Temperature sensors are being increasingly used in the automotive industry to measure the temperature of various systems, gases, and liquids within vehicles, to ensure proper functioning. Governments across the world have mandated the use of such sensors in vehicles to increase their fuel efficiency. These sensors are widely installed in the heating, ventilation, and air conditioning (HVAC) systems of automobiles. With the escalating automobile sales, especially in Asia-Pacific (APAC) countries like India, South Korea, and China, the adoption of these sensors will amplify in the coming years.
Moreover, the surging usage of body-worn sensors will drive the temperature sensor market at a 4.4% CAGR during the forecast period (2020–2030). The market generated $6.9 billion in 2019, and it is expected to generate $11.1 billion by 2030. Body-worn sensors are used to monitor the condition of patients in real time. Moreover, the rising penetration of the internet of things (IoT) technology in these sensors has improved their application and functioning. These instruments are being incorporated in custom-made devices for the healthcare sector and in smartwatches to measure the users’ pulse rate and temperature.
Get More Insights: Temperature Sensor Market Segmentation Analysis Report
Apart from the automotive & aerospace and healthcare sectors, the food and beverage industry also uses temperature sensors to monitor the temperature of the food and drinks during storage, quality checks, processing, and shipping. These instruments are installed in food and beverage processing machines, as their temperature must also be monitored. Owing to the growing consumption of processed foods in APAC, the sales of such sensors will escalate in the foreseeable future. In addition, these devices find wide application in the consumer electronics, industrial, utilities, pharmaceutical, and petrochemical and oil & gas sectors.
The categories under the product type segment of the temperature sensor market include resistance temperature detector (RTD), thermocouple, thermistor, temperature integrated circuit (IC), and others. Among these, the RTD category accounted for the largest market share in 2019 because RTDs are easily customizable and highly stable, linear, and accurate. The thermistor category will display the fastest growth in the forecast years owing to the numerous benefits, such as high sensitivity, faster response rate, low cost, ease of use, and small size, offered by these devices and their flexibility to be customized.
In recent years, market players have focused on launching new products to gain a larger consumer base and boost their income. For instance, in November 2019, STMicroelectronics N.V. introduced the STTS22H temperature sensor to monitor the heat flow in air humidifiers, asset trackers, HVAC systems, smart consumer devices, refrigerators, building automation systems, and shipping container loggers. Similarly, in February 2020, Heilind Electronics unveiled the 5024 EGR temperature sensor, which can measure accurately up to 300 degrees Celsius. This sensor is based on the negative temperature coefficient (NTC) technology.
Geographically, the APAC temperature sensor market generated the highest revenue in 2019, and it will continue to maintain its dominance during the forecast period. This can be attributed to the expansion of the food and beverage and automobile industries in this sector. This region is observing a considerable rise in the consumption of processed foods and automobiles on account of the rapid urbanization. Moreover, the increasing adoption of consumer electronics in China will fuel the market growth in the region.
Thus, the growth of the automobile, food and beverages, and healthcare industries will boost the adoption of temperature sensors in the future.
