Market Overview
The global temperature sensors market is expected to exhibit a robust 4.8% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global temperature sensors market is mainly driven by the growing demand for temperature sensors from a number of industries, such as petrochemicals, oil and gas, aerospace and defense, and others. The report projects that the global temperature sensors market will reach a valuation of USD 5.93 billion by 2023. The forecast is based on a solid analysis of historical figures demonstrating the growth trajectory exhibited by the market in recent years. The leading drivers and restraints affecting the global Temperature Sensors Market are profiled in the market, as well as the major players operating in the market.
Temperature sensors are used in a variety of applications due to the simple need for temperature-dependent processes in a large number of industries. A large variety of industrial processes, including but not limited to metalworking, oil and gas refining, and chemical production, require a specific temperature range, beyond which the process may lose its efficacy. This has created a solid customer base for the global temperature sensors market.
The increasing development of innovative advancements in the design of temperature sensors is likely to be a major driver for the global temperature sensors market over the forecast period. The growing competitiveness in the temperature sensors market has resulted in a number of players attempting to win an edge through product development efforts. The use of digital displays and other convenience-enabling features is likely to be a key feature of the global temperature sensors market over the forecast period.
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Segmental Analysis
The global temperature sensors market is segmented on the basis of product type, alloy type, application, and region.
The global temperature sensors market is segmented on the basis of product type into thermocouples, infrared, bimetallic, temperature sensor ICs, thermistors, non-contact sensors, resistive temperature detectors, fiber optic temperature sensors, and others.
- By alloy type, the global temperature sensors market is segmented into type K, M, E, J, C, N, T, and others.
- By application, the market is segmented into power, chemicals, petrochemicals, oil and gas, automotive, advanced fuels, metals, food and beverage, and others.
Key Players:
The prominent players in the Temperature sensors Market are – Siemens A G (Germany), Stmicroelectronics N.V. (Switzerland), TE Connectivity (Switzerland), Ultra Electronics Holdings Plc. (U.K), UTC Aerospace Systems (U.S), Analog Devices Inc. (Us), Texas Instruments Inc. (Us), Maxim Integrated Products Inc. (Us), Honeywell International Inc. (U.S), ABB Limited (Switzerland), Emerson Electric Corporation (Us) among others.
Market Research Analysis:
On geographic basis, Temperature sensors market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with largest market share growth in the Temperature sensors market. Europe is to be estimated to be second largest market for Temperature sensors during the forecast period, this is due to the rise in research activities in the chemicals and the healthcare sectors is likely to boost this regional market during the forecast period. The Asia Pacific temperature sensors market accounted for over 30% of the global demand and is expected to grow at a considerable rate over the next six years. The regional market is expected to be driven by advancements in sensor technology and demand for high-performance sensors that can be fitted into handheld portable devices. China is expected to be the largest CAGR to regional market revenue generation over the forecast period.
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TABLE OF CONTENTS
LIST OF FIGURES
Figure 1 Research Methodology
Figure 2 Temperature Sensors Market: By Product Type
Figure 3 Temperature Sensors Market: By Alloy Used
Figure 4 Temperature Sensors Market: By Applications
Figure 5 Temperature Sensors Market: By Region
Figure 6 North America Temperature Sensors Market, By Product Type
Figure 7 North America Temperature Sensors Market, By Alloy Used
Figure 8 North America Temperature Sensors Market, By Applications
Figure 9 North America Temperature Sensors Market, By Region
Figure 10 Europe Temperature Sensors Market, By Product Type
Figure 11 Europe Temperature Sensors Market, By Alloy Used
Figure 12 Europe Temperature Sensors Market, By Applications
Figure 13 Europe Temperature Sensors Market, By Region
Figure 14 Asia-Pacific Temperature Sensors Market, By Product Type
Figure 15 Asia-Pacific Temperature Sensors Market, By Alloy Used
Continued…
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Market OverviewAccording to Market Research Future, the global temperature sensors market is likely to witness high growth in the coming years.
However, temperature sensors have applications and sectors such as Food industries, Petrochemical, oil, and energy sectors, are using temperature to produce and monitor, to maintain quality and consistency.The Temperature sensor has a varied range of applications across numerous industries such as automotive, electronics, and manufacturing.
Each sensor comes in a different form, which has its distinct usage, for example, integrated circuit (IC) temperature sensor is applied in electronic applications to detect the heat released and start the cooling device.Get More Details of Report @ https://www.abnewswire.com/pressreleases/temperature-sensors-market-2020-global-size-future-trends-gross-margin-analysis-key-vendors-sales-revenue-design-competition-strategies-and-regional-forecast-2023_465867.htmlAccording to Market Research Future, the growing focus on workplace safety is growing the use of temperature sensors for work floor monitoring.
The key players are aiming at improving research and development facilities along with constant innovation to introduce sensors that are consistent with the changing requirements of end-use industries.
The Temperature Sensors Market is very centralized due to the presence of several minor regional suppliers and large multinational vendors.
The Temperature sensors Market is rising over 4.8% of CAGR and by the end of the forecast period is expected to reach USD $~5.93 Billion.Segmental AnalysisThe global temperature sensors market is segmented on the basis of product type, alloy type, application, and region.The global temperature sensors market is segmented on the basis of product type into thermocouples, infrared, bimetallic, temperature sensor ICs, thermistors, non-contact sensors, resistive temperature detectors, fiber optic temperature sensors, and others.By alloy type, the global temperature sensors market is segmented into type K, M, E, J, C, N, T, and others.By application, the market is segmented into power, chemicals, petrochemicals, oil and gas, automotive, advanced fuels, metals, food and beverage, and others.Key Players:The prominent players in the Temperature sensors Market are – Siemens A G (Germany), Stmicroelectronics N.V. (Switzerland), TE Connectivity (Switzerland), Ultra Electronics Holdings Plc.
