Inrush Current Limiter Market Size, Share, Growth Analysis, By Type(Negative temperature coefficient (NTC) thermistors, positive temperature coefficient (PTC) thermistors, and fixed resistors), By End-user(Automotive, industrial, energy, and others), By Region - Industry Forecast 2024-2031

Inrush Current Limiter Market size was valued at USD 1.34 billion in 2022 and is poised to grow from USD 1.46 billion in 2023 to USD 2.91 billion by 2031, at a CAGR of  9.00% during the forecast period (2024-2031).

Inrush current limiter, a thermistor produced from transition metal oxide material, that has been formed at extremely high temperatures, and can easily and effectively protect circuits of electrical and electronic devices against inrush currents as it is a component used to limit inrush current for keeping away from cumulative damage to components, blowing fuses or tripping circuit breakers. They exhibit several advantages over their alternatives that include offering a single-part solution. This eliminates the need for a resistor, relay, and timer, making it cost-effective and less complex. They are also more reliable because they do not contain moving parts nor require logic control; and are more cost-effective on account of power consumption during continuous operation.

The increasing demand from the power generation industry coupled with the increased usage of current limiters in industrial applications will surely drive the current limiter market during the forecast period. The scope is huge as its positive impact and benefits of inrush current limiters can be seen in current green energy applications which are continually expanding and developing since the last few years.

US Inrush Current Limiter Market is poised to grow at a sustainable CAGR for the next forecast year.