Inrush Current Limiter Market Size, Share & COVID-19 Impact Analysis, By Type (Negative Temperature Coefficient Thermistor, Positive Temperature Coefficient Thermistor, and Others), By End-User (Automotive, Consumer Electronics, Industrial Machinery, Energy, Information and Communication Technology, Healthcare, and Others), and Regional Forecast, 2023-2030

The global inrush current limiter market size was valued at USD 1.24 billion in 2022. The market is projected to grow from USD 1.32 billion in 2023 to USD 1.93 billion by 2030, exhibiting a CAGR of 5.58% during the forecast period.

One of the significant trends in the market is the growing demand for energy-efficient solutions. As industries and consumers alike focus on lowering energy consumption and reducing their carbon footprint, inrush current limiters are being utilized to minimize the initial surge of current when electrical equipment is powered on. This helps reduce energy wastage and improve overall system efficiency.

With the increasing adoption of renewable energy sources such as solar and wind power, the limiters play an important role in protecting sensitive electronics and components within these systems. They prevent damage caused by sudden high currents when renewable energy systems are started.

COVID-19 IMPACT

COVID-19 Severely Impacted The Market Due To Disruption In The Supply Chains

The pandemic disrupted global supply chains, causing delays in the production and distribution of electronic components, including inrush current limiters. Many manufacturers faced challenges in sourcing raw materials and components, leading to potential supply shortages and production delays. Lockdowns and social distancing measures forced many manufacturing facilities to shut down or reduce their production capacity temporarily. This had a direct impact on the production of inrush current limiters and related equipment. The product demand has fluctuated during the pandemic. Some industries, such as healthcare and data centers, have seen increased demand for electronic equipment, potentially driving up the need for the product.

Conversely, industries such as automotive and aerospace may have experienced decreased demand, affecting the market differently. The economic uncertainty caused by the pandemic may have led some companies to postpone or cancel projects, impacting the demand for the product.

The pandemic accelerated the trend toward remote work and digitalization, which, in turn, have increased the demand for certain electronic equipment that deploy these limiters. As the pandemic situation evolved, industries and businesses adapted to the new normal. Some companies have invested in infrastructure upgrades and equipment, potentially benefiting the inrush current limiter market growth.

Inrush Current Limiter Market Trends

Increasing Product Usage in the Automotive Industry to Create an Opportunity for Market Growth

The increasing usage of inrush current limiters in the automotive industry presents a significant opportunity for developing the market. The automotive industry is undergoing a transformation driven by electrification, advanced driver assistance systems (ADAS), and increasing connectivity. With the rapid growth of electric and hybrid vehicles, managing the initial current surge during battery charging and power-on becomes crucial. Inrush current limiters ensure a controlled and gradual power-up process, preventing stress on electrical components and batteries. The limiters can also be used to regulate the release of battery energy in electric vehicles, Li-Ion pre-charge circuits, and electric vehicle battery chargers.

As charging infrastructure for EVs expands, the need for reliable power management solutions grows. Inrush current limiters contribute to smooth and efficient charging, minimizing electrical disturbances and reducing the risk of equipment damage. They are essential for EVs in BMS (Battery Management System). They help manage the startup of power electronics components, ensuring battery systems' safe and reliable operation. The limiters with start-stop systems are used in conventional internal combustion engine vehicles. They help manage the current surge when the engine restarts, enhancing overall system durability. As vehicles incorporate more sophisticated electronics, ADAS technologies, and infotainment systems, inrush current limiters contribute to maintaining stable power delivery and protecting sensitive components.

Modern vehicles feature numerous electronic components, from entertainment systems to navigation and communication modules. Inrush current limiters play a role in ensuring these systems start reliably and smoothly. The automotive industry places paramount importance on safety and reliability. The limiters contribute to preventing electrical malfunctions that could impact vehicle safety. As the automotive industry faces increasingly stringent safety and emissions regulations, inrush current limiters can help meet these requirements by ensuring safe and efficient power management.

Major vendors such as TE Connectivity are leading providers of advanced automobile connectivity solutions a. The automotive industry utilizes the company’s products in automotive technologies for body and chassis systems, convenience applications, driver information, infotainment solutions, miniaturization solutions, motor and powertrain applications, and security and safety systems. The automotive sector offers 71% of the segment’s net sales and commercial transportation offers 17% of the segment’s net sales.

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Inrush Current Limiter Market Growth Factors

Rising Demand for Consumer Electronics and Increased Need for Inrush Current Limiters To Drive Market Growth

The demand for consumer electronics devices, such as smartphones, laptops, tablets, smart TVs, and more, is consistently increasing due to factors such as improved features, higher processing power, connectivity, and design innovations. When these electronic devices are powered on, an initial surge of current flows through their circuits. This surge can stress components and trip circuit breakers, leading to malfunctions or reduced device lifespan. Inrush current limiters are designed to address this power-on surge. By gradually allowing current to flow in, they prevent sudden spikes and help manage the initial current surge, protecting internal components and enhancing device longevity.

