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Europe dominated the braking resistors marketing 2019, and is expected to continue its dominance during the forecast period
NEW YORK, UNITED STATES, March 9, 2022 /EINPresswire.com / -- According to our new research study on“Braking Resistor market to 2027 – Global Analysis and Forecast – by Resistor Element Type and End User,” the market was valued at US$ 7,838.1 million in 2019 and is projected to reach US$ 11,141.9 million by 2027; it is expected to grow at a CAGR of 4.8% during the forecast period of 2020–2027. Rising investment for new energy and power projects is anticipated to drive the market during the forecast period. However, concerns associated with excessive motor heating are likely to hamper the market growth in the coming years.
Strategic Insights
Report CoverageDetails
Market Size Value inUS$ 7,838.1 Million in 2019
Market Size Value byUS$ 11,141.9 Million by 2027
Growth rateCAGR of 4.8% from 2020-2027
Forecast Period2020-2027
Base Year2020
No. of Pages153
No. Tables55
No. of Charts & Figures77
Historical data availableYes
Segments coveredResistor Element Type and End-User
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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North America is one of the major automotive manufacturing hubs in the world. In 2019, North America dominated the braking resistor market owing to a high level of customer awareness and greater acceptance of innovative technologies in this region. The economic growth has positively impacted the sales of luxury vehicles in the region, which, in turn, has supported the growth of the braking resistor market in North America. As per the American Automotive Policy Council, the automakers and their suppliers contribute ~3% to the US's GDP. Countries such as the US and Canada are prominent automotive manufacturers in the region. As per the data provided by the International Organization of Motor Vehicle Manufacturers, Canada manufactured 461,370 cars and the US manufactured 2,512,780 cars in 2019.
Furthermore, the emergence and rapid spread of coronavirus (COVID-19) have paralyzed numerous countries including developed as well as developing. Since the majority of the countries are exercising lockdowns, the demand for braking resistors is decreasing at a prominent rate. This is due to the fact that the key braking resistors purchasing countries have been restricting their investment in these components, and are utilizing a fair percentage of their budget to combat COVID-19. The temporary shutdown of manufacturing facilities is also showcasing a negative trend in the braking resistors market. The continuity of the COVID-19 spread would be severely dangerous for braking resistors market players.
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Growing Adoption of EVs Boosting Demand for Braking Resistors
A braking resistor or dynamic braking resistor (DBR) works as alternative current (AC) variable frequency drives (VFDs) to disintegrate energy generated in the motor with the help of braking torque applied to stop the engine. This resistor has its application in DC bus that requires a voltage of ~800 volts when braking conditions are applied. Dynamic braking resistors are used in DC drive systems and inverters, and also used as electric traction motors in railroad vehicles as generators while slowing down the locomotive. This dynamic resistor is also known as 'rheostatic,' as it generates electrical power, which is regenerative if the power is returned to the supply line and dissipated as heat in brake grid resistors. This resistor generates a braking torque and absorbs the extra energy generated at the time of stopping the electric motors. These resistors have their applications across variable-speed drive systems such as cranes, elevators, and trains.
Braking Resistor Market: Segmental Overview
Based on resistor element type, the braking resistor market is segmented into wire-wound, edge-wound, stamped grid, and others. A wire-wound resistor is a device that can limit or restrict the flow of current in a circuit. A conductive wire of varying alloys and thickness is wound around a non-conductive core to control the resistance value. Owing to advantages such as excellent power dissipation, shock-proofing, and stable resistance, wire-wound resistors are used as power resistors in several applications where a larger amount of power is dissipated.
Braking Resistor Market: Competition Landscape & Key Developments
ABB Ltd.; Sandvik AB (Kanthal); Schneider Electric; Vishay Intertechnology, Inc.; and Yaskawa Electric Corporation are the key companies operating in the global braking resistor market. The leading companies in the market are looking forward to expanding and diversifying their market presence along with acquiring a new customer base and tapping prevailing business opportunities.
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In January 2019, Yaskawa Electric Corporation's R1000 regenerative unit avoids wastage of energy by delivering the excess energy back to the power source to be used by other loads. The R1000 regenerative unit is a safer solution for regeneration than the open heating element used in dynamic braking resistors.
In January 2018, Vishay Intertechnology, Inc. exhibited its latest resistors for oil and gas, industrial, traction, and renewable energy power systems at the 2018 IEEE PES T&D conference and expo.
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