India MLCC and Thick Film Chip Resistors Market was valued at US$ 456.7 million in 2024 and is projected to reach US$ 678.9 million by 2030, at a CAGR of 6.8% during the forecast period 2024-2030.
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MLCCs are multi-layer ceramic capacitors, and thick film chip resistors are surface-mount resistors made with thick film technology.Growing demand in consumer electronics and automotive sectors. Increasing miniaturization of electronic devices driving market growth.This report contains market size and forecasts of MLCC and Thick Film Chip Resistors in India, including the following market information:
• India MLCC and Thick Film Chip Resistors Market Revenue, 2019-2024, 2024-2030, ($ millions)
• India MLCC and Thick Film Chip Resistors Market Sales, 2019-2024, 2024-2030,
• India Top five MLCC and Thick Film Chip Resistors companies in 2023 (%)Report IncludesThis report presents an overview of India market for MLCC and Thick Film Chip Resistors , sales, revenue and price. Analyses of the India market trends, with historic market revenue/sales data for 2019 - 2023, estimates for 2024, and projections of CAGR through 2030.This report focuses on the MLCC and Thick Film Chip Resistors sales, revenue, market share and industry ranking of main manufacturers, data from 2019 to 2024. Identification of the major stakeholders in the India MLCC and Thick Film Chip Resistors market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues.This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.This report analyzes the segments data by Type, and by Sales Channels, sales, revenue, and price, from 2019 to 2030. Evaluation and forecast the market size for Humidifier sales, projected growth trends, production technology, sales channels and end-user industry.
Segment by Type
• MLCC • Thick Film Chip ResistorsSegment by Applications
• Consumer Electronics • Automotive • Industrial Machinery • Defence • OthersKey Companies covered in this report:• Vishay Intertechnology, Inc. • Murata Manufacturing Co., Ltd. • TDK Corporation • Yageo Corporation • Panasonic Corporation • KOA Corporation • AVX Corporation • TT Electronics • Walsin Technology Corporation • Rohm Semiconductor Fill out the download sample Report form to access the complete list of key players.Competitor Analysis
The report also provides analysis of leading market participants including: • Key companies MLCC and Thick Film Chip Resistors revenues in Indian market, 2019-2024 (Estimated), ($ millions) • Key companies MLCC and Thick Film Chip Resistors revenues share in Indian market, 2023 (%) • Key companies MLCC and Thick Film Chip Resistors sales in Indian market, 2019-2024 (Estimated), • Key companies MLCC and Thick Film Chip Resistors sales share in Indian market, 2023 (%)Drivers
- Growing Electronics Manufacturing Industry: India’s electronics manufacturing sector is rapidly expanding due to initiatives like Make in India and Production-Linked Incentive (PLI) schemes. The demand for components like MLCCs (Multilayer Ceramic Capacitors) and thick film chip resistors is increasing as they are essential in the production of smartphones, consumer electronics, automotive electronics, and industrial devices.
- Rising Demand for Consumer Electronics: India is one of the largest markets for smartphones, televisions, laptops, and other consumer electronics. The rising disposable income and increasing penetration of affordable electronics have boosted the demand for MLCCs and thick film chip resistors, as these components are critical for efficient energy management and circuit stability in electronic devices.
- Automotive Industry Growth: The automotive industry in India is witnessing a shift toward electric vehicles (EVs) and advanced driver-assistance systems (ADAS). MLCCs and thick film chip resistors are crucial in these applications for power management, signal filtering, and noise suppression. The growth of the automotive sector, driven by the government’s push toward electric mobility, is fueling the demand for these components.
- 5G and Telecom Infrastructure Development: The rollout of 5G technology in India is expected to drive the demand for MLCCs and thick film chip resistors. These components are essential for the high-frequency circuits required in 5G devices and network infrastructure. As India gears up for large-scale 5G deployment, the market for these electronic components is likely to experience significant growth.
