The temperature sensors market size is estimated to expand at a significant CAGR during the forecast period, 2021–2028. Growth of the market is attributed to the increasing use of HVAC modules in the automotive sector and the growing demand for temperature sensors across a variety of industrial end users.
A temperature sensor, often known as a thermocouple or RTD, is a piece of apparatus that measures temperature or heat using an electrical signal. A thermocouple senses temperature and is made up of two dissimilar metals that create an electrical voltage that is directly proportional to temperature change. The characteristics of temperature sensors such as durability, precision, and low power consumption are likely to boost the market during the forecast period. In addition, the government has issued rules governing the use of temperature sensors in applications in order to prevent overheating, which is estimated to drive the market. Furthermore, new technical advances in the petrochemical industry, as well as the use of temperature sensors in manufacturing industries and automotive applications, are expected to drive the market in the projected years.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing focus on security and surveillance is expected to propel the market during the forecast period.
- Increasing implementation of temperature sensors in the pharmaceutical industry is major factor fueling the market.
- High cost of temperature sensors is expected to hamper the market growth.
- Lack of skilled labor act as major challenge that can restrict the market expansion in the coming years.
Scope of the Report
The report on the temperature sensors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
||Temperature Sensors Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
||Technology (Infrared, Thermocouple, Resistance Temperature Detectors, Thermistor, Temperature Transmitters, Integrated Circuit, and Fiber Optics), End-user Industry (Chemical and Petrochemical, Oil and Gas, Metal and Mining, Power Generation, Food and Beverage, Automotive, Medical, Consumer Electronics, Aerospace and Military)
||Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
||Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|Key Players Covered in the Report
||Emerson Electric Co., Texas Instruments Inc, Honeywell International Inc., ABB Ltd., and Siemens AG.
Market Segment Insights
The infrared segment is expected to grow at a rapid pace
On the basis of technology, the temperature sensors market is divided into Infrared, thermocouple, resistance temperature detectors, thermistor, temperature transmitters, integrated circuit, and fiber optics. The infrared segment is expected to represent a key share of the market during the forecast period. IR temperature sensors can capture readings from moving objects in less than 10 milliseconds. This advantage has led to IR temperature sensors being used in a variety of industries, including industrial, defense, food processing, and automotive. IR temperature sensors have been used in a number of military applications, including optical target sighting and changeable emissivity measures, which are frequently useful in tracking operations. However, infrared temperature sensors, like all other sensors on the market, have seen a surge in demand from the industrial sector in recent years, owing to global adoption of industry 4.0 regulations. There has been a need to check temperatures on a regular basis since the emergence of the fatal disease. An infrared body temperature monitoring system for large-area detection and monitoring is useful in raising awareness and limiting the development of an outbreak. A system like this would have an effective alarm using a temperature range feature, the ability to track and raise alarms at multiple points, miss no targets, distinguish between human/animal/organic targets and other high-temperature objects, and monitor and analyze video/photographic images in real-time.
The chemical segment is anticipated to register at a rapid CAGR
On the basis of end-user industry, the temperature sensors market is fragmented into chemical and petrochemical, oil and gas, metal and mining, power generation, food and beverage, automotive, medical, consumer electronics, aerospace and military. The chemical segment is expected to represent a key share of the market during the forecast period. In the chemical end-user industry, temperature sensors are important. Temperature sensors are used to monitor and regulate temperature in processes including refining, heat tracing, cracking, and incineration, as well as systems like sanitary systems and pipe systems.
North America is expected to dominate the market
On the basis of geography, the temperature sensors market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at a high CAGR during the forecast period. Due to several manufacturers in the area spending considerably in the development and improvement of temperature sensors, North America held the major market share. Thermocouple temperature sensors, offered by Emerson Electric Co. in the region, are resilient and durable in severe industrial settings. Other firms, such as Vernier Software and Technology, sell thermocouple temperature sensors that can monitor temperatures from –200 to 1400 degrees Celsius. It can also detect flame temperatures up to 1400°C and liquid nitrogen temperatures down to -196°C.
Segments Covered in the Report
The temperature sensors market has been segmented on the basis of
- Resistance Temperature Detectors
- Temperature Transmitters
- Integrated Circuit
- Fiber Optics
- Oil and Gas
- Metal and Mining
- Power Generation
- Food and Beverage
- Consumer Electronics
- Aerospace and Military
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Emerson Electric Co.
- Texas Instruments Inc
- Honeywell International Inc.
- ABB Ltd.
- Siemens AG
- Key players competing in the temperature sensors market include Emerson Electric Co., Texas Instruments Inc, Honeywell International Inc., ABB Ltd., and Siemens AG.
- Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.