As consumer electronics become more sophisticated and expensive, manufacturers are increasingly focused on ensuring safety and reliability. The limiters are vital in preventing damage, fire hazards, and disruptions caused by excessive inrush currents. Consumer electronics manufacturers must comply with safety and energy efficiency standards set by various regulatory bodies. The limiters aid in meeting these standards by controlling power-on surges and contributing to more efficient energy usage.

Major vendors such as TDK Corporation, Murata Electronics, and Ametherm offer the most reliable and effective inrush current limiting solutions. For instance, Ametherm offers the standard surge limiter series, which features devices designed to protect electrical systems from damaging power surges. These surge limiters are Underwriters Laboratories (UL) Rated for their security and performance. With inrush current prevention potential of up to 90 Joules of energy and 10 Amps of current, they offer a vigorous defense against sudden voltage spikes.

Considering another instance, in April 2021, Murata Electronics extended its portfolio of PTC (positive temperature coefficient) surface-mount chip thermistors for overheat sensing by announcing the PRF03BB541NB7RL. These thermistors are optimized for incorporation into numerous consumer electronic products and devices such as wearable technology, smartphone handsets, and tablets.

Advancements in the Technology to Drive Market Growth

The advancements in inrush current limiter technology are a significant driver for the growth of the market. As technology improves, the limiters become more efficient, versatile, and adaptable to various applications.

Innovations lead to inrush current limiters that can handle higher power loads while maintaining their effectiveness in limiting inrush currents. This expanded capacity makes them suitable for a broader range of devices and systems. Advancements in materials and design techniques allow for the creation of smaller and more compact inrush current limiters. This is crucial for modern electronics, where space is often at a premium.

Many vendors are also involved in producing modern inrush current limiter technology. For instance, Vizimax Inc. offers SynchroTeq Lite, a compact inrush current limiter mainly created for high-voltage spring-type circuit breakers. The company also offers SynchroTeq Plus, which is the most advanced limiter on the market for managing high-voltage circuit breakers. Its smart technology reduces harmful transients by switching at optimal moments, providing electrical grids that are more steady and offering critical asset prevention.

Considering another instance, TTI, Inc. offers Amphenol Advanced Sensors CL Series inrush current limiters. This inrush limiter series is obtainable with straight leads or kinked and taped and reeled to EIS RS-468A for automatic insertion. They operate as power resistors, which are capable of restricting surge current when high cold resistance drops to low hot resistance with current flow. Amphenol advanced sensors CL series inrush current limiters are used in power supplies, inverters, motors, and fluorescent lamps.

Newer technologies allow inrush current limiters to be more adjustable and customizable. Manufacturers can tailor these limiters to meet the specific needs of different devices, improving their performance and longevity. Some modern limiters come equipped with digital monitoring and control features. This allows for real-time monitoring of current levels and the ability to adjust parameters remotely.

RESTRAINING FACTORS

Availability of Alternative Current Limiting Components May Restrain the Growth of the Market

The availability of alternative current limiting components is a significant factor that can restrain the growth of this market. These alternative solutions might address the same or similar concerns, potentially diverting the product demand.

Soft-start circuits are created to moderately ramp up voltage and current during power-on, lowering the impact of inrush current. While not identical to inrush current limiters, they serve a similar purpose and can be a preferred choice in certain applications. Some devices use thermal circuit breakers to protect against overcurrent conditions, which can indirectly address the inrush current issue by interrupting power if excessive current is identified. Active PFC circuits improve energy efficiency and can also help manage inrush current. They are favored in devices where power factor correction is a primary concern.

Some power supply modules come with built-in inrush current limiting features, lowering the need for standalone limiters. Alternative solutions may be considered as more cost-efficient, leading manufacturers to opt for them over traditional inrush current limiters. If existing designs already integrate alternative solutions, manufacturers might be reluctant to switch to inrush current limiters due to compatibility challenges.

Inrush Current Limiter Market Segmentation Analysis

By Type Analysis

Negative Temperature Coefficient Thermistor to Dominate the market due to cost-effective solution

Based on type, the global market is segmented into negative temperature coefficient thermistors, positive temperature coefficient thermistors, and others.

The negative temperature coefficient thermistor segment is projected to lead the global market share. NTC thermistors are a reliable and cost-effective solution for overcoming current limitations, and they have a long operational life when used within their specified parameters, which provides a boost to the market. NTC thermistors come in various shapes and sizes, making them versatile for different applications. They can be incorporated into various electronic circuits and systems. NTC thermistors have been widely adopted in various industries, including consumer electronics, industrial equipment, automotive applications, and others.

