Temperature Sensor Market by Type (Thermistor, Resistance Temperature Detector (RTD), Thermocouple, Temperature Sensor IC, Thermopile, and Others); and Industry Vertical (Food and Beverage, Aerospace and Defense, Chemicals, Oil & Gas, Semiconductor and Electronics, Automotive, Healthcare, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026527 | Pages: 100 | Industry: Electronics and Semiconductor | Date: Sep 2022 | Type: Global

The temperature sensor market is expected to cross US$ 6.3 billion mark in 2022 and is projected to hit US$ 9.6 billion by 2030, recording a CAGR of 4.9% during the forecast period.

The growing demand for temperature sensors in manufacturing industries & automotive is fueling the growth of temperature sensor market.

The growing penetration of temperature sensors in portable and advanced healthcare equipment is one of the major factors for the growth of temperature sensor market. The rising demand for temperature sensors from automotive sector fuels the market growth. Also, increasing adoption of home and building automation systems leads to the temperature sensor market growth.

In type segment, thermocouple segment is projected to grow with the largest market share due to its wide range of applications from home appliances to industrial processes, to electric power generation, and many more. Further, other segments such as thermistor, resistance temperature detector (RTD), temperature sensor IC, thermopile, and others are also expected to gain traction during the forecasted year.

The report segments the temperature sensor market into type, industry vertical, and geography. Based on type, the temperature sensor market is further segmented into thermistor, resistance temperature detector (RTD), thermocouple, temperature sensor IC, thermopile, and others. On the basis of industry vertical, the temperature sensor market is bifurcated into food and beverage, aerospace and defense, chemicals, oil & gas, semiconductor and electronics, automotive, healthcare, and others. Geographically, the temperature sensor market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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The growing trend of wearable devices is further accelerating market growth.

Temperature sensor is an electronic device which measures the temperature of its environment and also converts the input data into electronic data to monitor temperature changes. These sensors can be utilized in numerous systems to measure the heat released and alert the end-user.

Increasing requirement for temperature sensors in food safety management is driving the market growth.

The end-user industries of temperature sensor market are food and beverage, aerospace and defense, chemicals, oil & gas, semiconductor and electronics, automotive, healthcare, and others. Among them, the demand for temperature sensors in oil & gas industry accounts for the largest market share as it is used to measure, and analyze temperature of various equipment and the environment. Other industries such as water & wastewater treatment, cement, telecommunications, and agriculture encourage the use of temperature sensors.

Recent strategic developments in temperature sensor market

The temperature sensor market has undergone several significant developments, and a few of these have been mentioned below:

  • In December 2020, CTS Corporation announced that they had acquired Sensor Scientific, Inc. The acquisition will help the company to expand its temperature-sensing product portfolio.
  • In February 2020, TE Connectivity introduced the TSYS03, a new digital temperature sensor. The new TSYS03 has an ultra-compact design, precise multi-channel digital output, and low power consumption.

The temperature sensor market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ABB Ltd.; Analog Devices, Inc.; Denso Corporation; Emerson Electric Co.; Honeywell International Inc.; Infineon Technologies AG; Integrated Device Technology Inc.; NXP Semiconductors; STMicroelectronics; and TE Connectivity are among the prominent players operating in the temperature sensor market.

Target audience for the report:

  • Raw material providers of sensors
  • Temperature sensors providers
  • Sensors-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Temperature sensors distributors and sales firms
  • End users of temperature sensors
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the temperature sensor market has been segmented on the basis of:

  • Type:
    • Thermistor
    • Resistance Temperature Detector (RTD)
    • Thermocouple
    • Temperature Sensor IC
    • Thermopile
    • Others
  • Industry Vertical:
    • Food and Beverage
    • Aerospace and Defense
    • Chemicals
    • Oil & Gas
    • Semiconductor and Electronics
    • Automotive
    • Healthcare
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • ABB Ltd.
    • Analog Devices, Inc.
    • Denso Corporation
    • Emerson Electric Co.
    • Honeywell International Inc.

 

Companies profiled
- ABB Ltd.
- Analog Devices, Inc.
- Denso Corporation
- Emerson Electric Co.
- Honeywell International Inc.

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