The global thermal protector market was valued at $59,971.2 thousand in 2022, and is projected to reach $88,744.9 thousand by 2031, registering a CAGR of 4.5% from 2022 to 2031.
Thermal protector is a device, which protects the motor, compressor, and transformer of electronics from raised up temperatures. It disconnects the current at preset temperatures and re-establishes the current when the temperatures returns to normal. According to the International Energy Agency, worldwide energy utilization increased by 4.6% in 2021, twice than the normal rate in 2018. In addition, around 40% of electricity is being used for power electric motors. This was driven by strengthening of global economy in past few years and increase in demand for electricity. Furthermore, power demand is growing at the rate of 4%, and share of electricity in global energy consumption is estimated to reach 24% by 2040. With growing electricity requirement, the demand for electric products is expected to increase simultaneously, which is likely to drive the growth of the thermal protector market globally. In addition, with exponentially increasing population, the demand for electricity is anticipated to escalate significantly, which eventually will foster the demand for electric appliances, thereby escalating the demand for thermal protectors.
The Thermal protectors market is segmented on the basis of application and region.
On the basis of application, the market is segmented into motors, compressor, transformer and others. By region, the packaging coatings market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the dominating region in terms of demand for thermal coatings market, and is expected to maintain its dominance over the projection period. China is the main driver for the growth of Asia-Pacific thermal protector market. This is attributed to the fact that China is one of the largest consumers and producers of various home appliances and consumer electronics products.
The key players operating in the global thermal protector market include Calco Electric, Dongguan Henghao Electric Co., Ltd. Guangzhou Senbao Electrical Appliances Co., Ltd. , Haier Smart Home Co. Ltd. Jiangsu Changsheng Electric Appliance Co., Ltd. , Portage Electric Products, Inc., Sensata Technologies, Inc., Seki Controls, Thermtrol Corporation, and Tianyin Electromechanical
Thermal protector is a device, which protects the motor, compressor, and transformer of electronics from raised up temperatures. It disconnects the current at preset temperatures and re-establishes the current when the temperatures returns to normal. According to the International Energy Agency, worldwide energy utilization increased by 4.6% in 2021, twice than the normal rate in 2018. In addition, around 40% of electricity is being used for power electric motors. This was driven by strengthening of global economy in past few years and increase in demand for electricity. Furthermore, power demand is growing at the rate of 4%, and share of electricity in global energy consumption is estimated to reach 24% by 2040. With growing electricity requirement, the demand for electric products is expected to increase simultaneously, which is likely to drive the growth of the thermal protector market globally. In addition, with exponentially increasing population, the demand for electricity is anticipated to escalate significantly, which eventually will foster the demand for electric appliances, thereby escalating the demand for thermal protectors.
The Thermal protectors market is segmented on the basis of application and region.
On the basis of application, the market is segmented into motors, compressor, transformer and others. By region, the packaging coatings market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the dominating region in terms of demand for thermal coatings market, and is expected to maintain its dominance over the projection period. China is the main driver for the growth of Asia-Pacific thermal protector market. This is attributed to the fact that China is one of the largest consumers and producers of various home appliances and consumer electronics products.
The key players operating in the global thermal protector market include Calco Electric, Dongguan Henghao Electric Co., Ltd. Guangzhou Senbao Electrical Appliances Co., Ltd. , Haier Smart Home Co. Ltd. Jiangsu Changsheng Electric Appliance Co., Ltd. , Portage Electric Products, Inc., Sensata Technologies, Inc., Seki Controls, Thermtrol Corporation, and Tianyin Electromechanical
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the thermal protector market analysis from 2021 to 2031 to identify the prevailing thermal protector market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the thermal protector market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global thermal protector market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Motor
- Transformer
- Compressor
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Italy
- Spain
- Rest of Europe
- Germany
- France
- United Kingdom
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- sensata technologies, inc.
- Portage Electric Products, Inc.
- Haier Smart Home Co. Ltd.
- Guangzhou Senbao Electrical Appliances Co., Ltd.