- Growing Industrial Automation and IoT Adoption: Industrial automation and IoT (Internet of Things) are increasingly being adopted in India’s manufacturing, logistics, and agricultural sectors. MLCCs and thick film chip resistors play a critical role in these applications by ensuring smooth power delivery and signal integrity. As industries invest in automation and connected devices, the demand for these components is rising.
Restraints
- Dependence on Imports: A significant portion of India’s demand for MLCCs and thick film chip resistors is met through imports, particularly from countries like China, Japan, and Taiwan. The heavy reliance on imported components exposes the Indian market to supply chain disruptions, fluctuating prices, and geopolitical risks, which can hamper the market’s growth.
- High Initial Investment in Local Manufacturing: Establishing domestic manufacturing of MLCCs and thick film chip resistors requires substantial capital investment in machinery, technology, and skilled labor. Many companies are hesitant to make these investments due to the initial high costs, slowing the development of a robust local production ecosystem.
- Complex Manufacturing Process: The production of MLCCs and thick film chip resistors involves sophisticated and precise manufacturing processes. Ensuring consistency in quality and performance across large volumes can be challenging, which may hinder the growth of domestic manufacturing and increase production costs.
- Volatility in Raw Material Prices: The prices of raw materials used in the production of MLCCs, such as palladium, nickel, and ceramic materials, are subject to fluctuations in global markets. Similarly, the materials used in thick film chip resistors, such as precious metals, can experience price volatility. This variability in raw material costs can impact the profit margins of manufacturers and lead to price instability for end-users.
Opportunities
- Growth in Electric Vehicles (EVs): The growing focus on electric vehicles in India presents a significant opportunity for the MLCC and thick film chip resistor markets. EVs require a high number of capacitors and resistors for battery management systems, power control units, inverters, and on-board chargers. With increasing investments in EV infrastructure and manufacturing, the demand for these components is set to rise.
- Local Production Incentives: The Indian government’s focus on boosting local electronics manufacturing through the Make in India initiative and Production-Linked Incentive (PLI) schemes provides opportunities for companies to set up domestic production of MLCCs and thick film chip resistors. These policies offer financial incentives and ease of doing business, encouraging investments in local manufacturing, which can reduce dependence on imports.
- Advancement in 5G and IoT Technologies: As 5G networks expand and IoT devices proliferate, the need for advanced, high-performance MLCCs and thick film chip resistors will grow. Companies that can innovate and offer components tailored for high-frequency applications, with improved performance and reliability, stand to benefit significantly.
- Rising Demand from Renewable Energy Sector: The push towards renewable energy in India, with increasing investments in solar and wind power projects, offers new opportunities for MLCCs and thick film chip resistors. These components are vital for managing power conversion, voltage regulation, and signal conditioning in renewable energy systems like inverters and grid control equipment.
- Emerging Smart Cities: India’s smart city initiatives will drive the demand for various electronic components, including MLCCs and thick film chip resistors, as these projects require advanced communication and power management systems. These components will be crucial in the infrastructure for traffic management, public lighting, surveillance, and smart metering systems.
Challenges
- Supply Chain Disruptions: The global semiconductor industry, including MLCCs and thick film chip resistors, has faced supply chain disruptions due to the COVID-19 pandemic and geopolitical tensions. These disruptions have led to component shortages and delivery delays, affecting manufacturers and slowing down production in the Indian market.
- Lack of Skilled Labor: Manufacturing MLCCs and thick film chip resistors requires a highly skilled workforce capable of managing the complex production processes. India faces a shortage of such expertise, which could hamper the growth of domestic manufacturing efforts and impact product quality.
- Increasing Competition: The global MLCC and thick film chip resistor markets are highly competitive, with established players from countries like Japan, South Korea, and China dominating the market. Indian manufacturers face stiff competition from these established brands, making it difficult to capture significant market share, especially when competing on quality and pricing.
- Technological Barriers: The development of advanced MLCCs and thick film chip resistors for high-frequency applications, such as 5G and automotive systems, requires constant innovation and technical know-how. Indian companies may face technological barriers in developing and scaling up production for such specialized components, which could limit their competitiveness in the global market.
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