Thick Film Resistor Market Size, Share, Opportunities, And Trends By Type (Thick Film Power Resistor, Shunt Resistor), By End-User (Automotive, Electrical & Electronics, Telecommunication, Others), And By Geography - Forecasts From 2023 To 2028

The thick film resistor market was valued at US$1.803 billion in 2021.

Thick film resistors are electronic components that limit the current flow in a circuit. The thickness of the resistive layer determines the resistance value of the component. The thick film resistor market is driven by the growing demand for electronic devices and equipment across various industries, such as automotive, telecommunications, and consumer electronics. Thick film resistors are widely used in these industries due to their high reliability, stability, and cost-effectiveness.

The market is also driven by the increasing need for miniaturization in electronic devices, as thick film resistors can be made in smaller sizes than other resistors. The development of advanced technologies such as the Internet of Things (IoT) and 5G networks is expected to drive the demand for thick film resistors in the coming years. Key players in the thick film resistor market include KOA Speer Electronics, Vishay Intertechnology, Panasonic Corporation, Murata Manufacturing Co., Ltd., and Yageo Corporation. The market is expected to grow steadily in the coming years, driven by the increasing demand for electronic devices and equipment.

Thick Film Resistor Market Drivers:

• Emergence of smart manufacturing- The emergence of smart manufacturing, which integrates advanced technologies such as AI, IoT, and robotics, is driving the demand for thick film resistors. These resistors are used in various smart manufacturing applications such as process control and monitoring.
• Miniaturization of electronic devices - The trend towards miniaturization of electronic devices is driving the demand for smaller and more compact electronic components, including thick film resistors. These resistors can be made in smaller sizes than other types of resistors, making them an attractive option for compact electronic devices.
• Increasing demand for hybrid electric vehicles (HEVs) - The growing demand for HEVs is driving the demand for electronic components, including thick film resistors. These resistors are used in electronic control units (ECUs) and battery management systems (BMS) in HEVs.

The shunt resistor segment is expected to witness robust growth. 

Shunt resistors are used for current measurement and are essential in many industries, including automotive, consumer electronics, and industrial automation. The demand for high precision and accuracy in current sensing applications is driving the growth of the thick film shunt resistor market. In addition, the rise of electric vehicles and the growing need for battery management systems and motor control applications are also expected to fuel the market growth. The compact size and high power handling capacity of thick film shunt resistors make them suitable for several industries. The thick film shunt resistor market is poised for steady growth in the coming years, driven by the increasing demand for current measurement in various applications and the growing demand for higher power handling capacity.

North America accounted for a significant share of the global thick film resistor market.

Based on geography, the thick film resistor market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North America has a growing demand for high-quality electronic components in the defense and aerospace industries. As a result, there is increasing adoption of thick film resistors in these industries due to their high reliability, durability, and ability to withstand harsh environments. Additionally, the rise of the Internet of Things (IoT) is driving the growth of North America's thick film resistor market, as these resistors are widely used in IoT devices such as sensors and actuators. Another factor contributing to the growth of the North American thick film resistor market is the increasing demand for renewable energy sources, such as solar and wind power. These energy sources require power inverters, which rely on thick film resistors for current sensing and control.

Market Developments:

• In March 2023, Vishay Intertechnology launched its latest Automotive Grade thick film chip resistors series, the CDMA, designed for use in high-power DC/DC converters and inverters, battery management systems, and on-board chargers in electric vehicles (EV) and industrial equipment. These compact resistors are packed in 2512 case sizes with high working voltages of up to 1415 V, providing a broad resistance range.
• In December 2021, ROHM unveiled the LTR100L thick-film shunt resistors, designed for industrial and consumer applications, such as battery protection and motor drive circuits. These resistors provide superior accuracy and reliability to improve efficiency and power savings. It is extremely efficient for current detection in motor control and overcurrent protection circuits. Moreover, these resistors have best-in-class TCR characteristics among thick-film shunt resistors, ensuring highly accurate and reliable current detection.
• In June 2021, Bourns launched its Model CR01005 series, a tiny yet robust thick film chip resistor with a 01005-inch footprint. The introduction of this series broadens Bourns' general-purpose thick film chip resistor family to eight different footprints up to 2512,
  which addresses the particular requirements of portable gadgets, personal technology devices, factory machinery control, energy sources, illumination solutions using light-emitting diodes, and communication hubs.

Thick Film Resistor Market Scope:

Market Segmentation:

• BY TYPE
  • Thick Film Power Resistor
  • Shunt Resistor
• BY END-USER
  • Automotive
  • Electrical & Electronics
  • Telecommunication
  • Others
• BY GEOGRAPHY
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East And Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Others