Temperature Sensor Market Size, Share, COVID-19 Impact & Industry Analysis, By Type (Thermocouple, Thermistor, Resistance Temperature Detector (RTD), Semiconductor Temperature Sensor, Infrared Temperature Sensor, and Others), By End-User (Healthcare, Consumer Electronics, Automotive, Aerospace and Defense, Food and Beverages, Energy and Power, Oil and Gas, Chemicals, and Others), and Regional Forecast, 2019-2032

The global temperature sensor market size was valued at USD 5.0 billion in 2018 and is projected to grow worth USD 14.9 billion by 2032, exhibiting a CAGR of 7.3% during the forecast period. The market growth is driven by the increasing adoption in process industries such as oil and gas, and chemicals to prevent moisture, overheating, corrosion, and inefficient fuel usage. Also, the growing preferences for smart home and building and the increasing use of temperature sensors in consumer electronics industry will support the market growth during the forecast period.

Additionally, the growing research and development investments by key players for the development of enhanced products will boost the growth of the market. For instance, in November 2018, ABB launched NiTemp, a highly accurate non-invasive temperature sensor, to measure temperature without shutting down any system. This new product development opens new and unprecedented opportunities for ABB to measure temperature in the process plant.

MARKET TRENDS

Need for Temperature Control in Food Safety Management is Contributing to the Growth of the Market

Maintaining temperature is very crucial in the food and beverage industry, owing to the perishable nature of food. The automated temperature control and monitoring help in ensuring food safety during food processing, storage, and food transit. In the food and beverage industry, these sensors are used at various stages from the warehouse to retail stores to regulate temperature depending upon the food. Additionally, companies are providing these sensors specifically designed to measure the stringent High Temperature, Short Test (HTST) requirements for pasteurization.

For instance, Peak Sensors Ltd offers these sensors and related equipment to the food, beverage and catering industries to accurately measure the temperature. It supplies dataloggers that consist of these sensors, for monitoring refrigerated transport or chilled cabinets.

The Increasing Use in Home and Building Automation Surge the Temperature Sensor Market Growth

Sensors are considered as an integral component in the home and building automation network as it assists in informing smart devices about the surrounding environment. One of the primary sensors used in the home and building automation is thermal sensors. These sensors are integrated into HVAC, fire detection alarm systems, lighting control systems and smart thermostats to control and manage temperature automatically. Moreover, as these sensors assist in indicating the temperature of the environment, preventative action can be taken to ensure that the entire device is not compromised.

MARKET DRIVERS

Rising Penetration in Portable Healthcare Equipment to Augment the Growth of the Market

The growing ageing population and surge in diseases will spur demand for advanced portable healthcare devices. The portable healthcare devices are precise in temperature measurement and monitoring which are adopting thermal sensors. Medical devices with inbuilt sensors are used to monitor body temperature during RF hyperthermia treatments as well as to measure patient surface temperature during MRI, fMRI or other specialized electro-surgical procedures.

The increasing use of these sensors in the patient monitoring system, digital temperature measurement system and life-supporting machines is fueling the demand for such sensors in the healthcare sector. Also, rapid technological advancements in the healthcare sector and the demand for miniaturization of equipment will boost the temperature sensor market revenue.

Increasing Adoption in Automotive Sector to Drive the Growth of the Market

The growing adoption in automotive to maintain vehicle safety, enhance engine performance, and reduce emissions is fueling the growth of the market. Key players' are adopting various organic and inorganic strategies to develop advanced products and solutions, especially for the automotive industry. For instance, in august 2018, MS Motorservice International GmbH introduced an aftermarket exhaust gas temperature sensor particularly designed for temperature resistance in the range of - 40° to + 1,000°C for high accuracy. These sensors help in monitoring the hot exhaust gas flow and protect temperature-sensitive components, such as turbochargers, from overheating.

Furthermore, the government has implemented safety and emission control standards for the safety of vehicles. These have pushed automotive companies to deploy these sensors in their vehicles, thereby increasing the demand in automotive sector.

MARKET RESTRAINT

Saturation in Personal Computers Sales Owing to the Increasing Popularity of Tablets and Smartphone to Restrict the Market Growth

In personal computers, these sensors are used for controlling and monitoring the temperature of the CPU. Usually, 3 to 5 temperature sensor ICs are used in laptops and desktops. However, since the past few years, the sale of personal computers is decreasing owing to the growing demand for portable devices such as tablets and smartphones. These portable devices may or may not require these sensors. Thus, the growing adoption of tablets and smartphones has negatively impacted the shipment of these sensors. Hence, the declining PC market is hampering the growth of the temperature sensor market.

