North America Braking Resistors Market to Grow at a CAGR of 4.5% to reach US$ 3,310.3 million from 2020 to 2027
The braking resistors market in North America 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 US, Canada, and Mexico are major economies in North America. New energy and power projects witnessing investment rise is driving the North America braking resistors market in a positive way. 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 North America market of braking resistors. Renewable energy plays a significant role for offering access to electricity. Therefore, development in the energy & power sector upsurges the demand for power transmission projects that demand braking resistors for quickly stop or slow down the mechanical system by producing a braking torque to the electric motor. The growth in electrical infrastructure projects is driving the use of braking resistors among several energy & power projects. Coal-fired thermal power plants, wind power generation through turbines, and nuclear power plants dominate the energy generation sector. However, the demand for braking resistors is high among the power plants as kinetic energy is transformed back into electrical energy. Thus, braking resistors are used to decelerate or slow down an electric motor and the excessive energy generated is dissipated by using these resistors. Owing to the continuous rise in demand for power generation, nuclear facility operators are focusing on increasing their production capacities or growing the number of production plants. Increasing investments in the energy & power sector by the governments across North America are expected to boost the growth of the braking resistors market. With the rise in number of nuclear power plants starting their operations, the demand for braking resistors is anticipated to increase, thereby driving the market.
North America is adversely affected by the COVID-19 pandemic. The US is the worst-hit country in North America, with infected individuals facing severe health conditions across the country. The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders. Majority of the manufacturing plants are shut down, municipalities are functioning slowly as compared to past, and the electronic & semiconductor and automotive industries are at a halt, which is negatively impacting the braking resistors market. In terms of patient count and death toll, Canada and Mexico are still at a nascent stage in comparison to the US. However, the manufacturing plants and several other businesses are functioning slowly, which is negatively impacting on the braking resistors market. The coronavirus outbreak will have a limited short-term impact on the market. The short-term effect of coronavirus would not affect the recovery of overall sales in the electronics and semiconductor industry in 2020; this is mainly because of the mounting requirement of fuel-efficient vehicles by various companies in the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America braking resistors market. The North America braking resistors market is expected to grow at a good CAGR during the forecast period.
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North America Braking Resistors Market Segmentation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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
North America Braking Resistors Market - Companies Mentioned
- ABB
- Bonitron, Inc
- REO AG
- Sandvik AB
- Schneider Electric
- Toshiba International Corporation
- Vishay Intertechnology, Inc.
- Yaskawa Electric Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Resistor Element Type and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Braking Resistors Market – By Resistor Element Type
1.3.2 North America Braking Resistors Market – By End User
1.3.3 North America Braking Resistors Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Braking Resistor Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Braking Resistor –Market Dynamics
5.1 Market Drivers
5.1.1 New Energy & Power Projects Witnessing Investment Rise
5.1.2 Rising Trends Toward EVs is Boosting the Demand for Braking Resistor
5.2 Market Restraints
5.2.1 Issues Regarding the Excessive Motor Heating
5.3 Market Opportunities
5.3.1 Growing Mining Sector
5.4 Market Trends
5.4.1 Rising Acceptance of Smart Grids
5.5 Impact Analysis of Drivers and Restraints
6. Braking Resistor Market – North America Analysis
6.1 North America Braking Resistors Market Overview
6.2 North America Braking Resistor Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Market Players Ranking
7. North America Braking Resistor Market Analysis – By Resistor Element Type
7.1 Overview
7.2 North America Braking Resistor Market Breakdown, By Resistor Element Type, 2019 & 2027 (%)
7.3 Wire-wound
7.3.1 Overview
7.3.2 Wire-Wound Market Forecast and Analysis
7.4 Edge-Wound
7.4.1 Overview
7.4.2 Edge-Wound Market Forecast and Analysis
7.5 Stamped Grid
7.5.1 Overview
7.5.2 Stamped Grid Market Forecast and Analysis
7.6 Others
7.6.1 Overview
7.6.2 Other Market Forecast and Analysis
8. North America Braking Resistor Market Analysis – By End-User
8.1 Overview
