Temperature Sensors Market Size, Share, Forecast, & Trends Analysis by Type (Contact Sensors, Non-contact Sensors), Output, End-use Industry, Geography

Description

List of Tables

Temperature Sensors Market by Type (Contact Sensors (Thermistors, Thermocouples, RTDs, Others), Non-contact Sensors), Output (Analog, Digital), End-use Industry (Automotive, Healthcare, Consumer Electronics, Oil & Gas, Others), Geography-Forecast to 2031.

The research report titled, 'Temperature Sensors Market by Type (Contact Sensors (Thermistors, Thermocouples, RTDs, Others), Non-contact Sensors), Output (Analog, Digital), End-use Industry (Automotive, Healthcare, Consumer Electronics, Oil & Gas, Others), Geography-Forecast to 2031, provides an in-depth analysis of the temperature sensors market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The temperature sensors market is projected to reach $10.5 billion by 2031, at a CAGR of 5.1% from 2024 to 2031.

The growth of the temperature sensors market is driven by the increasing utilization of temperature sensors in building automation, the growing demand for temperature sensors within the automotive industry, and the rising integration of sensors in smart devices. Moreover, the rising integration of temperature sensors in wearables and the increasing automation of industrial processes are expected to create market growth opportunities. However, fluctuations in raw material prices may restrain market growth. Additionally, stringent performance requirements in advanced applications pose challenges to the market's growth.

The temperature sensors market is segmented based on type (contact sensors [thermistors, thermocouples, RTDs, other contact sensors, non-contact sensors), output (analog, digital), end-use industry (chemicals, oil & gas, consumer electronics, energy & power, healthcare, automotive, metals and mining, food & beverages, aerospace & defense, and other end-use industries). The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on type, the temperature sensors market is segmented into contact sensors and non-contact sensors. In 2024, the contact sensors segment is expected to account for the larger share of over 83.0% of the global temperature sensors market. This segment's large market share can be attributed to the growing adoption of contact sensors for detecting solids, liquids, or gases across a broad temperature range and the increasing utilization of these sensors in medical, pharmaceutical, and food processing applications for temperature monitoring and control. In response to this increasing utilization, market players are increasingly focusing on product development initiatives. For instance, in September 2024, TDK Corporation (Japan) launched its new NTCWS series of NTC thermistors featuring Au wire bonding.

However, the non-contact sensors segment is projected to register the highest CAGR during the forecast period. This segment's growth can be attributed to the increasing adoption of non-contact sensors in industries like metals, minerals, paper, and plastics. These sensors offer benefits such as accurate temperature determination without physical contact and rapid response times.

Based on output, the temperature sensors market is segmented into analog and digital. In 2024, the digital segment is expected to account for a larger share of over 71.0% of the global temperature sensors market. The large share of this segment can be attributed to the increasing demand for temperature sensors with low power consumption and high accuracy and the rising utilization of digital sensors across scientific, medical, and aerospace applications, as well as in test and measurement equipment and industrial automation applications. Moreover, the digital segment is projected to register the highest CAGR during the forecast period.

Based on end-use industry, the temperature sensors market is segmented into chemicals, oil & gas, consumer electronics, energy & power, healthcare, automotive, metals and mining, food & beverages, aerospace & defense, and other end-use industries. In 2024, the consumer electronics segment is expected to account for the largest share of the global temperature sensors market. The large market share of this segment can be attributed to the growing utilization of temperature sensors in consumer electronics to monitor and regulate the heat generated within devices, thereby preventing overheating and potential damage. For instance, in March 2024, Amazon.com, Inc. (U.S.) launched the 5th generation of Echo Dot in India, featuring enhanced audio, motion detection, temperature sensing capabilities, and tap gesture controls.

However, the automotive segment is projected to register the highest CAGR of 7.0% during the forecast period. The growth of this segment can be attributed to stringent emission regulations for automobiles, the proliferation of electric and autonomous vehicles, and the increasing utilization of temperature sensors for monitoring engine coolant, air intake, and ambient air temperatures. In response to this increasing utilization, market players are increasingly focusing on product development initiatives. For instance, in January 2024, Microchip Technology Inc. (U.S.) launched the MCP998x family of 10 automotive-qualified remote temperature sensors.

Based on geography, the temperature sensors market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 38.0% of the temperature sensors market. Asia-Pacific's significant market share can be attributed to the rising demand for cost-effective and highly efficient temperature sensors across various sectors, including chemicals, oil & gas, consumer electronics, and healthcare. Additionally, factors such as increasing investments in industrial automation, rising per capita income, government initiatives promoting energy efficiency, and the growth in the automotive industry contribute to the growth of this regional market. Moreover, the market in Asia-Pacific is projected to register the highest CAGR of 6.5% during the forecast period.

Key Players:

The key players operating in the temperature sensors market are Texas Instruments Incorporated (U.S.), Panasonic Holding Corporation (Japan), Siemens AG (Germany), Honeywell International Inc. (U.S.), ABB Ltd. (Switzerland), Analog Devices, Inc. (U.S.), General Electric Company (U.S.), Kongsberg (Norway), Emerson Electric Co. (U.S.), STMicroelectronics (Switzerland), Microchip Technology Inc. (U.S.), NXP Semiconductors (Netherland), Robert Bosch GmbH (Germany), TE Connectivity (Switzerland), and Omega Engineering, Inc. (U.S.).

