Automotive High Voltage Resistor Market size is Projected to reach USD 424.9 million by 2028
01/03/2023, pune // KISS PR Brand Story PressWire //
The Automotive High Voltage Resistor market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
Market Segmentation Automotive High Voltage Resistor market is split by Type and by Application. For the period 2017- 2028, the growth among segments provides accurate calculations and forecasts for sales by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
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Market segment by Type, covers
- Chip Resistor
- Wirewound Resistor
Market segment by Application can be divided into
- Commercial Vehicles
- Passenger Vehicles
The key market players for global Automotive High Voltage Resistor market are listed below:
- Viking Tech
- KOA Speer
- Walsin Technology
- Metallux AG Nicrom
Automotive High Voltage Resistor Market Drivers
Rise in use in automotive and industrial applications to fuel the market expansion
Automotive high voltage resistors can be free-standing or built into the control circuitry of electric motors to regulate the speed of the cooling fan, windows, seats, mirrors, and wipers. These components are used in hybrid and other types of automobiles to convert between various voltages and provide regenerative electric braking to the wheels. For instance, in January 2020, KOA Speer Electronics released the HV73V high voltage resistor, designed specifically for automotive applications. The HV73V resistor is perfect for high voltages since it has a specific inner electrode material.
New product launches to fuel the market
The expansion of distribution networks and transmission for the production of electric vehicles and the rise in international government funding in R&D seems to open up new opportunities for the automotive high voltage resistor market. Developing new product lines and investments in cutting-edge technologies by automakers will spur growth. Over the last few decades, the production of vehicles has increased rapidly, averaging a 50% rise per decade.
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Automotive High Voltage Resistor Market Restraints
High manufacturing cost of EVs to hinder market growth
EVs are superior to conventional fuel vehicles, but they cost more than cars that run on gasoline. These cars have not yet benefited from economies of scale because they are not mass-produced. The lack of charging infrastructure associated with the development of EVs has also been proven to be negative, which results in less manufacturing of EVs. This has limited the automotive high voltage resistor market’s growth. The producers’ demand for money and resources could restrict the market’s growth.
Poor tractability and fatigue strength of the resistors hamper the market growth
Growth in the automotive high voltage resistor market is predicted to be constrained by problematic support, poor tractability, and fatigue strength. Furthermore, human mistake causes highly exothermic circumstances when high-voltage resistors are operated above their designated power rating. Serious implications result from this, like the high voltage resistor’s potential to catch fire and obliterate the circuitry. Short circuits, a shortening of the lifespan of the power resistor and the circuit, and a change in the total resistance value are some additional effects of operating high voltage resistors above the authorized power.
Automotive High Voltage Resistor Trends Analysis
One of the primary trends for the automotive high voltage resistor market is passenger automobiles. Their demand in this market will rise due to the growing use. The need for ever-increasing safety in passenger vehicles, buses, lorries, and other forms of transportation has prompted automakers worldwide to expand their investment in these parts significantly.
Another trend for market growth is the government’s stringent pollution regulations, and customers’ rising environmental consciousness is anticipated to increase demand for electric vehicles, which will drive the automotive high voltage market expansion.
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Due to massive investments by automotive manufacturers and continuously expanding vehicle demand, the North American region is one of the most appealing regions in the global automotive high-voltage resistor market. The presence of major manufacturers such as Delphi, Cree (Diodes Inc), and Sony Corporation improves the competitive landscape for this region’s car resistor business. Hence, the expansion is attributed to the region’s abundance of automobile manufacturers. On the other hand, the growth is attributed to the increasing number of electric vehicles. These new companies’ objectives were developing electric vehicles in North America and acquiring funding, marketing, and corporate expansion. These factors have helped this area’s EV use increase, driving the automotive high-voltage resistor market.
The United States is the key market in North America for automotive high voltage resistors. The existence of several machinery and automobile manufacturers will aid the expansion of the automotive high voltage resistor during the forecast period. The increase is also attributable to the demand for highvoltage resistors in production due to the demand for passenger automobiles. For instance, 9,167,214,000 units of motor vehicles were produced in the United States as of December 2021. The prior figure for December 2020 was 8,821,026.000 units; therefore, this represents an increase. Furthermore, the growing demand for higher manufacturing capabilities is expected to drive the growth of the area’s automotive high voltage resistor market during the forecast period.
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