- Thermtrol Corporation
- Calco Electric
- Dongguan Henghao Electric Co., Ltd.
- Tianyin Electromechanical
- Jiangsu Changsheng Electric Appliance Co., Ltd.
- Seki Controls Co., Ltd.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: THERMAL PROTECTOR MARKET, BY APPLICATION
CHAPTER 5: THERMAL PROTECTOR MARKET, BY REGION
CHAPTER 6: COMPANY LANDSCAPE
CHAPTER 7: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The global thermal protector market size was valued at $59,971.2 thousand in 2022, and is projected to reach $88,744.9 thousand by 2031, registering a CAGR of 4.5% from 2022 to 2031.Thermal protector is a device, which protects the motor, compressor, and transformer of electronics from raised up temperatures. It disconnects the current at preset temperatures and re-establishes the current when the temperatures returns to normal. According to the International Energy Agency, worldwide energy utilization increased by 4.6% in 2021, twice than the normal rate in 2018. In addition, around 40% of electricity is being used for power electric motors. This was driven by strengthening of global economy in past few years and increase in demand for electricity. Furthermore, power demand is growing at the rate of 4%, and share of electricity in global energy consumption is estimated to reach 24% by 2040. With growing electricity requirement, the demand for electric products is expected to increase simultaneously, which is likely to drive the growth of the thermal protector market globally. In addition, with exponentially increasing population, the demand for electricity is anticipated to escalate significantly, which eventually will foster the demand for electric appliances, thereby escalating the demand for thermal protectors. Furthermore, Asia-Pacific is anticipated to dominate the market owing to surge in growth of the overall economy. China is the main driver for the growth of Asia-Pacific thermal protector market. This is attributed to the fact that China is one of the largest consumers and producers of various home appliances and consumer electronics products. In addition, it is involved in exporting several input supplies to wide range of industries that are essentially used to produce finished goods.
The global thermal protector industry is segmented into application and region. Depending on application, the thermal protector market analysis is fragmented into motor, compressor, transformer, and others (coffee pots, automatic toasters, laminators, electric water pots, steam guns, steam irons, wind warmers, microwave ovens, and water dispensers). Region wise, the thermal protector market growth is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global thermal protector market include Calco Electric, Dongguan Henghao Electric Co., Ltd. Guangzhou Senbao Electrical Appliances Co., Ltd., Haier Smart Home Co. Ltd. Jiangsu Changsheng Electric Appliance Co., Ltd., Portage Electric Products, Inc., Sensata Technologies, Inc., Seki Controls, Thermtrol Corporation, and Tianyin Electromechanical.
IMPACT OF COVID-19 ON GLOBAL THERMAL PROTECTOR MARKET
- Emergence of COVID-19 pandemic had a moderate impact on the growth of the global Thermal Protector market trends.
- This impact is primarily attributed to significant disruptions in the supply chain and shutdown of the manufacturing and end-use industries such as electronic equipments and consumer goods, hence resulting in decline in demand for thermal Protector during this period.
- However, with the opening of market after gradual lifting of lockdown and increase in consumption of electronic equipment’s will support the market demand for thermal protectors
Key Findings of the Study
- On the basis of application, the motor segment is anticipated to exhibit the highest CAGR of 4.9% from 2022 to 2031.
- Asia-Pacific garnered the highest thermal protector market share of 45% in 2021, in terms of revenue, and is expected to grow at a CAGR of 4.8%.
Companies Mentioned
- Sensata Technologies, Inc.
- Portage Electric Products, Inc.
- Haier Smart Home Co. Ltd.
- Guangzhou Senbao Electrical Appliances Co. Ltd.
- Thermtrol Corporation
- Calco Electric
- Dongguan Henghao Electric Co. Ltd.
- Tianyin Electromechanical
- Jiangsu Changsheng Electric Appliance Co. Ltd.
- Seki Controls Co. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | June 2022 |
| Forecast Period | 2022 - 2031 |
| Estimated Market Value ( USD | $ 59971.2 thousand |
| Forecasted Market Value ( USD | $ 88744.9 thousand |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
