Chip Resistor Market Report and Forecast 2025-2034

The global chip resistor market attained a value of nearly USD 1.20 Billion in 2024. The market is estimated to grow in the forecast period of 2025-2034 at a CAGR of 6.20% to reach D 2.19 Billion by 2034.

Rapid Growth of the Asia Pacific Market to Augment the Overall Market Growth of Chip Resistor

The Asia Pacific region is anticipated to register robust growth in the global chip resistor industry during the forecast period on account of the huge production of electronic devices, along with the availability of resources in countries like China. With the expansion and development of the consumer electronics manufacturing sector, coupled with the emerging economic growth of the region, the market for chip resistor is likely to robustly grow in the Asia Pacific region over the coming years. Moreover, the surging adoption of EVs and advancements in electric and hybrid vehicles in the region are likely to enhance the demand for integrated circuits, hence driving the market growth of the chip resistor. The introduction of various favourable government initiatives to boost chip manufacturing is expected to bolster the market demand for chip resistor in the region. For Instance, in December 2021, the Indian government unveiled a plan of INR 76000 crore to encourage chip-making in the country.

Market Segmentation

A chip resistor refers to a component that restricts the flow of electrical current. It is primarily used to operate, control or safeguard circuits. It is also known as an SMD resistor or surface-mount device and finds extensive application in various end-use industries like automotive and electronics, among others.

The market for chip resistors, by type, is divided into:

• Thick Chip Resistor
• Thin Chip Resistor
• General Purpose Chip Resistors
• Current-Sensing Resistor
• Others

The market can be broadly categorised on the basis of shape segments into:

• Square
• Rectangular

Based on application, the market is segmented into:

• Industrial
• Consumer Electronics
• Automotive and Transportation
• Telecommunication
• Aerospace and Defence
• Medical
• Others

The report looks into the regional markets of chip resistor like:

• Latin America
• North America
• Europe
• Asia Pacific
• Middle East and Africa

Growing Demand for Chip Resistors in the Electronics and Automotive Industry Driving the Market

The global chip resistor market is being driven by the increasing utilisation of the product in electronics and automotive applications. Going further, with the surging novel innovations like high-definition equipment and eco-friendly electronic products, the demand for products is escalating in the electronics industry, which is fuelling the market growth of chip resistors. The rapid digitisation in various industries like telecommunication, robotics, and software, among others, is further driving the market growth of chip resistor. The growing technological developments in the medical industry and the rising utilisation of portable medical equipment are bolstering the demand for chip resistors. Moreover, the performance requirements of resistors utilised in automatic external defibrillators (AEDs), including cardiac monitoring circuits are extremely demanding. This, in turn, is surging the utilisation of chip resistors that can withstand high voltages and dissipate about 10W of power while providing voltage linearity and temperature stability, which is further bolstering the market for chip resistors.

Key Players in the Global Market for Chip Resistor

The report presents a detailed analysis of the following key players in the global chip resistor market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• ROHM CO., LTD.
• YAGEO Group
• TE Connectivity Corporation
• Bourns, Inc.
• Panasonic Industry Co., Ltd. (Panasonic Corporation)
• Others

The comprehensive report looks into the macro and micro aspects of the market. The report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.