Circuit protection components are used to safeguard low voltage devices from the latch ups or damage caused by lightning or electrostatic discharge (ESD). The main goal of circuit protection components are safety and reliability. Safety is assured by these components by disconnecting power in the circuit in case of overvoltage or over-current that further eliminates the electrocution and fire threats. A circuit breaker or fuse is generally installed as circuit protection components to prevent the wire conductor from overheating & damaging the electronic equipment or circuitry. Circuit protection components are integrated into different types of equipment including cell phones, medical equipment, computers & laptops, game systems, DVD players, battery packs, ATM machines, computer peripherals, modems, wireless communication systems, set top boxes, portable electronics, and network systems to avoid the reduction in lifespan and for better efficiency. In the automotive vehicles, circuit protection components are usually used to enhance the driving assistance, passenger comfort, and safety.
As per analysis, “Global Circuit Protection Components Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global circuit protection components market include Thinking Electronics, Littelfuse, INPAQ, TA-I Technology, Brightking, Amotech, Sunlord Electronics, Polytronics, TE, Lite-on Semiconductor, Dongguang Micro-Electronics, Changyuan Wayon, Amotech, Sunlord Electronics, TDK-EPCOS, Shanghai Keter Polymer Material, Ningbo Nenshi Communications Equipment, Zhenjiang Hiya Electron, Changyuan Wayon, Shenzhen Bencent Electronics, Xinxing Electronic Ceramics, Epcos Electronics, Changzhou Guangda Electron and among others. Leading companies are increasingly focusing on providing a series of products catering to the automotive electronics segment to meet the sturdy demand for advanced circuit protection devices to safeguard the sensitive & costly automobile electronic components.
Based on type, circuit protection components market is segmented as overvoltage protection component and over-current protection component. In addition, based on application, market is segmented as PC, mobile phone, automotive electronics and high-power LED lighting.
The circuit protection components market is driven by growth of the global electronics industry, followed by rise in consumption of electricity among consumers, increase in popularity of slim & smart portable appliances and rise in consumer awareness regarding the quality & standards of electronics products, rapid growth of smart portable appliances with faster processors, better power densities, improved sensitivity, and extended battery life. Apart from this, strict government regulations pertaining to use of SF6 circuit breaker technology and rise in prices of raw materials used in circuit protection devices may impact the market. Moreover, Internet-of-Things (IoT) technology applications in which smart-sensors are used to streamline data collection is likely to present huge market growth opportunity.
Based on geography, the North-America region holds major share in global circuit protection components market owing to up-gradation of the aging power grid infrastructure and rise in demand for automotive electronics applications across the region. The Europe and Asia-Pacific regions are anticipated to exhibit substantial growth rate due to continued expansion of construction industry over the forecast period. It is estimated that future of the global circuit protection components market will be bright caused by rapid industrialization & urbanization in the developing nations coupled with growth in applications in smart devices during the forecast period.
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Ankur Gupta, Head Marketing & Communications