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* Temperature Sensor Market
"Smart Strategies, Giving Speed to your Growth Trajectory"
TEMPERATURE SENSOR MARKET SIZE, SHARE & INDUSTRY ANALYSIS, BY TYPE
(THERMOCOUPLE, THERMISTOR, RESISTANCE TEMPERATURE DETECTOR (RTD), SEMICONDUCTOR
TEMPERATURE SENSOR, INFRARED TEMPERATURE SENSOR, AND OTHERS), BY END-USER
(HEALTHCARE, CONSUMER ELECTRONICS, AUTOMOTIVE, AEROSPACE AND DEFENSE, FOOD AND
BEVERAGES, ENERGY AND POWER, OIL AND GAS, CHEMICALS, AND OTHERS), AND REGIONAL
FORECAST, 2019-2026
Region : Global | Format: PDF | Report ID: FBI102434
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Summary Table of Content Industry Methodology Infographics
* Summary
* Table of Content
* Market Segmentation
* Methodology
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KEY MARKET INSIGHTS
Listen to Audio Version
The global temperature sensor market size stood at USD 5.02 billion in 2018 and
is projected to reach USD 7.88 billion by 2026, exhibiting a CAGR of 6.1% during
the forecast period.
WE ARE IN PROCESS OF REVAMPING TEMPERATURE SENSOR MARKET WITH RESPECT TO
COVID-19 IMPACT.
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Temperature sensor market growth is driven by the increasing adoption in process
industries such as oil and gas, and chemicals to prevent moisture, overheating,
corrosion, and inefficient fuel usage. Similarly, the growing preferences for
smart home and building and the increasing use of these sensors in consumer
electronics will support the market growth. Additionally, the growing research
and development investments by key players for the development of enhanced
products will boost the growth of the temperature sensor market. For instance,
in November 2018, ABB launched NiTemp, a highly accurate non-invasive
temperature sensor, to measure temperature without shutting down any system.
This new product development opens new and unprecedented opportunities for ABB
to measure temperature in the process plant.
MARKET TRENDS
Need for Temperature Control in Food Safety Management is Contributing to the
Growth of the Market
Maintaining temperature is very crucial in the food and beverage industry, owing
to the perishable nature of food. The automated temperature control and
monitoring help in ensuring food safety during food processing, storage, and
food transit. In the food and beverage industry, these sensors are used at
various stages from the warehouse to retail stores to regulate temperature
depending upon the food. Additionally, companies are providing these sensors
specifically designed to measure the stringent High Temperature, Short Test
(HTST) requirements for pasteurization. For instance, Peak Sensors Ltd offers
these sensors and related equipment to the food, beverage and catering
industries to accurately measure the temperature. It supplies dataloggers that
consist of these sensors, for monitoring refrigerated transport or chilled
cabinets.
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The Increasing Use in Home and Building Automation Surge the Temperature Sensor
Market Growth
Sensors are considered as an integral component in the home and building
automation network as it assists in informing smart devices about the
surrounding environment. One of the primary sensors used in the home and
building automation is thermal sensors. These sensors are integrated into HVAC,
fire detection alarm systems, lighting control systems and smart thermostats to
control and manage temperature automatically. Moreover, as these sensors assist
in indicating the temperature of the environment, preventative action can be
taken to ensure that the entire device is not compromised.
North America Temperature Sensor Market Size, 2015-2026 (USD billion)
MARKET DRIVERS
Rising Penetration in Portable Healthcare Equipment to Augment the Growth of the
Market
The growing ageing population and surge in diseases will spur demand for
advanced portable healthcare devices. The portable healthcare devices are
precise in temperature measurement and monitoring which are adopting thermal
sensors. Medical devices with inbuilt sensors are used to monitor body
temperature during RF hyperthermia treatments as well as to measure patient
surface temperature during MRI, fMRI or other specialized electro-surgical
procedures. The increasing use of these sensors in the patient monitoring
system, digital temperature measurement system and life-supporting machines is
fueling the demand for such sensors in the healthcare sector. Also, rapid
technological advancements in the healthcare sector and the demand for
miniaturization of equipment will boost the temperature sensor market revenue.
Increasing Adoption in Automotive Sector to Drive the Growth of the Market
The growing adoption in automotive to maintain vehicle safety, enhance engine
performance, and reduce emissions is fueling the growth of the temperature
sensor market. Key players' are adopting various organic and inorganic
strategies to develop advanced products and solutions, especially for the
automotive industry. For instance, in august 2018, MS Motorservice International
GmbH introduced an aftermarket exhaust gas temperature sensor particularly
designed for temperature resistance in the range of - 40° to + 1,000°C for high
accuracy. These sensors help in monitoring the hot exhaust gas flow and protect
temperature-sensitive components, such as turbochargers, from overheating.
