The global wirewound variable resistors market is growing, due to increased demand for electronic devices and equipment. To avoid the damage of commercial electronic and consumer electronics equipment owing to excess transfer of current, the equipment are provided with inbuilt wirewound resistors. The resistors protect the devices from damages by resisting fluctuations in the flow of additional electricity near its threshold voltage. Thus, wirewound variable resistors find vast applications in fuses or circuit breakers. The resistors are also used in circuit breaking applications, due to their high power capabilities. The wirewound variable resistors can themselves be used as circuit breakers, or may be used in large circuit breaking devices.
The increase in demand for varied application areas of wirewound variable resistors is providing ample growth opportunities for the market in the coming years. Several new entrants are entering the market, due to abundance of opportunities. The demand of resistors is increasing, due to high replacements and turnovers of electronic devices and home appliances, such as digital cameras, mobile phones and LCD monitors. The production of wirewound variable resistors is increasing, due to abundance of raw materials and low technology barriers in the market.
The Asia-Pacific market is expected to grow with the highest rate in coming years, due to the presence of several developing economies in the region. The availability of cheap labor and presence of various electronic goods manufacturing companies in the countries, such as China, Taiwan and India is also supporting the growth of the wirewound variable resistors market in the region. Additionally, the availability of raw materials at economical rates has supported large scale offshore manufacturing of wirewound variable resistors. In North America, higher production capacities in Canada and the U.S. are expected to support the market growth.
The wirewound variable resistors can be used as temperature sensors as well as current sensors, thus augmenting the scope of the resistors. The increasing adoption of substitute technologies, such as chip resistors is one of the major factors, restraining the growth of the global market. The low entry barriers for the new entrants have increased the competition in the market, and the price competition has largely affected the profit margins of the market players. Moreover, the market share of existing players has decreased considerably in the last few years. The prevalent pecuniary conditions are negatively impacting the growth of the global market. Additionally, macroeconomic conditions, such as economic slowdown and global recession have also affected the growth of the global market.
To enhance the functionalities of wirewound variable resistors, existing competitors in the market are investing heavily in research and development activities. The manufacturers are focusing on decreasing the size of resistors, to mount them easily in smaller electronic equipment. Moreover, the manufacturers are also developing high-precision resistors for providing longer life span, superior performance, multiple functioning, and greater reliability.
Some of the competitors in the global wirewound variable resistors market are Cougar Electronics Corp, Voltronics Inc., Ohmite Manufacturing Company Inc., Jameco Electronics Ltd., Novotechnik U.S. Inc., and 1-Source Electronic Components Inc.
Global Wirewound Variable Resistors Market Segmentation