Thermal Protector Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Introduction

A thermal protector is a specialized apparatus that prevents excessive heat from damaging electrical appliances and equipment. It operates autonomously and interrupts the electrical circuit once the temperature exceeds a predetermined threshold. The main purpose of a thermal protector is to ensure the protection of the apparatus and reduce the likelihood of fire hazards.

Thermal protectors are utilized in a wide range of electronic and electrical apparatus, such as motors, transformers, heating elements, and other appliances, and come in various shapes and sizes. The two fundamental classifications of thermal protectors are temperature switches and thermal fuses.

Market Dynamics Increasing Demand from the Consumer Electronics Industry Drives the Global Market

The development of the global market is driven by the increasing adoption of thermal protection within the consumer electronics sector. Many electronic devices, like computers, smartphones, tablets, cameras, and gaming consoles, extensively use thermal protectors as a preventive measure against overheating and thermal runaway. Thermal protectors facilitate the extension of battery life and the improvement of device functionality.

The global consumer electronics market is expected to reach USD 406.90 billion by 2023, expanding at a CAGR of 9.08% between 2023 and 2028, according to a report by Statista. The number of consumers utilizing consumer electronics is anticipated to increase to 2.2 billion by 2028. The user penetration rate is expected to increase from 26.6% in 2023 to 30.6% by 2028. This observation suggests a substantial demand for thermal insulation within the consumer electronics industry, thereby stimulating the expansion of the global market.

Emergence of Smart Thermal Protection Systems Creates Tremendous Opportunities

The development of smart thermal protection systems represents a burgeoning opportunity for the thermal protector market. Smart thermal protection systems enable real-time monitoring, diagnosis, and regulation of the temperature conditions of electrical equipment by utilizing communication modules, sensors, and controllers. In addition to providing data analysis, feedback, and optimization of the equipment's energy efficiency and thermal performance, smart thermal protection systems may also do so.

Smart thermal protection systems have the potential to enhance the sustainability, dependability, and security of a wide range of applications, such as smart structures, homes, systems, and cities. The value of the global smart home market is anticipated to reach USD 230.81 billion by 2031, expanding at a CAGR of 12.02% between 2023 and 2031, according to a report by Straits Research. This suggests that the thermal protector market's smart thermal protection systems segment has substantial expansion potential.

Regional Analysis

Asia-Pacific is the most significant global thermal protector market shareholder and is expected to expand substantially over the forecast period. The primary causes of this growth are urbanization, digitalization, and rapid industrialization. Moreover, emerging economies like China, India, Japan, and South Korea are experiencing an increasing need for thermal protection. The thermal protection industry has also witnessed a substantial surge in investments and developments. The region's primary market expansion drivers are the rising popularity of smart residences and smart structures, the increasing demand for thermal protection in electric vehicles, and the growing awareness of energy conservation and environmental protection. The Times of India estimates that by 2023, there will be approximately 13 million smart homes in India. The implementation of smart home technologies is anticipated to increase by 12.84 percent nationwide by 2025.

Furthermore, the increase in consumer demand for smart home technology, propelled by governmental endeavors and financial backing for the advancement of smart cities, is expected to positively influence the expansion of the smart home market in India. The Smart Cities Mission in India has been allocated Rs. 6,450 crore (USD 868 Mn) in the Union Budget 2021-22, an increase from Rs. 3,400 crore (USD 457 Mn) in FY21, as reported by the India Brand Equity Foundation. The adoption of smart devices in homes has significantly increased due to the development of smart homes. This trend is anticipated to increase the demand for thermal protection in these devices. All of these factors are anticipated to expedite the expansion of the regional market.

Key Highlights

• The global thermal protector market size was valued at
  USD 95 million in 2022.
  It is estimated to reach
  USD 78.84 million by 2031,
  growing at a
  CAGR of 3.48%
  during the forecast period (2023–2031).
• Based on type, the global thermal protector market is divided into metal material, plastic material, ceramic material, and others.
  
• Based on application, the global thermal protector market is segmented into motors, compressors, transformers, and others.
• Asia-Pacific is the most significant global thermal protector market shareholder and is expected to expand substantially over the forecast period.

Competitive Players

Portage Electric Products, Inc.

Seki Controls Co, Ltd.

Calco Electric

Selco Products Company

Sensata Technologies, Inc.

Thermtrol Corporation

Thermik Gerätebau GmbH

SAFTTY Technologies

Nanjing Haichuan Electronic Co., Ltd.

SCHURTER

ATC Semitec Ltd.

Emerson Electric Co.

Texas Instruments Incorporated

Others

Recent Developments

Recent Developments

• October 2024 - Blueshift , a leader in thermal protection systems (TPS), unveiled its latest innovation: AeroZero® Tapes. This comprehensive series of lightweight, easy-to-use tapes is designed to provide exceptional protection across extreme temperature ranges, from as low as -200 °C to over 2,000 °C. AeroZero® Tapes are ideal for various applications, including aerospace, automotive, and industrial sectors, where reliable thermic insulation is critical.

Analyst Opinion

As per analysts, the global market is experiencing steady growth, primarily driven by the increasing demand for consumer electronics and residential appliances. Advancements in thermal protection technology, such as the development of bimetal and self-resetting protectors, are also contributing to this trend.

Furthermore, a strong emphasis on energy efficiency and sustainability is propelling market growth, especially in regions like Asia-Pacific and North America, which are witnessing rapid industrialization and a surge in consumer appliance adoption.

Moreover, ongoing research and development efforts aimed at producing smart thermal protection systems that incorporate sensors and controllers for real-time monitoring and control are opening new market opportunities, positioning the thermal protector sector for continued expansion.

Segmentation

By Applications

Motor

Transformer

Compressor

Battery Packs

Others

By End-User

Industrial

Residential

Commercial

Utilities

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