Temperature Transmitter and Humidity Transmitter Market Worth 4.94 Billion USD by 2022
PUNE, India, February 12, 2016 /PRNewswire/ --
According to the new market research report "Temperature Transmitter and Humidity Transmitter Market by Sensing Technology, Mounting Technology (Head, Field, & Din-Rail), Communication Protocol, Industry (Chemical, Power, Oil & Gas, And Others) And Geography - Global Trend & Forecast to 2022", published by MarketsandMarkets, the Temperature Transmitter Market is expected to reach USD 3.58 Billion by 2022, at a CAGR of 4.19% between 2016 and 2022. The Humidity Transmitter Market is expected to reach USD 1.36 Billion by 2022, at a CAGR of 1.84% between 2016 and 2022.
Browse 79 market data Tables and 73 Figures spread through 180 Pages and in-depth TOC on "Temperature Transmitter and Humidity Transmitter Market"
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Early buyers will receive 10% customization on this report.
The growing automation across process industries for optimizing the resources and improving the cost, safety, and security is driving the growth of the Temperature Transmitter Market. The deployment of temperature transmitters is expected to grow in industries such as power, chemical, pharmaceutical, and metal & mining. Humidity measurement in industries is critical as it may affect the total cost of the product as well as the health and safety of the personnel. The application of humidity transmitters is expected to grow in various industries such as HVAC & building automation, food & beverage, textile, pulp & paper, and pharmaceutical.
The thermocouple sensing type of temperature transmitter and the capacitive sensing type of humidity transmitter are expected to register highest growth rates:
The market for the thermocouple sensing type of temperature transmitter is expected to grow at the highest rate owing to its cost effectiveness, ruggedness, measurement speed, and range of temperatures that it 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 widely used in industrial, commercial, and meteorological applications. This sensing technology is capable of operating accurately down to 0% relative humidity (RH).
Asia-Pacific expected to grow at the highest CAGR in both temperature transmitter and humidity transmitter markets during the forecast period:
The Asia-Pacific market is expected to grow at the highest growth in both the markets 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 systems in residential and commercial projects in the Asia-Pacific region is driving the market for humidity transmitters.
Emerson Electric Company (U.S.), Endress+Hauser AG (Switzerland), ABB Ltd. (Switzerland), Honeywell International Inc. (U.S.), Yokogawa Electric Corporation (Japan), Siemens AG (Germany), 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 the humidity transmitter market are Johnson Controls, Inc. (U.S.), Honeywell International Inc. (U.S.), Siemens AG (Germany), Schneider Electric SE (France), General Electric (U.S.), and Vaisala Oyj (Finland).
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This report describes the market trends, drivers, and challenges with respect to the temperature and humidity transmitter market, and forecasts the market up to 2022. This global report gives a detailed view of the market across the four geographies, namely, North America, Europe, Asia-Pacific, and Rest of the World. The report profiles the most promising players in the temperature and humidity transmitter market. The competitive landscape of the market presents a very interesting picture, wherein the companies in industrial automation and field instruments are the key players in the market. These players are adopting strategies of partnerships and agreements with the companies in process industries, especially power, chemical, and oil & gas industries, across the globe.
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