Braking Resistor Market Size, Trends and Growth Analysis by 2027

The braking resistors market was valued at approximately US$ 7,838.1 million in 2019 and is anticipated to grow to around US$ 11,141.9 million by 2027, reflecting a compound annual growth rate (CAGR) of 4.8% from 2020 to 2027.

One of the primary drivers of this market's expansion is the increasing urbanization, which significantly contributes to the global development of electric trains. The shift from diesel to electric trains is largely due to their environmentally friendly nature and the ability to regenerate energy. When electric trains decelerate or come to a halt, they generate substantial energy. Consequently, dynamic braking resistors are integrated into the braking systems of electric train engines to harness this energy. During dynamic braking, the kinetic energy is transformed into electric current via the traction motors of the engine, and this generated current is then dissipated through a series of onboard braking resistors located within the train's car body. The growing emphasis on the reliability, safety, and durability of motors is further propelling the demand for braking resistors. Additionally, advancements in the energy and power sectors are increasing the need for power transmission projects globally, which require braking resistors to effectively stop or slow down mechanical systems by generating braking torque for electric motors. The expansion of electrical infrastructure projects worldwide is also contributing to the rising utilization of braking resistors across various energy and power initiatives.

In terms of resistor element types, the wire-wound segment dominated the braking resistors market in 2019. Wire-wound resistors are favored for their superior power dissipation capabilities, shock resistance, and stable resistance characteristics. These resistors are commonly employed in various applications, primarily as power resistors where significant power dissipation is necessary. A wire-wound resistor consists of a resistive wire coiled around a non-conductive substrate. Typically, the resistive wire is insulated to prevent short circuits between adjacent wires. The resistance of a wire-wound resistor is determined by the length, diameter, and resistivity of the resistance wire. Various types of wire-wound resistors, including precision and power resistors, are available in the market to cater to different applications. Geographically, the Asia-Pacific (APAC) region was identified as the fastest-growing market for braking resistors in 2019. Government initiatives such as "Made in China 2025" and "Make in India" are driving growth in this sector within APAC. Enhancements in infrastructure, rising domestic consumption, and lower labor costs in Southeast Asian nations are attracting automotive manufacturers to this region. Electric vehicles, particularly in light and heavy commercial segments, outperform diesel vehicles in terms of pollutant emissions. The optimization of automated vehicles is expected to significantly drive the electric vehicle market in various APAC countries, including India, Malaysia, Singapore, and Thailand. Consequently, the robust automotive manufacturing sector in these nations is projected to bolster the growth of the braking resistors market in the region in the forthcoming years.

The COVID-19 pandemic has had a detrimental impact on economies and industries across numerous countries due to lockdowns, travel restrictions, and business closures. The substantial presence of manufacturing and production facilities among various market players in Japan and China, which host multiple production sites, has led to a decline in the production of braking resistors. Furthermore, the nationwide lockdowns have disrupted automotive production capabilities and global supply chain activities, resulting in a decreased demand for braking resistors from automotive manufacturers and customers alike. As a result, the global braking resistors market is experiencing a notable decline in revenue generation.

The overall size of the braking resistors market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aimed to provide an overview and forecast of the braking resistors market across all segments and regions. Additionally, numerous primary interviews were conducted with industry participants and commentators to validate the data and gain further analytical insights into the subject matter. Participants in this process included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the braking resistors market. Key players in the market include ABB Ltd., Bonitron, Captech Pty Ltd., CRESSALL RESISTORS LTD., REO AG, Sandvik AB (Kanthal), Schneider Electric, Toshiba International Corporation, Vishay Intertechnology, Inc., and Yaskawa Electric Corporation.