Global Temperature Sensor Market to reach USD 7.75 Billion by 2027.Global Temperature sensor Market is valued approximately at USD 5.66 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.6% over the forecast period 2021-2027. A temperature sensor is a device used to measure and control temperature. This can be air temperature, metal temperature, liquid temperature or temperature of solid matter.. The global Temperature Sensor market is being driven by increasing penetration of temperature sensors in advanced & portable healthcare equipment, growing demand for temperature sensors in automotive sector, as there is a growing demand for accurate temperature sensors for applications such as engine coolant temperature management, outside air temperature management, active in-vehicle temperature management. Furthermore, increase in trend for wearable devices as well as rise in automotive industry, will provide new opportunities for the global Temperature Sensor industry. For instance, according to the source of statista, there has been rise in sales of cars worldwide, in year 2020 the sales reached to 63.8 million units which increases to 71.4 million units in year 2021. As a result, increased automotive industry will necessitate the use of temperature sensors in the manufacturing of different automobile parts, which will serve as a catalyst for the Temperature Sensor industry in the future. However, high initial cost involved in advanced sensors, may impede market growth over the forecast period of 2021-2027.
Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of global temperature market. the evolving automotive, medical, and industrial manufacturing companies rising the demand for temperature sensors which makes Asia Pacific the leading region across the world in terms of market share. Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to presence of prominent system suppliers as well as large chemicals, oil & gas, healthcare, and food & beverage companies in the region.
Major market player included in this report are:
Honeywell
Te connectivity
Texas Instruments
Endress + hauser
Siemens
Maxim Integrated
Emerson
Amphenol
Wika Instrument
Dwyer instruments
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Solid
Hollow
By Origin:
Virgin
Blended
Recycled
By Application:
Textile
Home Furnishing
Automotive
Filtration
Construction
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Temperature Sensor Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
