Temperature Sensors Market

Temperature Sensors Market Size, Share, Growth (2023-2028)

Temperature Sensors Market is projected to increase from USD 7.3 billion in 2023 to USD 9.5 billion by 2028, expanding at a CAGR of 5.8% .

Temperature Sensors Market overview:

Temperature sensors are devices that collect data about temperature from a particular source and convert them into data and to understandable form for a device or an observer. A temperature sensor is usually an RTD (resistance temperature detector) or a thermocouple. Temperature sensors provide features like accuracy, durability, and low power consumption which are significant advantages for their applications, and the government circulating regulations regarding the usage of temperature sensors in various forms to ensure issues like overheating are supposed to fuel the global temperature sensors business.

Recent Developments

• TE Connectivity Ltd., a technology company with leading positions in connectivity and sensing solutions around the world, has completed its public takeover or the acquisition of First Sensor AG, holding the share of over 71.87% shares of First Sensor.

• Emerson, a leading sensors solution developer and manufacturer, has announced that it has completed the purchase of American Governor Company which a leader in technologies and services for hydroelectric turbine controls. This acquisition of the American Governor Company builds on Emerson's technology capabilities and expertise in the renewables and power industry.

Temperature Sensors Market Drivers and Restraints:

The primary driver that was accelerating the target market is the substantial usage of these sensors in the oil, gas, and marine applications. Also, these temperature sensors are used for numerous applications such as the purposes like extradition, refining, production, and distribution of oil, gas, and other petrochemicals. Moreover, heat tracing sensors are used to measure the temperature of the pipes, which are enclosed in the system, which is an essential task while manufacturing processes are happening. The developments in the technological aspects of these devices with the trend of miniaturization in the electronics sector are fueling market growth. 

Another industry that was driving the global temperature sensor market is the healthcare industry. The growth of the target market in this industry is due to the need for safety and security because of the growing urbanization, increasing population, and health issues. The growth of more innovative equipment along with sensor technology is rising due to accommodate the increasing medical conditions. These temperature sensors find their applications in various devices which include ventilators, medical incubators, and blood analyzers, among others. These sensors are mostly amalgamated in the sensor technology for detecting and controlling the temperature to give reliable, accurate diagnostic results in real-time. Therefore, attributing to their full applications in the medical sector, the growth of the temperature sensor market is getting be proliferated.

And, the manufacturing industries & automotive applications, new technological advancements in the petrochemical industry, massive demand of medical sensors owing to the rising number of diseases, and tremendous growth of tablets & mobile phones are factors that are further bolstering the target market during the forecast period.A significant factor that was challenging the temperature sensor market growth is the vital initial investments that are involved with some types of sensors like resistance temperature detectors. Also, the low sensitivity to external environments and limited temperature range can lead to device failure consequently. The increasing additional cost as thermistors do not work efficiently in high temperatures, and are fragile as they are semiconductor devices are the other factors that are hindering the global temperature sensors business.

Temperature Sensors Market Segmentation

By Type

• Contact Type

  • Thermocouples

  • Resistive Temperature Detectors

  • Thermistors

  • Temperature Sensor ICs

  • Bimetallic Temperature Sensors

• Non–Contact Type

  • Infrared Temperature Sensor

  • Fiber Optic Temperature Sensor

By Output

• Analog

• Digital

  • Single-channel Digital Temperature Sensor

  • Multichannel Digital Temperature Sensor

By End-user

• Chemicals

• Oil & Gas

• Consumer Electronics

• Energy & Power

• Healthcare

• Automotive

• Metals & Mining

• Food & Beverages

• Pulp & Paper

• Aerospace & Defense

Temperature Sensors Market Regional Analysis:

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

In the regional analysis of the global temperature sensors market, Asia Pacific has accounted for the significant share in the target market's revenue during the projection period. The growth of the target market in this region is attributed to the major contributions from countries like China, India, South Korea, and Japan. Due to the rapid industrialization across the Asia-Pacific region, a conducive environment for the growth of the temperature sensor market was created. And the growing expansion of automobile and industrial manufacturing, in particular, is generating massive demand for these sensors in this region. Moreover, the presence of the robust demand for consumer equipment like portable healthcare electronics and white goods is fostering the growth of the temperature sensors market in the Asia-Pacific region.

Temperature Sensors Market Key Players:

1. Honeywell (US)

2. TE Connectivity (Switzerland)

3. Texas Instruments (US)

4. Endress+Hauser (Switzerland)

5. Siemens (Germany)

6. Dwyer Instruments (US)

7. Maxim Integrated (US)

8. WIKA Instrument (Germany)

9. Amphenol (US),

10. Emerson (US)