The braking resistors market is expected to grow from US$ 7,838. 1 in 2019 to US$ 11,141. 9 million by 2027; it is estimated to grow at a CAGR of 4. 8% from 2020 to 2027. Rising urbanization is one of the major factors leading to the development of electric trains worldwide, which, in turn is boosting the growth of the braking resistors market globally.
New York, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Braking Resistor Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Resistor Element Type and End-User" - https://www.reportlinker.com/p06027524/?utm_source=GNW
The adoption of electric trains over diesel trains is attributed to factors such as eco-friendly and regenerating energy. The electric trains produce enormous amount of energy when slowing down or stopping the train. Therefore, the dynamic braking resistor is mainly integrated with an electric train’s engine system’s brakes to regain the energy. The kinetic energy is converted into the electric current at the engine’s traction motors in dynamic train braking, and then the current produced is dissipated within the train’s car body in onboard series of braking resistors. The rising demand for motor’s reliability, safety, and durability is driving the growth of the braking resistors market. The development in the energy & power sector upsurges the demand for power transmission projects worldwide that demand braking resistor for quickly stop or slow down the mechanical system by producing a braking torque to the electric motor. The growth in electrical infrastructure projects worldwide is driving the use of braking resistor among several energy & power projects.
Based on resistor element type, the wire-wound segment led the braking resistors market in 2019.Wire-wound resistor offers significant advantages such as excellent power dissipation, shock-proofing, and stable resistance.
This resistor is used across several applications, basically as a power resistor, where larger amounts of power are dissipated.The wire-wound resistor includes a resistive wire, which is wound around a nonconductive material.
Generally, the resistive wire is insulated so that adjacent wires do not short together.The resistance wire’s length, diameter, and resistivity determine the wire-wound resistor’s resistance.
Depending on the application, different types of wire-wound resistors are available in the market, such as precision and power resistor. In terms of geography, in 2019, the global braking resistor market the fastest growing market resides in APAC. Government initiatives—such as “Made in China 2025” and “Make in India”—are propelling the growth of this sector in APAC. Improvements in infrastructure, increase in domestic consumption, and low labor costs in Southeast Asian countries are attracting automotive companies to this region. Based on the pollutant emissions, electric vehicles perform exceptionally well than diesel vehicles—especially in the light and heavy commercial vehicles. Optimizing automated cars is expected to be a significant driver for electric vehicle in various APAC countries such as India, Malaysia, Singapore, and Thailand. Therefore, strong automotive manufacturing sector in these countries is expected to support the growth of the braking resistor market in the region in the coming years.
The COVID-19 outbreak is adversely affecting economies and industries in various countries owing to lockdowns, travel bans, and business shutdowns.The strong presence of manufacturing and production facilities of various market players in Japan and China, which has multiple production facilities around the city, witnessed a decline in its production of braking resistors.
In addition, the subsequent nation-wide lockdown is disrupting the automotive production capabilities and supply chain activities globally, which is halting the demand for braking resistors from various automotive manufacturers and customers. Thus, the global braking resistors market is witnessing a significant decline in revenue generation.
The overall braking resistors market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the braking resistors market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the braking resistors market. ABB Ltd.; Bonitron; Captech Pty Ltd.; CRESSALL RESISTORS LTD.; REO AG; Sandvik AB(Kanthal); Schneider Electric; Toshiba International Corporation; Vishay Intertechnology, Inc.; and Yaskawa Electric Corporation are among the players operating in the market.
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