Braking Resistor Market to Grow at a CAGR of 4.8% to reach US$ 11,141.9 Mn from 2019 to 2027

Braking Resistor Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Resistor Element Type (Wire-Wound, Edge-Wound, Stamped Grid, and Others) and End-User (Oil and Gas, Mining, Marine, Automobile and Railway, Energy, and Others)

Publication Month : Jan 2021

  • Report Code : TIPRE00013134
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 153
Inquire Before Buy

PRICING

$4550

$2730

The braking resistors 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% from 2020 to 2027.

A braking resistor or dynamic braking resistors (DBR's) work 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 the DC bus, which requires a voltage of around 800 volts when the braking conditions are applied. Dynamic braking resistors are used in DC drive systems and inverters, and also used as the electric traction motors in the railroad vehicle 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 application across variable-speed drive systems such as cranes, elevators, and trains. Owing to the growing urbanization and industrial growth, energy consumption has increased manifolds. Therefore, to meet the rising requirements for power, the development of sub-transmission and intrastate transmission networks is increasing. The escalating demand for energy & power, owing to growing household incomes and increasing manufacturing and heavy industries, is boosting the market of braking resistor. Renewable energy plays a significant role for offering access to electricity. According to the International Energy Agency (IEA), the electricity demand is projected to grow at 2.1% per year by 2040 across the world. The demand for electricity in the Southeast Asia has been among the highest across the globe; it has potential for the renewable energy sector. All these factors are anticipated to boost the growth of the braking resistors market during the forecast period.

Europe dominated the braking resistors market in 2019, and is expected to continue its dominance during the forecast period. Tech investments in Europe increased in 2019 despite the economic slowdown caused by the tension between the UK and European Union (EU). Automotive manufacturers have 304 vehicle assembly plants and production plants in 27 countries across Europe. In 2019, the production of 4,371,499 units of commercial and passenger vehicles was reported. Growing production of commercial and passenger vehicles surges the demand for integration of braking resistors.

Impact of COVID-19 Pandemic on Braking Resistors Market

The emergence and rapid spread of the novel coronavirus (COVID-19) has paralyzed numerous countries including developed as well as developing. The continuous surge in count of infected patients is threatening several industries across the globe. As of December 2020, the US, India, Brazil, Russia, and France are a few of the worst affected countries in terms of COVID-19 confirmed cases and reported deaths. The outbreak is adversely affecting economies and industries in various countries owing to lockdowns, travel bans, and business shutdowns. Moreover, the demand for braking resistors is decreasing at a prominent rate because the key braking resistors purchasing countries are lowering their investments in these components and utilizing a fair percentage of their budget to combat the COVID-19 outbreak. The temporary shutdown of manufacturing facilities is also hindering the growth of the braking resistors market. The continuity of the COVID-19 spread would restrain the growth of the braking resistors market players in coming years.

Lucrative Regions for Braking Resistors Market

Lucrative Regions for Braking Resistors Market

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insights
Mounting Inclination toward EVs Boosts Demand for Braking Resistor

The major players in the automotive sector are investing in the production of electric vehicles. Recently, remarkable collaborations have been undertaken between automakers and tech companies to develop technologically advanced electric vehicles. For instance, in December 2019, Fiat Chrysler collaborated with PSA Group, a French automaker to focus on electric vehicles' development. Further, increasing awareness about the rising levels of greenhouse gas emissions and the negative impacts of conventional vehicles are the major factors that encourage key players to invest in electric vehicles. Several major companies are looking forward to invest in startups, which can eventually help them co-create products in the future. For example, in March 2019, Hyundai, an automotive manufacturer headquartered in Seoul, South Korea, with its subsidiary Kia, invested US$ 300 million in Ola Electric to manufacture mobility solutions and cars specifically for the Indian population. The electric vehicles use regenerative braking, which recovers energy lost during braking and sends it back to the battery. As an alternative, it is beneficial to use a braking resistor to discharge the excess energy produced. These resistors are useful in case of any electrical fault, as well as to reduce the servicing costs due to diminished wear on the friction braking system. Moreover, the energy dissipated during dynamic braking into the resistor is also being used to heat the vehicle's trailer or cabin; therefore, decreasing the requirement for electrical heating that places an extra load on the battery.

Resistor Element Type-Based Market Insights

Based on resistor element type, the global braking resistors market is segmented into wire-wound, edge-wound, stamped grid, and others. 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.

