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

Wire-Wound Segment to Dominate North America Braking Resistors Market during 2019-2027

According to a new market research study on “North America Braking resistors Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Resistors Element Type and End User” is expected to reach US$ 3,310.3 million by 2027 from US$ 2,397.1 million in 2019. The market is estimated to grow at a CAGR of 4.5% from 2020 to 2027. The report provides trends prevailing in the North America braking resistors market along with the drivers and restraints pertaining to the market growth. New energy and power projects witnessing investment rise is the major factor driving the growth of the North America braking resistors market. However, issues associated with excessive motor heating hinders the growth of North America braking resistors market.

The North America baking resistors market is segmented based on resistors element type and end-user. Based on resistors element type, the North America braking resistors market is segmented into wire-wound, edge-wound, stamped grid, and others. Wire-wound segment held the largest market share of North America braking resistors market in 2019. Based on end-user, the North America braking resistors market is segmented into oil and gas, mining, marine, automobile and railway, and others. Automobile and railway segment held the largest market share of North America braking resistors market in 2019.

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.

ABB; Bonitron, Inc; REO AG; Sandvik AB; Schneider Electric; Toshiba International Corporation; Vishay Intertechnology, Inc.; Yaskawa Electric Corporation are among the leading companies in the North America braking resistors market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, REO had launched high power brake resistors with its new REOHM series 155 braking resistors for industrial control cabinets. The product delivers up to 3500 W of continuous power to drives with medium and high power frequency converters, with isolation voltages to 4.4 kV, in a compact design, which helps the product to overcome the problems related to electrical braking resistors.

The report segments the North America Braking Resistors Market as follows:

North America Braking Resistors Market - By Resistor Element Type

• Wire-wound
• Edge-wound
• Stamped Grid
• Others

North America Braking Resistors Market - By End User

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

North America Braking Resistors Market - By Country

• US
• Canada
• Mexico

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