Potentiometer Market

Potentiometer Market Snapshot

The global potentiometer market is estimated to exceed a valuation of US$ 1.7 Bn by 2022, expanding at a CAGR of 5% to 6% during the forecast period 2022-2032. The demand for potentiometers is estimated to total US$ 2.6 Bn by the end of 2032, in comparison to the US$ 1.6 Bn registered in the year 2021. The digital potentiometers are projected to remain highly sought-after, exhibiting sales growth at a CAGR of 4% to 5% between 2022 and 2032.

Potentiometers are electronic instruments used to determine the electromotive force. These instruments have three-terminal resistors having resistance that form an adjustable voltage divider, enabling them to control the movement and flow of the electric current. They are also used for measuring the displacement of current in any direction.

Which are Some Key Opportunities Elevating the Growth in the Potentiometer Market

Potentiometers are gaining huge popularity across diverse industries owing to their ability to provide assistance in temperature extremes, freedom from vibration or shock, and the capability to control current in a closed-loop. These electronic instruments are finding a wide range of applications across consumer electronics healthcare, aerospace & defense, home appliances, telecommunication, and other industries.

In addition to this, the introduction of novel potentiometers with higher linearity, excellent reliability, better temperature stability, long operational life, and other attributes is projected to bolster the sales in the global market.

What are the Challenges Creating Difficult Roads for Potentiometer Market Growth

High cost of potentiometers and increasing availability of low-cost, portable, and direct measurement instruments such as voltmeter is hindering the demand in the global market. In addition to this, slow operation, low accuracy, limited bandwidth, and high chances of wear and friction due to the sliding of wipers across the resistive elements are further restraining the sales of potentiometers in the market.

Why is North America Capturing the Maximum Revenue Share in the Global Potentiometer Market

North America is estimated to emerge as the most lucrative market potentiometer during the forecast period 2022-2032, reveals FMI.

There is a swift rise in sales of automotive vehicles across North America, on account of increasing customer spending on comfort traveling and growing introduction of novel automobiles with innovative features. For instance, according to the Bureau of Transportation Statistics, nearly 2.56 Mn passenger cars and 9 Mn commercial vehicles were reported to be sold across the U.S. in 2020.

As potentiometers are extensively used as throttle position sensors to regulate the speed of the car, this rise in sales of automotive vehicles is estimated to spur the demand in the North America market.

Nikhil Kaitwade

Principal Consultant

Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Talk to Analyst

How is Europe Contributing to the Growth of the Potentiometer Market

Future Market Insights states that Europe is anticipated to account for a significant share in the global potentiometers market between 2022 and 2032.  

Demand for potentiometers is surging at a rapid pace, owing to the increasing adoption across consumer electronics and automotive industries for various applications such as sensor trimming, calibration, and audio level control for matching line impedances. Hence, leading players are emphasizing on launching novel products to cater to the growing demand.

For instance, in 2019, TT Electronics, a U.K.-based manufacturer of electronic components announced introducing new PSM Series of miniature slide potentiometers that offer space-saving, durable, long-life performance at affordable cost for medical, consumer electronics, audio, and industrial applications. A multiplicity of such new product launches are projected to accelerate the sale potentiometer in the Europe market.

Market Competition

Some of the leading players in the potentiometer market are Microchip Technology Inc, Parallax Inc, Renesas Electronics Corporation, Texas Instruments, Maxim Integrated Analog Device, Tangio Printed Electronics, Omeg Limited, Everson Technology Ltd., Nidec Copal Electronics, Panasonic, TT Electronics, Taiwan Alpha Electronic, ON Semiconductor, and others.

Leading players in the global potentiometer market are aiming at launching high performance products and capacity expansion to gain edge in the highly competitive market

Become a MarketNgage Insider

An unified Market Research Subscription Platform, built for today’s disparate research needs.

Sign-Up

Report Scope

Key Segments Profiled in the Potentiometer Industry Survey

By Product Type:

• Rotary
• Linear
• Plastic Film
• Carbon Film
• Wire Wound

By Technology Type:

• Digital
• Analog

By Application Type:

• Televisions
• Computers
• Measuring Devices
• Calibrators & Tuners

By End Use:

• Automotive
• Consumer Electronics
• Aerospace & Defense
• Healthcare
• Telecommunication
• Home Appliances
• Others

By Region:

• North America
• Latin America
• Europe
• CIS & Russia
• APEJ
• Japan
• Middle East and Africa