New Revenue Pockets - Thick Film Resistor Market
Thick film resistor market is estimated 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 technological innovations in consumer electronic products, power efficient electrical products, and increasing demand for premium vehicles and safety & comfort features have resulted in the growth of the thick film & shunt resistor market.
With technological advancements in connectivity solutions, the need of real-time data has increased significantly, owing to falling subscriptions charges and rising infrastructure developments for 4G networks. This in turn boosts the demand for telecom equipment such as telecom towers, switches, routers, and private branch exchange (PBX) equipment. According to India Brand Equity Foundation (IBEF) statistics, India ranked second in terms of the number of telecommunication subscriptions. India’s mobile subscriber base is expected to reach 1,420 million by 2024 from 1,200 million in 2018, with 80% users having 4G connections. The demand for real-time data has grown tremendously in almost every industry. The trials on 5G networks would further have immense opportunity for the telecom sector. All these factors would ramp up the demand for telecom products which subsequently boost the thick film and shunt resistor market. Thus, system suppliers can focus on the telecommunication segment, especially in developing economies such as China, India, and Brazil, to gain new business ventures.
With increased focus on passenger and vehicle safety, the safety and security regulations are continuously studied and updated by various governments. For instance, the European Union (EU) has announced the eCall service mandate for all new passenger cars that will be produced after April 2018 in Europe. The Russian government mandated the emergency call service called ‘ERA-GLONASS’ for passenger cars in 2015. Such regulations would impel fitment of safety and comfort devices such as Advanced driver-assistance system (ADAS), infotainment & telematics, and advanced lighting applications which will also fuel the thick film and shunt resistor market in automotive industry.
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Electronic devices such as LED TV, refrigerators, set-top box, CCTV, smartphones, tablets, portables devices, storage devices, and routers have seen a major transformation in size and performance. Most of these devices have become compact and offer superior performance with high reliability and efficiency. Additionally, constant R&D efforts of global suppliers such as Vishay, Yageo, Koa, and Rohm would enable them to introduce advanced products and sustain their presence in thick film and shunt resistor market
The key factors responsible for the higher consumption in Asia are sustained economic growth, growing urbanization rate, rising number of smart city projects, and industrial expansion in the region. Countries such as China, India, South Korea, and Singapore have started the initial phase of development of smart cities, which include residential as well as commercial projects with projected plans for the next 10–15 years. All these factors have increased demand for electrical products such as power devices, energy meters, and lighting devices. Thus, the rising demand for high-performance electronic and electrical products will boost the growth of the thick film power and shunt resistor market
Rising demand for high performance electronic and electrical devices, increasing telecom infrastructure, rising demand for safety and comfort features, and growth in premium vehicle demand would enable global as well as regional manufacturers, such as Yageo, TE Connectivity, KOA Corporation, Panasonic, and Vishay, to gain business opportunities from existing as well as untapped markets for the thick film power & shunt resistors.
Related Reports:
Thick Film Resistor Market by Industry & Resistor Type (Automotive, Electrical & Electronics & Telecommunication), Resistor Type (Thick Film & Shunt), Vehicle Type (ICE, Electric & Hybrid Vehicles) and Region - Global Forecast to 2025
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