According to a new market report by Lucintel, the future of the temperature sensor market looks promising with opportunities in the automotive, electronics, chemical, aerospace, oil & gas, healthcare, and other industries. The global temperature sensor market is expected to grow with a CAGR of 5% from 2020 to 2025. The major growth drivers for this market are growing demand for temperature sensors in the automotive industry and increasing use of temperature sensors in advanced and portable healthcare equipment.
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In this market, thermistor, resistance temperature detector (RTD), thermocouple, temperature sensor IC, and infrared temperature sensors are major product type.
Within the temperature sensor market, chemicals will remain the largest end use industry during the forecast period due to temperature sensors play an important role in the chemicals end-user industry. Processes such as refining, heat tracing, cracking, and incineration, and systems such as sanitary systems and piping systems use temperature sensors for temperature monitoring and control.
APAC is expected to witness the highest growth over the forecast period due to growth of the automotive industry and growth in industrialization across the region.
Honeywell, TE Connectivity, Texas Instruments, Siemens, ABB, Emerson, and Infineon are among the major manufacturers of the temperature sensor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the temperature sensor market by product type, output, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Temperature Sensor Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global temperature sensor market by product type, output, end use industry, and region as follows
By Product Type [$M shipment analysis for 2014 – 2025]:
Thermistor
Resistance Temperature Detector (RTD)
Thermocouple
Temperature Sensor IC
Infrared Temperature Sensors
Others
By Output [$M shipment analysis for 2014 – 2025]:
By End Use Industry [$M shipment analysis for 2014 – 2025]:
Electronics
Healthcare
Automotive
Chemical
Aerospace
Oil & Gas
Others
By Region [$M shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
China
Japan
India
South Korea
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.