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Temperature Sensor Market is Projected to Reach USD 9 Billion by 2026

Temperature sensor

Temperature Sensor Market is Projected to Reach USD 9 Billion by 2026

According to a recent study from market research firm Global Market Insights, The temperature sensor market is projected to garner noteworthy gains on account of surging application across diverse electronic appliances. The product is widely used in microwaves, air conditioners, battery chargers, and refrigerators. Since the introduction of AI and IoT, consumer electronics firms have started to combine these technologies with temperature sensors to improve their product’s efficiency and usefulness by gathering real-time temperature data.

Temperature sensors are witnessing massive traction across the oil & gas sector as they play a vital part in operations like extraction, production, refining, and distribution of oil, gases, and petrochemicals. This has compelled temperature sensor manufacturers to launch new product lineups. Citing an instance, earlier in October 2018, Crowcon released a high-temperature sensor that detects the levels of H2S across oil & gas applications in the Middle East.

According to a study conducted by Global Market Insights, Inc., the temperature sensor market could cross USD 9 billion by 2026.

To meet the high market demand, temperature sensor manufacturers are working towards developing novel technologies to meet the changing demands of the consumers as well as to achieve a competitive edge. For example, in 2018, Crowcon introduced a high- temperature sensor that allows the detection of H2S in the oil and gas sector in the Middle East.

Rising instances of digitalization in the manufacturing industry across Germany is one of the major factors supporting regional industrial development. Companies present in the region are working towards using advanced automation processes to enhance their manufacturing and improve competitiveness against other countries such as China. Consistent industrial advancement in Europe will bolster temperature sensor requirements.

Over the years, the automotive industry has registered notable gains due to the growing demand for different types of vehicles as a result of the improved lifestyle of people in both developed as well as developing regions. Thermistor contact sensors in the engine control units as well as exhausts are widely used in vehicles.

These sensors offer high-temperature sensing capacities with a cost-effective, robust design system. The recent emergence of e-vehicles due to the need to control environment degradation has supported the demand for temperature sensors all the more.

The prevailing coronavirus pandemic has magnified the demand for temperature sensor market due to the increasing need to regularly check the body temperature of the patients. Non-contact temperature sensors in particular have gained enormous growth opportunities in the healthcare industry owing to the growing use of infrared technology in temperature monitoring systems used towards the diagnosis of COVID-19.

Many medical device companies are working towards developing contact-less, reliable temperature checking machines. For instance, in August 2020, CORE- a venture of greenTEG AG- a Switzerland based engineering firm developed a wearable device that constantly measures the core body temperature on the go. A small temperature sensor market, about the size of 1.5 dominoes can be mounted in various ways.

Key Companies covered in the temperature sensor market are ABLIC Inc, Amphenol Advanced Sensors, ams AG, Analog Devices, Inc, Dwyer Instruments, Inc, Emerson Electric Co, Hans Turck GmbH & Co. KG, Honeywell International Inc, ifm electronic gmbh, Kongsberg Maritime, Littelfuse, Inc, Maxim Integrated, Microchip Technology Inc, Murata Manufacturing Co., Ltd, NXP Semiconductors, OMEGA Engineering, On Semiconductor, Pyromation, ROHM CO., LTD, Sensata Technologies, Inc, Sensirion AG Switzerland, Siemens, STMicroelectronics, TE Connectivity, Texas Instruments Incorporated, TOREX SEMICONDUCTOR LTD, Vishay.