Inrush current limiter avoids damage to components by blowing fuses or tripping the circuit breakers. These are components in the form of negative temperature coefficient (NTC) thermistors and fixed resistors among others. The market is expected to grow during the forecast period.
The global rise in industrial is creating the need for power generation. Furthermore, the rising concern for global warming and depleting energy sources such as coal and petroleum is leading to the need for alternative energy. The global rise for alternative energy is further driving the market for inrush current limiter and they find their primary application in the energy industry. Moreover, the emerging concept of intelligent buildings is further creating the need for protection from sudden power surges, which is aiding to the growth of inrush current limiters globally. In addition, the inrush current limiter fuses have several advantages over other forms of fuses such as boric acid fuses. The inrush current limiters operate silently without disrupting the environment. Furthermore, these current limiters have higher interrupting capacity than boric acid fuses which makes them ideal for industrial and commercial usage. In addition, the inrush current limiters are economical and have better coordination with other devices as compared to other forms of fuses. These factors are driving the market for inrush current limiter globally during the forecast period.
However, there are some factors which are disrupting the growth of this market. The NTC thermistor is not short circuit proof. Furthermore, these inrush current limiters are still hot after being switched off and have low resistance during that time. It can only start operating properly after cooling down which usually takes more than a minute. These factors are hindering the growth for inrush current limiter market during the forecast period.
The global demand for urbanization in developing regions like India is further expected to surge the need for construction sector in future. With the rise in demand for construction, the need for energy is expected to increase. Furthermore, the rise in globalization is leading to migration of manufacturing units in developing regions such as Asia Pacific and Africa. This is expected to increase the demand for industrial infrastructure in the near future. These factors are further expected to drive the market for inrush current limiters in future.
The inrush current limiters can be segmented into types, end use industry and geography. In terms of types, the market can be further bifurcated into negative temperature coefficient (NTC) thermistors and fixed resistors. The fixed resistors can be further divided into carbon composition resistor, wire wound resistor, metal film resistor, foil resistor and metal glaze resistors among others. In terms of application, the market can be segregated into commercial, industrial and household application. The industrial application is expected to have the largest market share during the forecast period.
By geography, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America and Europe are expected to witness steady growth during the forecast period. However, the growing urbanization in Asia Pacific region is expected to drive the market for inrush current limiter significantly. Moreover, the commercial and industrial segment is expected to push the growth in Middle East and Africa region.
The inrush current limiter market is witnessing some intense competition by the leading players operating in this sector. Frequent mergers and acquisition, joint ventures and partnerships are some of key strategies adopted by these leading players in the market. The key manufacturers in the inrush current limiter market are Honeywell International, Inc., Mouser Electronics, Murata Electronics, TDK Corporation, Ametherm and Cantherm among others.
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