Market Size of Thick Film Resistor Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.72 Billion |
| Market Size (2029) | USD 0.92 Billion |
| CAGR (2024 - 2029) | 5.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thick Film Resistor Market Analysis
The Thick Film Resistor Market size is estimated at USD 0.72 billion in 2024, and is expected to reach USD 0.92 billion by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).
One of the primary factors driving the Thick Film Resistor Market is that resistor manufacturers are extensively investing in research & development to improve the efficiency of thick film resistors.
- Another factor driving the Thick Film Resistor Market is the rapid rise of the consumer electronics and automotive markets. Thick film resistors are one of the most common main components found in automotive and consumer electronics applications. The global Thick Film Resistor Market is expected to grow further as consumer spending and global investment increase.
- Rising IC, electric, and hybrid vehicle sales, as well as government regulations to improve fuel efficiency and safety standards, have prompted OEMs to install more electrical and electronic devices, driving the market in the automotive industry. Furthermore, robust technological advancements in electronic goods and the increasing adoption of fast networks (4G/5G networks) around the world have increased demand for products containing thick film power resistors. These factors are expected to drive the thick film resistor market this year.
- Furthermore, due to its broad application in the electric and hybrid vehicle segments, hybrid electric vehicles are expected to outperform thick-film and shunt resistors. The HEV has an internal combustion engine, an electric drive system, and a broader array of other technologies, such as regenerative braking, enhanced engine assistance, actuators, and an autonomous start/stop system.
- These technologies necessitate more complex electrical and electronic equipment for extra power. Implementing such technologies, combined with the increased demand for HEVs, would boost the market for thick layers and shunt resistors. In August 2023, China sold a total of 846,000 new energy vehicles. Of these, 808,000 were passenger electric vehicles, while the remaining 39,000 were commercial electric vehicles.
- On the flip side, thick film resistors present several manufacturing and performance challenges. For example, different laser trim designs and shapes present different manufacturing challenges and yield different strengths and weaknesses in the performance of the resistor. Further, Thick film resistors can be sensitive to environmental and thermal effects, which can cause performance degradation or failure over time. Working with low ohmic values can be challenging for designers, especially in maintaining dimensional accuracy and minimizing fluctuations in resistance.
Thick Film Resistor Industry Segmentation
A thick film resistor is characterized by a thick film resistive layer over a ceramic base. The appearance of this resistor is similar to the thin film resistor, but their properties and manufacturing procedure are different. The thickness of the studied resistor is 1000 times thicker than the thin-film resistor.
The thick film resistor market is segmented by end-user industry (automotive, electrical & electronics, telecommunication) and Geography (North America, Asia-Pacific, Europe, Latin America, Middle East & Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
Thick Film Resistor Market Size Summary
The thick film resistor market is poised for significant growth, driven by increasing investments in research and development by manufacturers to enhance the efficiency of these components. The market is experiencing a surge in demand due to the rapid expansion of the consumer electronics and automotive sectors, where thick film resistors are integral to various applications. The rise in sales of electric and hybrid vehicles, coupled with stringent government regulations aimed at improving fuel efficiency and safety standards, is further propelling the market. Technological advancements in electronic goods and the widespread adoption of fast networks like 4G and 5G are also contributing to the growing demand for thick film resistors. Despite challenges such as manufacturing complexities and sensitivity to environmental factors, the market continues to expand, particularly in the automotive industry, where these resistors are valued for their high reliability and stability in harsh conditions.
The Asia-Pacific region emerges as a crucial market for thick film resistors, driven by the burgeoning telecom, consumer electronics, and automotive industries. China's robust automotive sector and the government's focus on expanding 5G infrastructure are key factors boosting market demand. Similarly, Japan's efforts to enhance 5G coverage are expected to further stimulate the market. Thick film resistors are widely utilized in consumer electronics due to their cost-effectiveness and reliability, with significant production volumes in countries like China. The market is moderately consolidated, with major players like CTS Corporation and Murata Manufacturing Co. Ltd. engaging in strategic partnerships and product innovations to enhance their market presence. Recent developments, such as Vishay Intertechnology's power rating enhancements and Bourns, Inc.'s new product series, highlight the ongoing efforts to meet diverse customer needs and improve product performance across various applications.
Thick Film Resistor Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Intensity of Competitive Rivalry
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1.2.5 Threat of Substitutes
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1.3 Value Chain Analysis
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1.4 Assessment of Impact of COVID-19 on the Market
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Thick Film Resistor Market Size FAQs
How big is the Thick Film Resistor Market?
The Thick Film Resistor Market size is expected to reach USD 0.72 billion in 2024 and grow at a CAGR of 5.20% to reach USD 0.92 billion by 2029.
What is the current Thick Film Resistor Market size?
In 2024, the Thick Film Resistor Market size is expected to reach USD 0.72 billion.
