Market Definition

The market encompasses power, chip, through-hole, and shunt resistors used in ICE, electric, and hybrid vehicles, as well as automotive, electrical & electronics, and telecommunications industries. These resistors provide circuit protection, power management, and signal processing, supporting advancements in electrification, miniaturization, and high-frequency applications.

Thick Film Resistor Market Overview

The global thick film resistor market size was valued at USD 689.4 million in 2023 and is projected to grow from USD 721.1 million in 2024 to USD 1048.3 million by 2031, exhibiting a CAGR of 5.49% during the forecast period.

This growth is driven by the increasing adoption of consumer electronics, automotive electronics, industrial automation, and telecommunications. The demand for compact, high-reliability resistors is rising due to advancements in EVs, 5G technology, and IoT-enabled devices.

Major companies operating in the thick film resistor industry are Fenghua (HK) Electronics Ltd., EVER OHMS TECHNOLOGY CO., LTD., Riedon, KOA Speer Electronics, Inc., Stackpole Electronics, Inc., Vishay Intertechnology, Inc., Mouser Electronics, Inc., Ohmite Mfg Co., TE Connectivity, Panasonic Industry, Bourns, Inc, Johanson Dielectrics, YAGEO Group, TT Electronics, ROHM Co., Ltd, and others.

As industries increasingly adopt high-performance electronic components in consumer electronics and automotive applications, the demand for compact, reliable resistors continues to rise. Key factors driving market expansion include electrification, miniaturization, the growth of EVs, advancements in 5G, and industrial automation, all requiring efficient power management and circuit protection solutions.

In May 2023, Vishay Intertechnology, Inc. launched the Vishay MCB ISOA, an AEC-Q200 qualified thick film power resistor with high pulse handling and power dissipation of up to 120 W. Designed for automotive, industrial, and AMS applications, it enhances efficiency, simplifies designs, and reduces costs with integrated temperature monitoring and streamlined installation.

Key Highlights:

The thick film resistor industry size was recorded at USD 689.4 million in 2023.
The market is projected to grow at a CAGR of 5.49% from 2024 to 2031.
North America held a hare of 33.78% in 2023, valued at USD 232.9 million.
The power resistor segment garnered USD 219.6 million in revenue in 2023.
The ICE segment is expected to reach USD 403.6 million by 2031.
The electrical & electronics segment is likely to generate a revenue of USD 402.6 million by 2031.
Asia Pacific is anticipated to grow at a CAGR of 6.41% over the forecast period.

Market Driver

Rising Demand for Consumer Electronics

The market is experiencing significant growth, propelled by the increasing global demand for consumer electronics. The rising demand for smartphones, laptops, tablets, wearables, and smart home device is highlighting the need for compact, high-performance electronic components, including thick film resistors.

These precision resistors ensure stable performance under varying environmental and power conditions, making them a cost-effective and reliable choice for miniaturized electronic circuits.

Market Challenge

Resistance Drift in High-Power Applications

A major challenge hindering the expansion of the thick film resistor market is resistance drift in high-power applications. Prolonged exposure to extreme temperatures and high power loads causes shifts in resistance values, affecting performance in critical applications such as automotive electronics, industrial machinery, and power supplies.

To address this challenge, manufacturers are developing advanced material compositions and refining manufacturing techniques. They are further focusing on utilizing improved ceramic substrates, enhanced film deposition processes, and proprietary resistance formulations to minimize drift and enhance temperature stability.

Market Trend

Growing Adoption in Automotive Electronics

Surging adoption in automotive electronics is emerging as a notable trend in the market, fueled by the increasing demand for electric vehicles (EVs) and advanced driver-assistance systems (ADAS).

Modern vehicles require a large number of resistors for power management, sensing, and control applications, where thick film resistors offer an ideal combination of durability, high resistance values, and cost efficiency.

As the automotive industry shift toward electrification and automation, the demand for highly reliable and thermally stable resistors is on the rise. Thick film resistors are widely used in battery management systems (BMS), inverters, on-board chargers, and infotainment systems to enhance power distribution and circuit protection.

In May 2024, TT Electronics launched the LRF4W High Power SMT Shunt Resistor for automotive power management applications. This reflects the growing use of thick film resistors in EVs and ADAS, where high-precision, durable resistors are essential for battery management systems (BMS) and power distribution.

