Future Market Insights estimates that the temperature transmitter market is expected to register a CAGR of 6.5% throughout the forecast period. The market is projected to expand from USD 3.6 billion in 2023 to USD 6.7 billion by 2033.
Key Factors Underpinning the Market Growth:
| Attributes | Details |
|---|---|
| Temperature Transmitter Market Size (2023) | USD 3.6 billion |
| Temperature Transmitter Market Size (2033) | USD 6.7 billion |
| Temperature Transmitter Market Forecast CAGR (2023 to 2033) | 6.5% |
Factors Limiting the Market Growth:
Trends Impacting the Industry of Temperature Transmitters:
Opportunities Unfolding in the Temperature Transmitter Market:
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The demand for temperature transmitters observed a 4.1% CAGR from 2018 to 2022. The temperature transmitters find wide applications in industries like food and beverages, oil and gas, metal and mining, paper and pulp, water and wastewater, pharmaceutical, etc.
Temperature transmitters are increasingly demanded in portable and advanced healthcare equipment. Factors like deteriorating lifestyles, an increasing geriatric population, and rising viral infections are expected to fuel the demand for sophisticated healthcare equipment.
Over the forecast period, the market is expected to expand at a CAGR of 6.5%. Supporting factors for market development include:
By 2033 end, the market is projected to amass a total of USD 6.7 billion.
| Historical CAGR | 4.1% |
|---|---|
| Forecast CAGR | 6.5% |
| Historical CAGR | 4% |
|---|---|
| Forecast CAGR | 6.3% |
The thermocouple segment enjoys a significant share of the market. Thermocouple is deployed in several applications owing to their broad range of technical specifications and models. Within the process industry, these transmitters are significantly deployed in power generation, metal treatment, chemical and petrochemical processing, etc. Thermocouples assist in checking the temperature in petroleum and chemical plants.
In petrochemicals and the oil and gas industry, temperature transmitters are employed in extraction, development, refining, and distribution to avoid moisture, corrosion, and overheating and regulate fuel use.
These temperature transmitters are capable of calculating high temperatures like exhaust gas temperatures. Over the forecast period, the segment is expected to observe continuous growth and drive the sale of temperature transmitters.
Principal Consultant
| Country | China |
|---|---|
| Market Value USD (2033) | USD 1.7 billion |
China is projected to account for USD 1.7 billion by 2033, expanding at a significant CAGR of 7.9%. The country holds market leadership in the field of temperature transmitters. Due to the flourishing manufacturing sector, the key players are finding significant growth prospects in the market.
Additionally, the easy availability of raw materials within the country is also a significant factor propelling the market growth. Due to a substantial increase in investment by top players, the China market observed significant growth.
| Historical CAGR | 6.1% |
|---|---|
| Forecast CAGR | 7.9% |
| Country | The United States |
|---|---|
| Market Value USD (2033) | USD 1 billion |
The United States is expected to attain a market value of USD 1 billion by 2033 end. In the meantime, the market is expanding at a CAGR of 5.3%. The country holds leadership in developing wearable devices, HVAC systems, and compact systems with standalone transmitters. As a result, driving significant sales of temperature transmitters.
Growing awareness about the benefits of these transmitters in different industries, such as oil and gas, automotive, and healthcare, is further supporting the country’s growth.
| Historical CAGR | 1.1% |
|---|---|
| Forecast CAGR | 5.3% |
| Country | The United Kingdom |
|---|---|
| Market Value USD (2033) | USD 173.8 million |
The United Kingdom temperature transmitter industry is projected to obtain USD 173.8 million by 2033. Over the forecast period, the market is projected to trail at a CAGR of 4.9%. Due to strict rules related to environmental safety and emission control in the country, the market is observing substantial growth prospects for temperature transmitter manufacturers.
Numerous government authorities and EU agencies have mandated strict rules for industrial manufacturers to invest in advanced technologies to efficiently monitor outdoor and indoor conditions.
| Historical CAGR | 0.6% |
|---|---|
| Forecast CAGR | 4.9% |
Key players in the temperature transmitter industry are funding research and development to launch advanced versions of temperature transmitters with functional features for industrial applications. In addition, a substantial amount of well-established firms operating in the market are concentrating on acquiring new startups to cement their market position.
Leading players are indulged in boosting their sales volume and reaching new geographical boundaries. These firms can be seen releasing upgraded series of these devices with better operational effectiveness and reduced cost to gain their foothold in the market.
Key Developments in the Temperature Transmitter Market
Key Manufacturers in the Temperature Transmitter Market:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion/ million for Value and Volume in ‘000’ Units |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, the United Kingdom, Germany, France, Spain, Italy, Russia, India, Thailand, Indonesia, Malaysia, China, Japan, South Korea, Australia, Oceania, GCC Countries, South Africa, Türkiye |
| Key Segments Covered | Sensing Technology, Industry, Mounting Technology, Communication Protocol, and Region |
| Key Companies Profiled | Emerson Electric Company; ABB Ltd.; Endress + Hauser AG; Siemens AG; Yokogawa Electric Corporation; Wika Alexander Wiegand SE & Co. KG; Johnson Controls, Inc.; Honeywell International Inc.; Schneider Electric SE; Vaisala OYJ |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
In 2023, the worldwide market value is expected to be around USD 3.6 billion.
Global demand temperature transmitter might grow at 6.5% per year till 2033.
China currently leads and could become USD 1.7 billion market by 2033.
Demand for temperature transmitters surged at 4.1% from 2018 to 2022.
Emersion, ABB, and Endress are some top players in the present market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sensing Technology 5.1. RTD 5.2. Thermocouple 5.3. Universal 5.4. Multi-channel 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry 6.1. Oil & Gas 6.2. Food & Beverages 6.3. Water & Wastewater 6.4. Paper & Pulp 6.5. Metal & Mining 6.6. Power 6.7. Chemical 6.8. Pharmaceutical 6.9. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Mounting Technology 7.1. Din-Rail 7.2. Head 7.3. Field 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Communication Protocol 8.1. Hart and Wireless Hart 8.2. Foundation Fieldbus 8.3. Profibus PA 8.4. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Emerson Electric Company 17.2. ABB Ltd. 17.3. Endress + Hauser AG 17.4. Siemens AG 17.5. Yokogawa Electric Corporation 17.6. Wika Alexander Wiegand SE & Co. KG 17.7. Johnson Controls, Inc. 17.8. Honeywell International Inc. 17.9. Schneider Electric SE 17.10. Vaisala OYJ 18. Assumptions & Acronyms Used 19. Research Methodology
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Temperature Transmitter Market
