ptc thermistor Market

The PTC thermistor market is expected to reach US$ 475.21 million by 2028 from US$ 372.06 million in 2021; it is estimated to grow at a CAGR of 3.6% from 2021 to 2028.

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, APAC held the largest share of the global PTC thermistor market. Many East Asian economies, notably China, South Korea, Taiwan, Japan, Malaysia, the Philippines, Thailand, and rely heavily on the electronics manufacturing industry as a source of manufactured exports. As the Asian economy has established its position as one of a leading regions for electronic & semiconductor manufacturing across the world, the demand for different type of electronics such as resistors, motors, and drivers endures to rise. This factor helps in contributing toward the market growth.

In North America, with formulation of manufacturing initiative like Materials Genome Initiative aims to develop, manufacture, and execute advanced materials with greater speed is expected to create demand for more industrial electronics & components used in the machineries which is projected to generate more demand for resistors. With factors mentioned above related to presence of manufacturers, sensing applications in automotive, and demand for industrial electronics in the US are expected to fuel the market in the region.

Various Asian economies witnessed a sharp decline in their GDP in 2020 due to the sudden closedown of the majority of economic activities across numerous countries. India is the worst-hit country by the pandemic in the Asia Pacific region. The limitations imposed by governments to control the spread of COVID-19 during the initial time frame of the outbreak in the mentioned countries affect the production process due to the restriction of a limited workforce. Automotive and consumer electronics are the key sectors that contribute to the growth of the PTC thermistor market in the region. 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. A PTC thermistor is used as a heater in the automotive industry for offering additional heat inside a cabin along with a diesel engine or for heating diesel in cold climatic conditions. 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.

The PTC thermistor market is segmented based on type, mode, and application. Based on type, the PTC thermistor market is segmented into ceramic PTC and polymer PTC. In terms of mode, the PTC thermistor market is segmented into self heating mode and sensor mode. Based on application, the PTC thermistor market is segmented into telecommunications and networking, automotive system, industrial electronics, consumer electronics and home appliances, medical instruments, and others.

The overall PTC thermistor market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the PTC thermistor market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the PTC thermistor market. G Bourns, Inc; Littelfuse, Inc.; Murata Manufacturing Co., Ltd; Polytronics Technology Corporation; and TE Connectivity are among the key players operating in the global PTC thermistor market.