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Thick Film Resistor Market : Trends, Share, and Forecast by Industry, Resistor Type & Vehicle Type (2023-2032)
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COVID-19 Impact Analysis:
Thick film resistor market has been severely affected by the ongoing pandemic. Government restrictions and lockdown has halted the overall operation and manufacturing of thick resistors. Also, the demand and supply of thick film resistor has been disrupted since, the manufacturing of automobile industry the largest user of these resistors was stopped. Moreover, unavailability of labour due to social distancing norms and other restrictions further delayed the production. Furthermore, due to restrictions there was a shortage in the raw material required for thick film resistor production. In addition, during the COVID-19 pandemic the sale in the electric vehicle has increased than the previous year. This factor is expected to drive the growth of thick film resistor market amidst the pandemic.
Top Impacting Factors
Rise in investment in R&D to increase efficiency of thick film resistor, rise in consumer electronics & automotive market, and rise in demand for electric & hybrid vehicles is expected to drive the growth of market.
However, lack of profit due to reduction in prices and development of new technology will replace the thick film resistor will hamper growth of market.
Moreover, rise in consumer spending, rise in demand for advanced features in commercial vehicle, and rise in adoption of 4G and 5G network will act as an opportunity for growth of market.
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Market Trends
Rise in demand for advanced features in commercial vehicle
Commercial vehicles are low on both on safety and luxury features compared to passenger vehicles. Therefore, regulatory authorities in different countries are upgrading the norms for commercial vehicles. For instance, European Union (EU) has made air-conditioning mandatory for heavy vehicles from 2017 and heating, ventilation & air conditioning (HVAC) mandatory for buses & coaches.
Furthermore, in 2019, the heavy trucks were mandated to be installed with electronic logging devices (ELD) from US department of transportation's federal motor carrier safety administration (FMCSA). All the regulations would increase electronic devices installation which results in demand for more thick film resistors for commercial vehicle thus, it is expected to drive growth of thick film resistor market.
Key Benefits of the Report:
This study presents the analytical depiction of the thick film resistor market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the thick film resistor market.
The current market is quantitatively analyzed to highlight the thick film resistor market growth scenario.
The report provides detailed thick film resistor market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the thick film resistor market research report :
Which are the leading market players active in the thick film resistor market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the thick film resistor market?
What are the projections for the future that would help in taking further strategic steps?
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