USD 4.76 billion
Temperature Sensor Market Size, Share, Growth Analysis, By Product Type(Contact temperature sensors (Bimetallic Temperature Sensors, Thermocouples, Resistive Temperature Detectors, Thermistors), By Output(Digital, Analog), By Connectivity(Wired, Wireless), By End user industry(Chemical, Oil & Gas, Consumer Electronics, Energy & Power), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG55C2012 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
69
|Figures:
75
Temperature Sensor Market Insights
Global Temperature Sensor Market size was valued at USD 6.63 Billion in 2022 and is poised to grow from USD 7.01 Billion in 2023 to USD 10.84 Billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).
The temperature sensors market is poised to experience significant growth in the coming years, driven by increasing demand in application areas, rising government initiatives for environmental conservation, and strong aftermarket sales. Technological advancements in consumer electronics and the use of microtechnology and nanotechnology for accurate and contactless measurements are expected to further fuel temperature sensor market growth. The raw materials used in sensor manufacturing play a crucial role in efficiency and durability, with new materials such as lithium-niobate and langasite expanding the measurement ranges of temperature sensors. However, silicon-based sensors remain the primary choice for their availability and low cost. Silicon multisensors, capable of measuring various physical parameters such as pressure and temperature, are also gaining popularity and are expected to drive overall market growth. One key factor driving the growth of the market is the increasing demand in various application areas. These sensors are widely used in industries such as automotive, healthcare, aerospace, and food and beverage, among others.
As demand for these industries continues to grow, the temperature sensors market is expected to expand alongside them. Moreover, rising government initiatives for environmental conservation are also driving market demand, as governments worldwide seek to reduce emissions and improve energy efficiency. Another factor contributing to temperature sensors market growth is the strong aftermarket sales of temperature sensors. With a high degree of accuracy and durability, temperature sensors are often replaced after several years, leading to a steady demand for replacements. Furthermore, the use of microtechnology and nanotechnology in sensor manufacturing is expected to provide positive avenues to market growth, as these technologies enable accurate and contactless measurements. International Electrotechnical Commission (IEC) and the American National Standards Institute (ANSI) have developed standards for temperature sensors to ensure their accuracy and reliability. These standards help to ensure that temperature sensors meet certain requirements, such as measurement range and accuracy, to ensure their safe and effective use.
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 (%)
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Temperature Sensor Market Segmental Analysis
Global Temperature Sensor Market is segmented by material, product type, output, connectivity, end user industry and region. Based on materials, the market can be segmented into Polymers, Ceramics, Platinum Resistance Temperature Detectors (RTDs), Nickel Chromium/Nickel Aluminum Thermocouples (Code K), Nickel Chromium/Constantan Thermocouples (Code E), Iron/Constantan Thermocouples (Code J), Nickel Molybdenum-Nickel Cobalt Thermocouples (Type M), Nicrosil/Nisil Thermocouples (Code N), Copper/Constantan Thermocouples (Code T), and Other Temperature Sensor Materials (Code U). Based on product type, the market is segmented into Contact, and Non-Contact. Based on output, the market is segmented into Analog, and Digital. Based on connectivity, the market is segmented into Wireless, and Wired. Based on end user industry, the market is segmented into Chemicals, Oil & Gas, Consumer Electronics, Energy & Power, Healthcare, Automotive, Metals & Mining, Food & Beverages, Pulp & Paper, Aerospace & Defense, Glass, and Other End-User Industries. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Temperature Sensors Market Analysis by Type
By type, the market can be segmented into thermocouples and thermistors. The thermocouples is the dominating segment in the temperature sensors industry. Thermocouples are widely used in various industries such as chemical, oil and gas, and power generation to monitor temperature in different processes. They are also used in the automotive industry for engine management and exhaust gas monitoring. The advantages of thermocouples include high accuracy, wide temperature range, and fast response time. The increasing demand for thermocouples in various industries is expected to drive the growth of the dominating segment.
The fastest growing segment in the temperature sensors market based on type is thermistors. Thermistors are temperature sensors that use the property of a material to change its resistance with temperature. They are widely used in the healthcare industry for monitoring body temperature and in the automotive industry for climate control. The advantages of thermistors include high sensitivity, low cost, and small size. The increasing demand for thermistors in the healthcare and automotive industries is expected to drive the growth of the fastest growing segment.
