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NTC Thermistor Temperature Sensors Market: By Product Type (Radial Type, Diode Type, Wire Bonding Type, Others), By Application (Consumer Electronics, Medical Instruments, Automotive, Home Appliance, Industrial Equipment, Others), And Region – Global Analysis of Market Size, Share & Trends For 2021–2022 And Forecasts To 2032
NTC Thermistor Temperature Sensors Market to surpass USD 11.4 billion by 2032 from USD 6.58 billion in 2021 at a CAGR of 5.2% in the coming years, i.e., 2022-32
NTC thermistors are temperature sensors that make use of the resistance characteristics of metal or ceramic composites for measuring the temperature. NTC thermistors are employed as inrush current limiters, aka ICLs to effectively and quickly safeguard electrical and electronic device circuits from inrush currents. In terms of temperature sensing, NTC sensors provide a number of benefits, including their small size, high accuracy, exceptional long-term stability, and great precision. They are ceramic semiconductors built from different metal oxides. As the temperature rises, their electrical resistance falls. An electronic circuit processes this resistance to offer temperature measurement. Compared to other temperature sensors, they are more sensitive. They can function successfully within a narrow temperature range due to their high sensitivity.
NTC Thermistor Temperature Sensors Market to surpass USD 11.4 billion by 2032 from USD 6.58 billion in 2021 at a CAGR of 5.2% in the coming years, i.e., 2022-32. The primary drivers of the market growth are the rapid adoption of cutting-edge technology in NTC Thermistor Temperature Sensors to reduce labor costs, the growing use of Internet of Things (IoT) devices in agricultural areas, and the enormous cost savings associated with NTC Thermistor Temperature Sensors. Moreover, climate change, the need to meet the rising global food demand, and governments' greater support of NTC Thermistor Temperature Sensors approaches are all factors that favorably affect the NTC Thermistor Temperature Sensors Market growth.
NTC Thermistor Temperature Sensors Market is categorized on the basis of Product Type into Radial Type, Diode Type, Wire Bonding Type, and Others. The diode type segments are anticipated to drive the market throughout the projection period since they are most frequently used in consumer electric devices. They are the semiconductor components that are used the most in electronic circuits. The two main components of them are silicon and germanium. Diodes have many qualities and features that can be applied to various applications.
NTC Thermistor Temperature Sensors Market is categorized on the basis of Application into Consumer Electronics, Medical Instruments, Automotive, Home Appliances, Industrial Equipment, and Others. The Consumer Electronics segment is anticipated to dominate the market owing to the rising demand for consumer electronics including curved televisions, camcorders, LCD panel displays, and mobile phones. In the global NTC Thermistor Temperature Sensors Market, end-user applications like automotive, industrial, and consumer applications, home appliances are the dominant consumers of NTC thermistors.
Key Benefits of NTC Thermistors and Growing Applications in Consumer Electronics
Components miniaturization is vital in the development of digital electronics technology. This creates a requirement for very effective and practical components. Smaller portion called NTC thermistor helps measure temperature and sends a signal in case the temperature rises above a certain threshold. As compared to resistance temperature detectors and silicon temperature sensors, they are tiny components with great sensitivity, dependability, precision, good performance, and good heat resistance. The NTC Thermistor Temperature Sensors Market is growing due to these advantages. The need for numerous products that employ NTC thermistors as temperature monitors like mobile phones, LCD displays, laptops, refrigerators, printers, air conditioners, and many more, will help fuel the market growth.
Growing Demand form the Automotive Industry to Drive the Market
Around the past few years, there has been a huge demand for automobiles all over the world. To improve the entire experience, automotive electronics like frost sensors, CD players, engine temperature management, airbag electronic systems, air conditioning system, and more are connected with the vehicle's electrical components. All of these electronic gadgets contain NTC thermistors, which track the device's internal temperature to ensure proper operation. As a result, the NTC Thermistors Temperature Sensors Market will grow due to the growing demand for automobiles.
Response Time of NTC Thermistors, which Limit Application Scope
The response time by the Negative Temperature Coefficient Thermistors is a limiting issue. The NTC thermistor's range of use is constrained by longer response time to a change in temperature. Therefore, this the key factor that will prevent the growth of the NTC Thermistor Temperature Sensors Market.
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
NTC Thermistor Temperature Sensors Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America held major share of the market in the past years. The demand for thermistors is increasing throughout the forecast period due to the changing automotive landscape in the Asia-Pacific and the adoption of electric vehicles by a number of nations.
The COVID-19 epidemic had a negative impact on the NTC thermistor market. The supply chain management systems have been negatively influenced by the COVID-19 pandemic, which has had an adverse effect on the growth of the NTC Thermistor Temperature Sensors Market. The manufacturing of NTC thermistors has decreased due to manufacturing facilities required to operate with a low staff due to social distance standards. In the end, this has caused the NTC thermistors Temperature Sensors Market to grow less quickly.
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Report Attribute |
Details |
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Market Size Value in 2021 |
USD 6.58 billion |
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Revenue Forecast in 2032 |
USD 11.4 billion |
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Growth Rate |
CAGR of 5.2% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Product Type, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled |
Panasonic, TDK Electronics, TE Connectivity, Mitsubishi, Murata, Vishay, Littelfuse, AVX Corporation, Semitec Corporation, Thinking Electronic, Amphenol Advanced Sensors, Sinochip Electronics, Shibaura, Shiheng Electronics, E WAY Technology, and Other Prominent Players. |
The NTC Thermistor Temperature Sensors Market size was estimated at USD 6.58 billion in 2021 and is expected to reach USD 11.4 billion in 2032.
NTC thermistors are temperature sensors that make use of the resistance characteristics of metal or ceramic composites for measuring the temperature. NTC thermistors are employed as inrush current limiters, aka ICLs to effectively and quickly safeguard electrical and electronic device circuits from inrush currents.
The Diode Type and Consumer Electronics segments accounted for the larger share of the NTC Thermistor Temperature Sensors Market.
Key players in the NTC Thermistor Temperature Sensors Market are Panasonic, TDK Electronics, TE Connectivity, Mitsubishi, Murata, Vishay, Littelfuse, AVX Corporation, Semitec Corporation, Thinking Electronic, Amphenol Advanced Sensors, Sinochip Electronics, Shibaura, Shiheng Electronics, E WAY Technology, and Other Prominent Players.
The primary drivers of the NTC Thermistor Temperature Sensors Market growth are the rapid adoption of cutting-edge technology in NTC Thermistor Temperature Sensors to reduce labor costs, the growing use of Internet of Things (IoT) devices in agricultural areas, and the enormous cost savings associated with NTC Thermistor Temperature Sensors.
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