Furthermore, the government has implemented safety and emission control
standards for the safety of vehicles. These have pushed automotive companies to
deploy these sensors in their vehicles, thereby increasing the demand in
automotive sector.
MARKET RESTRAINT
Saturation in Personal Computers Sales Owing to the Increasing Popularity of
Tablets and Smartphone to Restrict the Market Growth
In personal computers, these sensors are used for controlling and monitoring the
temperature of the CPU. Usually, 3 to 5 temperature sensor ICs are used in
laptops and desktops. However, since the past few years, the sale of personal
computers is decreasing owing to the growing demand for portable devices such as
tablets and smartphones. These portable devices may or may not require these
sensors. Thus, the growing adoption of tablets and smartphones has negatively
impacted the shipment of these sensors. Hence, the declining PC market is
hampering the growth of the temperature sensor market.
SEGMENTATION
BY TYPE ANALYSIS
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Thermocouple Segment to Gain Momentum during the Forecast Period
Based on the type, the temperature sensor market is classified into
thermocouple, thermistor, resistance temperature detector (RTD), semiconductor
temperature sensor, infrared temperature sensor, and others. The thermocouple
segment accounts for the maximum share of the market as these sensors are used
in a huge range of applications due to their wide range of models and technical
specifications. In the process industry, it is majorly used for chemical and
petrochemical processing, metal treating, power generation, waste treatment, and
diesel engine testing. It helps in testing temperature in the chemical and
petroleum plants.
BY END-USER ANALYSIS
Oil and Gas Sector to Account for Maximum Share
On the basis of the end-user, the market is classified into healthcare, consumer
electronics, automotive, aerospace and defense, food and beverages, energy and
power, oil and gas, chemicals, and others. In the oil & gas and petrochemicals
industry, these sensors are used in multiple processes such as extraction,
production, refining, and distribution to prevent moisture, overheating,
corrosion, and to determine fuel usage. The demand for these sensors is
increasing rapidly in the automotive sector, owing to the growing necessity to
accurately measure the temperature of a vehicle's oil, coolant, and air level to
ensure optimum performance. Moreover, these sensors are capable of measuring
high temperatures such as exhaust gas temperatures. Thus, the demand for these
sensors is expected to increase during the forecast period.
REGIONAL ANALYSIS
The findings based on our research methodology indicate North America held the
largest share in the global temperature sensor market during the forecast
period. North America, being technologically advanced in terms of developing
HVAC systems, wearable devices, and compact systems with standalone sensors, is
predicted to remain dominant during the forecast period. Furthermore, the rising
awareness about the advantages of these sensors in various sectors, including
automotive, oil & gas, and healthcare, supports market growth across the region.
Europe is expected to hold the second position in the market by witnessing
moderate growth in the long-term period.
North America Temperature Sensor Market Size, 2018(USD Billion)
NORTH AMERICA
USD 1.79 Billion
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Our market research study also includes findings suggesting the Asia Pacific
witness healthy growth during the forecast period. The growth of the Asia
Pacific market attributes to the rapidly developing automotive industry in
countries, such as Japan, China, and India. For instance, according to the India
Brand Equity Foundation (IBEF), the Indian automotive sector became the fourth
largest in the world, with sales increasing 9.5% year-on-year to 4.02 billion
units in 2017. Additionally, rapid advancements in the consumer electronics,
healthcare, and food & beverage industry creates lucrative growth opportunities
for the market in the region.
KEY INDUSTRY PLAYERS
TDK Corporation Focused on Product Development to Strengthen its Market
Position
* TDK corporation offers NTC thermistor elements and sensor systems designed
for automotive, home and industrial applications to measure and regulate
temperature with long-term stability even at high-temperature
* In October 2018, TDK Corporation introduced K525, a new EPCOS NTC sensor,
specially designed for automotive and industrial electronics to measure
extended temperature range between -10 °C up to +300 °C. This sensor is made
up of ceramic and is suitable for applications and extreme operational
conditions
LIST OF KEY COMPANIES PROFILED:
* ABB
* HONEYWELL INTERNATIONA
* Emerson Electric Co.
* L INC.
* DENSO CORPORATION
* STMicroelectronics
* Infineon Technologies AG
* Robert Bosch GmbH
* NXP Semiconductors
* OMRON Corporation
* TE Connectivity
* Analog Devices, Inc.
* Texas Instruments Incorporated
* Maxim Integrated
* Amphenol Advanced Sensors
* Renesas Electronics Corporation
* Kongsberg Maritime
* Microchip Technology Inc.
