Global Temperature Sensor Market Report Description:
Global temperature sensor market report gives comprehensive outlook on temperature sensor across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The report on global temperature sensor market gives historical, current, and future market sizes (US$ Mn) on the basis of type, technology, end user industry and region. This report studies global temperature sensor market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global temperature sensor market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global temperature sensor market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global temperature sensor market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global temperature sensor products.
Global Temperature Sensor Market:
The global temperature sensor market valued US 8.1 Bn in 2019 and is poised to grow with a CAGR of 4.2% over 2020-2026. Some of the key factors fostering the market growth include growing demand in automotive sector, demand for contactless temperature sensors, rising acceptance of home and building automation systems, growing demand for wearable in consumer electronics and increasing inclination of security and inspection. Also, rising need for temperature control for food safety management provides huge opportunity for the market. However, intense competition among manufacturers and fluctuating raw material prices are inhibiting the market growth.
Oil & Gas Accounts for Larger Market Revenue Share in Global Temperature Sensor Market
Oil & Gas segment accounted for larger revenue share in global temperature sensor market with a significant CAGR and is expected to grow over the forecast years. Temperature sensors are used in numerous oil and gas applications in upstream, midstream, and downstream processes. These sensors are used to detect the temperature of oil wells and are installed in reactors, pumps, and steam drums. As the sensors need to be absorbed during oil exploration, the demand for non-contact infrared sensors that can operate under high temperature and can be exposed to corrosion is increasing. These factors are influencing the growth of this segment in the market.
North America Accounts for Larger Market Revenue Share in Global Temperature Sensor Market
North America accounted for considerable revenue share in global temperature sensor market and is expected to grow over the forecast years. The Americas will be the major revenue contributor to the market due to the growing construction of smart homes and the growth of the automotive industry. Furthermore, the extensive industrial growth and the growing demand for consumer electronics, will also contribute to the growth of the market in the Americas. Asia Pacific is projected to considerable growth during the forecast period. China, India and Japan are the major contributors to the growth of the industry in the region. Fast track industrialization across the APAC region has created conducive environment for the growth of the market.
Key player’s profiles in the global market include:
- Delphi Automotive LLP
- JIANGXI HAOFENG ELECTRIC APPLIANCES CO., LTD.
- Okazaki Manufacturing Company
- Sensata Technologies, Inc.
- Robert Bosch GmbH
- Delphi Automotive LLP
- NXP Semiconductors
- Continental AG
Global temperature sensor market is surging owing to strategic alliances by key players for temperature sensor to meet the demands of the customers in the market. For Instance,
- In November 2019, Azbil Corporation launched a sealing temperature sensor for HVAC building automation. The sensor has a faster response time and increased accuracy, making it a prominent choice for indoor applications.
- In Oct 2019 – RS Components (RS), the trading brand of Electrocomponents plcintroduced the RS PRO infrared temperature sensor, a low-cost non-contact voltage-output temperature sensor designed for factory maintenance, repair, and operations (MRO) in smart manufacturing environments.
Key Findings of the Report:
- Global temperature sensor market expanding at significant CAGR over 2020 to 2026 due to acceptance of home and building automation systems
- Based on region, North America accounted for considerable market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global temperature sensor market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Resistance Temperature Detectors (RTD)
- Temperature Transmitters
- Fiber Optic
By End-user Industry
- Chemical & Petrochemical
- Oil & Gas
- Metal & Mining
- Power Generation
- Food & Beverage
- Aerospace & Military
- Consumer Electronics
- Other End User Industries
- Rest of Europe
- Au & NZ
- Rest of Europe
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of MEA