According to a new report, published by KBV research, The Global Thin Film Chip Resistor Market size is expected to reach $885.9 Million by 2028, rising at a market growth of 5.4% CAGR during the forecast period.
The Industrial Equipment segment acquired maximum revenue share in the Global Thin Film Chip Resistor Market by End User in 2021 thereby, achieving a market value of $527.3 million by 2028. A diverse variety of industry sectors, including industrial equipment, are placing an increasing emphasis on the long-term durability of thin film chip resistors in low sulfur environments. In mission-critical applications, like banking, military, mass data storage, and especially harsh industrial situations or geographic locations where conditions are not ideal for server operation industrial equipment are highly beneficial.
The Electronic Digital Products segment is showcasing a CAGR of 5.1% during (2022 - 2028). Due to its characteristics that make it highly appropriate for packaging purposes alongside other semiconductor elements on a single-chip basis, the product demand is estimated to grow. This growth is substantiated especially by the growth of smartphones, among other electronic digital applications, which are expected to account for a significant demand in the coming years.
The Ultra Precision 0.05% Tolerance segment is leading the Global Thin Film Chip Resistor Market by Type in 2021 thereby, achieving a market value of $467.4 million by 2028. In recent years, ultra-precision 0.05% tolerance thin film chip resistors have gained popularity among both consumers and manufacturers. Its high use in a number of industries, like healthcare, solar, and aerospace & military, is the primary factor propelling the expansion. They are anticipated to have a significant impact on the thin film chip resistor market size throughout the course of the forecast.
The North America market dominated the Global Thin Film Chip Resistor Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $335.6 million by 2028. The Europe market is exhibiting a CAGR of 5.2% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 6.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/thin-film-chip-resistor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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