Temperature Sensors Market Share

Global Temperature Sensors Market Overview

Temperature Sensors Market Size was valued at USD 5 Billion in 2022. The Temperature Sensors market industry is projected to grow from USD 7 Billion in 2023 to USD 12 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2030). The increased usage of temperature sensors in the different sectors such as defense and aerospace, petrochemicals, automation and instrumentation, automotive, and metal manufacturing sectors are the key market drivers enhancing market growth.

Temperature Sensors Market Trends

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  Growing usage of temperature sensors to boost market growth

  
  

The temperature sensor market is surging at optimum heights due to its wide range of applications in several sectors. The increased utilization of these sensors in the pharmaceutical industry expands the temperature sensor market size. With the products including resistance temperature detectors, a wider range of temperature adjustments, improved accuracy, and increased ruggedness can be accessed. Such benefits escalate the demand for RTDs as compared to thermocouple temperature sensors demand in the temperature sensors industry.

The fusion of communication is also helping in the progression of the temperature sensors market growth. In recent years, developments in computing and sensing temperature sensor market trends have fuelled the potential of the global temperature sensors industry. Furthermore, a large number of applications and increased implementation of temperature sensors enables the growth of the temperature sensors market in the upcoming years.

The usage of temperature sensors is rising in the healthcare sector as it helps in maintaining a particular temperature for equipment holding medical drugs, cleaning other equipment, and heating liquids. All these elevate the temperature sensor market demand in the healthcare industry. The sensors are available in the temperature sensors industry to measure temperature with complete efficiency and accuracy, which boosts the potential of the temperature sensors market. Therefore, such factors related to Temperature Sensors have enhanced the Temperature Sensors market CAGR across the globe in recent years.

Temperature Sensors Market Segment Insights

Temperature Sensors Type Insights

The Temperature Sensors Market segmentation, based on type, includes Thermocouples, Infrared Temperature Sensors, Bimetallic Temperature Sensors, Temperature sensors ICs, and Thermistors. The Temperature sensors IC segment held the majority share in 2022. The dominance of this segment can be attributed to the increasing adoption of temperature sensor ICs in various applications, including industrial, automotive, and consumer electronics. The increasing demand for miniaturized and low-cost temperature sensing solutions is driving the growth of this segment. Infrared Temperature Sensors are expected to show steady growth due to their high accuracy, non-contact operation, and increasing demand for temperature sensing solutions in various industrial and consumer applications. Thermocouples and Bimetallic Temperature Sensors are also expected to show steady growth due to their durability, reliability, and wide range of temperature measurement capabilities.

Temperature Sensors Application Insights

Based on application, the Temperature Sensors Market segmentation includes Energy & Power, Chemicals And petrochemicals, Oil & Gas, Metals, and Food & Beverages. The Oil & Gas segment dominated the market in 2022 and is projected to be the faster-growing segment due to the increasing demand for temperature sensing solutions in various applications, including upstream and downstream oil and gas operations, refining and petrochemical production, and pipeline monitoring. These all factors for Temperature Sensors positively impact the market growth.

Figure 2: Temperature Sensors Market, by Application, 2022 & 2030 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Temperature Sensors Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is expected to show positive growth in the forecast years in the temperature sensor market. This can be attributed to the increasing demand for temperature-sensing solutions in various rapidly developing countries, particularly in China and India. The growing demand for temperature sensing solutions in various industries, including oil and gas, energy and power, and consumer electronics, is driving the growth of the market in the Asia-Pacific region. Additionally, the increasing investment in research and development activities and the presence of key players are also contributing to the growth of the market in this region. The rapidly growing economies and the increasing standard of living in the Asia-Pacific region are expected to further drive the growth of the temperature sensor market in the coming years. The supportive regulatory policies and the favorable business environment in the Asia-Pacific region are also expected to boost the growth of the market in this region.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil

Figure 3: TEMPERATURE SENSORS MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s Temperature Sensors market accounts for the second-largest market share. Europe is home to many temperature sensor manufacturing companies, which have been instrumental in boosting the growth of the regional market share in the global temperature sensor market. These companies have been focusing on the development and manufacturing of advanced temperature sensors that cater to the needs of various industries, including oil and gas, energy and power, and food and beverages. The strong presence of these companies and the high investment in research and development activities have helped Europe to maintain its dominance in the global temperature sensor market. Additionally, the supportive regulatory policies and the favorable business environment in Europe have also contributed to the growth of the regional market. The presence of many leading companies in Europe has also helped to increase the competitiveness of the market and drive innovation in the temperature sensor industry. Further, the Germany Temperature Sensors market held the largest market share, and the UK Temperature Sensors market was the fastest-growing market in the European region.

North America is dominating the market due to the presence of well-established industrial sectors, including oil and gas, energy and power, and consumer electronics, and the increasing demand for temperature sensing solutions in various applications. The presence of key players and the high investment in research and development activities are also driving the growth of the market in North America. Moreover, the U.S. Temperature Sensors market held the largest market share, and the Canada Temperature Sensors market was the fastest-growing market in the North American region.

Temperature Sensors Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Temperature Sensors market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Temperature Sensors industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Temperature Sensors. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Temperature Sensors industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Temperature Sensors industry to benefit customers and expand the market sector. Major Temperature Sensors market players, including STMicroelectronics N.V., Siemens A G, Ultra Electronics Holdings Plc., Maxim Integrated Products Inc., TE Connectivity, Texas Instruments Inc., UTC Aerospace Systems, ABB Limited, Analog Devices Inc., Emerson Electric Corporation, Honeywell International Inc., and others, are attempting to increase market demand by funding R&D initiatives.

STMicroelectronics N.V. is a multinational electronics and semiconductor manufacturer based in Geneva, Switzerland. STMicroelectronics is one of the largest semiconductor companies in the world, offering a wide range of products and services for various applications, including automotive, consumer, industrial, medical, aerospace, and defense. The company specializes in the development and manufacturing of a wide range of products, including microcontrollers, memory devices, power management ICs, analog ICs, and sensors. The company has a strong presence in the temperature sensor market and offers a range of temperature sensors, including analog and digital temperature sensors, thermocouples, and thermopiles.

Siemens AG is a multinational conglomerate corporation based in Munich, Germany. Siemens operates in various sectors, including energy, healthcare, industry, infrastructure, and cities. Siemens provides a wide range of products and services for various industries, including automation and control systems, electrification, power generation and distribution, medical imaging and diagnostics, and transportation. The company also offers a range of temperature sensing solutions, including temperature sensors and temperature transmitters, for various applications in the oil and gas, chemical, food and beverage, and energy and power industries.

Key Companies in the Temperature Sensors market includes

• STMicroelectronics N.V.


• Siemens A G


• Ultra Electronics Holdings Plc.


• Maxim Integrated Products Inc.


• TE Connectivity


• Texas Instruments Inc.


• UTC Aerospace Systems


• ABB Limited


• Analog Devices Inc.


• Emerson Electric Corporation


• Honeywell International Inc among others

Temperature Sensors Industry Developments

May 2021 Honeywell announced the launch of the Honeywell ThermoRebellion temperature monitoring solutions.

Temperature Sensors Market Segmentation

Temperature Sensors Type Outlook

• Thermocouples


• Infrared Temperature Sensors


• Bimetallic Temperature Sensors


• Temperature Sensor ICs


• Thermistors

Temperature Sensors Application Outlook

• Energy & Power


• Chemicals And Petrochemical


• Oil & Gas


• Metals


• Food & Beverages

Temperature Sensors Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

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