Dublin, April 17, 2020 (GLOBE NEWSWIRE) -- The "Temperature Sensor Market by Product Type (Thermocouples, RTDs, Thermistors, Temperature Sensor ICs, Bimetallic, Infrared, and Fiber Optic Temperature Sensors), Output, End-user Industry, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global temperature sensor market size is projected to grow from USD 6.3 billion in 2020 to USD 8.8 billion by 2027, recording a CAGR of 4.8%.
The increasing trend of wearable devices and the rising need for temperature control for food safety management provide major growth opportunities to market players. The temperature sensor industry growth is driven mainly by increasing penetration of temperature sensors in advanced and portable healthcare equipment, growing demand for temperature sensors in the automotive sector, and rising adoption of home and building automation systems. Fluctuating raw material prices is expected to restrain the market growth.
Chemicals end-user industry to hold the largest share in the temperature sensor market by 2027.
The chemicals end-user industry segment in the temperature sensor industry is projected to hold the largest share during the forecast period. Temperature sensors play an essential role in the chemicals end-user industry. Processes such as refining, heat tracing, cracking, and incineration, and systems such as sanitary systems and piping systems use temperature sensors for temperature monitoring and control.
Contact type temperature sensor to hold the larger share in the temperature sensor industry by 2027.
The contact type temperature segment is projected to hold the majority of the temperature sensor market share during the forecast period. Contact temperature sensors are used widely in industries such as chemicals, consumer electronics, oil & gas, energy & power, and automotive, because of their low cost, wide temperature ranges, and high accuracy. These benefits will drive market growth
Digital output to hold a larger share in the temperature sensor market by 2027.
The digital output segment is projected to hold a larger share in the temperature sensor industry during the forecast period. Temperature sensors with digital output have several advantages over sensors with analog output and are especially suited for remote applications. Digital temperature sensors find use in medical, aerospace, test and measurement equipment, and industrial automation.
Absolute humidity sensor to hold the larger share in the humidity sensor market by 2027.
The absolute humidity sensor segment is projected to hold a larger share in the humidity sensor market during the forecast period. Absolute humidity sensors, supported by two NTC thermistor elements, measure the absolute humidity by measuring the difference in thermal conductivity of dry air and the air containing water vapor. These humidity sensors are used for measuring humidity in HVACs, fax machines, printers, automotive, weather stations, refrigerators, and food processing units.
APAC to be the largest temperature sensor market by 2027.
Asia Pacific is projected to hold the largest share in the global temperature sensor market during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the temperature sensor industry in APAC.
Fast track industrialization across APAC has created a conducive environment for the growth of the temperature sensor market. Expanding automobile and industrial manufacturing, in particular, is generating massive demand for temperature sensors. Also, robust demand for consumer equipment, including portable healthcare electronics and white goods, is expected to foster the demand for temperature sensors.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Temperature Sensor Market
4.2 Temperature Sensor Market in Apac, by Country and End-User Industry
4.3 Temperature Sensor Market, by Product Type
4.4 Temperature Sensor Market, by Output
4.5 Temperature Sensor Market, by End-User Industry
4.6 Temperature Sensor Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Penetration of Temperature Sensors in Advanced and Portable Healthcare Equipment
5.2.1.2 Growing Demand for Temperature Sensors in Automotive Sector
5.2.1.3 Rising Adoption of Home and Building Automation Systems
5.2.2 Restraints
5.2.2.1 Fluctuating Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Increasing Trend of Wearable Devices
5.2.3.2 Rising Need for Temperature Control for Food Safety Management
5.2.4 Challenges
5.2.4.1 Stringent Performance Requirements for Advanced Applications
5.2.4.2 Continual Price Reductions and Intense Competition Among Manufacturers
5.3 Impact of Covid-19 on Temperature Sensor Market
5.4 Value Chain Analysis
6 Humidity Sensor Market, by Type
6.1 Introduction
6.2 Humidity Sensors
6.2.1 Absolute Humidity Sensors
6.2.1.1 Absolute Humidity Sensors Accounted for Larger Share of Overall Humidity Sensor Market in 2019
6.2.2 Relative Humidity Sensors
6.2.2.1 Market for Relative Humidity Sensors is Expected to Grow at Higher Growth Rate During Forecast Period
7 Temperature Sensor Market, by Product Type
7.1 Introduction
7.2 Contact Temperature Sensors
7.2.1 Bimetallic Temperature Sensors
7.2.1.1 Bimetallic Temperature Sensors Are Used Extensively to Control Water Heating Elements in Boilers, Furnaces, and Hot Water Storage Tanks
7.2.2 Thermocouples
7.2.2.1 Thermocouples Accounted for Largest Share of Contact Temperature Sensor Market
7.2.3 Resistive Temperature Detectors
7.2.3.1 Owing to Their Linearity, Stability, and Accuracy, Rtds Are Widely Preferred for Air Conditioning, Food Processing, and Textile Production
