Thick Film Resistor Market: Pioneering Innovation in a Fast-Changing Landscape

The Thick Film Resistor Market size was valued at USD 713.3 Million in 2023 and the total Thick Film Resistor Market revenue is expected to grow at a CAGR of 5.16% from 2024 to 2030, reaching nearly USD 1015 Million by 2030.
Thick Film Resistor Market Overview
Thick film resistors are high-performance components made from a layer of metal oxide paste that's printed on an insulating substrate and fired. They're used in many industries, including aerospace, medical technology, and power generation. Thick film technology allows high resistance values to be printed on a cylindrical or flat substrate either covered entirely or in various patterns.

Automotive thick film resistors are utilized in a variety of applications in automobiles. The resistor aids in the control of current and voltage flow in circuits. It also contributes to the stability of the electrical system by dispersing heat energy. Furthermore, it prevents damage to other vehicle components caused by excessive heat generation. Furthermore, these resistors are used to measure electrical signals. As a result, they play a crucial role in assuring the safety and proper operation of automobiles. For instance, in 2022, the United States produced around 1.8 million automobiles. That reflected an increase of around 13% over the previous year. Such huge production has created an opportunity for the Thick Film Resistor Market to grow.

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Thick Film Resistor Market Dynamics
Rising Demand for Electronic Devices Contributes to Thick Film Resistor Market Revenue Growth

The rapid increase in demand for electronic devices is one of the key drivers of the thick film resistor market. This surge is closely linked to the growing use of the Internet of Things (IoT), as well as the rising demand for smartphones, laptops, and wearable devices. Each of these technologies requires a significant number of electronic components, including resistors. For instance, the average PC contains around 1,000 thick-film chip resistors, highlighting the essential role they play in modern computing hardware. As per the National Bureau of Statistics of China, the country produced approximately 27.6 million completed computers in July 2023, showcasing the scale of production that directly influences the demand for thick-film resistors. Similarly, India’s computer hardware export value, which reached approximately USD 554 million in 2023, emphasizes the thriving market for such components.

In addition to computers and smartphones, wearable devices like fitness trackers and smartwatches also fuel the demand for thick-film resistors. These resistors are critical in managing signals, regulating power, and tracking electrical flow in such devices. Wearables with advanced power-saving features, such as smartphones with sleep mode, rely heavily on resistors to control power distribution and operation modes efficiently. As wearable technology continues to gain popularity, the thick film resistor market is set to expand further, driven by the growing need for high-efficiency electronic components across a range of devices.

The global battery electric vehicle (BEV) market experienced substantial growth in 2023, with approximately 18 million BEVs in use and around 7.3 million new additions to the fleet that year, reflecting a steady increase since 2017. This surge in electric vehicle (EV) adoption is driven by stringent environmental regulations and a growing acceptance of electric transmission vehicles worldwide. As automakers seek to capitalize on this burgeoning market, there is an increasing demand for high-performance components, including thick film resistors, which are essential for the reliability and efficiency of EV systems. The pandemic has further heightened environmental awareness among consumers, contributing to an uptick in the intention to purchase electric vehicles. A notable example of this trend is Tesla's Model Y, which emerged as the world's best-selling battery-electric vehicle in 2023 and the fourth best-selling passenger car globally. Tesla Motors, a pioneer in the exclusive assembly of electric vehicles, delivered over 1.3 million vehicles worldwide in 2023, underscoring the growing significance of EVs in the automotive market. This increased demand for electric vehicles is a key driver for the thick film resistor market, as these components play a critical role in enhancing the performance and durability of EV systems.

The growing demand for advanced electronic features in commercial vehicles is a significant trend upgrading the thick film resistor market
Compared to passenger cars, commercial vehicles traditionally have fewer luxury and safety features, but regulatory changes across various countries are pushing for enhanced safety and efficiency standards. For instance, in July 2023, the Indian government mandated that air conditioning systems installed in the cabins of trucks starting January 2025, reflecting an effort to improve driver comfort. Similarly, in the U.S., the Federal Motor Carrier Safety Administration (FMCSA) has required the installation of electronic logging devices (ELDs) in all commercial trucks. These regulatory actions are fostering a surge in the installation of electronic systems in commercial vehicles, thereby increasing the demand for thick-film resistors, which are critical components in these systems.

