Europe Temperature Sensors Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.70 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Temperature Sensors Market Analysis
The Europe temperature sensor market was valued at USD 1445 million in 2020, and it is projected to be worth USD 2133.1 million by 2026, registering a CAGR of 6.7% during the period 2021-2026.
- The adoption of temperature sensors in the healthcare, automotive, oil, and gas sectors is boosting the market's growth in the region. Electric vehicles and hybrid vehicles are expected to lead the growth of the country's automotive industry, with companies focusing on electric vehicle technologies. The federal government is also supporting the adoption of plug-in electric vehicles in the region.
- According to the Society of Motor Manufacturers and Traders (SMMT), the UK automotive industry is an essential part of the country's economy, worth more than EUR 82 billion turnovers and adding EUR 18.6 billion value to the UK economy. More than 30 manufacturers build more than 70 models of vehicles in the United Kingdom, which are supported by 2,500 component providers and skilled engineers.
- The increasing military spending of super-powerful countries is driving France's expenditure in the military sector. The French government's commitment to increasing the defense budget to 2% of the country's GDP by 2025 is indicated by the financial outlay of EUR 198 billion for 2019-2023 and its plans for a total of EUR 295 billion during 2019-2025. Such investments are poised to increase the usage of temperature sensors in the military segment of the country.
- The recently announced post-COVID-19 stimulus package of EUR 130 billion is set to allocate significant funding for infrastructure development, tax cuts, and further subsidies to invigorate Germany's electric vehicle market.
Europe Temperature Sensors Market Trends
This section covers the major market trends shaping the Europe Temperature Sensors Market according to our research experts:
Oil and Gas to Show Significant Growth
- The region is witnessing significant start-ups in the temperature sensors landscape. For instance, the UK-based Silixa focuses on developing distributed fiber optic monitoring solutions for the oil and gas industry. The company uses distributed temperature sensing technologies for data acquisition. Solutions are poised to find applications in multiple in-well applications through a single installation/re-entry and pipeline surveillance.
- France is witnessing multiple partnership activities. For instance, MIOS and CA PYROCONTROLE, two French industrial companies, combined their skills to bring connected sensors to a complex process on the pilot site of one of the major French players in refining by equipping LoRa temperature sensors on the flare stacks. MIOS developed an electronic circuit board incorporated in each CA PYROCONTROLE ATex Temperature Sensor and rolled out the entire LoRa radio communication infrastructure at the refinery site.
- Also, Spain-based Kintech Engineering was awarded a contract for supplying 15 complete solar monitoring stations. The solar monitoring stations are installed on five different photovoltaic solar plants, with a combined capacity of 240 MW. The monitoring stations include two SR30 class-A pyranometers from Hukseflux, equipped with both heating and ventilation and temperature sensors.
Automotive to Hold the Highest Market Share
- In the 2030 Climate Action Program, the government aims to have up to 10 Million EVs and 1 Million charging stations on German roads by 2030. In order to achieve this objective, several electric vehicle incentives have been extended or added. This factor is poised to make the automotive sector one of the significant users of temperature sensors in Germany.
- Also, France hosts significant events where several companies launch or showcase their respective products. For instance, the International Conference on Temperature Sensors is expected to happen in 2022 in France. It aims to bring together academic researchers, scientists, and research scholars to exchange and share their experiences and research results on various aspects of temperature sensors. It is expected to provide an interdisciplinary platform for practitioners, researchers, and educators to present the most recent innovations, trends, concerns, practical challenges encountered, and solutions adopted in the field of temperature sensors that can be actively implemented in the future Automotive Industry.
- In May 2020, the French government announced its plans to seek to jump-start the local auto industry that was affected by COVID-19 with a EUR 8 billion plan. The plan includes a significant boost to electric vehicles. This factor is expected to significantly drive the adoption of temperature sensors in the country's automotive sector.
Europe Temperature Sensors Industry Overview
The Europe Temperature Sensor Market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with innovative and sustainable packaging, many of the companies are increasing their market presence by securing new contracts and by tapping new markets.
- July 2020 - Sensirion announced that TDK used its humidity and temperature sensor SHTC3 in its smart multi-sensor wireless module SmartBug. The module is designed for several IoT (Internet of Things) applications and enables quick and easy access to smart and reliable sensor data. TDK's SmartBug is a multi-sensor wireless module that leverages TDK's MEMS sensors and algorithms for a wide range of IoT applications.
