Thermistors Market
The market for Thermistors was estimated at $20.3 billion in 2024; it is anticipated to increase to $26.1 billion by 2030, with projections indicating growth to around $32.3 billion by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Thermistors Market Outlook
Revenue, 2024
$20.3B
Forecast, 2034
$30.9B
CAGR, 2025 - 2034
4.3%
The Thermistors industry revenue is expected to be around $21.2 billion in 2025 and expected to showcase growth with 4.3% CAGR between 2025 and 2034. Their widespread use is driven by their potential to bring about innovation not only just in electronic gadgets and appliances but also in automotive technology and other emerging fields, like renewable energy and the IOT (IoT). This showcases their ability to improve and boost performance in a variety of applications.
Thermistors are resistors that exhibit a shift in resistance based on temperature variations. They are known for their accuracy, reliability and quick response suitable, for temperature monitoring and control purposes.
Market Key Insights
- The Thermistors market is projected to grow from $20.3 billion in 2024 to $30.9 billion in 2034. This represents a CAGR of 4.3%, reflecting rising demand across Temperature Sensing and Control, Battery Charge Regulation and Circuit Protection.
- Panasonic Corporation, Vishay Intertechnology Inc, Murata Manufacturing Co. Ltd are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Thermistors market and are expected to observe the growth CAGR of 3.0% to 4.0% between 2024 and 2030.
- Emerging markets including Vietnam, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 4.7% to 6.0%.
- Transition like Emergence of Smart Technology has greater influence in United States and China market's value chain; and is expected to add $605 million of additional value to Thermistors industry revenue by 2030.
- The Thermistors market is set to add $10.6 billion between 2024 and 2034, with manufacturer targeting Industrial Equipment & Aerospace & Defense End-User Application projected to gain a larger market share.
- With Increasing demand for consumer electronics, and Advancements in automotive technology, Thermistors market to expand 52% between 2024 and 2034.
Opportunities in the Thermistors
The growing popularity of IOT presents an opportunity for advancement, in technology usage and functionality worldwide. Thermistors are also temperature sensors that can improve the effectiveness and dependability of these devices which could lead to increased use across various sectors and industries.
Growth Opportunities in North America and Europe
In North America's thermistors market competition is fierce due to the presence of global players, in electronics industry. High tech manufacturing and industrial automation sectors have driven market growth as they increasingly require temperature controlling devices. However the market is challenging with established companies investing in research and development to create thermistors. Yet new entrants have opportunities to enter with cost efficient solutions despite the tough competition.
In Europe's thermistor market is greatly impacted by the automobile industry on the continent. European automakers continue to seek top notch thermistors for different temperature sensing needs in their vehicles. Despite this demand competition is not only as intense as in North America due to product standards and quality requirements. There are growth opportunities in creating thermistors tailored for the renewable energy sector—especially in wind and solar power applications where these devices are vital, for temperature monitoring and regulation.
Market Dynamics and Supply Chain
01
Driver: Increasing Demand for Consumer Electronics
The increasing need for thermistors in consumer electronics like air conditioners and refrigerators is also driving the market forward because of their ability to detect temperature shifts and ensure device safety. Thermistors are also commonly used in these devices to prevent other issues making them essential, in the industry. The consumer electronics sector is also seeing expansion worldwide indirectly supporting the growth of the thermistor market.
In times there have also been notable technological progressions in the automotive sector with thermistors proving to be instrumental in driving these advancements forward. These devices find application in areas within vehicles such as monitoring engine coolant temperature and measuring air intake temperatures. As the industry shifts towards smarter and electric vehicles the demand, for thermistors is also expected to rise significantly thereby fuel the market growth further.
02
Restraint: Technological Limitations
One key obstacle for Thermistors is their constraints. Though Thermistors are very sensitive and provide temperature readings; they perform best in a specific temperature range only. This limits their use to settings without temperatures and hinders market growth. Alternatives are chosen by organizations needing sensors, for temperature ranges. This curbs the growth of the Thermistors market.