Temperature Sensors Market Analysis by End User Industry
By application, the market can be segmented into automotive, and healthcare. Automotive industry dominated the temperature sensors market. Temperature sensors are widely used in the automotive industry for engine management, exhaust gas monitoring, and climate control. The increasing demand for fuel-efficient vehicles and the rising trend of electric and hybrid vehicles are expected to drive the growth of the temperature sensors market in the automotive industry.
The healthcare industry is the fastest growing segment in the temperature sensors market. Temperature sensors are used in the healthcare industry for monitoring body temperature and for monitoring the temperature of medical equipment. The increasing prevalence of chronic diseases, the growing aging population, and the need for accurate and reliable temperature monitoring devices in hospitals and clinics are expected to drive the growth of the temperature sensors market in the healthcare industry.
Temperature Sensors Market Analysis by Output
The temperature sensor market caters to diverse applications through two main output types: For a closer look at the two main types of electronic signals, it is necessary to distinguish between digital and analog signals. Digital temperature sensors convert the temperature values to a digital form and are thus very accurate and resistant to electromagnetic interference. This makes the PID controllers very suitable in sensitive applications such as industrial uses and other uses such as in medical equipment and consumer electronics where accuracy in temperature regulation is important. This well understood the fact that they may be slightly expensive compared to other options available in the market. But on the other hand, the analog temperature sensors measures the temperature and then output an electrical signal usually in form of current or voltage. Although these sensors are comparatively cheaper and easy to interface, they are noisier and less accurate than the digital sensors. However, analog temperature sensors are still commonly used for such applications which do not require sophisticated features and high accuracy, and for which the cost is a primary consideration; in automobile cooling systems, building temperature regulation and control systems, and simple temperature indication or warning systems.
Temperature Sensors Market Analysis by Connectivity
The global temperature sensor market is divided into two main categories based on connectivity: There are two types namely wired and wireless. Wired temperature sensors are devices where the data is transferred through wired cables; this makes sure that there is continuity in the flow of data.
Wired temperature sensors:
Have high data transmission speed and reliability because they are physical connection methods.
Suitable for use where temporary and real time temperature measurement is required such as in industrial process control and critical structure monitoring.
Deployment is usually a task that may not be easy when deploying many sensors and this mostly applies especially when sensors have to be installed over large regions.
Can impose some rigidity to where sensors can be installed since the flow sensors need a firm connection point for installation.
Wireless temperature sensors:
Send information through such a technique as Blue-tooth, Wifi or by using radio frequency.
It is good for applications where it is nearly impossible or uneconomical to incorporate wires within systems while exhibiting higher installation flexibility and easier deployment.
May have a restricted signal transmission distance and possibility of Signal Interference by other interfaces, the type of Wireless technology used.
Power source: Battery is an option where life span of battery can also be a problem whereby the battery has to be replaced or recharged depending on the type of sensor applied and its usage.
Global Temperature Sensor Market By Type, 2021 (%)
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Temperature Sensor Market Regional Insights
North America dominated the global market due to the high adoption rate of temperature sensors in various industries such as healthcare, aerospace, automotive, and food and beverage. Due to the presence of key competitors in the area and the rising demand for temperature sensors in a variety of applications, the United States was the main contributor to the growth of the North American temperature sensors market. Additionally, stringent government regulations on workplace safety and environmental conservation also fueled the demand for temperature sensors in North America.
Asia Pacific is the fastest-growing region in the temperature sensors market due to the increasing demand for temperature sensors in emerging economies such as China and India. The growth in the APAC region can be attributed to the rising industrialization and urbanization, leading to an increase in demand for temperature sensors in industries such as automotive, healthcare, and food and beverage. The market for temperature sensors in APAC has expanded as a result of the presence of well-known manufacturers in the area and rising investments in R&D projects.
Global Temperature Sensor Market By Geography, 2022 - 2028
- Largest
- Fastest
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Temperature Sensor Market Dynamics
Temperature Sensor Market Driver
Increasing demand for temperature sensors in various industries
- One major driver of the temperature sensors market is the increasing demand for temperature sensors in various industries, such as healthcare, automotive, aerospace, and food and beverage. The need for accurate and reliable temperature sensors in these industries is driven by the desire to ensure safe working conditions, improve energy efficiency, and comply with government regulations. Additionally, the adoption of advanced technologies, such as microtechnology and nanotechnology, and the development of new raw materials for sensor manufacturing are also contributing to the growth of the temperature sensors market.
