The Europe Thin Film Chip Resistor Market would witness market growth of 5.2% CAGR during the forecast period (2022-2028).
The thin film chip resistors demand is being induced by the development of data capture, sensors, computing power, networking, and robotics, which is assisting businesses in producing advanced materials to enhance manufacturing, supply chains, and services. Such resistors are utilized to maintain current or reduce the voltage at a specific level, as well as to control the electricity flow in a system or device.
Furthermore, in numerous applications, including those in industrial, consumer electronics, as well as automotive, they are also utilized to secure, control, and run circuits. Also, the market for thin film chip resistors is anticipated to grow significantly over the course of the forecast period as a result of customers' growing preference for electronic gadgets and the expanding use of automotive and industrial electronics. In addition, the ongoing development of new technologies like 5G networks, IoT, and artificial intelligence in gadgets have also accelerated their use.
The size of the consumer electronics industry in Europe is expected to increase significantly as a result of the region's high internet penetration. In addition, the use of smart wearable technology and devices will rise as smartphone usage continues to grow significantly. In addition, a lot of consumers are switching from semi-automatic to completely automatic household appliances in an effort to improve their level of life. Furthermore, as the average annual income of the regional population rises, many nations, like Germany, the U.K., and France, have increased the demand for compact electric appliances. Hence, the growing demand for smart devices as well as medical equipment has propelled the demand for thin film chip resistors, ensuring the expansion of the market throughout the forecast period.
The Germany market dominated the Europe Thin Film Chip Resistor Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $54.5 million by 2028. The UK market is anticipated to grow at a CAGR of 4.4% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 6% during (2022 - 2028).
Based on End User, the market is segmented into Industrial Equipment, Consumer Electronics, and Others. Based on Application, the market is segmented into Instrumentation, Electronic Digital Products, Electric Power Equipment, Medical Instruments, Power Supply, and Others. Based on Type, the market is segmented into Ultra Precision 0.05% Tolerance, 0.1% Tolerance, 1% Tolerance, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Thin Film Chip Resistor Market will Hit $885.9 Million by 2028, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bourns, Inc., International Manufacturing Services, Inc., KOA Speer Electronics, Inc. (KOA Corporation), ASJ Pte Ltd. (ASJ Holdings Ltd.), Cal-Chip Electronics, Inc., Hong Kong Resistors Manufactory, Micro-Ohm Corporation, Mini-Systems, Inc., Ohmite Manufacturing Co. (Heico Companies LLC), and Susumu Co., Ltd.
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