North America Thermocouple Temperature Sensors Market, By Type (Base Metal Thermocouple and Noble Metal Thermocouple), Construction Type (Grounded Thermocouple, Exposed Thermocouple and Ungrounded Thermocouple), Temperature Range ((-200C) To 900C, (-200C) To 1250C, 0 To 750C, (-250C) To 350C, 0 To 1500C, 0 To 1700C), Application (Automotive, Chemical & Petrochemical, Power Generation, Metals & Mining, Oil & Gas, Food & Beverage, Life Science, Aerospace, Waste & Water Treatment, Others), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2027
Market Analysis and Insights: North America Thermocouple Temperature Sensors Market
Thermocouple temperature sensors market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.2% in the forecast period of 2020 to 2027 and is expected to reach USD 700.32 million by 2027. The rising demand of thermocouple temperature sensors in advanced equipment is the major factor that drives the growth of the market.
The growing advancement in the industrial application has inadvertently increased the usage of temperature sensors which in turn has boosted the growth of the market. The penetration of thermocouple temperature sensors in healthcare equipment due to their wide range of applications such as monitoring and control equipment, anesthesia delivery machines, ventilators, humidified oxygen heater temperature, kidney dialysis machines, sleep apnea machines, medical incubators, neonatal intensive care units, digital thermometers, blood analysers and for organ transplant system temperature monitoring and control are boosting the growth of thermocouple temperature sensors market. The disadvantages of thermocouple temperature sensors and increasing alternative products in the market are acting as a retrain for the thermocouple temperature sensors market. The technological advancement in market is creating stiff competition between market players which acts as a major challenge for the thermocouple temperature sensors market.
This thermocouple temperature sensors market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Thermocouple Temperature Sensors Market Scope and Market Size
North America thermocouple temperature sensors market is segmented on the basis of type, application, construction type, and temperature range. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the market is segmented into base metal thermocouple and noble metal thermocouple. In 2020, the base metal thermocouple segment is accounted for the largest market share as it’s highly responsive in nature due to which it is widely use in the industrial applications.
- On the basis of construction type, the market is segmented into grounded thermocouple, exposed thermocouple and ungrounded thermocouple. In 2020, the grounded thermocouple segment is accounted for the largest market share as it is highly durable in nature and highly responsive in nature due to which it is widely used in the food and beverages and chemical sectors.
- On the basis of temperature range, the market is segmented into ((-200C) to 900C, (- 200C) to 1250C, 0 to 750C, (-250C) to 350C, 0 to 1500C, and 0 to 1700C. In 2020, (-200C) to 900C segment is accounted for the largest market share as these range of thermocouple temperature range are widely used in the industrial applications.
- On the basis of application, the market is segmented into automotive, chemical & petrochemical, power generation, metals & mining, oil & gas, food & beverage, life science, aerospace, waste & water treatment, and others. In 2020, automotive segment accounted for the largest market share as the growing demand for zero emission vehicles has increased the production of electric vehicle which has further increased the demand for the sensors in the automotive sectors.
Thermocouple Temperature Sensors Market Country Level Analysis
Thermocouple temperature sensors market is analysed and market size information is provided by country, type, application, construction type, and temperature range as referenced above.
The countries covered in North America thermocouple temperature sensors market report are the U.S., Canada and Mexico.
The U.S. country is accounted for the largest market share due to the rising digitalization in the countries which has increased utilization of nanotechnology, this in turn increases the demand for the thermocouple temperature sensors in the various industrial applications.
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 such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Government Regulation towards Mandating the Use of Temperature Sensors in Thermocouple Temperature Sensors Market
Thermocouple temperature sensors market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in thermocouple temperature sensors and changes in regulatory scenarios with their support for the thermocouple temperature sensors market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Thermocouple Temperature Sensors Market Share Analysis
North America thermocouple temperature sensors 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, presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to thermocouple temperature sensors market.
The major players covered in the North America thermocouple temperature sensors market report are Honeywell International Inc, Okazaki Manufacturing Company, OMEGA Engineering Inc., Applied Sensor Technologies, Durex Industries, Maxim Integrated, Danfoss A/S, Microchip Technology Inc., Thermometrics Corporation, Pyromation, Inc., SOR Inc., WIKA Alexander Wiegand SE & Co. KG, West Control Solutions, Thermo Sensors, KEYENCE CORPORATION, Emerson Electric Co., TE Connectivity and among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of thermocouple temperature sensors market.
- In October 2018, Microchip Technology Inc. embedded control solutions for industrial, automotive, consumer, aerospace and defense, communications and computing markets launched five new 1.8V temperature sensors. The new product family feature with voltage rails, such as battery operated IoT applications, personal computing devices, field-programmable gate arrays (FPGAs) and graphics processing units (GPUs). This product launch has helped the company to strengthen its sensors category.
- In May 2018, Durex Industries had introduced temperature sensors including cast aluminium and bronze extruder barrel heaters, sprue-bushing heaters, nozzle, manifold and mold heaters, temperatures sensors and temperature controllers. The product exhibition has helped the company to cater more number of customers.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for thermocouple temperature sensors through expanded range of size.