“Global Carbon Resistor Market to reach a market value of USD 3.6 Billion by 2031 growing at a CAGR of 5.4%”
The Global Carbon Resistor Market size is expected to reach $3.6 billion by 2031, rising at a market growth of 5.4% CAGR during the forecast period.
The Asia Pacific region is home to some of the world's largest electronics manufacturing hubs, including China, Japan, South Korea, Taiwan, and Singapore. Therefore, the Asia Pacific segment captured $1,177.75 million revenue in the market in 2023. These countries have established themselves as global leaders in producing electronic components, devices, and equipment, driving their demand in various applications.
Resistors that provide reliable and accurate performance in small form factors are needed because of the growing complexity and shrinking of electronic equipment. Carbon resistors meet these requirements, providing stable resistance values over various temperatures and operating conditions. Thus, these factors can boost their demand in the coming years.
Additionally, carbon resistors are crucial in the complex electronic systems that power and control EVs and hybrid vehicles. These resistors are utilized in various applications to ensure electric and hybrid propulsion systems' optimal performance, efficiency, and safety. These are used in motor control systems to regulate electric motors' speed, torque, and direction. Therefore, these aspects will lead to their enhanced demand in the coming years.
However, the competitive landscape in the market often results in compressed profit margins for companies. As manufacturers engage in price wars to gain market share or maintain competitiveness, profit margins may shrink, limiting the financial resources available for reinvestment and growth. Hence, these aspects can reduce their demand in the upcoming years.
Based on application, the market is segmented into electronics, automotive, aerospace & defense, and healthcare. In 2023, the automotive segment garnered 16.2% revenue share in the market. The integration of connectivity features and infotainment systems has become a key selling point for modern vehicles, driving demand for electronic components that support these functionalities.
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America segment acquired 25.9% revenue share in the market. North America, particularly the United States, is known for its innovation-driven economy and strong focus on technological advancements. The region is home to a thriving electronics industry, characterized by research and development activities, technological innovation, and the adoption of cutting-edge technologies.
Free Valuable Insights: Global Carbon Resistor Market size to reach USD 3.6 Billion by 2031
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 2.4 Billion |
| Market size forecast in 2031 | USD 3.6 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.4% from 2024 to 2031 |
| Number of Pages | 138 |
| Number of Tables | 180 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Application, Region |
| Country scope |
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| Companies Included | Ohmite Manufacturing Co. (Heico Companies LLC), TE Connectivity Ltd., Bourns, Inc., Kura Electronics & Electricals, JDC Resistors Co., Ltd., Synton-Tech Corporation, Kusum Enterprises Pvt Ltd., Sanmina Corporation, Vishay Intertechnology, Inc., Panasonic Holdings Corporation |
By Application
By Geography
The Market size is projected to reach USD 3.6 billion by 2031.
Electronics industry growth and technological advancements are driving the Market in coming years, however, Increasing competition and pricing pressures restraints the growth of the Market.
Ohmite Manufacturing Co. (Heico Companies LLC), TE Connectivity Ltd., Bourns, Inc., Kura Electronics & Electricals, JDC Resistors Co., Ltd., Synton-Tech Corporation, Kusum Enterprises Pvt Ltd., Sanmina Corporation, Vishay Intertechnology, Inc., Panasonic Holdings Corporation
The expected CAGR of this Market is 5.4% from 2024 to 2031.
The Asia Pacific region dominated the Market, by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.8 Billion by 2031.
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