The current sampling resistance market is expected to grow from US$ 2,145.42 million in 2021 to US$ 3,124.36 million by 2028; it is estimated to grow at a CAGR of 5.5% during 2021–2028.
Consumer electronics and appliance makers aim to increase production rates following a decline in demand in the current fiscal year.According to a report by Care Ratings, consumer electronics production is expected to rise by 5–8% in fiscal year 2022.
The growth in work-from-home culture is anticipated to help the rise in demand for goods that improve personal convenience at home.Rural demand may surpass the demand from urban markets because of rising rural wages and government programs connected to rural electrification.
As a result of the increased consumer electronics manufacturing, the demand for electronics components such as resistors and capacitors is also projected to increase, as resistors are one of the most fundamental components in any electrical or electronic circuit.The electric resistors regulate the amount of current passing through the circuit.
They control the voltage in the components to which they are connected. Without resistors, individual components cannot regulate the voltage, which can lead to overloading.
The current sampling resistance market is segmented in terms of type, application, and geography.Based on type, the market is categorized into thick film, thin film, and metal plate.
The thick film segment represented the largest share of the overall market in 2020.In terms of application, the current sampling resistance market is segmented into consumer devices, industrial, telecommunication, automotive, and other applications.
In 2020, the industrial segment accounted for the substantial share of the market.Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
In 2020, North America accounted for the significant share in the global market.
The COVID-19 pandemic has severely impacted APAC due to a large number of cases.Moreover, countries in this region are among the highly populated, which leads to the greater risk of infection.
According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. India is the worst-hit country by the pandemic in this region. Many global brands and technological companies are headquartered in the region.The limitations imposed by governments to control the spread of COVID-19, the impact of the disease on populations of different countries in the region, and current inability to utilize production capabilities are the key factors impacting the current sampling resistors market in Asian countries.
Therefore, the COVID-19 pandemic is likely to continue to hinder the current sampling resistors market growth in APAC.
The overall current sampling resistance market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the current sampling resistance market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the current sampling resistance market.
The key companies operating in the current sampling resistance market include Cyntec Co., Ltd.; KOA Speer Electronics, Inc.; Panasonic Corporation; ROHM CO., LTD.; Samsung Electro-Mechanics Co., Ltd.; SUSUMU CO., LTD.; TT Electronics; Viking Tech Corporation; Vishay Intertechnology, Inc.; and Walter Electronic Co., Ltd.
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