsequently spur the demand for thick film and shunt resistors in automotive segment
Shunt resistor is projected to be the fastest growing thick film resistor, by type, during the forecast period
Shunt resistor is projected to be one of the fastest growing market during the period 2018–2025. Electrical products such as energy meters, smart meters, LED controls, battery chargers, and industrial machinery are some electrical devices where shunt resistors are widely required to measure the current flow. Global manufacturers are expanding their manufacturing capability towards the developing nations due to low labor wages along with attractive tax exemptions. This would drive the power requirement, and to support it, the demand for electrical products will also grow. As shunt resistors provide higher reliability, accuracy, and performance while measuring the current flow, these would be an appropriate component to satisfy the requirement.
Europe and Asia Oceania? The largest and the fastest growing thick film resistor markets, respectively
Europe is estimated to be the prominent market for thick film and shunt resistor owing to the inclination towards technological innovations, increasing R&D investments by big companies, higher purchasing power, and high demand for environment-friendly and energy-efficient products. Thick film and shunt resistors are widely used in several applications including automotive, power, consumer electronics, and industrial which have shown promising growth in recent years mainly in Germany, France, Italy, and UK. Further, major telecom giants in Europe such as Vodafone, Deutsche Telekom, Telef?nica, and Orange are increasing their investment on 5G trials, which will prompt the demand of telecom and base station equipment. The growth of electronics and electrical products in automotive, industrial, and telecom sectors would also drive the thick film and shunt resistor market in this region
Asia Oceania region is anticipated to be the fastest growing market for thick film and shunt resistor during the forecast period.
Increasing urbanization, rising disposable income, foreign direct investment (FDI) policies, and growing ecommerce activities are expected to drive the demand in this region. China, Japan, South Korea, and India are the main consumers of electronic and automotive products. According to India Brand Equity Foundation (IBEF) statistics, India became the world largest telecommunications market with ~1.20 billion subscribers, as of December 2018. Also, smart city and infrastructural development programs are driving the market growth in Asian countries. Most of the regional resistor manufacturers such as Yageo, Panasonic, Rohm, and Koa Corporation are catering to the thick film and shunt resistor demand in Asia countries. The growth in these markets would parallelly impel the thick film and shunt resistor market
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from equipment manufacturers, OEMs, and Tier-1 suppliers to regional associations members.
The break-up of the primaries is as follows:
- By Company Type – Tier-2–69%, Tier-2 - 21% - OEM–10%,
- By Designation: C level–45%, D Level–39%, Others–16%
- By Region: North America – 48%, Europe–29%, and Asia Oceania–23%
The report provides detailed profiles of the following companies:
- Yageo (Taiwan)
- KOA Corporation (Japan)
- Panasonic (Japan)
- Vishay (US)
- ROHM Semiconductor (Japan)
- TE Connectivity (Switzerland)
- Murata (Japan)
- Bourns (US)
- TT Electronics (UK)
- Viking Tech Corporation (Taiwan)
The primary objective of the study is to define, describe, and forecast the thick film resistor market in terms of end-use industry (electrical & electronics, telecommunication, and automotive). The thick film resistor market is further segmented by resistor type (thick film power resistor and shunt resistor); electrical & electronics industry, by resistor type (thick film resistor and shunt resistor); telecommunication industry, by resistor type (thick film resistor and shunt resistor); automotive industry, by resistor type (thick film resistor and shunt resistor); automotive industry, by vehicle type (passenger car and commercial vehicle); automotive industry, by electric/hybrid vehicle type (BEV, HEV, and PHEV). Also, thick film power & shunt resistor market for automotive industry is segmented by region?Asia Oceania, Europe, the Americas, and RoW. It tracks and analyzes competitive developments such as market ranking analysis, expansions, joint ventures, acquisitions, and other activities carried out by key industry participants.
Reasons for buying the report
- The study provides qualitative and quantitative analysis of the thick film resistor market for automotive industry, by vehicle type, in volume (Million Units) and value (USD million), at country and regional level.
- The study provides qualitative and quantitative analysis of thick film resistor market, by industry and resistor type in terms of value (USD million), at the regional level. The study also analyzes the thick film resistor market for electric & hybrid vehicle, by vehicle type, in terms of volume (’000 units) and value (USD million), at the regional level.
- The study includes the profiles of the 10 key companies and additional 10 companies, which have a significant impact on the market, along with their financial structure, recent developments, and product portfolio.
- The report covers the competitive landscape, which reflects the market ranking analysis of leading players along with the dominant strategy adopted by these stakeholders to retain their position.