According to our latest market study on "PTC Thermistor Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Mode, and Application," the market is projected to reach US$ 475.21 million by 2028 from US$ 372.06 million in 2021; it is expected to grow at a CAGR of 3.6% from 2021 to 2028.
The telecommunications industry requires a large count of surge protective devices (SPDs) each year to protect telephone, data, and signal lines. The ceramic positive temperature coefficient PTC thermistor helps in offering protection against power induction surges, power cross, and lighting surges. In the telecommunication sector, the PTC thermistor is also used in custom premises equipment (also known as subscriber terminal equipment), phone sets, modem, fax machines, answering machines, voice over IP equipment (VoIP), powered ethernet systems, and set-top box. Since internet connectivity is growing worldwide, the requirement for respective PTC thermistors is rising rapidly, which is driving the PTC thermistor market. In July 2021, on behalf of the Department of Telecommunication, Bharat Broadband Network Limited (BBNL) invited a global tender for developing BharatNet through the public-private partnership mode across 16 states of India. In 5G network applications, PTC thermistors are utilized for overheat sensing in power ICs, field-effect transistors (FETs), and other heat-generating areas. In July 2020, T-Mobile reported that its 5G network was available across 600 locations in Austria, covering almost 25% of Austrian businesses and homes. By the end of 2020, the company's 5G network was available across 1,200 locations, covering almost 40% of businesses and homes in Austria. Thus, expanding 5G network and growing investments in the telecommunication industry drive the global PTC thermistor market.
Impact of COVID-19 Pandemic on APAC PTC thermistor Market Size According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major countries such as China, India, Japan, and Australia, which are also experiencing inflation. Automotive and consumer electronics are the key sectors that contribute to the growth of the PTC thermistor market in the region. Due to salary cuts and job loss, buying capacity of the consumers reduced notably. This impacted the sales of HVAC systems and electronic appliances. According to Automobile Industry Associations, the Indian automotive industry suffered a daily loss of US$ 31,164 million approximately during 2020. Since the manufacturing of automobiles fell drastically, the demand for respective PTC thermistors was affected drastically. However, as the economies re-opened and industries began their operations, the demand for PTC thermistors from various end-user industries started to grow gradually. India is the country where a record count of vaccinations has taken place. Also, with ease in earlier restrictions, companies can work with a higher capacity, which started to drive the PTC thermistor market.
Key Findings of Study:
The PTC thermistor market is broadly segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Asia Pacific (APAC) held the largest share of the global PTC thermistor market, followed by North America, Europe, SAM, and MEA. Asia Pacific is the fastest-growing region, followed by North America, Europe, SAM, and MEA. ZIEHL industrie-elektronik GmbH + Co KG, TE Connectivity Corporation, KRIWAN Industrie-Elektronik GmbH, Texas Instruments Incorporated, NXP Semiconductors, and General Electric Company are the key players operating in the PTC thermistor market.
The growing utility of PTC thermistors worldwide and advancement in integration of next-generation technologies such as artificial intelligence in the industrial sector further drive the demand for PTC thermistors. Owing to distinct rules, norms, regulations, and policies of different countries, trade barriers in the PTC thermistor market may act as a restraining factor to a certain extent. Most countries in the Asia Pacific region are still in the developing stage and are not as developed as the countries in the West. However, with the growing disposable income, the demand for vehicles and consumer electronics products is anticipated to rise substantially in various countries such as Bangladesh, India, China, Malaysia, the Philippines, which will drive the PTC thermistor market.
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