7.2.4 Thermistors
7.2.4.1 Low-Cost Ntc Sensors Are Used in Applications Wherein Temperature Ranges from 40 C to +300
7.2.5 Temperature Sensor Ics
7.2.5.1 Market for Temperature Sensor Ics is Expected to Grow at Highest CAGR During Forecast Period
7.3 Non-Contact Temperature Sensors
7.3.1 Infrared Temperature Sensors
7.3.1.1 Infrared Temperature Sensors Accounted for Larger Share of Non-Contact Temperature Sensor Market
7.3.2 Fiber Optic Temperature Sensors
7.3.2.1 Market for Fiber Optic Temperature Sensors is Expected to Grow at Higher Cagr
8 Temperature Sensor Market, by Output
8.1 Introduction
8.2 Analog
8.2.1 Market for Analog Temperature Sensors is Expected to Grow at Higher CAGR During Forecast Period
8.3 Digital
8.3.1 Single-Channel Digital Temperature Sensors
8.3.1.1 Single-Channel Digital Temperature Sensors Have Low Power Consumption and Are Compact
8.3.2 Multichannel Digital Temperature Sensors
8.3.2.1 Multichannel Digital Sensors Can Monitor Multichannels, Have Flexible Design, and Offer Higher Accuracy
9 Temperature Sensor Market, by End-User Industry
9.1 Introduction
9.2 Chemicals
9.2.1 Processes Such as Refining, Heat Tracing, and Incineration Require Temperature Sensors
9.3 Oil & Gas
9.3.1 Oil & Gas Exploration Involves Critical Measures Such as Preventing Moisture, Overheating, Corrosion, and Inefficient Fuel Usage
9.4 Consumer Electronics
9.4.1 Introduction of New Technologies is Expected to Surge Growth of Temperature Sensor Market for Electrical and Electronic Applications
9.5 Energy & Power
9.5.1 Increasing Need for Renewable Energy Generation to Have Positive Impact on Growth of Temperature Sensor Market
9.6 Healthcare
9.6.1 Thermistors Are Mostly Used for Disposable Medical Applications as These Sensors Provide Most Accurate and Sensitive Measurements
9.7 Automotive
9.7.1 With Rising Concerns of Automobile Manufacturers About Occupant Comfort, Temperature Sensors Are Also Finding Application in Automotive Hvac Systems
9.8 Metals & Mining
9.8.1 in Metals & Mining End-User Industry, Temperature Sensors Are Used for Various Applications, Such as Mineral Extraction, Refining, and Engine Monitoring
9.9 Food & Beverages
9.9.1 Temperature Monitoring and Control is Required for Quality Assurance During Production, Storage, and Transit of Food and Beverages
9.10 Pulp & Paper
9.10.1 Temperature Monitoring and Control Through Temperature Sensors is Involved in Pulping and Bleaching Processes
9.11 Advanced Fuel
9.11.1 Temperature Sensors Have Witnessed Increase in Demand from Automobiles Which Are Using Different Varieties of Fuel
9.12 Aerospace & Defense
9.12.1 Typical Uses of Temperature Sensors Include Measurement of Aircraft Skin Temperature, Environmental Temperature, and Surrounding Critical Electronic Components
9.13 Glass
9.13.1 Temperature Sensors Are Required for Measuring High Temperatures During Glass Manufacturing
9.14 Others
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US to Hold Largest Share of Temperature Sensor Market in North America
10.2.2 Canada
10.2.2.1 Thriving Chemicals & Petrochemicals and Advanced Fuel Industries Fueling Growth of Temperature Sensor Market in Canada
10.2.3 Mexico
10.2.3.1 Market in Mexico to Grow at Highest Rate in North America
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany Held Largest Share of Temperature Sensor Market in Europe in 2019
10.3.2 France
10.3.2.1 Robust Aviation Industry Supporting Growth of Temperature Sensor Market in France
10.3.3 UK
10.3.3.1 Consumer Electronics Industry Generating Substantial Demand for Temperature Sensors in UK
10.3.4 RoE
10.3.4.1 Market in Roe to Grow at Highest Rate in Europe
10.4 Apac
10.4.1 China
10.4.1.1 China Held Largest Share of Temperature Sensor Market in APAC in 2019
10.4.2 Japan
10.4.2.1 Evolving Market for Home Automation in Japan Will Boost Demand for Temperature Sensors in Coming Years
10.4.3 India
10.4.3.1 Temperature Sensor Market in India Expected to Witness Highest CAGR Among All Countries
10.4.4 South Korea
10.4.4.1 Growing Electronics and Automotive Industries Driving Demand for Temperature Sensor Market in South Korea
10.4.5 RoAPAC
10.5 RoW
10.5.1 MEA
10.5.1.1 MEA Held Larger Share of Temperature Sensor Market in Row
10.5.2 South America
10.5.2.1 Growing Energy & Power and Mining Industries Are Likely to Propel Temperature Sensor Market Growth in this Region
11 Competitive Landscape
11.1 Introduction
11.2 Ranking Analysis of Players in Temperature Sensor Market
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Innovators
11.3.3 Dynamic Differentiators
11.3.4 Emerging Companies
11.4 Strength of Product Portfolio (25 Companies)
11.5 Business Strategy Excellence (25 Companies)
11.6 Competitive Scenario
11.6.1 Expansions
11.6.2 Product Launches and Developments
11.6.3 Mergers & Acquisitions
11.6.4 Contracts, Partnerships, Agreements, and Collaborations
12 Company Profiles
12.1 Key Players
12.1.1 Honeywell
12.1.2 TE Connectivity
12.1.3 Texas Instruments
12.1.4 Endress+Hauser
12.1.5 Siemens
12.1.6 Maxim Integrated
12.1.7 Emerson
12.1.8 Amphenol
12.1.9 Wika Instrument
12.1.10 Dwyer Instruments
12.2 Right to Win
12.2.1 Honeywell
12.2.2 TE Connectivity
12.2.3 Texas Instruments
12.2.4 Endress+Hauser
12.2.5 Siemens
12.3 Other Companies
12.3.1 Microchip
12.3.2 Kongsberg Gruppen
12.3.3 Pyromation
12.3.4 Analog Devices
12.3.5 Hans Turck
12.3.6 IFM Electronic
12.3.7 Stmicroelectronics
12.3.8 NXP Semiconductors
12.3.9 Omega Engineering
12.3.10 Yokogawa Electric
12.3.11 Murata Manufacturing
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