The latest market report published by Credence Research, Inc. “Global NTC Thermistors Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2030”. The Global NTC Thermistors Market generated revenue of around USD 12348.5 million in 2022 and is anticipated to grow a CAGR of over 9.50% during the forecast period from 2023 to 2030 to reach around USD 23308.4 million in 2030.
Negative temperature coefficient (NTC) thermistors are primarily used as temperature sensors. NTC thermistors are used for various applications in the automotive industry. The rising demand for cost-effective high-sensitivity sensors is creating opportunities in the market. R&D for developing novel products in the market is also driving market growth. Moreover, growing manufacturing units and the rising need for temperature sensors in units that maintain a certain temperature are anticipated to fuel the market growth during the forecast period
The global NTC Thermistors market is bifurcated into Type, Application, and Industrial Vertical. Based on type, the market is categorized into positive temperature coefficient (PTC), negative temperature coefficient (NTC), and thin film RTD. On the basis of application, the global market is segmented into temperature control, temperature monitoring, industrial electronics, motor drives, power supplies, converters, heat-sink, and others. Based on the industrial vertical, the market is fragmented into chemical and petrochemical, oil and gas, energy and power, automotive, food and beverages, healthcare, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2021, North America dominated the global NTC Thermistors market and accounted for a major market revenue share. The demand for NTC thermistors is increasing as they offer inrush current protection to various machinery or equipment. The growing use of NTC thermistors in smart homes, such as for temperature, is driving market growth in this region. Rising demand for the miniaturization of devices is also boosting the market’s growth during the forecast period.
The NTC thermistor market faces many challenges, which include high competition, fierce price wars, and the need for continuous innovation. In order to succeed in this market, companies need to have a strong competitive advantage. Otherwise, they will be quickly outpaced by their rivals.
One of the biggest challenges in the NTC thermistor market is the high degree of competition. There are a large number of players vying for market share, and all of them are fighting tooth and nail to win business. This means that companies need to have a very strong competitive edge in order to succeed. Otherwise, they will be quickly outpaced by their rivals.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global NTC Thermistors market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global NTC thermistor market segmentation based on type, application, and industrial vertical.
- The global NTC Thermistors market report also includes analyzing the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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