The temperature sensor market to grow at CAGR of 4.8% from 2020 to 2027

New York, April 15, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Temperature Sensor Market by Product Type, Output, End-user Industry And Region – Global Forecast to 2027" - https://www.reportlinker.com/p05006193/?utm_source=GNW
The temperature sensor 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. Fluctuating raw material prices is expected to restrain the market growth.

Chemicals end-user industry to hold the largest share in the temperature sensor market by 2027.
The chemicals end-user industry segment in the temperature sensor industry is projected to hold the largest share during the forecast period.Temperature sensors play an essential role in the chemicals end-user industry.

Processes such as refining, heat tracing, cracking, and incineration, and systems such as sanitary systems and piping systems use temperature sensors for temperature monitoring and control.

Contact type temperature sensor to hold the larger share in the temperature sensor industry by 2027.
The contact type temperature segment is projected to hold the majority of the temperature sensor market share during the forecast period. Contact temperature sensors are used widely in industries such as chemicals, consumer electronics, oil & gas, energy & power, and automotive, because of their low cost, wide temperature ranges, and high accuracy. These benefits will drive market growth

Digital output to hold a larger share in the temperature sensor market by 2027.
The digital output segment is projected to hold a larger share in the temperature sensor industry during the forecast period.Temperature sensors with digital output have several advantages over sensors with analog output and are especially suited for remote applications.

Digital temperature sensors find use in medical, aerospace, test and measurement equipment, and industrial automation.

Absolute humidity sensor to hold the larger share in the humidity sensor market by 2027.
The absolute humidity sensor segment is projected to hold a larger share in the humidity sensor market during the forecast period.Absolute humidity sensors, supported by two NTC thermistor elements, measure the absolute humidity by measuring the difference in thermal conductivity of dry air and the air containing water vapor.

These humidity sensors are used for measuring humidity in HVACs, fax machines, printers, automotive, weather stations, refrigerators, and food processing units.

APAC to be the largest temperature sensor market by 2027.
Asia Pacific is projected to hold the largest share in the global 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 APAC has created a conducive environment for the growth of the temperature sensor 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.

Breakdown of Profiles of Primary Participants:
• By Company: Tier 1–25%, Tier 2–40%, and Tier 3–35%
• By Designation: C-level Executives- 35%, Directors - 25%, and Others* - 40%
• By Region: North America - 45%, Europe - 20%, APAC - 25%, and RoW** - 10%
*Others include VPs, sales, marketing, and product managers.
**RoW includes South America and the Middle East & Africa.

Major Players Profiled:
• Honeywell (US)
• TE Connectivity (Switzerland)
• Texas Instruments (US)
• Endress+Hauser (Switzerland)
• Siemens (Germany)
• Texas Instruments (US)
• Dwyer Instruments (US)
• Maxim Integrated (US)
• WIKA Instrument (Germany)
• Amphenol (US)
• Emerson (US)

Research Coverage
This report offers detailed insights into the temperature sensor market, which is segmented based on product type into contact and non-contact type.Based on the output, the market is segmented into analog and digital.

Based on end-user industry, the market is segmented into chemicals, oil & gas, consumer electronics, energy & power, healthcare, automotive, metals & mining, food & beverages, pulp & paper, advanced fuel, aerospace & defense, glass, and others. The study also forecasts the size of the market based on four regions—North America, Europe, Asia Pacific (APAC), and RoW.

Reasons to Buy the Report

The report would help market leaders/new entrants in the following ways:
• It segments the temperature sensor market comprehensively and provides the closest approximations of the overall and segment-based market sizes across different product types, output, end-user industries, and regions.
• The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities for the growth of the market.
• This report would help stakeholders understand their competitors better and gain more insights to enhance their market position. The competitive landscape section includes the competitive analysis of top players, as well as strategies such as product launches & developments, mergers and acquisitions, partnerships, and contracts adopted by major market players.
Read the full report: https://www.reportlinker.com/p05006193/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________