Key questions answered in the report:

Which are the high-growth segments in the temperature sensors market based on type, output, and end-use industry?
What was the historical market for temperature sensors?
What are the temperature sensors market forecasts and estimates for the period 2024-2031?
What are the major drivers, restraints, and opportunities in the temperature sensors market?
Who are the major players, and what shares do they hold in the temperature sensors market?
What is the competitive landscape like in the temperature sensors market?
What are the recent developments in the temperature sensors market?
What are the different strategies adopted by the major players in the temperature sensors market?
What are the key geographic trends, and which are the high-growth countries in the temperature sensors market?
Who are the local emerging players in the global temperature sensors market, and how do they compete with the other players?

Scope of the report:

Temperature Sensors Market Assessment-by Type

Contact Sensors
- Thermistors
- Thermocouples
- Resistance Temperature Detectors (RTDs)
- Other Contact Sensors
Non-contact Sensors

Temperature Sensors Market Assessment-by Output

Analog
Digital

Temperature Sensors Market Assessment-by End-use Industry

Chemicals
Oil & Gas
Consumer Electronics
Energy & Power
Healthcare
Automotive
Metals and Mining
Food & Beverages
Aerospace & Defense
Other End-use Industries

Temperature Sensors Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Switzerland
- Netherlands
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Singapore
- Malaysia
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- UAE
- Israel
- Rest of Middle East & Africa

Product Code: MRSE - 1041139

1. Introduction

1.1 Market Definition
1.2 Currency & Limitations
- 1.2.1 Currency
- 1.2.2 Limitations

2. Research Methodology

2.1 Research Approach
2.2 Process of Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3 Market Sizing and Forecast
- 2.3.1 Market Size Estimation Approach
- 2.3.2 Growth Forecast Approach
2.4 Assumption for the Study

3. Executive Summary

3.1 Market Overview
3.2 Market Analysis, by Type
3.3 Market Analysis, by Output
3.4 Market Analysis, by End-use Industry
3.5 Market Analysis, by Geography
3.6 Competitive Analysis

4. Market Insights

4.1 Overview
4.2 Factors Affecting Market Growth
- 4.2.1 Drivers
  - 4.2.1.1 Increasing Utilization of Temperature Sensors in Building Automation
  - 4.2.1.2 Growing Demand For Temperature Sensors Within the Automotive Industry
  - 4.2.1.3 Rising Integration of Sensors in Smart Devices
- 4.2.2 Restraints
  - 4.2.2.1 Fluctuations in Raw Material Prices
- 4.2.3 Opportunities
  - 4.2.3.1 Rising Integration of Temperature Sensors in Wearables
  - 4.2.3.2 Increasing Automation of Industrial Processes
- 4.2.4 Challenges
  - 4.2.4.1 Stringent Performance Requirements in Advanced Applications
4.3 Trends
- 4.3.1 Miniaturization of Sensors
- 4.3.2 Rising Demand for Energy-efficient Temperature Sensors
4.4 Case Studies
4.5 Vendor Selection Criteria/Factors Affecting Buying Decision
4.6 Porter's Five Forces Analysis
4.7 Supply Chain Analysis

5. Temperature Sensors Market Assessment-by Type

5.1 Overview
5.2 Contact Sensors
- 5.2.1 Thermistors
- 5.2.2 Thermocouples
- 5.2.3 Resistance Temperature Detectors (RTDs)
- 5.2.4 Other Contact Sensors
5.3 Non-contact Sensors

6. Temperature Sensors Market Assessment-by Output

6.1 Overview
6.2 Analog
6.3 Digital

7. Temperature Sensors Market Assessment-by End-use Industry

7.1 Overview
7.2 Chemicals
7.3 Oil & Gas
7.4 Consumer Electronics
7.5 Energy & Power
7.6 Healthcare
7.7 Automotive
7.8 Metals and Mining
7.9 Food & Beverages
7.10 Aerospace & Defense
7.11 Other End-use Industries

8. Temperature Sensors Market Assessment-by Geography

8.1 North America
- 8.1.1 U.S.
- 8.1.2 Canada
8.2 Europe
- 8.2.1 Germany
- 8.2.2 U.K.
- 8.2.3 France
- 8.2.4 Italy
- 8.2.5 Spain
- 8.2.6 Switzerland
- 8.2.7 Netherlands
- 8.2.8 Rest of Europe
8.3 Asia-Pacific
- 8.3.1 Japan
- 8.3.2 China
- 8.3.3 India
- 8.3.4 South Korea
- 8.3.5 Taiwan
- 8.3.6 Singapore
- 8.3.7 Malaysia
- 8.3.8 Rest of Asia-Pacific
8.4 Latin America
- 8.4.1 Mexico
- 8.4.2 Brazil
- 8.4.3 Rest of Latin America
8.5 Middle East & Africa
- 8.5.1 UAE
- 8.5.2 Israel
- 8.5.3 Rest of Middle East & Africa

9. Temperature Sensors Market Assessment-Competitive Analysis

9.1 Overview
9.2 Key Growth Strategies
9.3 Competitive Dashboard
- 9.3.1 Industry Leaders
- 9.3.2 Market differentiators
- 9.3.3 Vanguards
- 9.3.4 Contemporary Stalwarts
9.4 Vendor Market Positioning
9.5 Market Shares/Rankings, by Key Players

10. Company Profiles

10.1 Texas Instruments Incorporated
10.2 Panasonic Holding Corporation
10.3 Siemens AG
10.4 Honeywell International Inc.
10.5 ABB Ltd
10.6 Analog Devices, Inc.
10.7 General Electric Company
10.8 Kongsberg
10.9 Emerson Electric Co.
10.10 STMicroelectronics
10.11 Microchip Technology Inc.
10.12 NXP Semiconductors
10.13 Robert Bosch GmbH
10.14 TE Connectivity
10.15 Omega Engineering, Inc.

11. Appendix

11.1 Available Customizations
11.2 Related Reports