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Temperature Sensors Market by Product Type, End-Use Application, and Geography - Global Forecast to 2023

Temperature Sensors Market: Global Forecast until 2023

  • July 2017
  • 183 pages
  • ID: 5006193
In this report:
THE MARKET IN THE APAC REGION IS EXPECTED TO GROW FROM USD ##.## MILLION IN 2016 TO USD ##.## MILLION BY 2023, AT THE HIGHEST CAGR OF ##.##% DURING THE FORECAST PERIOD, WHILE THE EUROPEAN MARKET IS EXPECTED TO GROW AT THE SECOND-HIGHEST CAGR OF ##.##% BETWEEN 2017 AND 2023.
North America held a share of ##.##% of the total temperature sensor market in 2016, and the North American market is expected to grow at a CAGR of ##.##% between 2017 and 2023.

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"The global temperature sensors market is anticipated to rise at a CAGR (Compound annual growth rate) of 4.50 percent between 2017 and 2023."

The global temperature sensors market is anticipated to be valued at ~$6.9B by 2023, increasing at a compound annual growth rate (CAGR) of 4.50 percent between 2017 and 2023. Growing government initiatives toward pollution control, lean manufacturing, and process control are fueling the increase of the market for temperature sensors. Additionally, the trend of process monitoring and controlling is rising in the petrochemicals industry, which is anticipated to boost technological improvements. A top restraining factor for the increase ot the temperature sensors market is the dwindling market for personal computers.

"The chemicals and petrochemicals sectors are likely to hold main shares of the temperature sensors market for process end-use applications by 2023."

Temperature sensors are used in applications including gas flow indicators, liquid level indicators, commercial vending machines, pipeline and temperature monitoring, and welding equipment. With the highly mature oil market and stiff competition amongst actors, there is an growing demand for lean manufacturing and process optimization, which can only be achieved by replacing obsolete technologies. The replacement demand for temperature sensors will drive the industry for these applications.

"APAC will hold the biggest market share, and the sector in this area is forecast to witness a high increase in the next years."

Asia-Pac is forecasted to hold the biggest share of the temperature sensors market by 2023. The temperature sensors market in Asia Pacific (APAC) is anticipated to grow at an important rate between 2017 and 2023. This zone is a huge market for industries including mining, automotive, food & beverages, power generation, and electronics. The growing demand for consumer electronics and the increasing industrial market are forecast to steer the rise of the temperature sensors market in this area.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions have been managed with main people in the temperature sensors market. The break-up of primary participants for the industry report has been shown below:

• By Company category: Tier 1 - 20 %, Tier 2 - 40.0 percent, and Tier 3 - 40.0 percent

• By Description: C-suite executives - 40.0 percent and Managers - 60.0 percent

• By Area: North America continent - 40.0 percent, Europe (EU) - 20.0 percent, Asia-Pac - 25.0 percent, and rest of the world - 15.0 percent

The report also profiles the top actors in this industry. The main players decribed in this business report are ABB Limited, Analog Devices Inc., Emerson Electric Corporation, Maxim Integrated Products Inc., Siemens, TE Connectivity, and Texas instruments Inc..

Segment Research

This market research classifies the global temperature sensors market established on product class, end-use application, and area. The study discusses the main drivers, industry restraints, opportunities, and possibilities, as well as the value chain, pertaining to the market.

Reasons to Buy the Report

The analysis would benefit competitors/new sector entrants in this sector in these ways:

1. This document breaks down the temperature sensors market comprehensively and offers the closest industry size estimation for sub-segments across different areas.

2. The market research would benefit partners distinguish the pulse of the sector and offer them with info on key market drivers, market restraints, opportunities, and alternatives for industry growth.

3. This industry report would benefit partners comprehend their players better and acquire additional insights to enhance their rank in the business sector. The competitive outlook section includes the info on the players' ecosystem, launches of new product, acquisitions, alliances, strategic agreements, contracts, and collaborations.

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