8.2 North America Braking Resistor Market Breakdown, By End-User, 2019 & 2027 (%)
8.3 Oil and Gas
8.3.1 Overview
8.3.2 Oil and Gas Market Forecast and Analysis
8.4 Mining
8.4.1 Overview
8.4.2 Mining Market Forecast and Analysis
8.5 Marine
8.5.1 Overview
8.5.2 Marine Market Forecast and Analysis
8.6 Automobile and Railways
8.6.1 Overview
8.6.2 Automobile and Railways Market Forecast and Analysis
8.7 Energy
8.7.1 Overview
8.7.2 Energy Market Forecast and Analysis
8.8 Others
8.8.1 Overview
8.8.2 Others Market Forecast and Analysis
9. North America Braking Resistor Market – Country Analysis
9.1 Overview
9.1.1 North America: Braking Resistor Market, By Country
9.1.1.1 US: Braking Resistor Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 US: Braking Resistor Market, By Resistant Element Type
9.1.1.1.2 US: Braking Resistor Market, By End-User
9.1.1.2 Canada: Braking Resistor Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Canada: Braking Resistor Market, By Resistant Element Type
9.1.1.2.2 Canada: Braking Resistor Market, By End-User
9.1.1.3 Mexico: Braking Resistor Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Mexico: Braking Resistor Market, By Resistant Element Type
9.1.1.3.2 Mexico: Braking Resistor Market, By End-User
10. North America Braking Resistor Market- COVID-19 Impact Analysis
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 ABB Ltd.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Bonitron
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 REO AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Sandvik AB(Kanthal)
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Schneider Electric
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Toshiba International Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Vishay Intertechnology, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Yaskawa Electric Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Braking Resistors Market – Revenue and Forecast to 2027 US$ Mn)
Table 2. US Braking Resistor Market, By Resistant Element Type– Revenue and Forecast to 2027 (US$ Million)
Table 3. US Braking Resistor Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 4. Canada Braking Resistor Market, By Resistant Element Type– Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada Braking Resistor Market, By End-User– Revenue and Forecast to 2027 (US$ Million)
Table 6. Mexico Braking Resistor Market, By Resistant Element Type– Revenue and Forecast to 2027 (US$ Million)
Table 7. Mexico Braking Resistor Market, By End-User– Revenue and Forecast to 2027 (US$ Million)
LIST OF FIGURES
Figure 1. North America Braking Resistors Market Segmentation
Figure 2. North America Braking Resistors Market Segmentation – By Country
Figure 3. North America Braking Resistors Market – Country Analysis
Figure 4. North America Braking Resistors Market - Market Overview
Figure 5. North America Braking Resistors Market by Resistor Element Type
Figure 6. North America Braking Resistors Market by End User
Figure 7. North America Braking Resistors Market by Country
Figure 8. North America: PEST Analysis
Figure 9. Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. North America Braking Resistor Market Impact Analysis of Drivers and Restraints
Figure 12. North America: Braking Resistor Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. North America Braking Resistor Market Breakdown, Resistor Element Type, 2019 & 2027 (%)
Figure 14. North America Wire-Wound Market Revenue and Forecast to 2027 (US$ Mn)
Figure 15. North America Edge-Wound Market Revenue and Forecast to 2027 (US$ Mn)
Figure 16. North America Stamped Grid Market Revenue and Forecast to 2027 (US$ Mn)
Figure 17. North America Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 18. North America Braking Resistor Market Breakdown, End-User, 2019 & 2027 (%)
Figure 19. North America Oil and Gas Market Revenue and Forecast to 2027 (US$ Mn)
Figure 20. North America Mining Market Revenue and Forecast to 2027 (US$ Mn)
Figure 21. North America Marine Market Revenue and Forecast to 2027 (US$ Mn)
Figure 22. North America Automobile and Railways Market Revenue and Forecast to 2027 (US$ Mn)
Figure 23. North America Energy Market Revenue and Forecast to 2027 (US$ Mn)
Figure 24. North America Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 25. North America Braking Resistor Market Revenue Share, By Country (2019 and 2027)
Figure 26. US: Braking Resistor Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Canada: Braking Resistor Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Mexico: Braking Resistor Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic in North American Country Markets
- ABB
- Bonitron, Inc
- REO AG
- Sandvik AB
- Schneider Electric
- Toshiba International Corporation
- Vishay Intertechnology, Inc.
- 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.
- 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.
- 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:
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.
- 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.
- 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.
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