How Big is The Electrical Resistor Market?
IMARC Group, a leading market research company, has recently releases report titled “Electrical Resistor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that The global electrical resistors market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
What are electrical resistor?
An electrical resistor represents a passive two-terminal electrical component that is made of copper wires and specifically designed to regulate and manage the current flow and lower the voltage in any particular portion of the circuit. It is commonly available in fixed and variable product types. These electrical resistor variants prevent an excessive influx of current, adjust signal levels, and terminate transmission lines by restricting electron flow to a certain level. They can operate independently without requiring external voltage sources, which makes them a suitable component for motor controls or test loads for generators. Consequently, electrical resistors find extensive applications across numerous sectors, such as consumer electronics, telecommunications, information technology (IT), automotive, healthcare, etc.
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Electrical Resistor Market Trends and Drivers:
The escalating demand for power generation and electricity distribution, owing to the rising construction activities, is primarily driving the electrical resistor market. In addition to this, the growing technological advancements in the manufacturing process of electrical components, including fuel cells, batteries, electromechanical systems, etc., are further propelling the global market. Moreover, the widespread adoption of electric vehicles (EVs), on account of the inflating need for sustainable development, is acting as another significant growth-inducing factor.
Apart from this, the elevating investments by government bodies across countries promoting smart city development and infrastructure automation are also bolstering the market growth. Furthermore, the increasing use of solar power converters to generate power, the introduction of 5G technology, and extensive R&D activities by key market players are expected to fuel the electrical resistor market over the forecasted period.
Electrical Resistor Market Report Segmentation:
Competitive Landscape:
Who are the key players operating in the industry?
- Bourns Inc.
- Cressall Resistors Ltd.
- Japan Resistor Mfg. Co. Ltd.
- KOA Speer Electronics Inc. (KOA Corporation)
- Murata Manufacturing Co. Ltd.
- TE Connectivity
- Viking Tech Corporation
- Vishay Intertechnology Inc.
- YAGEO Group
- Zonkas Electronic Co. Ltd., etc.
What is included in market segmentation?
The report has segmented the market into the following categories:
Product Insights
- Fixed Resistor
- Variable Resistor
The report has provided a detailed breakup and analysis of the electrical resistor market based on the product. This includes fixed resistor and variable resistor. According to the report, variable resistor represented the largest segment.
Application Insights
- Electric Motor
- Driver
- Inverter
- Others
The report has provided a detailed breakup and analysis of the electrical resistor market based on the application. This includes electric motor, driver, inverter, and others. According to the report, electric motor represented the largest segment.
Industry Vertical Insights
- Consumer Electronics
- IT and Telecommunication
- Automotive
- Industrial
- Healthcare
- Others
A detailed breakup and analysis of the electrical resistor market based on the industry vertical has also been provided in the report. This includes consumer electronics, IT and telecommunication, automotive, industrial, healthcare, and others. According to the report, consumer electronics accounted for the largest market share.
By Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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