Thick Film Resistor Market Report Snapshot

Segmentation	Details
By Type	Power Resistor, Chip Resistor, Through Hole Resistor, Shunt Resistor
By Vehicle	ICE, Electric, Hybrid
By End-User Industry	Automotive, Electrical & Electronics, Telecommunication
By Region	North America: U.S., Canada, Mexico
	Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe
	Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific
	Middle East & Africa: Turkey, UAE, Saudi Arabia, South Africa, Rest of Middle East & Africa
	South America: Brazil, Argentina, Rest of South America

Market Segmentation

By Type (Power Resistor, Chip Resistor, Through Hole Resistor, and Shunt Resistor): The power resistor segment earned USD 219.6 million in 2023 due to its widespread adoption in high-power applications such as industrial automation, power supply units, and electric vehicles (EVs).
By Vehicle (ICE, Electric, and Hybrid): The ICE held a share of 38.45% in 2023, fueled by the rising demand for fuel-powered vehicles, particularly in regions with limited EV infrastructure.
By End-User Industry (Automotive, Electrical & Electronics, and Telecommunication): The electrical & electronics segment is projected to reach USD 402.6 million by 2031, largely attributed to the surging demand for compact, high-performance electronic components in consumer devices, industrial equipment, and smart appliances.

Thick Film Resistor Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Thick Film Resistor Market Size & Share, By Region, 2024-2031

North America thick film resistor market share stood at around 33.78% in 2023, valued at USD 232.9 million. This dominance is reinforced by the region’s strong presence in consumer electronics, automotive, aerospace, and industrial automation sectors.

The increasing demand for advanced electronic components in 5G infrastructure, electric vehicles (EVs), and smart devices has contributed significantly to regional market growth. The U.S leads the regional market due to substantial R&D investments, technological advancements, and the presence of key industry players.

Additionally, the expanding semiconductor and telecommunications industries further fuel demand, with thick film resistors playing a crucial role in circuit protection, signal processing, and power management applications.

Asia Pacific thick film resistor industry is poised to grow at aCAGR of 6.41% over the forecast period. This growth is largely attributed to rapid industrialization, expanding consumer electronics manufacturing, and increasing EV adoption.

Countries such as China, Japan, South Korea, and India are contributing significantly to this expansion, benefitting from large-scale production of smartphones, laptops, home appliances, and automotive electronics. Additionally, major electronic component manufacturers and government initiatives for 5G and smart cities are further boosting demand for thick film resistors.

Regulatory Frameworks

In the U.S., the American National Standards Institute (ANSI) regulates standards for thick film resistors, ensuring performance, reliability, and safety compliance in electronic, automotive, and telecommunication applications, ensuring compliance with industry best practices and international guidelines.
In Europe, the European Committee for Electrotechnical Standardization (CENELEC) defines performance, safety, and reliability standards for electronic components, ensuring compliance with industry requirements, enabling resistors to meet electromagnetic compatibility, durability, and environmental regulations across automotive, telecommunications, and industrial electronics sectors.

Competitive Landscape

The thick film resistor industry is highly competitive, with key players focusing on product innovation, pricing, quality, and distribution networks. Leading manufacturers prioritize advancements in resistance stability, power handling , and miniaturization to meet the demands of industries such as consumer electronics, automotive, telecommunications, and industrial automation.

Investments in R&D are fostering improvements in performance and expanding applications in 5G infrastructure, electric vehicles (EVs), and IoT-enabled devices.

Additionally, manufacturers are developing environmentally friendly, and high-reliability resistor solutions to cater to the growing demand for energy-efficient and sustainable electronic components. To maintain competitiveness, companies are adopting regional expansion and optimizing supply chains.

In April 2023, Bourns, Inc. acquired Riedon Inc., enhancing its resistor portfolio to offer a broader range of high-precision resistive solutions for consumer electronics, automotive, and industrial applications.

List of Key Companies in Thick Film Resistor Market:

Fenghua (HK) Electronics Ltd.
EVER OHMS TECHNOLOGY CO., LTD.
Riedon
KOA Speer Electronics, Inc.
Stackpole Electronics, Inc.
Vishay Intertechnology, Inc.
Mouser Electronics, Inc.
Ohmite Mfg Co.
TE Connectivity
Panasonic Industry
Bourns, Inc.
Johanson Dielectrics
YAGEO Group
TT Electronics
ROHM Co., Ltd.

Recent Developments (New Product Launch)

In November 2024, Bourns, Inc. launched the Riedon Model PFS35 and PF2203 Series High Power Thick Film Resistors in compact TO-220 and DPAK packages, enhancing power dissipation and circuit stability.
In November 2024, Vishay Intertechnology launched the AEC-Q200 qualified D2TO35M thick film power resistor in a D2PAK (TO-263) package, offering enhanced power dissipation, multi-pulse capability, and high reliability for automotive applications, including EVs, ADAS, and power management systems.