Temperature Sensors Market Analysis, Key Trends, Size and Research Study 2023

Posted by Akash Sangshetti on October 1st, 2019

Market Research Future published a research report on “Global Temperature Sensors Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

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.

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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 temperature sensors market has been segmented by product types, alloys used, applications, end -users and region. By product type, the market is divided into thermocouples, bimetallic temperature sensors, infrared temperature sensors, thermistors, fiber optic temperature sensors, non-contact sensors, temperature sensor ICs, resistive temperature detectors, and others. By alloy type, the market is segmented into Type K, Type M, Type E, Type J, Type C, Type N, Type T, and others. Temperature sensors market is segmented by applications, into power industry, energy & power, chemicals and petrochemical, oil & gas, automotive, advanced fuels, metals, food & beverages, and others. By regions, it is segmented into North America, Europe, APAC, and rest of the world.

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:

On geographic basis, Temperature sensors market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with largest market share growth in the Temperature sensors market. Europe is to be estimated to be second largest market for Temperature sensors during the forecast period, this is due to the rise in research activities in the chemicals and the healthcare sectors is likely to boost this regional market during the forecast period. The Asia Pacific temperature sensors market accounted for over 30% of the global demand and is expected to grow at a considerable rate over the next six years. The regional market is expected to be driven by advancements in sensor technology and demand for high-performance sensors that can be fitted into handheld portable devices. China is expected to be the largest CAGR to regional market revenue generation over the forecast period.

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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

Figure 16 Asia-Pacific Temperature Sensors Market, By Applications

Figure 17 Asia-Pacific Temperature Sensors Market, By Region

Continued…

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