Global Temperature Sensor Market – Industry Trends and Forecast to 2029

Global Temperature Sensor Market, By Product (Contact Type and Non-contact Type), Output (Analog and Digital), End-User (Chemicals, Oil and Gas, Consumer Electronics, Energy and Power, Healthcare, Automotive, Metals and Mining, Food and Beverages, Pulp and Paper, Advanced Fuel, Aerospace and Defense, Glass and Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

Temperature sensors are being highly adopted in numerous industries such as manufacturing, automotive and electronics, among others. These sensors are available in various forms having their own unique applications.

Global Thermocouple Temperature Sensors Market was valued at USD 5.17 billion in 2021 and is expected to reach USD 9.26 billion by 2029, registering a CAGR of 6.59% during the forecast period of 2022-2029. The automotive sector accounts for the largest segment in the end use industry owing to the rise in demand for zero emission vehicles. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

A temperature sensor, also known as instrumentation equipment, an RTD, or a thermocouple, is a device that uses an electrical signal to measure heat or temperature. A thermocouple is a device that senses temperature and is made up of two dissimilar metals that produce an electrical voltage that is directly proportional to temperature change.

Report Scope and Market Segmentation

Temperature Sensor Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Growing penetration of temperature sensors

The temperature sensor market is being driven by the growing need for innovative and portable healthcare equipment. The demand for temperature sensors is increasing as new technologies emerge, such as improved patient monitoring systems and portable health monitoring systems

• Rising for temperature sensors in automotive sector

The market for temperature sensors has expanded in tandem with the increased need for reliability, comfort, and other innovative features in automobiles.

• Growing use in home and building automation

Sensors are an important part of the home and building automation network since they aid in notifying smart devices about their surroundings. Thermal sensors are one of the most common sensors used in home and building automation which will further accelerate the market growth.

Opportunities

Furthermore, growing popularity of wearable devices will further expand the market. Also, supportive government initiatives and funding for IoT projects will further expand the market.

Restraints/Challenges

On the other hand, the fluctuations in the costs of the raw material is further anticipated to hinder the market growth. However, the stringent performance demands for advanced applications might further hamper the growth of the market in the forecast period.

This temperature sensor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on temperature sensor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Temperature Sensor Market

The COVID-19 has impacted temperature sensor market. The limited investment costs and lack of employees hampered sales and production of temperature sensor technology. However, government and market key players adopted new safety measures for developing the practices. The advancements in the technology escalated the sales rate of the temperature sensor as it targeted the right audience. The increase in sales of temperature sensor across the globe is expected to further drive the market growth in the post-pandemic scenario.

Recent Developments

• In May 2021, Honeywell stated that dnata US has launched the Honeywell ThermoRebellion temperature monitoring solution at Boston Logan International Airport to support domestic and international passengers. Dnata US, one of the world's leading aviation services companies, provides ground handling, cargo, transport, and flight catering services on five continents.

Global Temperature Sensor Market Scope and Market Size

The temperature sensor market is segmented on the basis of product, output, and end user.  The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Contact Type
• Non-contact Type

On the basis of product, the temperature sensor market is segmented into contact type and non-contact type.

Output

• Analog
• Digital

On the basis of end users vertical output, temperature sensor market has been segmented into analog and digital.

End User

• Chemicals
• Oil and Gas
• Consumer Electronics
• Energy and Power
• Healthcare
• Automotive
• Metals and Mining
• Food and Beverages
• Pulp and Paper
• Advanced Fuel
• Aerospace and Defense
• Glass
• Others

On the basis of end user, the temperature sensor market is segmented into chemicals, oil and gas, consumer electronics, energy and power, healthcare, automotive, metals and mining, food and beverages, pulp and paper, advanced fuel, aerospace, and defense, glass, and others.

Temperature Sensor Market Regional Analysis/Insights

The temperature sensor market is analysed and market size insights and trends are provided by country, product, output, and end user as referenced above.

The countries covered in the temperature sensor market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).

North America dominates the temperature sensor market because of the presence of major key players within the region. Furthermore, the rise in the adoption of smart home applications will further influence the growth of the market.

Asia-Pacific is expected to show significant amount of growth during the forecast period of 2022 to 2029 because of growing manufacturing sector. Moreover, the easy availability of raw materials is further anticipated to boost the growth of the market.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Temperature Sensor Market

The temperature sensor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to temperature sensor market.

Some of the major players operating in the temperature sensor market are

• Texas Instruments Incorporated (US)
• Panasonic Corporation (Japan)
• Siemens (Germany)
• Honeywell International Inc. (US)
• ABB (Switzerland)
• Analog Devices, Inc. (US)
• General Electric Company (US)
• Kongsberg (Norway)
• Emerson Electric Co. (US)
• STMicroelectronics (Switzerland)
• Microchip Technology Inc. (US)
• NXP Semiconductors (Netherland)
• Maxim Integrated (US)
• Mouser Electronics, Inc. (US)
• Robert Bosch GmbH (Germany)
• TE Connectivity (Switzerland)
• OMEGA Engineering Inc. (US)
• Semiconductor Components Industries, LLC (US)
• Endress+Hauser Hauser Group Services AG (Switzerland)
• Amphenol Corporation (US)