03
Opportunity: Market Expansion in Electric Vehicles and Augmented Demand in Consumer Electronics
The increasing interest in cars indicates a possible increase in the need for thermistors. Electronic components crucial for managing battery systems and maintaining ideal temperatures for efficient operation within these vehicles systems This emerging trend in the electric vehicle sector may open up new opportunities, for suppliers of thermistors to delve into.
The continuous development and expansion, in the consumer electronics sector present an opportunity for thermistor products to tap into the market further with the rise of smart homes trend where these devices can be utilized in appliances and systems to enhance performance and safety measures.
04
Challenge: Market Saturation and High Competition
A significant obstacle hindering the growth of Thermistors in the market is the saturation and fierce competition in the industry as there are temperature sensing technologies such, as RTDs and thermocouples also vying for market share.
Supply Chain Landscape
1
Raw Material Acquisition
TDK CorporationMurata Manufacturing Co
2
Material Processing & Manufacturing
Vishay IntertechnologyNXP Semiconductors
3
Distribution & Sales
TE ConnectivityHoneywell International
4
End-User Applications
AutomotiveAerospace and DefenceConsumer Electronics
1
Raw Material Acquisition
TDK CorporationMurata Manufacturing Co
2
Material Processing & Manufacturing
Vishay IntertechnologyNXP Semiconductors
3
Distribution & Sales
TE ConnectivityHoneywell International
4
End-User Applications
AutomotiveAerospace and DefenceConsumer Electronics
Use Cases of Thermistors in Temperature Sensing & Control
Temperature Sensing and Control : Thermistors play a role in monitoring and regulating temperatures across various industries like consumer electronics and automotive sectors as well as in aerospace and biomedical fields. Their ability to accurately sense temperature changes makes them stand out in ensuring temperature control. Honeywell is a known industry leader, in pushing the boundaries of thermistor technology for these specific applications.
Circuit Protection : Thermistors are commonly employed for safeguard in circuits. This is particularly important in power supply units, transformers, and other electronic devices susceptible to failure or harm due to varying currents. These thermistors identify surges in currents caused by temperature shifts to avert device overheating. The notable aspect of thermistors, in this context is their reaction time and reset capability offering enhanced protection. Texas Instruments stands out as a contributor known for its cutting edge thermistors used in circuit safety measures.
Battery Charge Regulation : Thermistors play a role in battery technology by controlling the flow of charging currents in lithium ion batteries used in devices such as laptops and smartphones as well, as electric cars.
Recent Developments
In years there has been notable growth in the market for thermistors. A of resistor sensitive to temperature. Due to advancements in technology and increased use across different industries with varying applications The significant advancement is the incorporation of thermistors into IOT devices which has led to their utilization in areas such, as HVAC control systems household appliances and medical equipment.
December 2024 : Honeywell International Inc has introduced a latest line of high tech thermistors designed to withstand harsh environmental conditions better than before. This development is set to strengthen the companys position in key industries, like aerospace and HVAC that are experiencing high demand.
September 2024 : Panasonic Corporation has revealed plans to increase their production capacity for thermistors in response to the growing market demand, in the electric vehicles industry.
June 2024 : Texas Instruments Incorporated introduced a series of ultra sensitive thermistors that promise to provide outstanding temperature sensing capabilities, for improved accuracy and dependable measurements.
Impact of Industry Transitions on the Thermistors Market
As a core segment of the Electrical & Electronics industry,
the Thermistors market develops in line with broader industry shifts.
Over recent years, transitions such as Emergence of Smart Technology and Rise of Green Energy Applications have redefined priorities
across the Electrical & Electronics sector,
influencing how the Thermistors market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Emergence of Smart Technology
The thermistor sector is experiencing a shift as smart technology becomes more prevalent in theindustry'slandscape. The adoption of devices is leading to improved user experiences and operational efficiency in the thermistor market particularly with the rise of smart thermostats. The utilization of the IOT has paved the way for advancements, in product innovation enabling enhanced supervision and performance analysis.
02
Rise of Green Energy Applications
The thermistor market is experiencing a shift towards renewable energy sources as more and more industries embrace green energy technologies like wind turbines and solar panels that depend on precise temperature monitoring provided by thermistors for effective operation. The increasing demand from the energy sector has created new opportunities, for businesses dealing with thermistors.