PTC Thermistor Market to hit US$ 475.21 million, Globally, by 2028 at 3.6% CAGR: The Insight Partners

According to 'The Insight Partners' 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. 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.

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Linear Silicon PTC thermistors resistance rises with an increase in the temperature and exhibits a virtually linear positive temperature coefficient over the entire temperature range. The thermistor is useful for temperature compensation and measurement control system. Silicon PTC thermistors are very much reliable as they feature long operational lifetimes. PTC thermistors are widely required for automotive vehicles' carburetor heating. PTC water heater utilizes PTC thermistor elements as a source of heat. A ceramic PTC thermistor is majorly utilized for the auxiliary electric heater of the air conditioner.

Positive temperature coefficient (PTC) heaters provide safety and efficiency for electric vehicle (EV) heating systems. In an electric vehicle, the PTC heater runs off the high voltage battery for maximizing the power delivered to the heater. Automotive HVAC is a growing trend in today's automobile sector across all the countries. Increasing buying capacity, decreasing interest rates, encouraging government initiatives, and easy finance availability drive the demand for electric vehicles across various countries of the world. Sales of electric vehicles in the US, China, and Europe markets increased by almost 160% i.e., around 2.5 million units in the first half of 2021, as compared to the previous year.

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PTC Thermistor Market Type-Based Market Insights

Based on type, the global PTC thermistor market is segmented into ceramic PTC (Barium Titanate) and polymer PTC (Carbon Doped Polymer). The ceramic PTC segment dominated the market in 2020. To ensure that barium titanate-based semiconductor ceramic compositions can be utilized at higher temperatures for applications such as an array of applications and thermistors for heaters, rising curie temperatures are needed. The PTC thermistor made up of a barium titanate-based semiconductor ceramic composition exhibits slight deterioration with time, which is excellent in reliability.

PTC Thermistor Market Mode-Based Market Insights

Based on mode, the PTC thermistor market is segmented into self-heating mode and sensor mode. In terms of market share, the market was dominated by the self-heating mode segment. Self-heated heat applications signify the fact that when a voltage is implied to a thermistor & sufficient current flows, the temperature increases. As the Curie temperature is approached, resistance rises, enabling less current to flow. The self-heating effect is a phenomenon taking place when the current is flowing via a thermistor.

The List of Companies - PTC Thermistor market

TE Connectivity Corporation, TDK Corporation, Texas Instruments Incorporated, Vishay Intertechnology, Inc., NXP Semiconductors, Murata Manufacturing Co., Ltd., Amphenol Corporation, Altium Europe GmbH, NXP Semiconductors, and Altium Europe GmbH

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Players operating in the PTC thermistor market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

In January 2020, Murata Manufacturing Co., Ltd. has commercialized the world's smallest PTC thermistor for mobile devices in the 0201-inch size (0.60.30.3mm) and has recently commenced mass production of this device under the component number PRG03BC181QB6RL.

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