DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Braking Resistors Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Resistor Element Type and End User" report has been added to ResearchAndMarkets.com's offering.
Edge-Wound Segment is Expected to be Fastest Growing During Forecast Period for APAC Region
APAC Braking resistors Market is expected to reach US$ 3,170.9 million by 2027 from US$ 2,045.1 million in 2019. The market is estimated to grow at a CAGR of 6.0% from 2020 to 2027.
The report provides trends prevailing in the APAC braking resistors market along with the drivers and restraints pertaining to the market growth. Mining sector growing at huge speed and this is the major factor driving the growth of the APAC braking resistors market. However, issues associated with unnecessary heating of motors hinders the growth of APAC braking resistors market.
The APAC baking resistors market is segmented based on resistors element type and end-user. Based on resistors element type, the APAC braking resistors market is segmented into wire-wound, edge-wound, stamped grid, and others. Wire-wound segment held the largest market share of APAC braking resistors market in 2019. Based on end-user, the APAC 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 APAC braking resistors market in 2019.
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.
ABB; Captech Pty Ltd; CRESSALL RESISTORS LTD.; REO AG; Sandvik AB; Schneider Electric; Toshiba International Corporation; Vishay Intertechnology, Inc.; Yaskawa Electric Corporation are among the leading companies in the APAC 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.
- Funding Rise in New Energies & power projects
- Shifting Trend for EVs Enhances the Demand for Braking Resistors
- Concern About Unnecessary Heating of Motors
- Mining Sector Growing at Huge Speed
- Advanced Grids at Significant Acceptance
The report segments the APAC Braking Resistors Market as follows:
APAC Braking Resistors Market - By Resistor Element Type
- Stamped Grid
APAC Braking Resistors Market - By End User
- Oil and Gas
- Mining, Marine
- Automobile and Railway
APAC Braking Resistors Market - By Country
- South Korea
- Rest of APAC
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC braking resistors market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC braking resistors market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the braking resistors market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
- Captech Pty Ltd.
- CRESSALL RESISTORS LTD.
- REO AG
- Sandvik AB
- Schneider Electric
- Toshiba International Corporation
- Vishay Intertechnology, Inc.
- Yaskawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/blm59l