Rising Adoption of Smartphones in Developing Countries to Boost PTC Thermistor Market Share During 2021–2028
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 was valued at US$ 372.06 million in 2021 and is projected to reach US$ 475.21 million by 2028; it is expected to grow at a CAGR of 3.6% from 2021 to 2028.
Mobile devices and smartphones are becoming compact and multifunctional. Therefore, the demand for smaller components that can ensure device stability and protect small electronic circuits is increasing rapidly. PTC thermistors are designed to exhibit a rapid increase in electrical resistance whenever their temperature rises beyond a certain threshold, thus protecting components and circuits from damage. By recognizing overcurrent in circuits, which may occur while assembling or when a mobile drops or receives a sudden impact, the PTC thermistors help avoid failures and abnormalities in mobile devices, thus driving the PTC thermistor market. With growing disposable income, EMI schemes, and the new model launches, the demand for smartphones is increasing rapidly in various developing countries, such as India, Brazil, Nigeria, and Cambodia, which is propelling the PTC thermistor market growth. In February 2021, Xiaomi expanded its manufacturing capabilities in India by establishing two new smartphone manufacturing plants. Owing to the growing demand for smartphones among the developing countries and the enhancing production side of the supply chain, the requirement for respective PTC thermistors is growing notably, boosting the growth of the PTC thermistor market.
Based on type, the global PTC thermistor market is categorized into ceramic PTC (barium titanate)
and polymer PTC (carbon doped polymer). In 2020, the ceramic PTC (barium titanate) segment led the PTC thermistor market and accounted for a larger market share. The PTC thermistor made up of a barium titanate-based semiconductor ceramic composition exhibits slight deterioration with time, which is excellent in reliability. The PTC thermistors are the ceramic components in which electrical resistance rises quickly when a certain temperature surpasses. This feature makes the ceramic thermistor appropriate for countless applications such as electronic engineering, advanced electrical, over-temperature protection, temperature compensation, over-current protection, and time delay. Contrary to features of ceramic thermistors, overvoltage, overcurrent density, overpower are some of the arenas witnesses failures in their mechanisms.
Impact of COVID-19 Pandemic on PTC Thermistor Market Growth
During late Q1 and entire Q2 of 2020, the majority of the manufacturing plants operated with minimum staff or halted their manufacturing momentarily. However, due to a large number of patients in the US, Canada, and Mexico, the demand for PTC thermistors required for patient monitoring equipment was notably high, which was driving the PTC thermistor market. Electronics and automotive industries have been struggling due to concerns over contracting the spread of the virus, even after they could reopen. These are some of the critical issues faced by the North American countries. However, the PTC thermistor market witnessed a positive impact as the demand for PTC thermistors started growing in the US, Canada, and Mexico as the end-user industries began their operations from Q3 of 2020, which propelled the PTC thermistor market growth.
The key players operating in the global PTC thermistor market include TE Connectivity Corporation; TDK Corporation; Texas Instruments Incorporated; Vishay Intertechnology, Inc.; ZIEHL industrie-elektronik GmbH + Co KG; Murata Manufacturing Co., Ltd.; Amphenol Corporation; General Electric Company; and KRIWAN Industrie-Elektronik GmbH. Several other PTC thermistor market players have been analyzed to understand the PTC thermistor market.
PTC Thermistor Market — by Geography, 2021 and 2028 (%)
PTC Thermistor Market Size, Share & Analysis by 2021 to 2028
Download Free SamplePTC Thermistor Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type ( Ceramic PTC (Barium Titanate) and Polymer PTC (Carbon Doped Polymer) ); by Mode ( Self Heating Mode and Sensor Mode ); by Application ( Telecommunications and Networking, Automotive System, Industrial Electronics, Consumer Electronics and Home Appliances, Medical Instruments, and Others ), and Geography
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