South America Braking Resistors Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Resistor Element Type and End User

South America Braking Resistors Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Resistor Element Type and End User

  • February 2021 •
  • 112 pages •
  • Report ID: 6027859 •
  • Format: PDF
The braking resistors market in SAM is expected to grow from US$ 258.4 million in 2019 to US$ 370.4 million by 2027; it is estimated to grow at a CAGR of 5.0% from 2020 to 2027.
Majority of players in the automotive industry are investing in the manufacturing of electric cars.Various remarkable partnerships between manufacturers and technology firms have recently been undertaken to build technologically sophisticated electric cars.

A few of the key players in the market are aiming to develop electric vehicles.For instance, the Volkswagen Group—including its brands Audi, Bentley, and Porsche—seek to increase their production levels and product portfolio.

The group plans to launch 70 full-electric vehicle models in the next ten years.With these initiatives, the company aims to reduce 40% of emission levels by 2030.

Electric vehicles can radically lessen oil dependence, 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. Also, rising adoption of advanced grids is among the other factors expected to propel the demand for braking resistors in SAM during the forecast period.
In terms of end user, the SAM braking resistors market for the oil and gas segment is expected to grow rapidly during the forecast period.The oil & gas industry uses technologically advanced devices and solutions to optimize product quality and quantity.

The oil & gas industry players use braking resistors in the motors used to extract oil from the wells.These resistors help in controlling the speed of the motor as well as use the extra energy dissipated from the motor.

Additionally, the oil & gas industry endures to grow year-on-year.Therefore, increasing demand for braking resistors in the oil & gas industry is expected to propel the growth of the braking resistor market in the coming years.

Various market players are focusing on the development of advanced braking resistors. For instance, 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. The company’s GRE1, GRE2, and GRE3 series grid resistors are optimized for capacitor pre-charge and discharge, load testing, dynamic braking, neutral grounding and heater, applications in the locomotives, renewable energy systems, harmonic filters, and industrial systems.
The COVID-19 pandemic is adversely affecting various industries.In SAM, Brazil reported the highest number of COVID-19 confirmed cases, followed by Ecuador, Peru, Chile, and Argentina.

The governments of various countries in SAM are taking several initiatives to protect people and contain the spread of the virus in the region through lockdowns, trade bans, and travel restrictions.These measures have a direct impact on the region’s economic growth as the region is facing lower export revenues, both from the drop in commodity prices and reduction in export volumes—especially to China, Europe, and the US, which are important trade partners.

The presence of various developing nations makes SAM one of the major regions for the growth of braking resistors market.Containment measures in several countries in SAM are disrupting economic activities in the manufacturing and service sectors, and the situation is expected to rebound once the outbreak is contained.

The COVID-19 pandemic is adversely affecting the sales of vehicles in countries such as Brazil and Argentina. The outbreak has also resulted in the shutdown of production plants. All these factors are restraining the growth of the electronics & semiconductor, mining, automotive, and oil & gas sectors, which is hindering the growth of the braking resistor market in the region.
The overall SAM 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 SAM 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 SAM braking resistors market. ABB; CRESSALL RESISTORS LTD.; REO AG; Sandvik AB; Schneider Electric; Toshiba International Corporation; Vishay Intertechnology, Inc.; and Yaskawa Electric Corporation are among the players operating in the market.

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