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Shunt Resistor Global Market Size, Competitors ,& Forecast

Every component contributes to the success of each machine. Where there is a rise in the machine industry, there is also a considerable impact on the components industry. Likewise, the shunt resistors are miniature components that help a machine succeed in the market. This blog is about enlightening your minds regarding the market share and expected size of shunt resistors in the upcoming years. We gathered data from different authentic sources that researched the market share of shunt resistors. 

Market Overview

There are main markets and submarkets, so we divided the explanation into different sections. This way, you can easily understand the overall market value of all resistors and shunt resistors. 

Resistors’ Market Value 

According to multiple research sources, the current value of the resistor market will be around USD 10.49 billion in 2024. At a CAGR of 3.20%, it could reach nearly USD 12.28 billion by 2029. These are the stats regarding the market size of resistors. 

SMD Shunt Resistors’ Market Value 

However, if we read more deeply, we will learn more about SMD shunt resistors. Their market value in 2022 was USD 1.14 billion, which could reach USD 1.58 billion by 2030. The growth rate is near 4.2% CAGR. 

Shunt Resistors’ Market Value 

If we investigate the results regarding shunt resistors further, we will find separate data. The Shunt resistor market was USD 3.1 billion in 2023 and could reach USD 5.2 billion by 2032. The growth rate that will increase its value is a CAGR of 5.8%.

The reason for such rising growth is a rapid hike in demand for EVs and solar-powered devices. These industries create demand for more shunt resistors alongside electronic goods. Renewable energy is one of the rising factors increasing the demand for shunt resistors.

Major Competitors and Each Region’s Market Share

This section will teach you about the major competitors ruling the global shunt market. These are hardly five companies with the largest share in the shunt resistors industry. Besides, many other companies contribute to the worldwide industry with emerging ones.

Major Players

Those five companies are Murata Manufacturing Co. Ltd., TE Connectivity Ltd., KOA Speer Electronics, Inc., ROHM Co., Ltd., and Vishay Intertechnology Inc. They have years of experience in innovation and growth rate compared to others.

Other Companies with Remaining Market Contribution

Yageo Corporation

TA-I Technology Co., Ltd.

Samsung Electro-Mechanics

Panasonic Corporation

KOA Corporation

Würth Elektronik

Walsin Technology Corporation

American Technical Ceramics Corp. (ATC)

CTS Corporation

LIZ Electronics

Uniohm Corp. 

The Region with Maximum Market Share 

Regarding market share, a rapid rise was noticed in the Asia-Pacific region. China, Japan, and South Korea are the major contributors to the production market. This element makes the Asia-Pacific market’s expected CAGR 6.2%, the highest compared to other regions.

Then North America and Europe have the second highest market share. Their demand is high because of a high focus on green energy production. The US, the UK, Germany, and France highly emphasize solar and EV applications. 

Shunt Resistor Applications and Industrial Demand

They are already common in some industries, such as consumer electronics. Mobile phones, gadgets, medical devices, and numerous electronic goods have shunt resistors for safe current flow. Countless devices have this miniature component installed inside them. 

Renewable Energy

If we look further at the research results, we will see a rise in demand for shunt resistors in renewable energy. Solar inverters require shunt resistors for the safe flow of current. It shows a massive consumption rate in the installation process. It also includes using shunt resistors in battery management systems for accurate current measurement. 

Automotive & Electric Vehicles (EVs)

In recent years, EVs have had a rapid rise in demand. Countries in Europe and North America have the highest share of EVs, which indicates an increase in shunt resistor demand. Their battery management systems and other setups have these miniature components for safe current flow. 

Electronics & Industrial Automation

The electronic industry already has a consistent demand for shunt resistors with additional increase. This increase has come because of innovation in smartphones, laptops, and wearable devices. The use of shunt resistors in their power supplies and power meters shows a massive consumption rate. It shows that industrial automation equipment also has a rise in demand for shunt resistors. Battery modules and radiofrequency transceiver modules also contribute to an increase in the demand size of shunt resistors.

These are the overall industries that need a large-scale supply of shunt resistors.

Consumer electronics 

Telecommunication devices

Automotive 

Industrial equipment

Aviation and Aerospace

Medical devices

Others

Key Types of Shunt Resistors

Research revealed that two shunt resistors are widely used: manganin and nichrome. Other types contribute a little. Manganin has a larger share because of its accuracy, stability, and temperature coefficient of resistance. It assists devices in performing at a safe level without any threat of electrical problems.

The second type, the Nichrome shunt resistor, is common in high-powered applications. It dissipates heat better than the other type, creating stability against high temperatures.

Common Forms 

Shunt resistors are available in different forms for precise installation inside devices. The research below shows the most common ones.

Surface-mounted Chips

Network

Carbon

Wire wound

Film/Foil/Oxide

Future Forecast and Market Trends 

Some market trends and future forecasts show the reason for growth in upcoming years. The first is technological advancements, meaning modern shunt resistors will be more precise. Their designs will be more compact and advanced than the current forms. Therefore, the growth will take place at a CAGR of 5.8% from 2023 to 2032. The sole reason behind that growth is the rise in electric vehicles and solar energy systems. 

Significant Challenges in the Shunt Resistor Market

This industry faces some challenges. The research is about supply chain issues along with global political tensions. Some countries are involved in specific regional tensions affecting trade and supply chain activities. Also, every improvement in technology demands higher precision and compact designs. These factors create more challenges for the manufacturers regarding R&D and production costs. 

Conclusion

This research shows that shunt resistors are among the main components of upcoming innovations. Solar technology and electric vehicles are already rapidly rising in the consumer industry. Since they need a safe current flow against risks of short circuits and fluctuations, shunt resistors are installed inside their battery management systems. Likewise, shunt resistors are also experiencing parallel growth in similar industries. 

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