Electrical Resistor Market to Grow at 6.47% CAGR to 2020

PUNE, India, August 23, 2016 /PRNewswire/ --

The global electrical resistor market 2016-2020 report says growth in smart grid market will be a key trend for growth of electrical resistors as smart grids have a significant impact on energy needs, especially with regard to distribution of electricity. Smart grids enable the integration of distributed energy resources (DER) such as power from renewable energy sources and the adaption of demand patterns and thus form an integral part of a sustainable, participatory, decentralized, safe, and secure energy system of the future. Conventional energy networks, particularly electricity, are undergoing drastic changes due to factors such as the growing contribution of renewable sources and rising demand for electricity due to increasing electrification of transport and heating.

Complete report on electrical resistor market spread across 60 pages, analyzing 5 major companies and providing 29 data exhibits now available at http://www.sandlerresearch.org/global-electrical-resistor-market-2016-2020.html

The analyst forecast global electrical resistor market to grow at a CAGR of 6.47% during the period 2016-2020. In this market, there is an increasing trend to decentralize the electricity supply, which is spurred by efforts to provide electricity to remote areas like mountainous regions. In such areas, the remoteness of the villages does not enable connection to a centralized power grid. As a result, the demand for decentralized (distributed) energy supply (DES) is rising, especially for distributed electricity generation (DG) by using local energy sources such as renewable energy or carrying fuel to a point at/near the location of consumption where it is converted into electricity and distributed locally.

According to the 2016 electrical resistor market report, rising importance for resistors in traction and marine applications will be a key driver for market growth. The growth of rail networks to accommodate the needs of travelers and urban commuters globally has resulted in rising demand for braking and control resistors for traction applications in electric locomotives. Traction systems are used in tramways, metro rail networks, tram-trains, regional trains, high-speed trains, and locomotives. Replacement of old resistors offers an easier, simpler, and more cost-effective option than replacing a whole drive with squirrel cage motors and modern drives. Therefore, the growth of rail systems worldwide such as metro rail infrastructure will boost the demand for electrical resistors.