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The Global Precision Resistor Market is US$5.0 billion by 2030
Writer：Microhm Page View：Date：2024-04-18
The future of the global precision resistor market looks promising with opportunities in the test & measurement equipment, medical equipment, semiconductor, telecommunication, and industrial automation markets. The global precision resistor market is expected to reach an estimated $5.0 billion by 2028 with a CAGR of 5.2% from 2023 to 2028. The major drivers for this market are growing application of precision resistors in various end use industries, such as automotive, aerospace, and healthcare, increasing trend of miniaturization of electronic device and rising research and development activities for technological advancement of highly advanced precision resistors.
Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies precision resistor companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Precision Resistor Market Insights
The analyst forecasts that precision metal film resistors will remain the largest segment over the forecast period due to its increasing application in the communication equipment, medical electronic equipment, and automotive electronic industries.
Within this market, semiconductors will remain the highest growing segment due to increasing demand for electronic devices, rising penetration of cloud computing and internet of things (IoT), and growing adoption of technological advanced products like AI across the globe.
APAC will remain the fastest growing region over the forecast period due to increasing adoption of this resistor in the automotive as well as aerospace industries and presence of major consumer electronics manufacturers in the region.
The future of the global precision resistor market looks promising with opportunities in the test & measurement equipment, medical equipment, semiconductor, telecommunication, and industrial automation markets.
It also forecasts that precision metal film resistors will remain the largest segment over the forecast period due to its increasing application in the communication equipment, medical electronic equipment, and automotive electronic industries.
APAC will remain the fastest growing region over the forecast period due to increasing adoption of this resistor in the automotive as well as aerospace industries and presence of major consumer electronics manufacturers in the region of Northern Asia and SEA.
Microhm Electronics Limited is always advanced with the trend and demand of the Components market and our clients. Microhm Group under operation for higher capacity in Production Output and R&D of Precision Resistors like MVR series.
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