* Semiconductor Components Industries, LLC
* Siemens
* TDX Corporation
* Endress+Hauser Management AG
* Okazaki Manufacturing Company
* Yamari Industries, Limited
KEY INDUSTRY DEVELOPMENTS:
* November 2019 - Azbil Corporation, one of the leading companies in building
and industrial automation, has started selling ceiling-mounted sensors, an
indoor sensor, outside Japan, majorly for use in office building HVAC
systems.
* August 2018 - OMRON Corporation, one of the global leaders in industrial
automation, expanded its D6T series of super-sensitive non-contact MEMS
thermal sensors with the addition of narrow-field version sensors to provide
accurate non-contact measurements of objects’ temperature for industrial
control and building automation systems.
KEY PLAYERS TO MAINTAIN THEIR STRONG POSITION IN THE MARKET
Key companies are investing in research and development for launching advanced
sensors with specialized features for various industrial applications. Further,
the majority of well-established companies working in the temperature sensor
market are focused on acquiring new startups to strengthen their market
position.
At present, the top players are involved in increasing their sales capacity as
well as expanding their geographical boundaries. These players are also involved
in introducing an updated series of these sensors with enhanced operational
efficiency and low cost to gain a competitive edge.
REPORT COVERAGE
An Infographic Representation of Temperature Sensor Market
View Full Infographic
To get information on various segments, share your queries with us
The Temperature Sensor Market report offers qualitative and quantitative
insights and the detailed analysis of market size & growth rate for all possible
segments in the market.
Along with this, the report provides an elaborative analysis of market dynamics,
emerging trends, and competitive landscape. Key insights offered in the report
are the adoption of temperature sensors by individual segments, recent industry
developments such as partnerships, mergers & acquisitions, consolidated SWOT
analysis of key players, Porter’s five forces analysis, business strategies of
leading market players, macro and micro-economic indicators, and key industry
trends.
REPORT SCOPE& SEGMENTATION
ATTRIBUTE
DETAILS
Study Period
2015-2026
Base Year
2018
Forecast Period
2019-2026
Historical Period
2015-2017
Unit
Value (USD billion)
Segmentation
By Type
* Thermocouple
* Thermistor
* Resistance Temperature Detector (RTD)
* Semiconductor Temperature Sensor
* Infrared Temperature Sensor
* Others
By End-User
* Healthcare
* Consumer Electronics
* Automotive
* Aerospace and Defense
* Food and Beverages
* Energy and Power
* Oil and Gas
* Chemicals
* Others
By Region
* North America (US and Canada)
* Europe (UK, Germany, France, Italy, and Rest of Europe)
* Asia Pacific (China, Japan, India, South Korea, South East Asia and Rest of
Asia Pacific)
* The Middle East & Africa (GCC, South Africa and Rest of the Middle East &
Africa)
* Latin America (Mexico, Brazil and Rest of Latin America)
FREQUENTLY ASKED QUESTIONS
How much is the temperature sensor market worth?
As per our study, the global market is predicted to reach USD 7.88 billion by
2026 with a CAGR of 6.1% (2019 -2026)
What was the value of the global temperature sensor market in 2018?
In 2018, the market value stood at USD 5.02 billion.
At what CAGR is the temperature sensor market projected to grow in the forecast
period (2019-2026)?
Growing at a CAGR of 6.1%, the market will exhibit steady growth in the forecast
period (2019-2026).
Which region held the highest market share in 2018?
North America dominated the market share in 2018.
Which industries use temperature sensors?
Industries that rely heavily on automation and robotics mechanism, prefer to
deploy these sensors in their business applications. Some of these industries
include healthcare, consumer electronics, automotive, aerospace and defense,
food and beverages, energy and power, oil and gas, and chemicals.
Which industry is expected to lead the market?
The oil and gas industry is expected to lead the market, owing to increasing use
in multiple processes such as extraction, production, refining, and distribution
to prevent moisture, overheating and corrosion.
Which is the leading segment by type?
In the market, the thermocouple is the leading segment owing to the increasing
adoption of the thermocouple in industries for monitoring temperatures of metals
in iron, aluminum, and metal.
What is the key factor driving the market?
Some of the driving factors for this market are rising penetration in portable
healthcare equipment and increasing the adoption in the automotive sector.
Which factor is hampering the market growth?
The saturation in personal computers sales owing to the increasing popularity of
tablets and smartphone is hampering the market growth
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The global temperature sensor market size was USD 5.02 billion in 2018 and is
projected to reach USD 7.88 billion by 2026, exhibiting a CAGR of 6.1% during
the forecast period.
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