Kings Research today announced the release of its latest market intelligence study, “Global Thermal Protector Market: Size, Share, Trends & Forecast 2024–2031.” The report delivers an in-depth analysis of the market’s growth trajectory, including forecasts, drivers, opportunities, and competitive dynamics.
According to Kings Research, the global thermal protector market was valued at USD 67.2 million in 2023 and is projected to grow from USD 69.4 million in 2024 to USD 88.6 million by 2031, at a CAGR of 3.55% during the forecast period. Increasing demand for thermal protection systems in electric vehicles (EVs), home appliances, and industrial equipment is driving steady growth in this market.
Thermal protectors are critical safety devices designed to prevent overheating and ensure the safe operation of electrical and electronic systems. These components are widely used in household appliances, automotive systems, industrial machinery, and HVAC equipment to protect against thermal faults. As industries adopt advanced technologies, demand for reliable thermal protection systems is rising significantly.
According to a report by the International Energy Agency (IEA), approximately 14 million new electric cars were registered worldwide in 2023, with EV sales surpassing the previous year by 3.5 million, a 35% year-over-year increase (Source: https://www.iea.org/). This surge is driving demand for high-performance thermal protectors in electric drivetrains and battery management systems.
Kings Research highlights the following growth factors:
- Electric Vehicle Adoption
The surge in electric vehicle (EV) production is driving demand for thermal protection solutions in battery systems, electric motors, and charging stations. Efficient thermal management is crucial to ensure safety and operational efficiency in EVs.
- Home Appliance Industry Expansion:
China's home appliance industry posted revenue of 1.84 trillion yuan in 2023, up 7% year-on-year, with profits reaching 156.5 billion yuan, an increase of 12.1% year-on-year (Source: https://en.cheaa.org/). This growth is fueled by increasing appliance penetration and consumer demand for smart appliances, driving the need for reliable thermal protection devices.
- Regulatory & Safety Standards
Rising emphasis on product safety and compliance with international safety regulations is boosting the adoption of thermal protection devices across sectors. As regulations push the industry toward safer and more efficient thermal systems, they also create real-time market pull.
- Industrial Equipment Modernization
The growth of automated manufacturing and industrial automation is increasing the need for reliable thermal protection to prevent equipment damage and ensure process safety. The proliferation of electric motors in various sectors necessitates reliable thermal protection solutions.
For decision-makers—CIOs, CTOs, COOs—the thermal protector market offers strategic benefits:
- Safety Assurance: Minimizing risks of overheating and equipment failure.
- Operational Reliability: Enhanced system stability and longevity.
- Regulatory Compliance: Adherence to evolving safety and performance standards.
- Market Differentiation: Innovative thermal protection solutions strengthen product competitiveness.
Regional Outlook
- Asia-Pacific (APAC): Asia-Pacific (APAC) is the largest and fastest-growing market for thermal protectors, driven by strong growth in the electric vehicle sector and a booming home appliance industry, particularly in China, Japan, and South Korea. Increasing investments in EV infrastructure and manufacturing, coupled with rising urbanization and demand for advanced appliances, are fueling adoption.
- North America: North America is witnessing steady growth, supported by industrial modernization, stringent safety regulations, and increasing EV adoption. The region’s focus on sustainability, along with technological advancements in industrial automation and electric mobility, is further strengthening demand for thermal protection solutions.
Competitive Landscape
Key players in the thermal protector market are advancing their product portfolios through innovation, partnerships, and global expansion. Leading companies include Sensata Technologies, Xiamen SET Electronics Co., Ltd., SAFTTY Technologies, Calco Electric, Tex Tech Industries, BSTFLEX, Portage Electric Products, Inc., Thermik Gerätebau GmbH, AUPO, Focus Sensing and Control Technology Co., Ltd., SEKI Controls Co., Ltd., Kangrong Electronic Co., Ltd., Dongguan Heng Hao Electric Co., Ltd., Uchihashi Estec Co., Ltd., and Sensience.
The full Kings Research report offers detailed segmentation by type, application, and geography, along with competitive benchmarking. To request a sample, access the full report, or explore custom consulting services, please visit https://www.kingsresearch.com/thermal-protector-market-1645.
About Kings Research
Kings Research is a global provider of syndicated research reports and consulting services, helping organizations navigate emerging markets, assess opportunities, and make informed business decisions.
All market data are sourced from Kings Research proprietary analysis, validated against credible industry sources. Examples cited include the National Bureau of Statistics of China (stats.gov.cn) and the International Energy Agency (iea.org).