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Temperature Sensors: A Global Strategic Business Report

Global temperature sensors market: $4.5 billion industry by 2018


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2014-03-14 08:07:01 - Temperature Sensors: A Global Strategic Business Report - a new market research report on companiesandmarkets.com

The global Temperature Sensors market is projected to reach US$4.5 billion by 2018, primarily driven by the growing use of the technology in a wide range of industries, particularly petrochemicals, in addition to emerging opportunities from developing markets.

As a device used to measure temperature of any given medium, temperature sensors perform thermal protection and management functions in a multitude of equipment and industrial/mechanical processes. End-use markets for these sensors range from petrochemicals & chemicals, electronics & semiconductors, automotive, power generation, oil & gas to medical and healthcare. Maintenance of optimum temperature is of critical importance in numerous commercial and industrial process activities.

The health, safety and efficient functioning of powerful engines, machinery and industrial equipment together with the safety of personnel

 

 

on the work floor depends upon accurate and continuous temperature measurement and monitoring. In the process industry, for instance, processes such as, fermentation, chemical reaction, crystallization, calcination, combustion, are critically dependent on the right temperature. Boilers, incinerators, heat exchangers and cooling towers require optimum temperature for generating maximum yields at lowest energy costs. Post production, right temperature conditions is also critical in ensuring effective product storage and therefore temperature sensors are also of importance in the refrigeration industry. Temperature sensors are therefore indispensable elements that influence not just plant performance but also quality of the final product.

Europe continues to remain the largest regional market worldwide. Asia-Pacific represents the fastest growing regional market with sales poised to grow at a CAGR of about 9.1% over the analysis period.

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