SEGMENTATION

By Type Analysis

Thermocouple Segment to Gain Momentum during the Forecast Period

Based on the type, the market is classified into thermocouple, thermistor, resistance temperature detector (RTD), semiconductor temperature sensor, infrared temperature sensor, and others. The thermocouple segment accounts for the maximum share of the market as these sensors are used in a huge range of applications due to their wide range of models and technical specifications. In the process industry, it is majorly used for chemical and petrochemical processing, metal treating, power generation, waste treatment, and diesel engine testing. It helps in testing temperature in the chemical and petroleum plants.

By End-User Analysis

Oil and Gas Sector to Account for Maximum Share

On the basis of the end-user, the market is classified into healthcare, consumer electronics, automotive, aerospace and defense, food and beverages, energy and power, oil and gas, chemicals, and others.  In the oil & gas and petrochemicals industry, these sensors are used in multiple processes such as extraction, production, refining, and distribution to prevent moisture, overheating, corrosion, and to determine fuel usage. The demand for these sensors is increasing rapidly in the automotive sector, owing to the growing necessity to accurately measure the temperature of a vehicle's oil, coolant, and air level to ensure optimum performance.

Moreover, these sensors are capable of measuring high temperatures such as exhaust gas temperatures. Thus, the demand for these sensors is expected to increase during the forecast period.

REGIONAL ANALYSIS

The findings based on our research methodology indicate North America held the largest share in the global temperature sensor market during the forecast period. North America, being technologically advanced in terms of developing HVAC systems, wearable devices, and compact systems with standalone sensors, is predicted to remain dominant during the forecast period. Furthermore, the rising awareness about the advantages of these sensors in various sectors, including automotive, oil & gas, and healthcare, supports market growth across the region. Europe is expected to hold the second position in the market by witnessing moderate growth in the long-term period.

Our market research study also includes findings suggesting the Asia Pacific witness healthy growth during the forecast period. The growth of the Asia Pacific market attributes to the rapidly developing automotive industry in countries, such as Japan, China, and India. For instance, according to the India Brand Equity Foundation (IBEF), the Indian automotive sector became the fourth largest in the world, with sales increasing 9.5% year-on-year to 4.02 billion units in 2017. Additionally, rapid advancements in the consumer electronics, healthcare, and food & beverage industry creates lucrative growth opportunities for the market in the region.

KEY INDUSTRY PLAYERS

TDK Corporation Focused on Product Development to Strengthen its Market Position                         

• TDK corporation offers NTC thermistor elements and sensor systems designed for  automotive, home and industrial applications to measure and regulate temperature with long-term stability even at high-temperature


• In October 2018, TDK Corporation introduced K525, a new EPCOS NTC sensor, specially designed for automotive and industrial electronics to measure extended temperature range between -10 °C up to +300 °C. This sensor is made up of ceramic and is suitable for applications and extreme operational conditions

List of Key Companies Profiled:

• ABB


• HONEYWELL INTERNATIONA


• Emerson Electric Co.


• L INC.


• DENSO CORPORATION


• STMicroelectronics


• Infineon Technologies AG


• Robert Bosch GmbH


• NXP Semiconductors


• OMRON Corporation


• TE Connectivity


• Analog Devices, Inc.


• Texas Instruments Incorporated


• Maxim Integrated


• Amphenol Advanced Sensors


• Renesas Electronics Corporation


• Kongsberg Maritime


• Microchip Technology Inc.


• Semiconductor Components Industries, LLC


• Siemens


• TDX Corporation


• Endress+Hauser Management AG


• Okazaki Manufacturing Company


• Yamari Industries, Limited

KEY INDUSTRY DEVELOPMENTS:

• November 2019 - Azbil Corporation, one of the leading companies in building and industrial automation, has started selling ceiling-mounted sensors, an indoor sensor, outside Japan, majorly for use in office building HVAC systems.


• August 2018 - OMRON Corporation, one of the global leaders in industrial automation, expanded its D6T series of super-sensitive non-contact MEMS thermal sensors with the addition of narrow-field version sensors to provide accurate non-contact measurements of objects’ temperature for industrial control and building automation systems.

Key Players to Maintain Their Strong Position in the Market

Key companies are investing in research and development for launching advanced sensors with specialized features for various industrial applications. Further, the majority of well-established companies working in the temperature sensor market are focused on acquiring new startups to strengthen their market position.

At present, the top players are involved in increasing their sales capacity as well as expanding their geographical boundaries. These players are also involved in introducing an updated series of these sensors with enhanced operational efficiency and low cost to gain a competitive edge.

REPORT COVERAGE

The Temperature Sensor Market report offers qualitative and quantitative insights and the detailed analysis of market size & growth rate for all possible segments in the market.

Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the adoption of temperature sensors by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key industry trends.

Report Scope& Segmentation