Report : South America Braking Resistors Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Resistor Element Type (Wire-wound, Edge-wound, Stamped Grid, and Others) and End User (Oil and Gas, Mining, Marine, Automobile and Railway, Energy, and Others)
Oil & Gas Segment is Expected to be Fastest Growing During Forecast Period for SAM Region
According to a new market research study on “SAM 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$ 370.4 million by 2027 from US$ 258.4 million in 2019. The market is estimated to grow at a CAGR of 5.0% from 2020 to 2027. The report provides trends prevailing in the SAM braking resistors market along with the drivers and restraints pertaining to the market growth. Rising adoption of advanced grids is the major factor driving the growth of the SAM braking resistors market. However, high motor heating issues hinders the growth of SAM braking resistors market.
The SAM baking resistors market is segmented based on resistors element type and end-user. Based on resistors element type, the SAM braking resistors market is segmented into wire-wound, edge-wound, stamped grid, and others. Wire-wound segment held the largest market share of SAM braking resistors market in 2019. Based on end-user, the SAM 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 SAM braking resistors market in 2019.
The COVID-19 pandemic is adversely affecting various industries. In SAM, Brazil reported the highest number of COVID-19 confirmed cases, followed by Ecuador, Peru, Chile, and Argentina. The governments of various countries in SAM are taking several initiatives to protect people and contain the spread of the virus in the region through lockdowns, trade bans, and travel restrictions. These measures have a direct impact on the region’s economic growth as the region is facing lower export revenues, both from the drop in commodity prices and reduction in export volumes—especially to China, Europe, and the US, which are important trade partners. The presence of various developing nations makes SAM one of the major regions for the growth of braking resistors market. Containment measures in several countries in SAM are disrupting economic activities in the manufacturing and service sectors, and the situation is expected to rebound once the outbreak is contained. The COVID-19 pandemic is adversely affecting the sales of vehicles in countries such as Brazil and Argentina. The outbreak has also resulted in the shutdown of production plants. All these factors are restraining the growth of the electronics & semiconductor, mining, automotive, and oil & gas sectors, which is hindering the growth of the braking resistor market in the region.
ABB; 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 SAM 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, Yaskawa Electric Corporation’s R1000 regenerative unit helped to save energy.