Non-Linear Resistors Market to Grow with a CAGR of 6.5%Increasing Demand for Electronic Circuits Worldwide

According to a new market research report published by Brisk Insights “Non- 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, 2021 - 2029”, the overall non-linear resistors market worldwide is set to grow with a CAGR of 6.5% during the forecast period. 

Market Insights

The overall non-linear resistors market is highly driven by the rapidly growing demand for electronic circuits worldwide. The demand for electronic circuits is increasing due to growing adoption of consumer electronics worldwide. Non-linear resistors are those resistors where the electric current flow changes with exchange in applied voltage or temperature. There are several benefits of non-linear resistors such as chemically stable, increase power handling capacity, connected in parallel & series and used for measuring temperature. These resistors are also used for noise control, inductance and others. Growing demand for electronic circuits in consumer electronics worldwide will drive the growth for non-linear resistors. As a result of these factors, we are expecting high growth in non-linear resistors market during the forecast period. 

Based on application, electronic circuits segment led the market with more than 60% contribution in non-linear resistors market revenue. Due to wide application of electronic circuits worldwide, the segment has the highest market share. Electronic circuits can be used for various things such as to run electric motors, to recharge storage batteries, in consumer electronics, in healthcare and others. Rise in demand for production of green products is a major growth driver during the forecast period. 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 with revenue share of more than 30% across the globe. Due to consistently increasing consumption of consumer electronics & other electrical products, the region has the highest market share. Asia Pacific is also set to demonstrate the fastest growth in the market over the forecast period. Emerging economies of Asia Pacific such as China and India are investing significantly in development of electronics products. The growth of consumer electronics market in the region is driving the growth for the electronic circuits market which in turn helps the non-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. 

Browse the full report at https://www.briskinsights.com/report/non-linear-resistors-market

Some of the major companies profiled in the report include AEP Components, Micronova group, Lucas-Nulle GmbH, Murata Manufacturing, Vetco Electronics, Vishay Intertechnology, Inc., TT Electronics Plc, Queen Mao Electronic Co., Ltd., KOA Speer Electronics Inc, ohmite manufacturing company and others.