South America Braking Resistors Market
The region’s automotive manufacturing sector is witnessing growth owing to the presence of a large number of original equipment manufacturers (OEMs) and automakers in the region. Brazil benefits from being a potentially large domestic market with low vehicle ownership and a growing economy. Additionally, rising automotive production is supporting the growth of the braking resistor market in the region. For instance, as per Organisation Internationale des Constructeurs d'Automobiles (OICA), Brazil witnessed a growth of 2.2% y-o-y in the total vehicle production in 2019 and produced 2,448,490 cars. Further, the region has presence of a few major automakers, such as Volkswagen, General Motors, Hyundai, Toyota, Peugeot, Ford, and Renault. The national regulatory bodies of various countries in the region have realized the importance of the automotive sector. They are taking initiatives for the development of the automotive industry. For instance, the Brazilian government has formulated favorable trade investment policies to encourage private investments. The Brazilian government has also made provisions to give exemption to investors from custom duties and other taxes on the purchase of certain infrastructure and capital goods. Thus, the government initiatives to support the growth of the automotive sector would strengthen the automotive manufacturing industry in the region, which is likely to support the growth of the braking resistor market in the region. Also, rising adoption of advanced grids is expected to create a significant demand for braking resistors in the coming years, which is further anticipated to drive the SAM braking resistors market.
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.
Strategic insights for the South America Braking Resistors provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 258.4 Million |
| Market Size by 2027 | US$ 370.4 Million |
| Global CAGR (2020 - 2027) | 5.0% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Resistor Element Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Braking Resistors refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The braking resistors market in SAM is expected to grow from US$ 258.4 million in 2019 to US$ 370.4 million by 2027; it is estimated to grow at a CAGR of 5.0% from 2020 to 2027. Infrastructure-driven development has resulted in strong economic growth and increased demand for commodities such as iron ore, steel, manganese, cobalt, and copper in countries such as Brazil. For the overall development of the mining industry, exploration efforts for the requisite minerals and metals are crucial. The growing use of these manufacturing machinery and the steady development of the mining industry involve the introduction of braking resistors. For an effective workflow, these brake resistors are used to control the speed of these industrial machines. This provides a tremendous incentive for suppliers of braking resistors to produce innovative technologies to satisfy the current and future requirements.
In terms of resistor element type, the wire-wound segment accounted for the largest share of the SAM braking resistors market in 2019. Further, the automobile and railways segment held a substantial share of the SAM braking resistors market based on end user in 2019.
A few major primary and secondary sources referred to for preparing this report on the braking resistors market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ABB; CRESSALL RESISTORS LTD.; REO AG; Sandvik AB; Schneider Electric; Toshiba International Corporation; Vishay Intertechnology, Inc.; Yaskawa Electric Corporation.
The South America Braking Resistors Market is valued at US$ 258.4 Million in 2019, it is projected to reach US$ 370.4 Million by 2027.
As per our report South America Braking Resistors Market, the market size is valued at US$ 258.4 Million in 2019, projecting it to reach US$ 370.4 Million by 2027. This translates to a CAGR of approximately 5.0% during the forecast period.
The South America Braking Resistors Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Braking Resistors Market report:
The South America Braking Resistors Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Braking Resistors Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Braking Resistors Market value chain can benefit from the information contained in a comprehensive market report.
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