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Europe Temperature Sensor Market Size By Application (Chemical, Oil & Gas, Consumer Electronics, Healthcare, Automotive), By Product (Contact {Temperature Sensors ICs, Resistive Temperature Detectors, Thermistors, Thermocouples, Bimetallic Temperature Sensors}, Non-Contact {Infrared, Fiber-Optics}), By Output (Analog, Digital {Single-Channel, Multi-Channel}), Industry Analysis Report, Regional Outlook (UK, Germany, France, Italy, Spain, Russia), Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: January 2021 | Publisher: Graphical Research Report ID: GR1632 | Delivery : PDF

Europe Temperature Sensor Market size was valued at over USD 1 billion in 2019 and is expected to grow at a CAGR of over 3%.

Europe Temperature Sensor Market

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The market is experiencing a rapid growth owing to the increasing development of home and building automation systems in the region. The rising integration of technologies, such as Artificial Intelligence (AI), IoT, machine learning, cloud computing, and data analytics, will increase the demand for temperature sensors in building automation system. Several government initiatives accelerating the deployment of smart buildings and automation systems will augment the Europe market growth. For example, the European Commission, in July 2019, proposed a plan to update Energy, Environment and Development (EED) by including 30% energy efficiency by 2030.

The non-contact segment in the market accounted for over 12.5% and is anticipated to grow at a CAGR of around 3%. Among the non-contact segment, infrared will account for a significant market share owing to the rising adoption in advanced portable healthcare devices. They are used to monitor and diagnose patient’s health, such as severe infection, and also offer comfort to patients with improved accuracy. The rising development toward advanced thermal imaging equipment used in the medical sector will accelerate the adoption of infrared temperature sensors. In May 2020, SegunLife, developed a new infrared thermometer with accuracy up to 2 degree C. It is featured with no touch sensor, which reduces the risk of cross infections.

The automotive application segment in the Europe market held a market share of over 17% in 2019 and will grow at a CAGR of over 2.5% during the forecast timeline. The rising adoption of temperature sensors in automotive applications including HVAC systems, ADAS, and thermal seats, will drive the market growth. These sensors are also embedded in Electronic Control Unit (ECU), which controls cluster, lighting, HVAC, and others. These sensors closely monitor the temperature of ECUs and aid to improve vehicle performances. Major automotive OEMs in the region are focusing on introducing new products, catering to the growing demand of safety and security features in vehicles. For instance, in December 2020, Files Thru The Air launched a new sensor for monitoring temperature threshold in autonomous vehicles, which has the ability to transfer data through Wi-Fi for immediate control.

Germany was valued at over USD 390 million in 2019 and is expected to grow at 3% CAGR over the forecast period 2020-2026. The growth is majorly attributed to the rising demand for technologies, such as IIoT, and increasing digitization in the manufacturing sector. The companies are adopting advanced automation processes to modernize their manufacturing operation and increase their competitiveness in the market. For instance, in June 2020, Siemens has announced to adopt advanced manufacturing technologies such as 3D sensing, humidity monitoring system, IoT, and others catering to the rising adoption of Industry 4.0.

Key players operating in the Europe market are TE Connectivity, Endress+Hauser, Siemens, and WIKA Instruments, among others. These players are extensively focusing on strategic partnerships and collaborations to provide technically advanced products in the market. For instance, in October 2019, TE Connectivity collaborated with Hanhaa and Avnet for developing advanced smart tracking. This tracking system will monitor temperature & humidity level, location, orientation of shipment, and others. Also, in September 2019, Endress+Hauser signed a strategic partnership with Avanceon to expand its business growth and develop measurement and automation technology embedding sensors for industrial customers.
 

Frequently Asked Question(FAQ) :

The market size of Europe temperature sensor surpassed USD 1 billion in 2019.
The industry share of Europe temperature sensor is anticipated to grow at 3% CAGR between 2020 and 2026.
The automotive application segment in the Europe temperature sensor market held a market share of over 17% in 2019 and will grow at a CAGR of over 2.5% during the forecast timeline.

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Europe Temperature Sensor Market Size, Growth Analysis Report | 2026


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