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Inrush Current Limiter Market Size, Share, and Analysis, By Type (Negative Temperature Coefficient Thermistor, Positive Temperature Coefficient Thermistor, and Others), By Application (Power Supplies, Transformers, Motors, Inverters, and Others), By End-User (Information & Communication Technology, Automotive, Industrial Machinery, Healthcare, Consumer Electronics, and Energy), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034.
Inrush Current Limiter Market is anticipated to grow at a CAGR of 9.2% in the forecast period (2024-2034), with the market size valued at USD 1.5 billion in 2023 and projected to reach USD 3.8 billion by 2034.
Inrush current limiter is a device which is commonly designed to control the current when an electrically powered equipment is turned on. The current, which is also referred to as inrush current, can normally be higher than the initial operating current of an equipment. This current can cause circuits to fail and can damage electrical equipment in general. Additionally, inrush current limiters promote smooth operation of electronic devices. These limiters are used in a variety of electrical and electronic equipment, along with industries like medical, automotive, and electrical component manufacture. Furthermore, inrush current limiters are often available in positive and negative coefficient thermistor, which assist in comprehensive equipment protection, stabilization, and improved operation.
Inrush current limiter market is anticipated to reach USD 3.8 billion, growing at a CAGR of 9.2% during the forecast period, owing to growing global usage of electric powered equipment across various sectors and users. Inrush current limiters are actively used in several industries including automotive, industrial machinery, and information & communication technology. Moreover, the efficient and powerful use of electronic devices require better safety so that these devices don’t get any internal or any external damage. Furthermore, inrush current limiters perform better in regulating inrush currents, which allow devices to be used more efficiently. Therefore, the advancement of electrical devices used across industries will have a direct impact on the growth of inrush current limiters market.
Source: Fatpos Global
By End-User, Inrush Current Limiter Market is segmented into Information and Communication Technology (ICT), Automotive, Industrial Machinery, Healthcare, Consumer Electronics and Energy. The ICT segment is expected to dominate the market as modern ICT devices like smartphones or computers use several electric components. Businesses use ICT solutions to improve operational efficiency and competitiveness, but governments prioritize ICT investments for national development. It provides data-based insights, which promotes informed decision-making. This dominance highlights the crucial role of ICT in moulding the future of society and industries worldwide. Additionally, modern inrush current limiter is scalable and assist in integrating with these designs. Therefore, as the global ICT industry expands, the demand for advanced inrush limiters will keep on increasing.
By Type, Inrush Current Limiter Market are segmented into Negative Temperature Coefficient Thermistor (NTC), Positive Temperature Coefficient Thermistor, and Others. The negative temperature coefficient thermistor segment will likely dominate the market as NTC are usually less expensive as compared to other alternatives such as power temperature coefficient thermistor and electronic switches, owing to the simpler design which is easier to manufacture. Additionally, NTC require minimal space to operate with lower power requirements. It has faster response rate and can withstand higher inrush currents. Moreover, NTC excel in low-voltage applications where other alternatives can be low and impractical. Therefore, the overall simplicity and effectiveness makes NTC suitable and dominant in the Inrush Current Limiter Market.
Source: Fatpos Global
Increasing Demand for Electronics Will Influence Positive Market Growth
Increasing use of electronic devices across various sectors is a primary driver for inrush current limiter market. Industries such as consumer electronics, automotive, and industrial automation use electric devices due to which adoption of inrush current limiter is on a rise. Most electric devices have inrush currents when plugged in, without which high voltages can damage the equipment internally and externally. Inrush current limiters play an important role by controlling and converting the high power load into sustainable levels which is used by the electronic equipment more efficiently. Therefore, as more industries and individuals are moving towards the use of electronic equipment such as robots, heavy transformers, or smartphones, the demand for inrush current limiters will rise further.
Rising Awareness for Safety Regulations Demands Inrush Current Limiters
The more safety rules are implemented by industries, the more efficiently electronics and automotive segments can adopt protective measures against power overload. Electronic devices play an essential role in people's daily lives, due to which it is critical that they are protected. Governments and industrial organisations have developed standards for measuring unregulated inrush currents. Thus, manufacturers must follow the rules which are established by regulatory authorities to ensure the safety of the product. Therefore, inrush current regulator can help in reducing power surges during the device startup to assure the safety of electronic equipment.
High Cost of Inrush Current Limiters can Affect its Market Expansion
High cost of inrush current limiters restricts their widespread usage across diverse industries. Inrush limiters have a superior current control and a rapid reaction time, due to which their cost could be higher than that of less expensive options. Moreover, industries require affordable equipment that doesn't deplete their earnings while still allowing them to sustain higher prices. Furthermore, achieving a balance between performance and cost is important for ensuring that investments in inrush current limiters provide ideal value without causing financial hardship. Thus, while recognizing the benefits of advanced inrush current limiters, organizations must consider their budgetary limits and financial sustainability while making procurement decisions in order to improve productivity and profitability.
Inrush Current Limiter Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The Asia-Pacific region dominates the Inrush Current Limiter Market, owing to the rapid industrialization in developing counties such as China and India. The Asian market is projected to be the fastest growing, due to the rising awareness of the benefits of inrush current limiters and its increased application in power generation or consumer electronics. Moreover, government spending, along with investments in the infrastructure is also responsible for the growth of Asia Pacific market.
Simultaneously, the North American region will experience gradual growth, due to the early adoption of inrush current limiters, combined with high demand for electronics and high adoption rate of these limiters across several industries, which will directly benefit in maintaining a stable growth rate across the North America region.
Source: Fatpos Global
Covid-19 pandemic had a mixed impact on the inrush current limiter market, which affected the regions through lockdowns and restrictions, that hampered the production of manufactured products and led to temporary price fluctuations. There was a low demand for inrush current limiters in industries such as travel and hospitality due to less usage of electric equipment and devices. Additionally, rising demand of current limiters in the healthcare sector for equipment like ventilator and monitor boosted the market growth. Moreover, the increase in shopping through online marketplace, further led to the increase in demand for electronics and so for current limiters. Therefore, the pandemic presented its own set of challenges, to which the market eventually adapted and continued its growth trajectory.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2034 |
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Base Year |
2023 |
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Forecast Period |
2024-2034 |
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Historical Period |
2019-2022 |
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Growth Rate |
CAGR of 9.2% from 2024-2034 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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By Type |
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By Application |
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By End User |
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By Region |
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Inrush Current Limiter Market size was values at USD 1.5 billion in 2023 and is projected to reach the value of USD 3.8 billion in 2034, exhibiting a CAGR of 9.2% during the forecast period.
Inrush Current Limiters are devices which are commonly designed to control the current when an electrically powered equipment is turned on. The current also referred to as inrush current can normally be higher than the initial operating current of an equipment.
Negative Temperature Coefficient segment and Information & Communication Technology (ICT) segment accounted for the largest Inrush Current Limiter Market share.
Key players in the Inrush Current Limiter Market include Murata Manufacturing Co., Ltd., Ametherm, Inc., Thermometrics Corporation, CLIMAX Technology Co., Ltd., Eaton Corporation, Selco Products Company, Vishay Intertechnology, Inc., TE Connectivity Ltd., TDK Corporation, Amphenol Advanced Sensors, Riedon Inc., Amveco Magnetics, Cantherm, STMicroelectronics and Other Prominent Players.
Increasing demand for electronics and rising awareness for safety regulations are the major factors driving the inrush current limiter market.
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