Temperature Sensors Market to Witness Enhanced Demand From Semiconductors, Automotive Segment, Plastics & Metal Industry by 2020 | Million Insights

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Jan 14, 2019, 07:10 ET

FELTON, California, January 14, 2019 /PRNewswire/ --

The global Temperature Sensors Market is anticipated to reach USD 6.13 billion by 2020. Rising demand for temperature sensors in semiconductors, automotive segment, and in other process industries including F&B, plastics and metal is expected to drive the market growth over the forecast period. Increasing need for advanced sensing technologies including image, pressure, proximity, heat and acceleration sensors among various industry players, coupled with rising number of automotive manufacturing facilities particularly in emerging economies including India, and China can be attributed as the major factor propelling the market growth. Demand for highly advanced innovative consumer electronics is expected to increase owing to changing consumer preferences for high performance and efficient products. These trends are anticipated to positively affect the temperature sensors product since sensors are considered to be the major part of electronic devices. Use of nanotechnology and micro technology enables contactless and accurate measurements are anticipated to offer future opportunities to the sensors market. Temperature controls are vital for manufacturing, storing and handling of medical drugs and devices. The sensors are widely used in communication sector including mobile phones and other handheld devices. They maintain and provide efficient performance coupled with reduction in power consumed by monitoring and controlling heat. Increasing demand for tech savvy products is expected to steer the overall market.

These sensors are also used in switches, wireless routers, VoIP equipment Bluetooth devices, modems. Growing demand for these products and devices would positively impact the sensors market growth over the forecast period. Personal computers, scanners, copiers, POS terminals and printers constitute sensors for temperature control and to avoid and accessories such as scanners, printers, copiers and POS terminals. Entertainment systems such as gaming consoles Blu-Ray/DVD players, and flat panel TVs, also use these devices to enhance performance and provide better reliability. Increasing awareness and adoption of HVAC modules is anticipated to favorably influence the global industry. Technological advancements coupled with reduction in prices is expected to result in launch of new product applications in HVAC sector. Lithium neonate and Lanthanum gallium silicate also known as langasite form the key raw materials of temperature sensors that improve measurement ranges of these sensors. Silicon sensors are widely used materials since they are easily available, cost efficient and are used to measure physical parameters including pressure. Multi sensors are extensively used in mass applications due to their stability and thereby driving the global temperature sensors growth rate. Rising concern towards surveillance and security is expected to propel the demand for sensors over the next seven years. Government initiatives for safety and environmental norms are anticipated to steer the market growth. The launch of MEMS technology in the market can be attributed as the major opportunities for market in the future.

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On the basis of product type, the global market has been segmented into Bimetallic Sensor, Sensor IC, Thermistor (Negative and Positive Temperature Coefficient), Resistive Detector (RTD), Thermocouple, Infrared and Fiber Optic temperature sensors. Thermocouples are expected to have the largest market share in terms of revenue owing to its wide applications in several industries including process, metal and petrochemicals industries, owing to quick response to temperature fluctuations, user friendliness, and simplicity. They are also extensively used in mechanical and electrical apparatus for testing prototypes that are produced for manufacturing. Thermistors are expected to witness significant growth rate over the forecast period. A thermistor is a superior type of resistor that tends to change its physical resistance value when exposed to temperature changes. These sensors usually constitute and made of ceramic materials including oxides of manganese, nickel, cobalt coated in glass which makes them easily damaged. High speed of response time to minor changes in accuracy repeatability and temperature is expected to propel the market growth of this segment.

Bimetallic temperature sensors are expected to grow at a moderate rate. These sensors are widely used to reduce electrical power in household and offices by operating on a relay, controlling an electronic ignitor, either a resistance heater or electrically power-driven spark producing device. North America holds the major share in the global market owing to increasing in demand and need for temperature sensors in home weather stations, smart homes particularly in regions such as U.S. and Canada. Increasing investment in R&D and technological advancements can be attributed as the key factor for the market dominance in this region. Asia Pacific is expected to witness significant growth rate owing to increasing healthcare, oil & gas and automobile sectors in the region. Key market players are ABB Ltd., Texas Instruments Incorporated, Honeywell International, Inc. Analog Devices, Siemens AG, Maxim Integrated Products, Inc., Other industry participants include Kongsberg Gruppen, Danaher Corporation, Emerson Electric Company, TE Connectivity Ltd., General Electric, Panasonic Corporation, Microchip Technology Incorporated, NXP Semiconductors, and STMicroelectronics. Major players in the industry invest more in partnerships, research &development and collaborations with local players to develop high performance and enhanced temperature sensors. Many companies manufacture products and also provide services and system integrators to the clients forming an important role in the market.

Market Segment:

Temperature Sensors Application Outlook (Revenue, USD Million, 2012 - 2020)
- Automotive
- Consumer Electronics
- Environmental
- Healthcare & Medical
- Process Industries
- Others

Temperature Sensors Regional Outlook (Revenue, USD Million, 2012 - 2020)
- North America
  - U.S.
- Europe
  - Germany
  - UK
- Asia Pacific
  - China
  - Japan
  - India
  - RoW
  - Brazil

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