Europe Temperature Sensors Market Leaders
Siemens AG
ABB LIMITED
STMICROELECTRONICS NV
NXP Semiconductors NV
ROBERT BOSCH GMBH
*Disclaimer: Major Players sorted in no particular order
Europe Temperature Sensors Market News
- January 2021 - Switzerland-based Sensirion announced that the company, LivingPackets, utilized Sensirion's humidity and temperature sensors in its sustainable packaging solutions. Using the solution called THE BOX, packaging waste is expected to be reduced by over 100 billion deliveries annually. THE BOX consists of highly resistant materials. It can be recycled without a specific limit and can survive almost 1,000 transport trips before reprocessing.
- May 2020 - The smart wearables company, GOQii, launched a new smart band featuring sensors for measuring body temperature. It partnered with the German health tech startup, Thryve, to conduct a clinical study to detect COVID-19 infections using the device. The device, Vital 3.0, was developed within two months by the company. It can help users track vitals, like body temperature, heart rate, blood pressure, and sleep, apart from the step count. The thermal sensor allows continuous monitoring and on-demand checking. It has an accuracy of 0.3°F.
Europe Temperature Sensors Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Assessment of the Impact of COVID-19 on the Industry
4.3 Market Drivers
4.3.1 Growth in Industry 4.0 & Rapid Factory Automation
4.3.2 Increasing Demand for Wearable in Consumer Electronics
4.4 Market Restraints
4.4.1 Fluctuation in Raw Material Prices
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Buyers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Wired
5.1.2 Wireless
5.2 Technology
5.2.1 Infrared
5.2.2 Thermocouple
5.2.3 Resistance Temperature Detector
5.2.4 Thermistor
5.2.5 Temperature Transmitter
5.2.6 Fiber Optic
5.2.7 Others
5.3 End-user Industry
5.3.1 Chemical & Petrochemical
5.3.2 Oil & Gas
5.3.3 Metal & Mining
5.3.4 Power Generation
5.3.5 Food & Beverage
5.3.6 Automotive
5.3.7 Medical
5.3.8 Aerospace & Military
5.3.9 Consumer Electronics
5.3.10 Other End-user Industries
5.4 Country
5.4.1 United Kingdom
5.4.2 Germany
5.4.3 France
5.4.4 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Siemens AG
6.1.2 Panasonic Corporation
6.1.3 Texas Instruments Incorporated
6.1.4 Honeywell International Inc.
6.1.5 ABB Ltd
6.1.6 Analog Devices Inc.
6.1.7 Fluke Process Instruments
6.1.8 Emerson Electric Company
6.1.9 STMicroelectronics
6.1.10 Microchip Technology Incorporated
6.1.11 NXP Semiconductors NV
6.1.12 GE Sensing & Inspection Technologies GmbH
6.1.13 Robert Bosch GmbH
6.1.14 Gunther GmbH Temperaturmesstechnik
6.1.15 TE Connectivity Ltd
6.1.16 Denso Corporation
6.1.17 Omron Corporatio
6.1.18 FLIR Systems
6.1.19 Thermometris
6.1.20 Maxim Integrated Products
6.1.21 Kongsberg Gruppen
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
Europe Temperature Sensors Industry Segmentation
The temperature sensors have various types based on the technology type, such as Infrared, Thermocouple, Resistance Temperature Detectors (RTD), Thermistor, and others. The report describes the type of sensors, such as wired and wireless, and also provides the study of output, which are analog and digital.
The end-user industry is comprised of temperature sensor applications, and majorly includes Chemical & Petrochemical, Oil & Gas, Metal & Mining, Power Generation, Food & Beverage, Automotive, Medical, Aerospace & Military, and others. The study is also being provided based on the COVID-19 impact.
Europe Temperature Sensors Market Research FAQs
What is the current Europe Temperature Sensors Market size?
The Europe Temperature Sensors Market is projected to register a CAGR of 6.70% during the forecast period (2024-2029)
Who are the key players in Europe Temperature Sensors Market?
Siemens AG , ABB LIMITED , STMICROELECTRONICS NV , NXP Semiconductors NV and ROBERT BOSCH GMBH are the major companies operating in the Europe Temperature Sensors Market.
What years does this Europe Temperature Sensors Market cover?
The report covers the Europe Temperature Sensors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Temperature Sensors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Temperature Sensors Industry Report
Statistics for the 2024 Europe Temperature Sensors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Temperature Sensors analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
