NEW YORK, Feb. 29, 2016 /PRNewswire/ -- "The temperature transmitter market is expected to grow at steady rate"
The global temperature transmitter market was valued at USD 2.69 billion in 2015 and is expected to reach USD 3.58 billion by 2022, growing at a CAGR of 4.19% during the forecast period. The demand from the power and chemical industry is expected to contribute to the expected growth of the global temperature transmitter market. The global humidity transmitter market is expected to reach USD 1.36 billion by 2022, at a CAGR of 1.84% during forecast period.
"The thermocouple sensing type of temperature transmitter and the capacitive sensing type of humidity transmitter are expected to register the highest growth rate"
The market for thermocouple sensing type of temperature transmitter is expected to exhibit the highest growth rate as thermocouples are superior to other sensing methods in terms of cost, ruggedness, measurement speed, and range of temperatures that they can measure.
The market for the capacitive type of humidity transmitter is expected to grow at the highest rate during the forecast period. The capacitive sensing technology is used widely in industrial, commercial, and meteorological applications. This sensing technology is capable of operating accurately down to 0% relative humidity (RH).
"Asia-Pacific is expected to grow at the highest rate in both temperature transmitter and humidity transmitter markets during the forecast period"
Asia-Pacific is expected to grow at the highest rate in the temperature transmitter market between 2016 and 2022, owing to the demand from energy capacity expansion, new project commissioning, and demand for industrial automation to increase productivity while keeping the cost optimum. The growing demand for HVAC system and adoption of building automation system in residential and commercial projects in APAC is driving the market for humidity transmitters.
Breakdown of profile of primary participants
- By Company Type: Tier 1 — 55 %, Tier 2 — 20%, and Tier 3 — 25%
- By Designation: C-level — 30%, Manager level — 55%, Others — 15%
- By Region: North America — 10%, Europe — 20%, APAC — 40%, RoW — 30%
Emerson Electric Company (U.S.), ABB Ltd. (Switzerland), Endress+Hauser AG (Switzerland), Honeywell International Inc. (U.S.), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Schneider Electric SE (France), and WIKA Alexander Wiegand SE & Co. KG (Germany) are the key players in the global temperature transmitter market. The key players in humidity transmitter are Johnson Controls, Inc. (U.S.), Honeywell International Inc. (U.S.), Siemens AG (Germany), Schneider Electric SE (France), and Vaisala Oyj (Finland).
Reasons to Buy the Report:
The report would help the market leaders and new entrants in this market in the following ways:
1. This report segments the temperature and humidity transmitter market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the temperature and humidity transmitter market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, partnerships, new product launches, and mergers & acquisitions.
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