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Chip resistors, which are popularly known as surface mount devices (SMD) are mounted directly on a printed circuit boards (PCB) used for maintaining DC or AC current flow at a certain level inside an electronic circuit. These chips are usually square or rectangle in shape. The primary resistance elements of chip resistors are SiO2 (silicon dioxide), RuO2 (Ruthenium (iv) oxide) and CuNi (cupronickel). The primary resistance components that help the formation of products with high resistance, low resistance, ultralow resistance, anti-sulfur and array resistance properties.

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Owing to the space efficiency of the chip resistors as compared to the discrete encapsulated resistors and its user friendliness in multiple applications it is anticipated to grow on a significant CAGR over the forecast period. However, the factors such as significant growth of quantum devices and the rising adoption of more minute resistors such as nanoscale resistors are anticipated to refrain the growth of the global chip resistor market.

Furthermore, the significant use of chip resistors in cloud computing and the growing market for cloud computing in multiple industry verticals across the globe can have a significantly positive impact on the global chip resistor market over the forecast period.

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Additionally, the prominence of consumer electronics industry in major Asia Pacific economies such as China and Japan are suggested to be of crude potential for the growth of the chip resistor market owing to its heavy use in consumer electronics devices.

Owing to its significant adoption in multiple application the chip resistor market is consisting of multiple leading players. Some of them are Murata Manufacturing, Panasonic Corporation, ROHM Semiconductor, Vishay Intertechnology, TE Connectivity, Bourns, Arcol, Ohmite Mfg Co, KOA Speer Electronics and Viking Tech Corporation.