Temperature Sensors Market 2020opportunities, Sales Revenue and Forecast 2023Posted by Akash Sangshetti on December 16th, 2020 Market Overview According to Market Research Future, the global temperature sensors market is likely to witness high growth in the coming years. However, temperature sensors have applications and sectors such as Food industries, Petrochemical, oil, and energy sectors, are using temperature to produce and monitor, to maintain quality and consistency. The Temperature sensor has a varied range of applications across numerous industries such as automotive, electronics, and manufacturing. Each sensor comes in a different form, which has its distinct usage, for example, integrated circuit (IC) temperature sensor is applied in electronic applications to detect the heat released and start the cooling device. According to Market Research Future, the growing focus on workplace safety is growing the use of temperature sensors for work floor monitoring. Substantial competition in the consumer electronics industry is making OEMs offer new features in devices, subsequently creating growth in the market for temperature sensors. Hence, consumer electronics are likely to drive the market growth for temperature sensors in the forecast period. The rise in demand for environment-friendly and low-cost temperature sensors is creating more opportunities for minor companies to venture into the market. The key players are aiming at improving research and development facilities along with constant innovation to introduce sensors that are consistent with the changing requirements of end-use industries. The Temperature Sensors Market is very centralized due to the presence of several minor regional suppliers and large multinational vendors. The Temperature sensors Market is rising over 4.8% of CAGR and by the end of the forecast period is expected to reach USD $~5.93 Billion. Segmental Analysis The global temperature sensors market is segmented on the basis of product type, alloy type, application, and region. The global temperature sensors market is segmented on the basis of product type into thermocouples, infrared, bimetallic, temperature sensor ICs, thermistors, non-contact sensors, resistive temperature detectors, fiber optic temperature sensors, and others.
Key Players: The prominent players in the Temperature sensors Market are – Siemens A G (Germany), Stmicroelectronics N.V. (Switzerland), TE Connectivity (Switzerland), Ultra Electronics Holdings Plc. (U.K), UTC Aerospace Systems (U.S), Analog Devices Inc. (Us), Texas Instruments Inc. (Us), Maxim Integrated Products Inc. (Us), Honeywell International Inc. (U.S), ABB Limited (Switzerland), Emerson Electric Corporation (Us) among others. Market Research Analysis: North America is the leading revenue generator in the global temperature sensors market and is likely to retain the position over the forecast period due to the increasing demand for temperature sensors in various industrial end uses. The growing automotive and petrochemical sectors in the U.S. and Canada are likely to be a key driver for the temperature sensors market in the region over the forecast period. The increasing demand for temperature sensors in oil fracking and refining operations is likely to be a key driver for the market in the region over the forecast period. Europe holds the second largest share in the global temperature sensors market and is likely to retain the position over the forecast period due to the steady growth of the energy and power sector and petrochemical industry, among other end use avenues. Asia Pacific is likely to exhibit the fastest growth in the global temperature sensors market over the forecast period due to the rapid growth of the industrial sector in countries such as China and India. The growing petrochemical industry in China is likely to be a key driver for the temperature sensors market in Asia Pacific over the forecast period. TABLE OF CONTENTS LIST OF FIGURES Figure 1 Research Methodology Figure 2 Temperature Sensors Market: By Product Type Figure 3 Temperature Sensors Market: By Alloy Used Figure 4 Temperature Sensors Market: By Applications Figure 5 Temperature Sensors Market: By Region Figure 6 North America Temperature Sensors Market, By Product Type Figure 7 North America Temperature Sensors Market, By Alloy Used Figure 8 North America Temperature Sensors Market, By Applications Figure 9 North America Temperature Sensors Market, By Region Figure 10 Europe Temperature Sensors Market, By Product Type Figure 11 Europe Temperature Sensors Market, By Alloy Used Figure 12 Europe Temperature Sensors Market, By Applications Figure 13 Europe Temperature Sensors Market, By Region Figure 14 Asia-Pacific Temperature Sensors Market, By Product Type Figure 15 Asia-Pacific Temperature Sensors Market, By Alloy Used Continued… About Us: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. Media Contact: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028 Maharashtra, India +1 646 845 9312 Like it? Share it! More by this author |