The North America braking resistors market is expected to grow from US$ 2,397.1 million in 2019 to US$ 3,310.3 million by 2027; it is estimated to grow at a CAGR of 4.5% from 2020 to 2027. The major players in the automotive sector are investing in the production of electric vehicles (EVs).Recently, remarkable collaborations have been undertaken by automakers and tech companies to develop technologically advanced electric vehicles.
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.
The electric vehicles use regenerative braking that recovers energy lost during braking and sends it back to the battery, as an alternative, it is beneficial to use braking resistors to discharge the excess energy produced.These resistors are useful in case of any electrical fault, as well as it reduces the servicing costs due to diminished wear on the friction braking system.
Moreover, the energy dissipated during dynamic braking into the resistors 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. Electric vehicles can radically lower oil dependency, and these do not emit any air pollutants when operating in all-electric modes. Therefore, the increasing demand for an electric vehicle boosts the demand for braking resistors across North America. Also, rising investment in new energy and power projects is among the other factors expected to propel the demand for braking resistors in North America during the forecast period. In terms of resistor element type, the wire-wound segment led the North America braking resistors market in 2019.Wire-wound resistors offer significant advantages such as excellent power dissipation, shock-proofing, and stable resistance.
These resistors are used across several applications—basically as a power resistors, where larger amounts of power are dissipated.The wire-wound resistors 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 resistors’ resistance.
Depending on the application, different types of wire-wound resistors are available in the market, such as precision and power resistors. North America is adversely affected by the COVID-19 outbreak.The US is the worst-hit country in North America.
The continuous growth in the number of confirmed cases has led the government to impose lockdown across the nation’s borders.Majority of the manufacturing plants are closed.
Municipalities are functioning slowly as compared to past; also, the electronic & semiconductor and automotive industries are at a halt, which is hindering the braking resistors market.In terms of patient count and death toll, Canada and Mexico are still at a nascent stage than the US.
The outbreak would have a limited short-term impact on the market in the coming months. The short-term effect of the crisis would not affect the recovery of overall sales in the electronics & semiconductor industry in the next few quarters owing to the mounting requirement of fuel-efficient vehicles by various companies in the region. The overall North America 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 North America 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 North America braking resistors market. ABB; Bonitron, Inc; REO AG; Sandvik AB; Schneider Electric; Toshiba International Corporation; Vishay Intertechnology, Inc.; and Yaskawa Electric Corporation are among the players operating in the North America braking resistors market.
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