Restraints
High cost associated with the installation and maintenance
- One major restraint of the temperature sensors market is the high cost associated with the installation and maintenance of temperature sensors, particularly in small and medium-sized enterprises. The high cost of temperature sensors may discourage small businesses from adopting these sensors, which could limit market growth. Additionally, the lack of standardization in temperature sensors and the presence of counterfeit products in the market may also hinder market growth. Furthermore, the limited accuracy of temperature sensors in extreme conditions, such as high pressure or high temperature environments, may also limit their usage in certain applications.
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Temperature Sensor Market Competitive Landscape
The temperature sensors market share is highly fragmented and competitive, with numerous small and large players operating in the market. The market is characterized by intense competition, rapid technological advancements, and changing consumer preferences. To remain competitive in the market, companies are adopting strategies such as mergers and acquisitions, partnerships, collaborations, and product innovation. Additionally, companies are also investing in research and development activities to develop advanced temperature sensors with improved accuracy and reliability. The increasing demand for temperature sensors in various industries is expected to attract new players, intensifying competition in the market.
Temperature Sensor Market Top Player’s Company Profiles
- NXP Semiconductors (Netherlands)
- Te Connectivity (Switzerland)
- Texas Instruments Incorporated (US)
- Endress+Hauser Group Services Ag (Switzerland)
- Siemens (Germany)
- Emerson Electric Co. (US)
- Analog Devices, Inc. (US)
- Amphenol Corporation (US)
- Wika Alexander Wiegand Se & Co. Kg (Germany)
- Microchip Technology Inc. (US)
- STMicroelectronics (Switzerland)
- Honeywell International Inc. (US)
- Omega Engineering, Inc. (US)
- Yokogawa Electric Corporation (Japan)
- Murata Manufacturing Co., Ltd. (Japan)
- Ifm Electronic Gmbh (Germany)
- Dwyer Instruments, Llc. (US)
- Vishay Intertechnology, Inc. (US)
- Panasonic Corporation (Japan)
- Denso Corporation (Japan)
Temperature Sensor Market Recent Developments
- In may 2024, Temperature sensors are finding applications in new and emerging sectors beyond traditional industries like manufacturing and HVAC. This includes applications in smart agriculture for monitoring soil temperature, wearable health trackers for body temperature monitoring, and even in smart buildings for optimizing energy consumption based on real-time temperature data.
- In February 2024, The integration of wireless communication technologies like Bluetooth and LoRaWAN into temperature sensors gained momentum. This allows for remote monitoring capabilities and facilitates the creation of Internet of Things (IoT) networks for real-time temperature data collection and analysis.
- In January 2024, Manufacturers introduced new temperature sensors with improved features like higher accuracy, faster response times, and miniaturized designs. These advancements cater to the growing need for precise temperature monitoring in space-constrained applications.
Temperature Sensor Key Market Trends
- One key market trend in the temperature sensors market is the increasing adoption of wireless temperature sensors. These sensors use wireless communication technologies such as Bluetooth, Wi-Fi, and Zigbee to transmit data, eliminating the need for physical connections between sensors and monitoring devices. Wireless temperature sensors are particularly popular in industrial applications, where they are used to monitor temperature and humidity levels in hard-to-reach areas. Another key trend in the market is the increasing demand for temperature sensors with self-diagnostic capabilities. These sensors are equipped with advanced algorithms that can detect errors and malfunctions, improving their reliability and reducing maintenance costs.
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 robust Secondary Desk research.
According to our temperature sensors market analysis, the market growth is driven by increasing demand in various industries and technological advancements. The use of microtechnology and nanotechnology, as well as new raw materials, is expected to provide positive avenues to market growth. However, the high cost associated with installation and maintenance, lack of standardization, and limited accuracy in extreme conditions are some of the major challenges that the market faces.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.63 Billion |
| Market size value in 2031 | USD 10.84 Billion |
| Growth Rate | 5.6% |
| Base year | 2023 |
| 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:-
|
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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 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 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 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 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 Temperature Sensor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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.
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