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The thermocouple temperature sensors market size is estimated to increase by USD 759.1 million between 2022 and 2027 and the size of the market is forecast to grow at a CAGR of 8.82%. Advancements in sensing technologies are key drivers in the Thermocouple Temperature Sensors Market. Continuous innovation enhances sensor accuracy, reliability, and functionality, meeting diverse industrial requirements. These technological advancements enable precise temperature measurement in harsh environments, improving process control and product quality across industries such as manufacturing, automotive, aerospace, and healthcare, driving market growth.
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This report provides a detailed analysis of the market by Type (Base metal thermocouple temperature sensor and Noble metal thermocouple temperature sensor ), Application (Oil and gas, Food and beverages, Automotive, Chemical and petrochemical, and Others ), and Geography (APAC, Europe, North America, Middle East and Africa, and South America).
The base metal thermocouple temperature sensor segment will account for a major share of the market's growth during the forecast period. The base metal sensors have high corrosion resistance, the ability to withstand high temperatures, and low cost. Due to this, it will increase the demand in the end-user industries, which will drive the growth of the base metal sensor segment of the global market during the forecast period.
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The base metal sensor segment was valued at USD 596.25 million in 2017 and continued to grow until 2021. These are commonly used in industries such as automotive, HVAC, food and beverage, and manufacturing. In automotive applications, base metal thermocouples are used for engine temperature monitoring and exhaust gas temperature management. In the manufacturing industry, they are used for temperature measurement in chemical processes, metal fabrication, and heat treatment.
The increasing demand for base metal sensors can be attributed to the growing awareness of temperature measurement in various industries, especially in energy and power generation. Additionally, the demand for temperature sensors that can withstand high temperatures and corrosive environments is increasing, which is driving the growth of the base sensor segment of the global market.
Based on application, the market has been segmented into oil and gas, food and beverages, automotive, chemical and petrochemical, and others. The oil and gas segment will account for the largest share of this segment. The increased adoption of advanced sensors and IoT devices in the oil and gas industry is driving the demand. The use of such sensors not only provides accurate temperature measurements but also helps in predictive maintenance, reducing downtime and repair costs.
Also, the oil and gas industry has increasingly focused on safety and environmental stewardship globally. Temperature sensors help in monitoring the temperature of tanks and pipelines, ensuring safe operations, and preventing catastrophic events such as explosions and spills. The growing demand for oil and gas worldwide is expected to spur the demand during the forecast period.
APAC is estimated to contribute 33% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
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APAC emerged as the largest geographical segment in the global market in 2022. APAC is undergoing a high rate of industrialization, which will make companies/industries seek services from OEMs rather than outsource or maintain in-house teams for maintenance services. Industrial equipment such as HVAC, boilers, oil and pipelines, motors, and other electrical equipment undergo high-temperature fluctuations and are subject to expansion and contraction, which may affect equipment precision and performance. Thus, a regular check of the temperature of industrial equipment is required to avoid errors in operation, which helps obtain buyers' confidence. Such factors will increase the market growth in this region during the forecast period.
The Thermocouple Temperature Sensors Market offers significant financial potential, valued for their wide temperature ranges and durability, making them indispensable across industries like manufacturing, aerospace, automotive, and petrochemical. These sensors thrive in harsh climatic conditions, ensuring precise temperature measurements. With affordability and widespread usage, particularly in the automotive sector, they play a crucial role in meeting emission norms, including those for autonomous and electric vehicles. Governments, such as the Indian government, are investing in charging infrastructure and establishing policy frameworks to support EV adoption. Key players like STMicroelectronics and Hyundai Autron continue to innovate in development labs, focusing on powertrain controllers and enhancing technical awareness, further driving market growth and expanding opportunities in this dynamic sector.
The surge in demand across diverse end-user sectors like petrochemicals and chemicals propels the global market forward. Advancements in Industrial IoT foster the widespread adoption of smart sensors, enabling real-time monitoring and wireless data transmission. This vitalizes sensing processes, crucial for maintaining quality and efficiency in the automotive, electrical, and electronics industries. Particularly, the automotive sector witnesses substantial demand, utilizing sensors for monitoring engine and exhaust heat, facilitating early issue detection and operational enhancement. Additionally, increasing emphasis on quality, efficiency, and sustainability drives sensor demand across industries. Their resilience to harsh environments and corrosive processes cements their popularity among end-users. With ongoing technological progress and automation trends, demand for thermocouple temperature sensors is poised for continuous growth.
