Temperature Sensor Market by End-user Industry and Geography

According to the new research report, "Temperature Sensor Market by Product Type (Thermocouples, RTDs, Thermistors, Temperature Sensor ICs, Bimetallic, Infrared, and Fiber Optic Temperature Sensors), Output, End-user Industry, and Region – Global Forecast to 2027" is projected to grow from USD 6.3 billion in 2020 to USD 8.8 billion by 2027, recording a CAGR of 4.8%. The industry growth is driven mainly by increasing penetration of temperature sensors in advanced and portable healthcare equipment, growing demand for temperature sensors in the automotive sector, and rising adoption of home and building automation systems.

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By End-user Industry:

• Chemicals
•  Oil & Gas
• Consumer Electronics
• Energy & Power
• Healthcare
• Automotive
• Metals & Mining
• Food & Beverages
• Pulp & Paper
• Advanced Fuel
• Aerospace & Defense
• Glass
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Rest of Europe (Italy, Russia, Austria, the Netherlands, Denmark, Switzerland, Slovenia, Sweden, Finland, Norway, Romania, Bulgaria, Spain, and Poland)
• Asia Pacific (APAC)
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific (Australia, Taiwan, Indonesia, the Philippines, and Singapore)
• Rest of the World (RoW)
  • Middle East & Africa
  • South America

“Asia Pacific market to record significant growth during the forecast period.”

Asia Pacific is projected to account for the largest share in the temperature sensor market during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the temperature sensor industry in APAC. Fast track industrialization across the APAC region has created a conducive environment for the growth of the market. Expanding automobile and industrial manufacturing, in particular, is generating massive demand for temperature sensors. Also, robust demand for consumer equipment, including portable healthcare electronics and white goods, is expected to foster the demand for temperature sensors.

Key Market Players

The temperature sensor market is currently dominated by Honeywell (US), TE Connectivity (Switzerland), Texas Instruments (US), Endress+Hauser (Switzerland), and Siemens (Germany). A few of the major strategies adopted by these players to compete in the temperature sensor industry include product launches & developments, expansions, partnerships, and mergers & acquisitions.

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Benchmarking the rapid strategy shifts of the Top 100 companies in the Temperature Sensor Market
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