NEW YORK, Jan. 24, 2023 (GLOBE NEWSWIRE) — IndexBox’s recent report on the global electric heating resistor market highlights the following key points.
Resistor Market Forecast
The global electric heating resistor market is forecast to rise from $38B in 2022 to $48B by 2030, increasing at a CAGR of 3% over the period under review. This growth is being spurred by surging demand for resistors in a variety of applications.
The automotive industry is a major driver of the market, as resistors are used in engine management, body control modules, infotainment systems, charging systems, and power inverters. According to the International Energy Agency (IEA), the number of electric vehicles on roads is projected to reach 125 million by 2030.
The rising fuel cost and stricter emission norms are propelling the growth of the electric vehicle market, which is subsequently driving the demand for resistors. However, volatile raw material prices and stringent government regulations are some of the key challenges faced by manufacturers in this market.
Asia-Pacific is expected to be the fastest-growing market for resistors, followed by North America and Europe. The automotive industry in China and Japan is expected to expand at a rapid pace due to the increasing production of vehicles in these countries. Additionally, India is one of the fastest-rising economies in the world and is anticipated to witness significant market growth in the coming years.
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In the industrial sector, resistors are used in process control, renewable energy systems, power supplies, and motor drives. In the consumer electronics industry, resistors find applications in gadgets such as smartphones, laptops, and wearables. The increasing adoption of IoT devices and systems should stimulate market expansion.
The communications sector is also playing a significant role in driving the growth of the market. Resistors are used extensively in telecommunications equipment, including stations and optical networking gear. With the rapid expansion of 5G networks across the globe, demand for resistors is expected to increase significantly over the next decade.
Types of Resistors
The most common types of resistors are carbon film, metal oxide film, and wire-wound. Carbon film resistors are made from a thin layer of carbon deposited on an insulating substrate. Metal oxide film resistors are made from a thin layer of metal oxide deposited on an insulating substrate. Wirewound resistors are made from a length of wire wound around an insulating core.
Despite the resistor market is currently enjoying a period of growth, there are a number of challenges that threaten to hamper its future development. Firstly, the prices of raw materials used in the production of resistors – such as silver and copper – have been volatile in recent years, and show no signs of stabilizing. This makes it difficult for manufacturers to forecast their costs and plan their output in advance, leading to potential disruptions in supply.
Furthermore, the ongoing trade war between the US and China is another major challenge facing the resistor market. With tariffs being imposed on a range of electronic components, including resistors, this is likely to lead to an increase in prices and a reduction in demand from customers. In addition, the US-China trade war is also having a knock-on effect on other markets around the world, further complicating the picture for resistor manufacturers.
Finally, another key problem for the resistor market is the increasing trend for miniaturization in the electronics industry. As devices get smaller and smaller, there is less room for bulky components like resistors. This means that manufacturers must find ways to reduce the size of their products without compromising on quality or performance – a difficult task that will require significant investment in research and development.
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
Companies Mentioned in the Report
Vishay Intertechnology Inc., Yageo Corporation, KOA Corporation, Panasonic Corporation, Bourns Inc., and Taiwan Semiconductor Manufacturing Company Ltd.
World – Electric Heating Resistors – Market Analysis, Forecast, Size, Trends and Insights
EU – Electric Heating Resistors – Market Analysis, Forecast, Size, Trends and Insights
Asia – Electric Heating Resistors – Market Analysis, Forecast, Size, Trends and Insights
U.S. – Electric Heating Resistors – Market Analysis, Forecast, Size, Trends and Insights
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