The primary trend driving global market growth is the increasing demand for wireless temperature sensing. As industries increasingly favor wireless sensing systems, thermocouples are gaining traction for their resilience in harsh environments and high temperatures. Utilized in wireless temperature sensing systems, they ensure precise real-time measurements, facilitating prompt identification of fluctuations or anomalies indicative of process issues or hazards.
Industries like healthcare, food and beverage, and oil and gas rely on wireless sensing for quality control, safety, and regulatory compliance. This escalating demand across various sectors is poised to propel market growth significantly during the forecast period. This trend underscores the importance of wireless temperature sensing solutions in fostering operational efficiency and safety across industries.
High cost is a major challenge to the growth of the global market. The high cost is a significant challenge that has negatively impacted the growth of the global market. These are often more expensive than other types of temperature, such as thermistors and RTD, making them less accessible for industries with lower budgets. The high cost can be attributed to the sophisticated materials required for their manufacturing and their robust design, which allows them to withstand high heat and harsh environments.
Additionally, the required accuracy level of these often necessitates complex procedures, adding to their production costs. The high cost of these can prevent small and medium-sized businesses from investing in temperature monitoring solutions affecting the growth of the global market. Industries such as agriculture, food service, and consumer electronics often require temperature monitoring, but high sensor costs can put a strain on their budgets. In conclusion, the high cost is a significant obstacle to their widespread adoption in various industries, such as food and beverages, which will negatively impact the growth of the global market during the forecast period.
Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd.: The company offers thermocouple temperature sensors that measure non-contact temperature and are available with various lenses, and filters, allowing use in multiple applications, from industrial pyrometers to climate controls and medical devices.
Analog Devices Inc.: The company offers thermocouple temperature sensors that determine the temperature range that must be sensed in the operating environment using four main types of thermal sensors: silicon, thermistor, RTD, and thermocouple.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market Companies, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies Companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The Market is experiencing significant growth, fueled by advancements in smart cities and the electronic security sector. With the automotive industry shifting towards electric and autonomous vehicles to meet emission norms, the demand for precise temperature monitoring is surging. Global sensors market trends indicate a rise in intelligent sensor technology for extreme conditions, driving the need for thermocouple sensors in powertrain controllers and automatic temperature control systems. Companies like Hyundai Autron are leading the development of eco-friendly automotive sensor solutions, leveraging research expertise and technical awareness. Miniaturization enhances sensor integration, while precision measurements ensure accuracy in diverse applications. As disposable income regions invest in charging infrastructure, the market anticipates increased production of electric vehicles, further boosting the demand for thermocouple temperature sensors to address heating issues and prolong the life of devices while enabling the charging of multiple devices simultaneously.
Additionally, the market is witnessing a surge in demand, propelled by the rapid evolution of advanced technologies and the increasing emphasis on digital transformation across industries. In the industrial world, particularly within the automotive sector transitioning towards electric vehicles (EVs), thermocouple sensors play a crucial role in ensuring optimal performance and safety standards. With the Indian government's policy framework supporting the development of Electric vehicle (EV) and smart automotive equipment, there's a growing need for automatic temperature control (ATC) systems integrated with thermocouple sensors. Development labs and research experts are actively engaged in enhancing the efficiency and reliability of thermocouple sensors, especially in applications such as battery charges and charging multiple devices simultaneously. As the electronic security market continues to expand, thermocouple temperature sensors are poised to play a pivotal role in ensuring the safe operation of smart devices and equipment, driving further innovation and market growth.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Thermocouple Temperature Sensors Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.82% |
Market growth 2023-2027 |
USD 759.1 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.46 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 33% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Amphenol Advanced Sensors, Analog Devices Inc., Danfoss AS, Dwyer Instruments LLC, Emerson Electric Co., Endress Hauser Group Services AG, General Electric Co., Honeywell International Inc., Keyence Corp., Kongsberg Gruppen ASA, Microchip Technology Inc., NXP Semiconductors NV, Pyromation, Siemens AG, STMicroelectronics NV, TE Connectivity Ltd., Texas Instruments Inc., and WIKA Alexander Wiegand SE and Co. KG |
Market dynamics |
Parent market analysis, Market forecasting, market analysis and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our market analysis and report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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