PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388775
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388775
A wire-wound resistor is an electrical passive device that regulates current flow within a circuit. These resistors are created by wrapping a conductive wire around a non-conductive core. A variable resistor, on the other hand, allows for adjustment of its electrical resistance value to meet specific requirements. Typically, it consists of an electro-mechanical transducer. Wirewound variable resistors are composed of a coil of resistive wire, often made from materials like nichrome or constantan, wound around a ceramic or plastic core. The wiper, a movable contact, establishes an electrical connection with the coil. Due to their ability to handle high power levels, wire-wound variable resistors are suitable for applications where power dissipation is a concern, such as power supplies and motor speed control. They are widely used in various electronic devices, including audio equipment, instrumentation, power supplies, and industrial machinery, among others.
Increasing demand for consumer and commercial electronic equipment is expected to drive market growth.
Consumer electronics are continuously advancing and diversifying, leading to an increased demand for wirewound variable resistors. The commercial electronics sector, which includes industries such as telecommunications, networking equipment, and data centers, heavily relies on these resistors for precise control and adjustment in electronic circuits. According to the ITU, an estimated 5.4 billion people, accounting for 67 percent of the world's population, will be using the Internet by 2023. This represents a significant increase of 45 percent since 2018, with approximately 1.7 billion people coming online during that period. However, there are still 2.6 billion people who remain offline. Additionally, the rising demand in emerging technologies presents growth opportunities for the market. Nevertheless, the market growth may be hindered by stricter government regulations and price competition.
The Global Wirewound Variable Resistors Market is segmented on the basis of Product Type, Application, and Region.
The market is divided into two categories based on product type: Precision Resistor and Power Resistor. Precision Resistor dominates the market. High-precision wire-wound resistors are mainly utilized in measurement bridges, precision audio frequency (AF) attenuators, and calibration equipment. Precision resistors are used in circuits and applications where precise and stable resistance values are required.
The market is divided into three categories based on application: Current Sensors, Potentiometers, and Temperature Sensors. Potentiometers dominate the market. Wirewound variable resistors, commonly known as potentiometers or pots, are utilized in circuits to modify resistance. These electrical components consist of a resistive element that is wound around an insulating core using wire. Potentiometers are highly adaptable and are employed in various electronic devices and systems.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These areas are further distributed as per the countries bringing business. Asia Pacific is poised to dominate the market, driven by the surge in demand for Wirewound Variable Resistors across various application areas. The region, particularly Asia Pacific, holds a prominent position in the automotive sector, witnessing significant growth in electric vehicles (EVs) and advanced driver-assistance systems (ADAS). These cutting-edge technologies heavily rely on Wirewound variable resistors for precise control and adjustment, thereby further propelling the market. According to Ministry of Industry and Information Technology figures, over 26 million cars were sold in 2021, notably 21.48 million passenger vehicles, representing a 7.1% increase from 2020. Commercial vehicle sales were 4.79 million units, a 6.6% decrease from 2020. Additionally, both the Asia Pacific and European markets are anticipated to experience the most rapid growth during the forecast period.
The Wirewound variable resistor market is heavily influenced by major manufacturers and suppliers. Their product offerings, including resistance range, power rating, tolerance, and temperature coefficient, play a significant role in shaping market demand. Each competitor specializes in specific niches or applications within the market, with some excelling in certain industries or technologies. It is important to investigate the level of innovation and research and development efforts put forth by each manufacturer, as new technologies or features may provide a competitive edge. Additionally, partnerships, collaborations, or alliances formed by major players with other companies in the industry can greatly influence the competitive landscape.
On 12 May 2021, TT Electronics, a worldwide manufacturer of designed electronics for mission-critical applications, has expanded its variable resistor range with three new product groups and three series extensions. One additional encoder series and two new single-turn potentiometer groups have been added to the portfolio, as have three current potentiometer families.
The scope of this report covers the market by its major segments, which include as follows: