USD 4.76 billion
Global Temperature Sensor Market Size, Share, Growth Analysis, By Type(Thermistor, Resistance Temperature Detector (RTD)), By Application(Automotive, Electronics) - Industry Forecast 2024-2031
Report ID:
SQSG55C2002 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
69 |
Figures:
75
Global Temperature Sensor Market Insights
Temperature Sensor Market size was valued at USD 4.76 billion in 2019 and is poised to grow from USD 5 billion in 2023 to USD 12 billion by 2031, growing at a CAGR of 5% in the forecast period (2024-2031).
A temperature sensor is an electronic device that sends out an electrical signal to measure the temperature. Temperature is a word used to describe how hot something is or how much heat it has. These sensors can be used in different systems to measure how much heat is being given off and send an alert to the user. Temperature sensors are used in many different fields, including electronics, automotive, and manufacturing. Different kinds of these sensors are used for different things. For example, an integrated circuit temperature sensor is used in electronics to find out where heat is coming from and start a cooling device. The market should get a boost from the use of temperature sensors in manufacturing and automotive applications, as well as from new technological advances in the petrochemical industry in the coming years. These are some of the factors driving the demand for temperature sensors and will propel the market growth during the analysis period.
US Temperature Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Oil & Gas
Fastest Growth
Oil & Gas
Growth Rate
5% CAGR
Global Temperature Sensor Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Temperature Sensor Market Size by Type, 2022-2028 ($ Bn)
Global Temperature Sensor Market Size by Type, 2022-2028 (%)
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Global Temperature Sensor Market Segmental Analysis
The Global Temperature Sensor Market is segmented based on type, application, and region. Based on type, the market is segmented into thermistors, resistance temperature detectors (RTD), thermocouples, temperature sensor IC, and non-contact sensors. Based on application, the Temperature Sensor Market is segmented into automotive, electronics, manufacturing, aerospace & defense, oil & gas, healthcare, and marine. Based on region, the global Temperature Sensor market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Temperature Sensor Market Analysis by Type
The temperature sensor market is segmented into thermocouple, thermistor, resistance temperature detector (RTD), semiconductor temperature sensor, infrared temperature sensor, and others based on their types. The thermocouple segment has the largest share of the market because these sensors can be used in so many different ways because they come in so many different models and have so many different technical specs. In the process industry, it is mostly used to make chemicals and petrochemicals, treat metals, make electricity, treat waste, and test diesel engines. It is used to check the temperature in chemical and oil plants.
Temperature Sensor Market Analysis by Application
The temperature sensor market is divided into healthcare, consumer electronics, automotive, aerospace and defense, food and beverages, energy and power, oil and gas, chemicals, and others based on their applications. The oil and gas segment accounted for the largest market share in the year 2021, as these sensors are used in many processes, such as extraction, production, refining, and distribution, to prevent moisture, overheating, and corrosion, and to figure out how much fuel is being used in this sector. The automotive industry is buying more and more temperature sensors because it's getting more important to accurately measure the temperature of a car's oil, coolant, and air level to make sure it runs at its best. Also, these sensors can measure high temperatures, like the temperatures of exhaust gas. So, the demand for the temperature sensor market is likely to grow throughout the analysis period.
Global Temperature Sensor Market By Type, 2021 (%), 2023 (%)
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Global Temperature Sensor Market Regional Insights
In 2021, North America accounted for the largest market share of the global market for temperature sensors, and this is what is expected to happen over the next few years. Since North America is ahead of the curve when it comes to developing HVAC systems, wearable devices, and small systems with sensors that work on their own, it is expected to stay ahead during the forecast period. Also, more people are learning about the benefits of these sensors in industries like automotive, oil & gas, and healthcare, which helps the market grow all over the region. With moderate growth over the long term, Europe is expected to stay in second place in the temperature sensor market.
The Asia-Pacific region is expected to show steady growth during the forecast period. The fast growth of the auto industry in places like Japan, China, and India is a big reason why the Asia-Pacific market is growing. Also, the fast growth of the consumer electronics, healthcare, and food & beverage industries gives the market in the region a lot of good ways to grow during the analysis period.
Global Temperature Sensor Market By Geography, 2022 - 2028, 2024-2031
- Largest
- Fastest
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Global Temperature Sensor Market Dynamics
Temperature Sensor Market Driver
The increasing implementation of temperature sensors in the automotive industry is driving the automotive temperature sensor market.
