Temperature Sensors Market Overview:
Temperature Sensor is nothing but a device typically a RTD or thermocouple provides for temperature measurement through an electrical signal. Temperature sensor plays a vital role in various applications such as food processing, HVAC environmental control, medical devices, chemical handling and automotive under the hood monitoring. The global Temperature Sensors market in 2017 is valued at $56.02 billion and is anticipated to $108.2 billion by 2023 growing at an estimated value of CAGR of more than 11.65% during the forecast period 2018 to 2023. Asia Pacific will dominate the Temperature Sensors Market in the upcoming years with a share of approximately 46.6%. It will generate revenue of $43.92 billion by 2023 at a CAGR of 12.40%.
Temperature Sensors Market Outlook:
Temperature Sensors Market is segmented by type, product type, alloys used, application and end user. On the basis of type, the Temperature Sensors Market is categorized in to contact sensors and Non-contact sensors. On the basis of product type, the Temperature Sensors market is categorized in to Thermistor, RTD, Thermocouple, ICs, Thermopiles, IR Sensors, Thermostat, Thermometer and others. On the basis of alloys used, the Temperature Sensors market is segmented in to Type K, Type M, Type E, Type J, Type C, Type N, Type T and others. On the basis of end user, the Temperature Sensors market is segmented in to Oil and Gas Industry, Petrochemicals, Metal Manufacturing, Automation and Instrumentation, Power Industry. The global Temperature Sensors market is set to experience a substantial growth owing to the strong demand from consumer electronics segment across the worldwide.The currently priced of non-contact sensor at $12.23 per unit and are holding the maximum share in the current market.
Temperature Sensors Market Growth drivers:
The major growth drivers that impact the Temperature Sensors market are new technological advancements in Petrochemical Industry. Growing huge demand of medical sensors due to rise in the number of diseases boosts the growth of the thermistor type of temperature sensor. The another foremost driver for temperature sensors in consumer electronics is the substantial growth of tablets and mobile phones due to Research and Development immense innovations.
Temperature Sensors Market Challenges:
The major challenge faced by the service providers of Temperature Sensors market is designing issues related to Thermo wells which hamper the growth of market.
Temperature Sensors Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Temperature Sensors Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
Temperature Sensors Market Report: Industry Coverage
Temperature Sensors Market– By Type: Contact Temperature Sensors and Non-contact Temperature Sensors.
Temperature Sensors Market - By Product Type: Thermistor, RTD, Thermocouple, ICs, Thermopiles, IR Sensors, Thermostat, Thermometer and others.
Temperature Sensors Market- By Alloys Used: Type K, Type M, Type E, Type J, Type C, Type N, Type T and others
Temperature Sensors Market- By Metals used: Platinum, Nickel, Copper, Tungsten, Silicon.
Temperature Sensors Market – By Industrial Vertical: Petrochemicals, Metal Manufacturing, Automation and Instrumentation, Power Industry, Electronics, Automotive and others.
The Temperature Sensors Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Temperature Sensors Market Key Players Perspective:
Some of the Key players in this market that have been studied for this report include Watlow Electrical Manufacturing Company, Honeywell International Inc., Yokogawa, Instrumentation Dynatherm Inc., Maxim Integrated Products Inc, Microchip Technology Ltd, Fluke Process Instruments and few others.
Market Research and Market Trends of Temperature Sensors Market:
- In February 2017, Fluke Process Instruments announced the expansion of the Endurance® Series line of high-temperature ratio infrared pyrometers to include three new single-color models and two-color model with extended temperature ranges and enhanced optical resolution characteristics. These pyrometers meet the demands of harsh industrial environments, including primary and secondary metals manufacturing, carbon processing, silicon production, and foundries and welding, as well as rubber and thick plastics.
- Omron Electronics launched D6T Series MEMS Thermal Sensors recently super-sensitive infrared temperature sensors. They make full use of Omron's proprietary MEMS sensing technology. D6T thermal sensor is built with sensing technology to detect the presence of humans by detecting body heat, and therefore D6T thermal sensors can be used in appliances like automatically switch off lighting, air conditioning, etc. D6T sensors rely on motion detection, when people are not around like pyroelectric sensors.
- In November 2017, Yokogawa won control systems order for First Flue Gas Desulfurization system in the West Balkans. This system was expected to be installed at the Ugljevik coal-fired power plant in northeastern Bosnia and Herzegovina and is the first of its type to be installed in the West Balkans, and is scheduled to start operation in October 2019.