Thermal Protector Market Size, Share & Trends Forecast to 2028

Global Thermal Protector Market Size, Share & Industry Trends Analysis Report By Application (Motor, Compressor, Transformer and Others), By Regional Outlook and Forecast, 2022 - 2028

Published Date: September-2022 | Number of Pages: 106 | Format: PDF | Report ID: KBV-20070

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COVID-19

Get in-depth analysis of the COVID-19 impact on the Thermal Protector Market

Market Report Description

The Global Thermal Protector Market size is expected to reach $80.8 million by 2028, rising at a market growth of 4.7% CAGR during the forecast period.

A thermal protector safeguards the compressor, motor, and transformer of an electronic appliance from high temperatures. When certain temperatures are reached, it cuts off the current and restarts it when the temperatures stabilize. When a motor runs at its rated voltage freezes up for any reason while still receiving power, thermal protection, a type of fan motor protection, is activated. A thermal relay located inside the motor is used to cut off the circuit to the winding coil when the temperature is too low to prevent burning.

Thermal Protector Market Size - Global Opportunities and Trends Analysis Report 2018-2028

The thermal relay senses the winding coil's temperature and operates by being linked in series with the coil. When the term thermal protection is used to describe an electric motor, it refers to a component inside the motor or rotor compressor that is intended to stop potentially dangerous overheating that could result in motor failure. This overheating typically happens as a result of the motor being overloaded, when a bearing seizes, when something jams the motor shaft and inhibits it from moving, or when the motor just struggles to start.

A motor's faulty start windings may be the reason it would not start. In addition to an external control device, the thermal protector includes one or more heat-sensing components that are integrated inside the motor or motor compressor. When an excessive amount of heat is produced inside the motor circuits, the thermal protection is there to switch the motor off. The temperature rise is stopped by this safety mechanism before it can damage the motor.

COVID-19 Impact Analysis

The world economy was majorly hampered due to the abrupt emergence of the COVID-19 pandemic. The entire market and supply chain has suffered as a result of the outbreak. Due to the ongoing lockdown in nearly every country in the world, the COVID-19 pandemic compelled the entire shutdown of production facilities that do not fall under the category of vital products. All industrial and commercial sectors of the world economy were adversely affected by the pandemic. Consumption decreased as a result of the worldwide lockdowns that each nation implemented. The distribution of the raw material was further hampered.

Market Growth Factors

A Surge in the Growth of the Industrial Sector

Industrial, or manufacturing, industry is rapidly growing all over the world. The rapidly developing Industry 4.0" technologies, which include artificial intelligence, advanced robotics, and the internet of things, are poised to significantly transform manufacturing all over the world. This will have significant ramifications for the conventional role of manufacturing in structural transformation, economic growth, and job creation. As routine low-skill operations become more mechanized, developing countries' comparative advantage within low-skill as well as low-labor-cost production is in jeopardy.

Widespread Urbanization in The Modern Era

The disposable income of people all over the world is increasingly surging in recent years. Due to this, a number of people are migrating from rural areas to urban areas as well as big metropolitan cities. It is increasing the scale of urbanization majorly. Urbanization happens naturally or on purpose as a result of individual, group, and governmental action. Living in a metropolitan area can be advantageous from an economic as well as cultural standpoint because it can offer more employment prospects, better educational chances, better housing options, and safer living circumstances, as well as cut down on travel time and costs.

Marketing Restraining Factor:

Uncertainty in the Prices of Components and Raw Material

However, there are a number of benefits to the cost of electricity when leveraging thermal protectors, the cost of the raw material it is made up of keeps fluctuating. There are a number of raw materials, like, copper, aluminum, and other metals, that made up the thermal protector. The prices of these materials keep on fluctuating day to day. In general, there is a variety of causes for price fluctuations in scrap. For instance, the demand for scrap metal may cause prices to fluctuate quickly. Moreover, the pace of production in industries, like building, technology, or the manufacture of electrics also has an impact on costs.

Thermal Protector Market Share and Industry Analysis Report 2021

Application Outlook

Based on Application, the Thermal Protector Market is segmented into Motor, Transformer, Compressor, and Others. In 2021, the transformer segment witnessed a significant revenue share of the thermal protector market. A thermal safety relay for transformers is a device that can calculate thermal overload using a mathematical model based on the temperature and transformer load. Moreover, the transformer is a powerhouse that supplies electricity to a wide range of devices and appliances. Due to significant stress, there are a lot of chances that the transformer would overheat.

Thermal Protector Market Report Coverage
Report Attribute Details
Market size value in 2021 USD 59 Million
Market size forecast in 2028 USD 80.8 Million
Base Year 2021
Historical Period 2018 to 2020
Forecast Period 2022 to 2028
Revenue Growth Rate CAGR of 4.7% from 2022 to 2028
Number of Pages 106
Number of Tables 180
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling
Segments covered Application, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • A Surge in the Growth of the Industrial Sector
  • Widespread Urbanization in The Modern Era
Restraints
  • Uncertainty in the Prices of Components and Raw Material

Regional Outlook

Region-wise, the Thermal Protector Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, Asia-pacific accounted for the largest revenue share of the thermal protector market. The growth of this segment is significantly rising as a result of the quick industrialization occurring in nations, like India and china. The regional thermal protector market is also being driven by government regulations and the rising demand from various sectors for high degrees of precision and efficiency.

Free Valuable Insights: Global Thermal Protector Market size to reach USD 80.8 Million by 2028

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sensata Technologies Holdings PLC, Haier Smart Home Co., Ltd. (Haier Group Corporation), Changshu Tianyin electromechanical Co., Ltd., Portage Electric Products, Inc., Guangzhou Senbao Electrical Appliances Co., Ltd., Thermtrol Corporation, Calco Electric Corp., Dongguan Hen Hao Electric Co., Ltd., Jiangsu Changsheng Electric Appliance Co., Ltd., Seki Controls Co., Ltd.

Scope of the Study

Market Segments Covered in the Report:

By Application

  • Motor
  • Compressor
  • Transformer
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Sensata Technologies Holdings PLC
  • Haier Smart Home Co., Ltd. (Haier Group Corporation)
  • Changshu Tianyin electromechanical Co., Ltd.
  • Portage Electric Products, Inc.
  • Guangzhou Senbao Electrical Appliances Co., Ltd.
  • Thermtrol Corporation
  • Calco Electric Corp.
  • Dongguan Hen Hao Electric Co., Ltd.
  • Jiangsu Changsheng Electric Appliance Co., Ltd.
  • Seki Controls Co., Ltd.

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Related Reports:

North America Thermal Protector Market Report 2022-2028

Europe Thermal Protector Market Report 2022-2028

Asia Pacific Thermal Protector Market Report 2022-2028

LAMEA Thermal Protector Market Report 2022-2028

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