Global Thermal Protector Market Size study, by Application (Motor, Transformer, Compressor, Others) and Regional Forecasts 2022-2028

Global Thermal Protector Market Size study, by Application (Motor, Transformer, Compressor, Others) and Regional Forecasts 2022-2028

Global Thermal Protector Market is valued approximately USD 59.9712 million in 2021 and is anticipated to grow with a healthy growth rate of more than 4.5 % over the forecast period 2022-2028. A Thermal Protector is a device that protects the motor, compressor, and transformer of electronics from excessive temperature. The function of this device is to automatically disconnect the power supply when they sense that the temperature reaches the maximum preset value and reconnects when the temperature returns to normal. An increase in demand for electrical appliances also increases the demand for Thermal Protectors. The rapid expansion of the industrial, commercial and residential sectors is a major driver of market growth. 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 to power electric motors. This was driven by the strengthening of the global economy in the past few years and the increase in demand for electricity. Furthermore, power demand is growing at a rate of 4%, and the share of electricity in global energy consumption is estimated to reach 24% by 2040. Also, the rising expansion of the HVAC industry and increasing sales of Thermal Protector coupled with rapid growth in electricity consumption is expected to escalate the market’s growth in the forecast period. However, fluctuations in raw material prices such as copper, aluminum, and steel lead to an increase in electric motor prices, which, in turn, results in low demand for home appliances impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the Global Thermal Protector Market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading region in terms of market share, owing to the surge in growth of the overall economy as well as the region being the largest consumer and producer of various home appliances and consumer electronics products. Whereas the Asia Pacific is also anticipated as the fastest growing region during the forecast period owing to the rising HVAC industry and the presence of leading consumer electronics companies in the region.

Major market player included in this report are:
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.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Application:
Motor
Transformer
Compressor
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Thermal Protector Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors


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.

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