Published Date: 2021-01-27
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According to the Graphical Research new growth forecast report titled “Europe Temperature Sensor Market Size 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}), By Application (Chemical, Oil & Gas, Consumer Electronics, Healthcare, Automotive)”, Estimated To Be Around USD 1.5 Billion By 2026.
Increasing deployment of temperature sensors in space applications for eliminating calibration and drift, will fuel the growth opportunities for the Europe temperature sensor market. The increasing need for applications, such as temperature stabilization in satellites and HVAC systems in aircraft, will propel the demand for temperature sensors in the region. Several industry players are inclined toward the development of temperature sensors specifically catering to space applications. For instance, in July 2020, Innovative Sensor Technology AG (IST) launched a new space telescope integrated with sensors for measuring temperatures ranging from -200 degree C to +200 degree C, for controlling temperature of outer shell and inside the satellite.
The multi-channel digital output segment accounted for a market value of around 95 % in 2019 and will rise at a CAGR of 5% during projected time period. The share is driven by its growing adoption in industrial & home automation systems. The digital sensor offers several benefits such as high accuracy and easy usage compared to analog output. Devices with multi-channel digital output use remote temperature sensors for accurate monitoring and measurement from far distance. These features will increase their adoption in smart home and IoT connected applications. Increasing demand for remote monitoring for improved security and safety will positively influence the temperature sensor manufacturers toward new product innovation. In July 2020, Dobeny introduced a new infrared temperature sensor and controller, IRT-R7100, which is a multi-channel digital temperature recorder with LCD display.
The chemical application segment in the Europe temperature sensor market accounted for over 18.5% market share in 2019 and will grow at a CAGR of 3% from 2020 to 2026. The market share is majorly attributed to the increase in need for temperature monitoring and control systems in chemical manufacturing plants. Temperature sensors in chemical plants are used for processes such as cracking, incineration, refining, and heat tracing of chemicals. Also, wireless sensors are integrated into systems, such as piping and sanitary systems, due to contactless monitoring and control of temperature, as operating temperature is comparatively high. Such advantages are anticipated to drive the demand for temperature sensors in chemical applications.
The UK accounted for over 10% market share in 2019 and will grow at a CAGR of 2.5% from 2020 to 2026 in the Europe market. The share is majorly attributed to the increasing deployment of data centers in the country to deliver highly secured computing environment. In December 2020, NTT has announced to launch London 1 data center which will triple their United kIngdom based data center footprint. The market players are continuously involved in new product innovation such as development of wireless temperature sensors for data centers. For example, in December 2020, ams launched its new, high-accuracy digital temperature sensor, “AS6221” designed for smart wearables and data centers.
Key players in the Europe Temperature sensor market are extensively focusing on new product innovations to stay competitive in the market. For instance, in October 2020, TE Connectivity launched MS5839 chlorine-resistant digital pressure and temperature sensor with compact size and optimized solution. In May 2020, Siemens introduced a new Sirius temperature monitoring relay, which offers monitoring of temperature of gases, solids, and liquids with compact size. Some of the key players in the market are WIKA Instruments, TE Connectivity, Siemens, and Endress+Hauser among others.
The Europe temperature sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD 1.5 million from 2016 to 2026 for the following segments:
Europe Temperature Sensor Market, By Product
Temperature Sensor Market, By Output
Europe Temperature Sensor Market, By Application
The above information has been provided for the following countries:
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