The braking resistors market in APAC is expected to grow from US$ 2,045.1 million in 2019 to US$ 3,170.9 million by 2027; it is estimated to grow at a CAGR of 6.0% from 2020 to 2027.
The development of smart grid has become the most significant technological revolution in the past years.Compared to the conventional grid, the smart grid is an automated, technology-driven, highly integrated, and modernized grid due to such power electronics.
The growing deployment of smart grid is expected to play a significant role in transforming the electrical networks and electricity generation during the forecast period.Smart grids facilitate the quicker restoration of electricity after power disturbances and help reduce management and operational costs of utilities; this ultimately lowers power costs for consumers.
Moreover, various initiatives advancing technological landscape in the energy sector are likely to drive market growth during the forecast period.The grid’s growing requirements are forcing small generating units to contribute to stabilizing the electrical system.
With the constant augmentation in the penetration of renewable energy sources, high dynamic processes have to be resisted. Thus, to cope with these requirements, the integration of braking resistor-based out-of-step protection system for a smart-grid is used widely. In addition, a smart grid can reduce carbon footprints by integrating renewable energy sources, energy storage, and plug-in hybrid electric vehicles with the primary grid. Thus, the implementation of smart grids results in the increasing use of braking resistors. Therefore, the APAC braking resistors market is propelling. Also, rapidly growing mining sector is among the other factors expected to drive the demand for braking resistors in APAC during the forecast period.
In terms of resistor element type, the APAC braking resistors market for edge-wound segment is expected to grow at rapid pace during the forecast period.An edge-wound resistor consists of a coil of edge wound heavy resistance alloy ribbon, mounting hardware along with welded terminals, and grooved insulators supporting this coil.
This resistor offers a voltage supply of a minimum of 500 W.It is also available in diversified power voltages such as 750W, 1000W, 1250W, and 1500W.
The edge-wound resistor is designed in a spiral and compact style that permits variable power supply voltage to the electronic devices.They are well equipped with terminal clamp, alternate mountings and have stainless steel terminals & elements.
This resistor is surface coated with corrosion resistant powder paint so as to avoid oxidation reaction. The industrial resistor has high insulation and excellent tolerance resistance. It is vibration and shockproof. Thus, these resistors can easily get installed in a humidity chamber and medical equipment.
APAC is adversely affected by the COVID-19 pandemic.The region is characterized by a large number of developing countries, positive economic outlook, high industrial presence, huge population, and rise in disposable income.
All these factors make APAC a major growth driving region for various markets, including the braking resistors market.The consequence and impact of the outbreak can be even worse across the region, and it totally depends on the spread of the virus.
The government of APAC is taking possible steps to reduce its effects by announcing lockdown that negatively impacts the revenue generated by the market.India, Japan and various other countries including South Korea are still combating the virus, which is hindering the growth of the braking resistors market.
In addition, the lockdown is hampering the automotive sector in India. However, China has been able to stabilize the spread of the novel coronavirus, and industries in the country are up and running. This is a positive sign toward the stabilization of the braking resistors market. China’s manufacturing industry is likely to observe labor shortage, which would lead to a disruption in the supply of braking resistors in APAC in the coming years.
The overall APAC 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 APAC 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 APAC braking resistors market. ABB; Captech Pty Ltd; 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.