Temperature Sensor Market Size was valued at USD 6.35 billion in 2022, and is expected to reach USD 8.83 billion by 2030, and grow at a CAGR of 4.2% over the forecast period 2023-2030.
Temperature sensor is an electrical device, which measures temperature by an electrical signal. Temperature is a term used to describe the degree or heat capacity present in an object. These sensors can be used on a variety of systems to measure emissions and alert the end user. The temperature sensor finds its wide range of applications in several industries such as the electronics, automotive, and manufacturing industries. These sensors come in a variety of forms, with their own unique system for instance, an integrated temperature sensor (IC) is used in electrical systems to detect emissions and to initiate a cooling device.
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KEY DRIVERS:
Temperature sensors being used in space applications.
Rapid manufacturing automation and industry 4.0.
Increasing need for temperature sensors in the automobile industry.
RESTRAINTS:
Advanced sensors come with a high initial investment cost.
OPPORTUNITIES:
Government funding & support for IoT projects that need temperature sensors.
Increasing use of temperature control devices for managing food safety.
CHALLENGES:
Price reductions that never stop and fierce manufacturing competition.
High performance standards for advanced applications.
An outbreak of coronavirus is causing a worldwide havoc. Businesses and the workforce have to contend with major financial problems during the crisis. The global economy has refused to lower rates and will need many years to regain normal growth rates. The world is badly affected by the COVID19 epidemic in the financial and healthcare sectors. Due to the lockdown, the industrial and production work units were closed for an indefinite period which disrupted the entire supply chain. However, the global temperature sensor market has continued even in these difficult times and continues to grow. The increase in the acceptance of temperature sensors in several sectors has increased the demand for the temperature sensor market in this epidemic. As the temperature sensor industry offers a wide range of temperature adjustments that meet the needs of different sectors, it is boosting the market share of the temperature sensor. The steady increase in the implementation of temperature sensors will signal the growth of the temperature sensor market at the top for many years to come.
Based on Product Type, the temperature sensor market is segmented into Contact Temperature Sensors and Non-contact Temperature Sensors.
The non-contact temperature sensor is expected to register higher than half of the contact temperature sensor from 2023 to 2030, due to their volume measurement of higher body temperature or the object to be identified without physical contact between sensor and the measurement. These temperature sensors are widely used for small moving and inaccessible objects.
Based on Industry vertical, the temperature sensor market is segmented into Healthcare, Consumer Electronics, Chemicals, Advanced Fuel, Aerospace & Defense, Oil & Gas, Energy & Power, Metals & Mining, Food & Beverages, Pulp & Paper, Automotive and Others.
The consumer electronics segment is expected to register a highest CAGR during the forecast period. This segment is likely to continue to hold the largest market share during forecasting due to the growing acceptance of temperature sensors in consumer electronics, including smartphones, PCs, laptops, tablets, and other smart home appliances. More recently, a few new devices have also been added under this segment.
BY PRODUCT TYPE
Contact Temperature Sensors
Non-contact Temperature Sensors
BY OUTPUT
Analog
Digital
BY CONNECTIVITY
Wireless
Wired
BY INDUSTRY VERTICAL
Healthcare
Consumer Electronics
Chemicals
Advanced Fuel
Aerospace & Defense
Oil & Gas
Energy & Power
Metals & Mining
Food & Beverages
Pulp & Paper
Automotive
Others
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APAC had the largest share of the heat sensor market. China, India, South Korea, and Japan are the main contributors to the growth of the APAC temperature sensor market. The APAC heat sensor market is likely to be driven by automotive, pharmaceutical, and growing industries as well as the growing demand for temperature sensors from overseas markets in North America and Europe. However, the US, Canada, and Mexico are the main contributors to the growth of the temperature sensor market in North America. North America is one of the most advanced markets for temperature sensor technology due to the presence of outstanding system providers and major chemicals, oil and gas, health care, and food and beverage companies in the region.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the Temperature sensors market are STMicroelectronics, Honeywell International, Ultra Electronics Holdings, TE Connectivity, UTC Aerospace Systems, Analog Devices, Siemens, Maxim Integrated Products, Texas Instruments, ABB Limited and Emerson Electric Corporation.
Honeywell International-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 6.35 Billion |
| Market Size by 2030 | US$ 8.83 Billion |
| CAGR | CAGR of 4.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Type (Contact Temperature Sensors, Non-Contact Temperature Sensors) • By Output (Analog, Digital) • By Connectivity (Wireless, Wired) • By Industry Vertical (Healthcare, Consumer Electronics, Chemicals, Advanced Fuel, Aerospace & Defense, Oil & Gas, Energy & Power, Metals & Mining, Food & Beverages, Pulp & Paper, Automotive, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | STMicroelectronics, Honeywell International, Ultra Electronics Holdings, TE Connectivity, UTC Aerospace Systems, Analog Devices, Siemens, Maxim Integrated Products, Texas Instruments, ABB Limited and Emerson Electric Corporation. |
| Key Drivers | • Temperature sensors being used in space applications. • Rapid manufacturing automation and industry 4.0. |
| RESTRAINTS | • Advanced sensors come with a high initial investment cost. |
The Temperature Sensor Market size was valued at USD 6.35 billion in 2022 at a CAGR of 4.2%.
The market value is expected to reach USD 8.83 billion by 2030.
The market has been segmented with respect to product type, output, connectivity and industry vertical.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Temperature Sensor Market Segmentation, by product type
8.1Introduction
8.2 Contact Temperature Sensors
8.3 Non-contact Temperature Sensors
9. Temperature Sensor Market Segmentation, by output
9.1Introduction
9.2 Analog
9.3 Digital
10. Temperature Sensor Market Segmentation, by connectivity
10.1 Introduction
10.2 Wireless
10.3 Wired
11. Temperature Sensor Market Segmentation, by industry vertical
11.1 Introduction
11.2 Healthcare
11.3 Consumer Electronics
11.4 Chemicals
11.5 Advanced Fuel
11.6 Aerospace & Defense
11.7 Oil & Gas
11.8 Energy & Power
11.9 Metals & Mining
11.10 Food & Beverages
11.11 Pulp & Paper
11.12 Automotive
11.13 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13.Company Profiles
13.1 Texas Instruments
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 STMicroelectronics
13.3 Honeywell International
13.4 Ultra Electronics Holdings
13.5 TE Connectivity
13.6 UTC Aerospace Systems
13.7 Analog Devices
13.8 Siemens
13.9 Maxim Integrated Products
13.10 ABB Limited
13.11 Emerson Electric Corporation
14.Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
15.Conclusion
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