According to a new market research report published by Credence Research “Linear Resistors Market (Product – Voltage-Dependent Resistors, Positive Temperature Coefficient Thermistors, Negative Temperature Coefficient Thermistors, Light-Dependent Resistors ; Application – Electrical Networks, Electronic Circuits) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall linear resistors market worldwide is set to grow with a CAGR of 4.2% during the forecast period.
The overall linear resistors market is highly driven by the rapidly growing demand for electronic circuits worldwide. The demand for electronic circuits has been at surge due to growing adoption of consumer electronics worldwide. In 2018, we have seen steady growth in consumer electronics market with over 4% yearly, which is giving boost to the linear resistors market. Linear resistors are those resistors where the resistance does not change with the change in flow of current. There are several application or usage of linear resistors such as to control volume in TV sets, music systems, current limiting and others. Further, linear resistors are also used for tracking, inductance and others. Growing demand for electronic circuits in consumer electronics worldwide will drive the growth for linear resistors during the forecast period.
Based on application, electronic circuits segment led the market with a significant contribution in linear resistors market revenue. The segment has the highest market share due to its wide application of linear resistors in electronic circuits. Electronic circuits can be used for various things such as to run electric motors, to recharge storage batteries, in consumer electronics, in healthcare, in automotive and others. Further, emphasis on durable and low electricity consumption are the major growth drivers for linear resistors in electronic circuits. On account of all these factors, we are expecting the electronic circuits segment to continue leading the market throughout the forecast period.
Based on the geography, Asia Pacific dominates the market for linear resistors with more than 36% revenue share and is set to demonstrate the fastest growth over the forecast period. Emerging economies of Asia Pacific such as China and India are leading the market for electronic products in the region. Further, the growth of consumer electronics market in the region is driving the growth for the electronic circuits market which in turn drives the linear resistors market growth. As a result of these factors, we are expecting Asia Pacific to grow with the highest CAGR during the forecast period.
Some of the major companies profiled in the report include AEP Components, Panasonic, Gefran, Cressall Resistors, Vetco Electronics, Vishay Intertechnology, Inc., TT Electronics HVR Pentagon, KOA Speer Electronics Inc. and others.
Our Blog: Home – Target Market Size