Braking Resistors Market, by Resistor Element Type – 2019 and 2027

Braking Resistors Market, by Resistor Element Type – 2019 and 2027

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

End-User-Based Market Insights

Based on end-user, the braking resistors market is segmented into oil and gas, mining, marine, automobile and railways, energy, and others. Rise in demand for passenger cars and commercial vehicles, mostly in developing countries, is bolstering the need for braking resistors to control the speed and use the excess amount of energy dissipated. In 2014, China reported the production of 24 million vehicles, which is anticipated to increase and reach to around 364 and 607 million by 2030 and 2050, respectively. Several manufacturers worldwide are involved in developing different models of vehicles that demand the integration of braking resistors. Therefore, the rising integration of braking resistors across the automotive and railways market accelerates the braking resistors market growth.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Braking Resistor Market: Strategic Insights

braking-resistors-market
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
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Product development is the commonly adopted strategy by companies to expand their product portfolio. ABB Ltd., Vishay, Schneider Electric, Kanthal, and Yashkawa are among the key players implementing strategies to enlarge the customer base and gain significant share in the global braking resistors market, which in turn permits them to maintain their brand name. A few of the recent key developments are:

  • In 2019, Yaskawa Electric Corporation’s R1000 regenerative unit avoids energy to waste. Instead, it is delivered back to the power source that could 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 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.

Braking Resistors Market Segmentation:

By Resistor Element Type

    • Wirewound
    • Edge-wound
    • Stamped Grid
    • Others

By End-User

    • Oil and Gas
    • Mining
    • Marine
    • Automobile and Railway
    • Energy
    • Others

Company Profiles

  • ABB Ltd.
  • Bonitron
  • Captech Pty Ltd.
  • CRESSALL RESISTORS LTD.
  • REO AG
  • Sandvik AB(Kanthal)
  • Schneider Electric
  • Toshiba International Corporation
  • Vishay Intertechnology, Inc.
  • Yaskawa Electric Corporation
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Resistor Element Type and End-User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are reasons behind braking resistor market growth?

The major players in the automotive sector are focusing on investing in the production of electric vehicles. Recently, remarkable collaborations have been undertaken between automakers and tech companies to develop technologically advanced electric vehicles. The electric vehicles use regenerative braking, which recovers energy lost during braking and sends it back to the battery,. As an alternative, it is beneficial to use a braking resistor to discharge the excess energy produced. These resistors are useful in case of any electrical fault, as well as to reduce the servicing costs due to diminished wear on the friction braking system. Moreover, the energy dissipated during dynamic braking into the resistor is also being used to heat the vehicle's trailer or cabin; therefore, decreasing the requirement for electrical heating that places an extra load on the battery

What are market opportunities for braking resistor?

Infrastructure-driven growth in countries such as China has resulted in high economic growth and increased the demand for commodities such as iron ore, coal, manganese, cobalt, and copper. The exploration activities for necessary minerals and metals are vital for the overall growth of the mining industry. For instance, gold mines in South Africa, Russia, Indonesia, the US, and other countries are expected to draw attention for more mining activities. Similarly, China and South Africa are the major countries known for a significant number of iron ore production sites. To continue with mining activities, appropriate equipment will be necessary for greater productivity while ensuring a low risk of fatalities. The application of cranes, heavy mining machines, conveyors, and mining shaft elevators, among others, plays a vital role in handling the overall operation in the mines efficiently is anticipated to offer ample growth opportunities for the global braking resistor market players.

Which end-user type is expected to dominate the market in the forecast period?

The braking resistor market is led by automotive and railway segment with highest share and is expected to dominate in the forecast period. Several manufacturers worldwide are involved in developing different models of vehicles, which demands the integration of braking resistors. Furthermore, the development of electric vehicles and autonomous vehicles globally, is one of the major driving factors for the braking resistor market. Similarly, rising investments to develop electric trains in different countries across the globe is also boosting the demand of braking resistor. Thus, the growth of the automotive and railways industry is likely to drive the braking resistor market.

The List of Companies - Braking Resistor Market

  1. ABB Ltd.
  2. Bonitron
  3. Captech Pty Ltd.
  4. CRESSALL RESISTORS LTD.
  5. REO AG
  6. Sandvik AB(Kanthal)
  7. Schneider Electric
  8. Toshiba International Corporation
  9. Vishay Intertechnology, Inc.
  10. Yaskawa Electric Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Braking Resistor Market