- The increasing implementation of temperature sensors in the automotive industry to maintain vehicle safety, improve engine performance, and reduce emissions is driving the automotive temperature sensor market. Key businesses are implementing a variety of organic and inorganic strategies to create innovative goods and solutions, particularly for the automobile industry.
- Temperature sensors monitor the flow of hot exhaust gases and prevent temperature-sensitive components, such as turbochargers, from overheating. In addition, the government has enacted safety and pollution control regulations for vehicle safety. These factors have prompted automakers to install these sensors in their vehicles, consequently raising the demand for the automotive temperature sensor market industry during the forecast period.
Temperature Sensor Market Restraint
Tablets and mobile phones have restrained the demand for temperature sensors.
- These sensors monitor and adjust the CPU temperature of computers. Laptops and desktop computers use three to five temperature sensor ICs. In recent years, sales of personal computers have decreased due to the rise of tablets and smartphones. These portable devices can require sensors. Tablets and mobile phones have reduced the demand for these sensors. The declining PC market inhibits the demand for temperature sensors could restrain the market growth during the forecast period.
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Global Temperature Sensor Market Competitive Landscape
The temperature sensor market is relatively fragmented, with a high level of competition. Few large players, like Panasonic Corporation, Robert Bosch GmbH, and Texas Instruments Inc, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Temperature Sensor Market Top Player’s Company Profiles
- Siemens AG
- Honeywell International Inc.
- Emerson Electric Co.
- TE Connectivity Ltd.
- ABB Ltd.
- STMicroelectronics NV
- Texas Instruments Inc.
- Analog Devices Inc.
- Infineon Technologies AG
- NXP Semiconductors NV
- Omron Corporation
- Panasonic Corporation
- Sensirion AG
- Robert Bosch GmbH
- Amphenol Corporation
- Omega Engineering Inc.
- Microchip Technology Inc.
- Onset Computer Corporation
- Vishay Intertechnology Inc.
- TDK Corporation
Temperature Sensor Market Recent Developments
- In June 2022, Texas Instruments announced a new family of wireless microcontrollers (MCU) that enable Bluetooth® Low Energy (LE) for half the price of competitive devices. The SimpleLinkTM Bluetooth LE CC2340 family features best-in-class standby current and radio-frequency (RF) performance.
- In May 2022, Texas Instruments started building its new plants to make 300 mm semiconductor wafers in Sherman, Texas. This also reaffirmed the company's long-term commitment to expanding its manufacturing capacity.
Global Temperature Sensor Key Market Trends
- The temperature sensor market has witnessed an increased demand from the food and beverage industry due to the perishability of food, the food, and beverage industry must maintain proper temperatures. Temperature regulation and monitoring guarantee the safety of food during preparation, storage, and transport. These sensors are used to regulate food temperature in warehouses and retail facilities within the food and beverage industry. Companies provide sensors to evaluate the High Temperature, Short Test used during pasteurization (HTST). The food, beverage, and catering industries can acquire temperature sensors from Peak Sensors Ltd. It sells data loggers equipped with these sensors to monitor refrigerated cargo or cabinets.
- Sensors are regarded as a vital component of the home and building automation network since they provide information about the surrounding environment to intelligent devices. Thermal sensors are one of the key sensors used in home and building automation. These sensors are linked with HVAC, fire detection alarm systems, lighting control systems, and smart thermostats to automatically regulate and adjust the temperature. In addition, because these sensors help indicate the ambient temperature, preventative measures can be taken to ensure the integrity of the entire system. These are some of the major trends driving the temperature sensor market growth during the analysis period.
Global Temperature Sensor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global temperature sensor market is Segmented into type, application, and region. Based on type, the market is divided into thermistors, resistance temperature detectors (RTD), thermocouples, temperature sensor IC, and non-contact sensors. The thermocouple segment has the largest share of the market because these sensors can be used in so many different ways. North America, Europe, Asia-Pacific, South America, and MEA are some of the regions that currently dominate the market. In 2021, North America accounted for the largest market share of the global market for temperature sensors. The Asia-Pacific region is expected to show steady growth during the forecast period. With moderate growth over the long term, Europe will stay in second place in the temperature sensor market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.76 billion |
| Market size value in 2031 | USD 12 billion |
| Growth Rate | 5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Temperature Sensor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Temperature Sensor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Temperature Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Temperature Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Temperature Sensor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Temperature Sensor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Temperature Sensor Market Report Snapshots
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