PTC Thermistor market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type; by Mode; by Application, and Geography – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “PTC Thermistor market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type; by Mode; by Application, and Geography” report has been added to ResearchAndMarkets.com’s offering.
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.
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.
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.
Key Market Dynamics
Market Drivers
- Rising Adoption of Smartphones in Developing Countries
- Expanding Telecommunication Sector Worldwide
Market Restraints
- Constraints with Respect to Interchangeability
Market Opportunities
- Growing Automobile Industry
Future Trends
- Rising Use in Medical Sector
Company Profiles
- TE Connectivity Corporation
- TDK Corporation
- Texas Instruments Incorporated
- Vishay Intertechnology, Inc.
- ZIEHL industrie-elektronik GmbH + Co KG
- Murata Manufacturing Co., Ltd.
- Amphenol Corporation
- KRIWAN Industrie-Elektronik GmbH
- NXP Semiconductors
- Altium Europe GmbH
- Fuzetec Technology Co. Ltd.
- General Electric Company
- Thermik Geratebau GmbH
- TMC Sensortechnik GmbH
- Minilec Group
- Littelfuse, Inc
For more information about this report visit https://www.researchandmarkets.com/r/8nozcg
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