DUBLIN, July 18, 2017 /PRNewswire/ --
The "Temperature Sensors Market by Product Type (Bimetallic, Thermoistor, IC, RTD, Thermocouple, IR, Fiber Optics), End-Use Application (Oil & Gas, Chemical, Refining, HVAC, Automotive, Electrical, Electronics), and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
The temperature sensors market was valued at USD 4.99 Billion in 2016 and is expected to reach USD 6.86 Billion by 2023, at a CAGR of 4.5% between 2017 and 2023. The major factors driving the growth of this market include increasing demand for advanced and portable healthcare equipment, growing automotive industry, and increasing trend of home and building automation.
This report segments the temperature sensors market on the basis of product type, end-use application, and geography. The chemicals and petrochemicals industries are likely to hold major shares of the temperature sensors market for process end-use applications by 2023. Temperature sensors are used in applications such as 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 players, there is an increasing 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 market for these applications.
The temperature sensors market for HVAC is expected to grow at a high rate between 2017 and 2023. This market growth can be attributed to the rising trend of home and building automation. Temperature sensor is one of the vital components of HVAC systems; it helps to control and monitor temperature and in increasing the efficiency of HVAC systems. Thermocouples and temperature sensor ICs are commonly used HVAC systems because of their wide compatibility and robustness.
Thermocouples accounted for the largest market size among all the temperature sensor products owing to their wide applications across process and non-process industries. Low cost and broad operating range make thermocouples an ideal choice for a majority of applications. Additionally, thermocouples are being used to generate electricity. The advance applications of thermocouples as a temperature sensing component also include aviation systems.
Companies Mentioned
- ABB Limited (Switzerland)
- Acdelco (US)
- Amphenol Corporation (US)
- Analog Devices Inc. (US)
- Bosch (Germany)
- Conax (Norway)
- Delphi (US)
- Dorman (US)
- Emerson Electric Corporation (US)
- Global Mixed Mode Technology Inc. (Taiwan)
- Gunther (Germany)
- Honeywell International Inc. (US)
- Integrated Device Technology Inc. (US)
- Kongsberg Gruppen. (Norway)
- Maxim Integrated Products Inc. (US)
- Microchip Technology (US)
- NXP Semiconductors N.V. (Netherlands)
- ON Semiconductor Corporation (US)
- Omega Engineering Inc. (US)
- Panasonic Corporation (Japan)
- Siemens (Germany)
- Stmicroelectronics (Switzerland)
- TE Connectivity (Switzerland)
- Texas Instruments Inc. (US)
- Total Temperature Instrumation (US)
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Temperature Sensor Market, By Product Type
8 Market, By End-Use Application
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/l9bfmj/temperature
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