Additionally, advanced technologies in passenger cars are increasing rapidly, further influencing the demand for thick-film resistors. Features such as navigation, engine control, connectivity, power steering, electric transmission, climate control, lighting, and anti-lock braking systems (ABS) are increasingly standard in modern vehicles. Emerging systems like vehicle-to-vehicle (V2V) communications, driver assistance technologies, self-steering, and self-parking systems are being widely adopted, pushing the need for resistors and capacitors to support these advanced functions in the thick film resistor industry. This shift toward more electronically sophisticated vehicles is propelling the growth of the thick film resistor market, as these components are essential for regulating power and ensuring the reliability of electronic systems in both passenger and commercial vehicles. According to CEIC Data, U.S. sales of passenger cars reached approximately 2.85 million units in December 2022, underscoring the scale of this growing trend.
Thick Film Resistor Market Segment Analysis
By End-User Industry, the automotive industry is expected to hold the largest thick film resistor industry share for thick-film resistors by 2030, accounting for approximately 40% of the total market. This is primarily due to the extensive use of thick-film resistors in automotive applications, where they are valued for their durability and resistance to extreme environmental conditions such as temperature fluctuations, humidity, and vibration. These resistors are crucial in automotive electronic circuits, offering high resistance to heat, moisture, and shock, making them ideal for the robust demands of modern vehicles. Automotive-grade thick-film chip resistors are available in various sizes, resistance levels, and operating voltages, and are designed to meet stringent standards such as AEC-Q200 compliance set by the Automotive Electronics Council (AEC). This ensures that they withstand the tough testing and conditions specific to the automotive sector.



Furthermore, the growing implementation of Advanced Driver Assistance Systems (ADAS) and autonomous vehicle technologies drives the demand for thick film resistors in automotive electronics. ADAS relies heavily on resistors to manage the flow of current across various components, such as sensors, cameras, and control units, ensuring accuracy, stability, and durability in harsh environments. Telematics control units and body electronics are among the many ADAS components that use thick-film resistors. By 2030, autonomous vehicles are projected to generate USD 300–400 million in revenue, further contributing to Thick Film Resistor Market growth. Additionally, the rise of connected cars, which require even more sophisticated electronic systems and integration with infrastructure, highlights the increasing dependency on thick-film resistors and other electronic components. Safety features such as airbags, anti-lock braking systems, and stability control also rely on these resistors to regulate the flow of current, dispersing heat and ensuring the stability of the system, thereby preventing damage from excessive heat. The automotive sector’s growing reliance on advanced electronic systems is a key driver for the thick film resistor market growth.
Thick Film Resistor Market Regional Analysis
In 2023, the Asia-Pacific (APAC) region emerged as the dominant player in the thick film resistor market, commanding approximately 45% of the global share, with forecasts indicating it will continue to lead with the highest growth rate. This prominence is attributed to the surge in demand from the electronics and electrical sectors, the robust presence of numerous market players, and substantial investments in innovative technologies to enhance vehicle production. Notably, China stands out as a major hub for the automotive industry, with projections suggesting domestic automotive manufacturing will reach 35 million units by 2025. In 2021, China sold around 26 million vehicles, including 21.48 million passenger cars, marking a 7.1% increase from the previous year. The integration of 5G technology in automobiles is further accelerating this trend, driven by the demand for improved infotainment, telematics features, and better connectivity in autonomous vehicles. The Chinese government’s supportive policies, such as the easing of regulations for EV charging infrastructure, are fostering the growth of electric vehicles and, consequently, enhancing the thick film resistor market for integrated circuits and resistors in automotive systems. Additionally, Japan's government is working to significantly expand 5G coverage, with plans to achieve 95% population coverage by March 2024, which is expected to bolster the market for resistors used in advanced electronic applications.

North America also holds a substantial share of the thick film resistor market, driven primarily by the escalating demand for high-quality electronic components in the military and aerospace sectors. The region’s focus on reliability, durability, and resistance to harsh environments makes thick-film resistors a preferred choice for these critical applications. The growing adoption of connected sensors and actuators further fuels market expansion, as these resistors are integral to the performance and stability of such systems. The robust defense and aerospace industries in North America continue to drive innovation and demand for reliable electronic components, reinforcing the significant role of thick film resistors in this region.

