The Global Thermistor Temperature Sensors Market Size is estimated at USD 1.01 billion in 2023 and is predicted to reach USD 1.59 billion by 2029, rising at a CAGR of 9.37% over the projection period 2024-2029.
Market Trends:
A trend toward automation has been identified as one of the top trends in end-user industries. The consumption of thermistor temperature sensors is escalating at a rapid rate in all verticals that are predicted to influence the call for thermistors. The call for thermistors is dominated by NTC thermistors with the manufacture of high-volume ceramic semiconductors. The introduction of innovative healthcare technologies in major economies and the call for thermistors in applications such as intelligent patient monitoring systems are driving the expansion of the worldwide thermistor temperature sensors market. On the other hand, fluctuations in commodity prices are predicted to limit the global thermistor temperature sensors market during the conjecture period. Nevertheless, the thermistor temperature sensors market is highly competitive due to the presence of several major players that supply their products to national and international companies.
Market Drivers:
As the complexity of the system increased, the number of types of temperature sensors increased and the performance requirements increased as well. With technological changes in the automotive industry, the worldwide call for connected and autonomous vehicles is seeing call increase, and with it, suppliers are highly developing industry-specific solutions. For example, in February 2020, Texas Instruments expanded its portfolio of temperature sensors to include linear thermistors with up to 50% more accuracy compared to NTC thermistors. Additionally, it is one of the smallest commercially available linear thermistors on the market. These aspects are considered the principal factor promoting the growth in the global thermistor temperature sensors market.
Market Restraints:
Several factors are limiting the expansion of the thermistor temperature sensors market such as slow response time and non-linear output.
Market Opportunities:
Rising technologies for healthcare businesses in significant economies and rising applications, like smart patient monitoring systems, are significant factors driving the expansion of the thermistor temperature sensors market throughout the foreseen period. NTC thermistor probes in the healthcare sector are generally employed as resistance thermometers. In addition, with the emergence of COVID-19, companies are unable to export their goods or import raw materials for production because most of the materials for the production of electronic components are made in China. Additionally, electronics company partners are reducing orders by 30-50% in various regions.
Market Recent Developments:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 – 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 - 2029 |
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CAGR |
9.37% |
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Segments Covered |
By Type, Application, End-User Industry, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Murata Manufacturing Co. Ltd., Mouser, QTI Sensing Solutions, TEWA Electronics Group, Thermo Sensors Corporation, Siemens Process Instrumentation, Backer Howatt Inc., Sentrion Corporation, US Sensor Corp., Semitec USA Corp., Sen Tech Co. Ltd., and Shenzhen DXM Technology Co., Ltd and Others. |
Market Segmentation:
NTC thermistors show a drop in their resistive value as the operating temperature around them increases. In contrast, PTC thermistors exhibit an increase in their resistive value as the operating temperature around them increases. NTC thermistors represent an important part of the thermistor temperature sensors market since they can be employed in most equipment where temperature plays an important role.
The temperature monitoring segment has a key share of the thermistor temperature sensors market, as it can be employed in many industries and performs especially well in lower temperature ranges. The temperature control segment plays an important role in preventing damage to machines and factories. The other segment constitutes a negligible part of the thermistor temperature sensors business. It includes the use of equipment in the form of self-regulating heating elements and overcurrent protectors with auto-reset.
The call for thermistor temperature sensors is high in the transportation and industrial segments. However, it is also widely employed in the military and space industries (including satellites, launchers, space tourism, and other equipment).
Market Regional Analysis:
The Thermistor Temperature Sensors Market Report includes the segmentation of Regions:
Asia-Pacific, Latin America, the Middle East, and Africa are predicted to account for a significant share as the thermistor temperature sensors market here is largely driven by the industrial sector. North America and Europe are mature markets and their expansion prospects are predicted to be limited in the coming years. The Asia Pacific region dominated the worldwide thermistor temperature sensors market in 2019 and is foreseen to grow at a CAGR of xx% over the outlook period.
The region is expected to offer the most promising opportunities for major players during the forecast period, driven by the rapid expansion of the semiconductor and electronics industries and manufacturing. The expansion of the commercial sector is driving the call for HVAC systems. The expansion in the adoption of HVAC systems is predicted to increase the call for thermistor temperature sensors. China's Internet data centres are predicted to grow, reaching 22 times that of the United States, or at least 10 times the current space of Japan. Since the region dominates the worldwide HVAC market, it offers a great opportunity for the thermistor temperature sensors market. Additionally, the escalating number of manufacturing plants, where temperature plays a major role, is believed to drive the adoption of HVAC systems, subsequently escalating the call for NTC thermistors in the region.
A drop in worldwide calls for coal and electricity slowed the rally, followed by oil and gas. Fossil fuels that were already under pressure from surplus-induced low prices were further affected by prolonged shutdowns that caused people to work and learn from home and use less road or air transportation. Millions of individuals have lost their work, homes, and businesses. The major change brought about by the pandemic has been an escalated dependence on digital areas. All of this impacts electricity consumption, fuel consumption, and releases. Some believe these direct impacts on energy consumption, mobility, and the environment are unlikely to last, while others say they could trigger a worldwide transition to a low-carbon, low-carbon economy contacts. For oil and gas companies, whose financial results have already been affected by low fuel prices, this means taking all necessary measures to survive, which will include decisions to continue, cancel, postpone, or reduce investments in low-carbon technologies.
Market Key Players:
Frequently Asked Questions
The Global Thermistor Temperature Sensors Market is expected to grow with a CAGR of 9.37% between 2024-2029.
The Global Thermistor Temperature Sensors Market size is expected to reach a revised size of USD 1.59 billion by 2029.
Siemens Process Instrumentation, Backer Howatt Inc., and Sentrion Corporation are the three Thermistor Temperature Sensors Market key players.
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