Electricity plays a crucial role in modern life, electrical resistors possess a broad range of applications. Passive electrical component that prevents an excess influx of electric current into a circuit is termed as an electrical resistor. Power generation, transmission, and distribution sectors account for extensive use of resistors. Electricity demand is exponentially increasing globally, governments in various countries are undertaking modernization and development of their power generation infrastructure. Both developed and developing countries are taking efforts to develop new power generation, transmission, distribution, developing infrastructure, also revamping the existing infrastructures. As electrical resistors form an important component of the equipment utilized in power infrastructure, the increase in the demand for electricity, especially in the transmission and distribution networks, would boost the demand for electrical resistors market.
Electrical resistors are segmented based on their types, end-users, and region. Based on its types, electrical resistors are segmented as fixed carbon resistors, fixed electrical resistors, wire-wound electrical resistors (power capacity less than 20 watt), wire-wound electrical resistors (power capacity above 20 watt), other variable resistors, parts of electrical resistors. End-users of electrical resistors market are it is used in power supplies. It used for the purpose of power generation, transmission, and distribution channels. It is installed in electric motors, and are also widely used in drivers and inverters.
Rise in demand for production of green products is a major trend in the electrical resistors market. Manufacturers of electrical resistors are increasingly focusing on developing wires and cables with less detrimental impact on the environment. The higher cost of equipment, maintenance is more difficult, and the commonly used high-power single-phase AC welder is not conducive to balanced operation of the grid. The tensile strength and fatigue strength of the electrical resistors joint are low. These are some of the restraints of the electrical resistors market. Technological advancements are emerging in order to reduce electrical resistors manufacturing cost with an aim to provide environment friendly and safe electrical solutions.
In terms of geography, Countries in Asia Pacific such as India, China, and Japan are investing significantly in development of electrical resistors of environmentally-friendly and halogen-free insulation. Several end-users are replacing their old equipment such as transmission and distribution transformers, power cables, circuit-breakers, and switchgears with technically advanced transmission and distribution equipment to revamp their existing transmission networks. It is widely used in inverters to store electricity. North America offers high potential for the electrical resistors market. The usage of electrical resistors is expected to increase in North America., as the U.S. government plans to refurbish infrastructure and produce eco-friendly energy distribution and transmission control systems. This is driving the demand for electrical resistors. Countries in Europe such as Germany, France, Sweden, and the U.K. are increasing focus on their infrastructure investments for the development and improvement of renewable energy projects. This is anticipated to create the need to connect renewable energy sources to the grid network, thereby augmenting the usage of electrical resistors due to their properties such as low transmission loss. The electrical resistors market in Middle East & Africa is anticipated to expand in the near future. Countries such as Saudi Arabia, Kuwait, Bahrain, and Qatar have invested significantly in electrical resistors for development of infrastructure.
Key players operating in the electric resistors market include Cressall, Murata, TE Connectivity, Vishay, and Japan Resistors Manufacturing.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.