Global Inrush Current Limiter Market Size, Share, Growth Analysis, By Type(Negative temperature coefficient (NTC) thermistors, positive temperature coefficient (PTC) thermistors), By End-user(Automotive, industrial) - Industry Forecast 2024-2031

Global Inrush Current Limiter Market size was valued at USD 1.34 billion in 2022 and is poised to grow from USD 1.46 billion in 2023 to USD 2.91 billion by 2031, at a CAGR of 9.00% during the forecast period (2024-2031).

An inrush current limiter is a component used to limit inrush current in order to prevent cumulative damage to components, blow fuses, or trip circuit breakers. It is a thermistor made from transition metal oxide material that has been formed at extremely high temperatures. It can easily and effectively protect circuits of electrical and electronic devices against inrush currents. They have multiple benefits over their substitutes, one of which is that they provide a one-piece solution. This reduces complexity and costs by doing away with the requirement for a timer, relay, and resistor. Additionally, because they don't need logic control or have any moving components, they are more dependable and economical due to their lower power consumption when operating continuously. The market for current limiters will undoubtedly be driven throughout the forecast period by the growing demand from the power generating industry as well as the rising use of current limiters in industrial applications. The potential is enormous since inrush current limiters have been shown to have favorable effects on current green energy applications, which have been growing and evolving over the past several years.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Inrush Current Limiter Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Inrush Current Limiter Market Segmental Analysis

Global inrush current limiter market is segmented based on the age group, type and region. Based on type, global inrush current limiter market is segmented into negative temperature coefficient (NTC) thermistors, positive temperature coefficient (PTC) thermistors, and fixed resistors. Based on end-user, the inrush current limiter market is segmented into automotive, industrial, energy, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Drivers of the Global Inrush Current Limiter Market

Throughout the projected period, the market is anticipated to grow significantly due to the widespread use of inrush current limiters in electronic circuits. The market for inrush current limiters is expanding at a healthy rate over the previously specified timeline due to a number of advantages, such as reduced line-current distortion, switch protection, and protection against probable mistakes in fuses.

Restraints in the Global Inrush Current Limiter Market

In the upcoming forecast year, the Global Inrush Current Limiter market is anticipated to encounter setbacks due to the resistance's adaptable nature and the complexity of operational conditions. These factors pose significant challenges for market players, potentially leading to reduced profitability and hindered growth prospects. Additionally, stringent regulatory requirements and escalating manufacturing costs may exacerbate these constraints, further impacting market performance.

Market Trends of the Global Inrush Current Limiter Market

The inrush current limiter is growing and changing in response to new developments that can satisfy end-user needs, particularly in the industrial sector. Due to their straightforward designs, inexpensive component costs, and other advantages, manufacturers are expressing interest in investing in products that will maintain the current market trend of using negative temperature coefficient (NTC) thermistors.