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.