Thick Film Resistor Market Competitive Landscape

In March 2023, Vishay announced a significant enhancement to its Vishay Draloric RCS0805 e3 anti-surge thick film resistor, elevating its power rating to 0.5 W within the compact 0805 case size. This advancement allows the RCS0805 e3 to effectively replace resistors in larger sizes, such as the 1210 case size or two resistors in the 1206 case size, and even four standard parallel resistors in the 0805 case size. This innovation positions Vishay strategically in the thick film resistor market by offering a more efficient and compact solution that can potentially reduce component count and space requirements in various applications. The upgraded resistor’s enhanced power handling capabilities and anti-surge features are designed to meet the growing demands for higher performance and reliability in electronic systems, particularly in automotive and industrial applications.

In parallel, Bourns, Inc. bolstered its position in the high-power thick film resistor market by introducing four new AEC-Q200-compliant product series in February 2023: the Model CRM-Q, CRS-Q, CMP-Q, and CHP-Q Series. These new offerings are tailored specifically for automotive applications, boasting high-rated power and exceptional pulse load surge capabilities. By focusing on automotive-grade resistors with stringent compliance standards. Bourns aims to cater to the increasing demands for high-performance components in the automotive sector. This move by Bourns underscores its commitment to providing robust and reliable solutions that withstand the rigorous conditions typical of automotive environments. The rivalry between Vishay and Bourns highlights the competitive landscape in the thick film resistor market, as both companies leverage their technological advancements and compliance with industry standards to capture market share and address the evolving needs of high-power electronic applications.
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Global Thick Film Resistor Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 530.75 Mn.


Forecast Period 2023 to 2029 CAGR:
5.1%
Market Size in 2029:
US $ 751.82 Mn.


 Segments Covered:
by Resistor Type
Thick Film Power Resistor
Shunt Resistor
Others


by Electric Vehicle Type
Battery Electric Vehicle
Hybrid Electric Vehicle
Plug-In Hybrid Electric Vehicle


by End Use Industry
Automotive
Electrical & Electronics
Telecommunication
Others



Global Thick Film Resistor Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Thick Film Resistor Key Players
North America:
1. Vishay Intertechnology, Inc. (Pennsylvania, USA)
2. Bourns, Inc. (California, USA)
3. KOA Speer Electronics, Inc. (New York, USA)
4. TT Electronics Plc (Texas, USA)
5. CTS Corporation (Illinois, USA)
Europe:
6. YAGEO Corporation (Neuss, Germany)
7. TE Connectivity Ltd. (Schaffhausen, Switzerland)
8. Rohm Semiconductor GmbH (Willich, Germany)
9. TT Electronics Plc (Woking, UK)
10. Sfernice (Vishay Intertechnology) (France)
Asia Pacific:
11. Panasonic Corporation (Osaka, Japan)
12. Samsung Electro-Mechanics (Suwon, South Korea)
13. Kyocera AVX Components Corporation (Kyoto, Japan)
14. Walsin Technology Corporation (Taipei, Taiwan)
15. Ta-I Technology Co., Ltd. (Taichung, Taiwan)
Middle East & Africa:
16. Riedon, Inc. (Dubai, UAE)
17. Royal Ohm Co., Ltd. (Johannesburg, South Africa)
18. Ohmite Manufacturing Company (Dubai, UAE)
South America:
19. IRCE S.p.A. (São Paulo, Brazil)
20. Vishay Intertechnology (São Paulo, Brazil)
21. KOA Corporation (Buenos Aires, Argentina)
22. NIC Components (Santiago, Chile)
23. Bourns, Inc. (São Paulo, Brazil)

Frequently Asked Questions:
1. Which region has the largest share in Global Thick Film Resistor Market?
Ans: Asia Pacific region held the highest share in 2023.

2. What is the growth rate of Global Thick Film Resistor Market?
Ans: The Global market is growing at a CAGR of 5.16% during forecasting period 2024-2030.

3. What is scope of the Global market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. What was the Global Thick Film Resistor Market size in 2023?
Ans: The Global market was valued at USD 713.3 Mn. In 2023.

5. What is the study period of this Market?
Ans: The Global Thick Film Resistor Market is studied from 2024 to 2030.