The Worldwide Thermal Protector Industry is Expected to Reach $80.8 Million by 2028
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "Global Thermal Protector Market Size, Share & Industry Trends Analysis Report By Application (Motor, Compressor, Transformer and Others), By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
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.
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 is expected to 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.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
18.104.22.168 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Thermal Protector Market by Application
3.1 Global Motor Market by Region
3.2 Global Compressor Market by Region
3.3 Global Transformer Market by Region
3.4 Global Others Market by Region
Chapter 4. Global Thermal Protector Market by Region
Chapter 5. Company Profiles
5.1 Sensata Technologies Holdings PLC
5.1.1 Company Overview
5.1.2 Financial Analysis
5.1.3 Segmental and Regional Analysis
5.1.4 Research & Development Expense
5.1.5 Recent strategies and developments:
22.214.171.124 Acquisition and Mergers:
5.2 Haier Smart Home Co., Ltd. (Haier Group Corporation)
5.2.1 Company Overview
5.2.2 Financial Analysis
5.2.3 Segmental and Regional Analysis
5.2.4 Research & Development Expense
5.3 Changshu Tianyin electromechanical Co., Ltd
5.3.1 Company Overview
5.3.2 Financial Analysis
5.3.3 Regional Analysis
5.3.4 Research & Development Expenses
5.4 Portage Electric Products, Inc.
5.4.1 Company Overview
5.5 Guangzhou Senbao Electrical Appliances Co., Ltd.
5.5.1 Company Overview
5.6 Thermtrol Corporation
5.6.1 Company Overview
5.7 Calco Electric Corp.
5.7.1 Company Overview
5.8 Dongguan Heng Hao Electric Co., Ltd.
5.8.1 Company Overview
5.9 Jiangsu Changsheng Electric Appliance Co., Ltd.
5.9.1 Company Overview
5.10. Seki Controls Co., Ltd.
5.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/5wgej6
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/the-worldwide-thermal-protector-industry-is-expected-to-reach-80-8-million-by-2028--301729357.html
SOURCE Research and Markets