Temperature Sensor Market Size, Share
Temperature Sensor Market
The Temperature Sensor Market is estimated to expand at a remarkable CAGR during the forecast period (2020-2027).
The factors driving the growth of Temperature Sensor Market includes increasing application of temperature sensors in the end-use industries such as Automotive, Aerospace & Defense and Petrochemical, growing demand for wearable devices and rise in the number of data centers across the globe. According to the report published by Bloomberg, the Global Wearable Market is predicted to reach USD 460.25 billion by the end of 2029, growing at a CAGR of 18.80% over the forecast period (2022-2029), which is expected to boost the Temperature Sensor Market size in the approaching years. Moreover, the technological advancements in the temperature sensors, proliferation of smart TVs and laptops, increasing adoption of wireless temperature sensors, rise in energy consumption, rapid urbanization and growing disposable incomes, are some of the additional factors supplementing the market growth.
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However, the growth of Temperature Sensor Market is hindered due to high competition for manufacturing temperature sensors.
The prominent players operating in the Temperature Sensor Market are Maxim Integrated, Emerson Electric Co., Amphenol Corporation, Honeywell International Inc., TE Connectivity, Texas Instruments Incorporated, Wika Instruments India Pvt. Ltd., Dwyer Instruments Inc., Endress+Hauser and Siemens AG among others.
Product Type: Segment Analysis
Based on Product Type, the Contact Temperature Sensor segment is estimated to capture the largest market share over the forecast period owing to its increasing application in Automotive and Oil and Gas industries.
End-User Industry: Segment Analysis
Based on End-Use Industry, the Chemical segment is anticipated to expand at a significant CAGR during the forecast period. The increasing application of temperature sensors in chemical industry for monitoring activities such as heat tracing and refining, is one the major factors propelling the segment’s growth.
Regional: Segment Analysis
Based on region, the Asia-pacific region is projected to capture the largest market share during the forecast period. The economic growth in Asia-Pacific region in the last two decades, rising production of automobiles, growing demand for healthcare electronic devices, increasing disposable incomes and rapid urbanization, are some of the important factors augmenting the market growth in Asia-Pacific region.
Market Segmentation
Global Temperature Sensor Market by Type
- Absolute Humidity Sensors
- Relative Humidity Sensors
Global Temperature Sensor Market by Product Type
- Contact Temperature Sensors
- Bimetallic Temperature Sensors
- Thermocouples
- Resistive Temperature Detectors
- Thermistors
- Temperature Sensor ICS
- Non-Contact Temperature Sensors
- Infrared Temperature Sensors
- Fiber Optic Temperature Sensors
Global Temperature Sensor Market by Output
- Analog
- Digital
- Single-Channel Digital Temperature Sensors
- Multichannel Digital Temperature Sensors
Global Temperature Sensor Market by End-User Industry
- Chemicals
- Oil & Gas
- Consumer Electronics
- Energy & Power
- Healthcare
- Automotive
- Metals & Mining
- Food & Beverages
- Pulp & Paper
- Advanced Fuel
- Aerospace & Defense
- Glass
- Others
Global Temperature Sensor Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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