PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1536693
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1536693
Inrush Current Limiter Market size was valued at USD 1,412.23 million in 2023, expanding at a CAGR of 5.6% from 2024 to 2032.
An Inrush Current Limiter (ICL) is an electrical device designed to limit the high initial surge of current (inrush current) that occurs when electrical equipment is first turned on. Inrush current can be significantly higher than the device's normal operating current and can cause various problems, such as tripping circuit breakers, damaging components, and reducing the lifespan of the equipment. The growing usage of electrical and electronic devices in households and industries drives the demand for ICLs to protect these devices from inrush currents. The expansion of renewable energy sources like solar and wind power requires ICLs to manage the initial surge currents when systems are activated or connected to the grid. Also, the increasing adoption of automation in various industries leads to higher demand for ICLs to safeguard industrial machinery and equipment. However, integrating ICLs into existing systems without affecting performance or requiring significant modifications can be challenging for some applications. Limited awareness about the benefits and applications of ICLs among potential end-users can hinder market expansion.
Inrush Current Limiter Market- Market Dynamics
Expansion of renewable energy sources across the world
The expansion of renewable energy sources, such as solar and wind power, significantly impacts the electrical grid. One of the challenges associated with integrating these sources into the grid is managing inrush currents, which are sudden surges of current that occur when electrical equipment is initially energized. By limiting inrush currents, ICLs contribute to the overall stability of the electrical grid. This is particularly important as the grid becomes more decentralized with the addition of numerous renewable energy sources. Batteries and other energy storage systems can experience high inrush currents when they are connected to the grid or when charging. ICLs help manage these currents to protect the storage systems and maintain grid stability. In the next five years, the globe is expected to add more renewable energy capacity than it has since the first commercial renewable energy power plant was constructed more than a century ago. Throughout the years 2023-2028, nearly 3,700 GW of new renewable capacity will come online thanks to encouraging policies in more than 130 nations.
Inrush Current Limiter Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.6% over the forecast period (2024-2032)
Based on product type segmentation, NTC (Negative Temperature Coefficient) Thermistors were predicted to show maximum market share in the year 2023
Based on end-use industry segmentation, Automotive was the leading type in 2023
Based on region, Asia Pacific was the leading revenue generator in 2023
The Global Inrush Current Limiter Market is segmented based on Product Type, Application, End-Use Industry, and Region.
The market is divided into four categories based on product type: NTC (Negative Temperature Coefficient) Thermistors, PTC (Positive Temperature Coefficient) Thermistors, Fixed Resistors, and Inductive Reactors. The category of thermistor with a negative temperature coefficient is anticipated to hold the largest global market share. NTC thermistors have a long operating life that boosts the market when utilized within their defined specifications. They are a dependable and affordable alternative for overcoming current constraints. Numerous industries, including consumer electronics, industrial equipment, automotive applications, and others, have made extensive use of NTC thermistors.
The market is divided into six categories based on end-use industry: Consumer Electronics, Automotive, Industrial, Telecommunication, Healthcare, and Aerospace & Defense. Due to the substantial shift that the automotive sector is witnessing with the growing use of electric vehicles (EVs) and hybrid vehicles, the automotive segment is anticipated to lead the global market. Modern car electronics require inrush current limiters because they assist in avoiding harm from abrupt surges in current.
Inrush Current Limiter Market- Geographical Insights
The rapid industrialization in countries like China, India, Japan, and South Korea is driving the demand for inrush current limiters. These countries have seen substantial growth in manufacturing and industrial sectors, which require advanced electrical protection solutions. The booming consumer electronics market in Asia-Pacific, particularly in China, Japan, and South Korea, is a major factor. Inrush current limiters are essential in protecting electronic devices from initial surge currents, thus enhancing their reliability and lifespan. The increasing investments in renewable energy projects, such as solar and wind power in the region, are contributing to the demand. Inrush current limiters help in managing the surge currents associated with the start-up of these systems.
Major Inrush Current Limiter Market players include Amphenol Advanced Sensors, Murata Manufacturing Co., Ltd., Ametherm, Inc., AVX Corporation, Eaton Corporation, etc. Amphenol Advanced Sensors specializes in sensor and sensor-based systems. Offers a range of inrush current limiters. Murata Manufacturing Co., Ltd. is a leading manufacturer of electronic components, including inrush current limiters. Vishay Intertechnology, Inc., is a major player in manufacturing a broad range of discrete semiconductors and passive electronic components, including inrush current limiters. Companies are involved in strategic partnerships with other companies to enhance product offerings and expand market reach. Companies are continuously innovating to improve the efficiency, reliability, and size of inrush current limiters. Advancements in materials and design are key factors. Leading companies often have a global presence with extensive distribution networks, enabling them to serve diverse markets effectively.
In October 2023, TDK Corporation developed the J404, the world's first* surface-mountable inrush current limiter (ICL) based on PTC (positive temperature coefficient) technology. Designed for DC voltages of up to 500 V and AC voltages of up to 350 V, the device automatically and intrinsically limits excessive currents in applications such as DC links and charging devices in electromobility.
GLOBAL INRUSH CURRENT LIMITER MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Amphenol Advanced Sensors
Murata Manufacturing Co., Ltd.
Ametherm, Inc.
AVX Corporation
Vishay Intertechnology, Inc.
Eaton Corporation
Panasonic Corporation
US Sensor Corp.
Thinking Electronics Industrial Co., Ltd.
Cantherm
Littelfuse, Inc.
TDK Corporation
Schurter Holding AG
Others