![]() ![]() This is attributed to the fact that China is one of the largest consumers and producers of various home appliances and consumer electronics products. China is the main driver for the growth of the Asia-Pacific thermal protector market. Furthermore, Asia-Pacific is anticipated to dominate the market owing to a surge in the growth of the overall economy. In addition, with an exponentially increasing population, the demand for electricity is anticipated to escalate significantly, which eventually will foster the demand for electric appliances, thereby escalating the demand for thermal protectors. With growing electricity requirements, the demand for electric products is expected to increase simultaneously, which is likely to drive the growth of the thermal protector market globally. Furthermore, power demand is growing at a rate of 4%, and the share of electricity in global energy consumption is estimated to reach 24% by 2040. This was driven by the strengthening of the global economy in the past few years and the increase in demand for electricity. In addition, around 40% of electricity is being used to power electric motors. Get a PDF brochure for Industrial Insights and Business Intelligence According to the International Energy Agency, worldwide energy utilization increased by 4.6% in 2021, twice than the normal rate in 2018. It disconnects the current at preset temperatures and re-establishes the current when the temperatures return to normal. A thermal protector is a device, which protects the motor, compressor, and transformer of electronics from raised temperatures. ![]() PORTLAND, OREGON, UNITED STATES, Ap/ / - The global thermal protector market size was valued at $59,971.2 thousand in 2022 and is projected to reach $88,744.9 thousand by 2031, registering a CAGR of 4.5% from 2022 to 2031. Thermal Protector Market Expected to Reach $88,744.9 thousand by 2031 - Allied Market Research
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