By End-User Analysis

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Automotive Segment to Hold the Largest Share of market as adoption of EVs and hybrid vehicles is on rise

Based on end-user, the global market is segmented into automotive, consumer electronics, industrial machinery, energy, information and communication technology, healthcare, and others.

The automotive segment is expected to take the lead in the global market because the automotive industry is undergoing a significant transformation with the increasing adoption of electric vehicles (EVs) and hybrid vehicles. These vehicles often require inrush current limiters to protect sensitive electronic components when the vehicle is started or powered up. Inrush current limiters help prevent damage due to sudden surges in current, making them essential for modern automotive electronics.

REGIONAL INSIGHTS

By region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Among all regions, Asia Pacific holds the largest part in the inrush current limiter market share in the global market. Many countries in the Asia Pacific region, such as China, India, and Southeast Asian nations, have been experiencing rapid industrialization and infrastructure development. These activities often require a wide range of electrical and electronic equipment, where inrush current limiters are used to protect circuits and components.

North America will hold a significant share in the market. In the region, the U.S. is expected to dominate the market due to growing demand for innovative and sustainable industrial machinery, consumer electronics devices, and information technology sectors. These sectors require hi-tech, advanced technologies for operations where inrush current devices assist the powerful devices and tools as they are installed in power-based machinery. Canada is also one of the major countries contributing to the current inrush limiter owing to the boost in several sectors, including healthcare, IT, devices, and energy.

In Europe, the key factor driving the market is the growing demand for modern appliances mostly used by the residential end-user, such as home-based appliances, fans, TVs, computers, air fryers, and others. As the inrush current limiter is an essential part of any power-based devices and equipment, this helps re-cover the protection part in line with the current flow.

Latin American countries often experience infrastructure development in the energy, manufacturing, and construction sectors. As new projects are initiated, there may be an increased demand for inrush current limiters to prevent equipment during startup and prevent grid disturbances. Many countries in Latin America have been investing in renewable energy sources such as solar and wind. They can play a role in managing the initial power surges that occur when renewable energy systems are connected to the grid.

The Middle East & Africa region is diverse in terms of economies, industries, and technological adoption. Various factors, including economic growth, industrial development, energy demand, and infrastructure projects, would influence the current limiter market in this region. Many countries in the Middle East have been investing in energy infrastructure, including electrical grids and power generation. As demand for electricity grows, the need for current limiters to manage power surges and ensure stable operations also increases. Some countries in the region are focusing on expanding their renewable energy capacity.

List of Key Companies in Inrush Current Limiter Market

Eaton Acquired Power Distribution, Inc. for Broadening Data Center Power Distribution and Monitoring Solutions 

In February 2020, Power Management Company acquired Power Distribution, Inc., a major supplier of mission-critical power distribution, power monitoring services, and equipment for data centers and commercial and industrial consumers. The company had 2019 sales of USD 125 Million.

PDI is a global supplier of power distribution and monitoring solutions for data centers and other crucial or valuable electrical systems. PDI has controlling facilities in California and Virginia and hires around 450 people.

List of Key Companies Profiled:

• Eaton (Ireland)


• Ametherm (U.S.)


• Cantherm (Canada)


• Mean Well (Taiwan)


• Siemens (Germany)


• Amphenol Corporation (U.S.)


• Murata Electronics (Japan)


• TE Connectivity (Switzerland)


• TDK Corporation (Japan)


• Mouser Electronics (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• May 2023 - Ametherm, Incorporated, a global manufacturer of inrush current limiters and temperature sensing thermistors, offered the PANR 103395 thermistor. The product can be purchased at Mouser and Digi-key, making it simpler than ever to attain this accurate and reliable temperature-sensing device.


• January 2022 – Eaton acquired Royal Power Solutions. Under the agreement, Eaton paid around USD 600 million for Royal Power Solutions, around 13.6 times the company’s expected 2022 EBITDA. Eaton’s mission is to enhance the standard of life and the environment through the usage of power management services and technologies.


• December 2020 – Amphenol Corporation, a leading worldwide supplier of advanced test systems, precision sensors, and motion simulators, entered into a definitive agreement under which Amphenol would acquire MTS for USD 58.50 per share in cash, or around USD 1.7 billion, comprising the undertaking of outstanding liabilities and debt in net of cash.


• May 2020 – TTI, Inc., a global speciality distributor of electronic components, launched the Amphenol Advanced Sensor’s substantial line of MA100 and MA300 type transposable NTC chip thermistor assemblies. These would offer highly robust and accurate assemblies for temperature measurement required for neonatal warmers and incubators.


• April 2019 – Mean Well launched the first AC inrush current limiter, the ICL-16R/L (16A). It would help solve the issues faced by various end system designers concerning AC breakers. When the AC power system is powered by an inductive and capacitive load, such as a switching power supply, there is a short-term inrush current peak. This may cause AC circuit breakers to transfer even though the uninterrupted current draw is much less than the breaker ratings.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

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