Wirewound Variable Resistors Market: Future Forecast Assessed on the basis of how the Market is Predicted to Grow

Wirewound variable resistor is a component which is used to restrict the flow of electric current to a specific level. In the wirewound resistor, metal wires are used to oppose or block large amount of electric current. These metal wires are wound around the metal core. The wire material is usually made of an alloy such as nickel-chromium and provides high resistivity. Wirewound variable resistors provide high stability even when operating at high temperature. These resistors are used in electronic equipment and instruments where high power and more accuracy are required. Wirewound variable resistors provide benefits such as greater multiple functioning, reliability, superior performance, and longer life span.

Escalating demand for electronic devices and equipment is the key factor driving the increasing growth of the wirewound variable resistors market. Due to advancements in technology, demand for electronic equipment is growing rapidly. Most consumer electronics gadgets have inbuilt wirewound resistors to avoid or minimize the flow of excessive electric current. Wirewound resistors provide high protection to electronics equipment by reducing fluctuations in the flow of extra current near its threshold voltage.

Home appliances and electronic devices such as mobile phones, LCD monitors, and digital cameras are some of the factors escalating the demand for wirewound variable resistors. Growing adoption of circuit breaking applications is another factor boosting the growth of the wirewound variable resistor market. The use of pure metals and alloys which have high temperature coefficient of resistance is increasing significantly, thereby increasing the demand for wirewound variable resistors to prevent the excess electric current transfer.

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Due to abundance of opportunities, a number of new entrants are entering the market and existing players in the market are investing heavily in research and development to improve the functionalities of wirewound variable resistors. The production of wirewound variable resistors is increasing, owing to low technology barriers and abundance of raw materials in the market. However, the adoption of alternative technologies such as chip resistors and macroeconomic conditions such as economic slowdown and global recession may hamper the growth of the wirewound variable resistors market.

The wirewound variable resistors market can be segmented by type, application, and geography. On the basis of type, the market can be segmented into precision resistors and power resistors. Precision resistors are expected to grow rapidly owing to the number of benefits provided by them such as better short term and long term stability, faster frequency response, low noise, and high performance. Manufacturers are focusing on providing enhanced precision resistors. In terms of application, the wirewound variable resistors market can be segmented into temperature sensors, current sensors, and potentiometers.

Geographically, the wirewound variable resistors market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific market is expected to grow at the highest rate in the coming years, due to the availability of cheap labor and presence of various electronic goods manufacturing companies in countries such as China, Taiwan, and India. The market in North America is also expected to grow significantly owing to the higher production capacities in Canada and the U.S.

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The wirewound variable resistors market includes various players. Some of the major players in the market are ADI American Distributors Inc., 1-Source Electronic Components, Cougar Electronics Corp., KRL Bantry Components, Inc., Ohmite Manufacturing Co., KRL Bantry Components, Inc., Mod-Tronic Instruments Ltd., Taiwan Volt Electronics Co., Voltronics, Inc. and Novotechnik U.S. Inc.

The key market players dominating the wirewound variable resistors market are 1-Source Electronic Components, ADI American Distributors Inc., Cougar Electronics Corp., Jameco Electronics, KRL Bantry Components, Inc., Mod-Tronic Instruments Ltd., Novotechnik U.S. Inc., Ohmite Manufacturing Co., Taiwan Volt Electronics Co., and Voltronics, Inc.