Europe Temperature Sensors Market Size (2024 - 2029)

The Europe temperature sensor market is experiencing growth driven by its increasing application in sectors such as healthcare, automotive, oil, and gas. The automotive industry, particularly with the rise of electric and hybrid vehicles, is a significant contributor to this expansion, supported by governmental initiatives promoting electric vehicle technologies. Additionally, military expenditures in countries like France are boosting the demand for temperature sensors in defense applications. Germany's post-COVID-19 stimulus package further emphasizes infrastructure and electric vehicle market development, contributing to the market's expansion.

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Market Size of Europe Temperature Sensors Industry

Europe Temperature Sensors Marke
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

Europe Temperature Sensors Market Major Players

*Disclaimer: Major Players sorted in no particular order

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 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.

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Europe Temperature Sensors Market Size Summary

The Europe temperature sensor market is experiencing robust growth, driven by increased adoption across various sectors such as healthcare, automotive, oil, and gas. The automotive industry, particularly the shift towards electric and hybrid vehicles, is a significant contributor to this growth. Government initiatives supporting electric vehicle adoption further bolster the demand for temperature sensors. Additionally, the military sector in France is seeing increased expenditure, which is expected to enhance the use of temperature sensors. The region's focus on infrastructure development and electric vehicle incentives, especially in Germany, also plays a crucial role in expanding the market.

The market landscape is characterized by significant activity, with numerous startups and partnerships enhancing the technological capabilities and applications of temperature sensors. Companies like Silixa in the UK and MIOS and CA PYROCONTROLE in France are leading innovations in sensor technologies for the oil and gas and refining industries, respectively. Spain's Kintech Engineering is expanding its market presence through contracts for solar monitoring stations. The competitive environment is marked by major players like Siemens AG, ABB LIMITED, and STMICROELECTRONICS NV, who are leveraging innovative solutions to secure new contracts and enter new markets. These developments underscore the dynamic nature of the Europe temperature sensor market, poised for continued expansion.

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Europe Temperature Sensors Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Assessment of the Impact of COVID-19 on the Industry

    3. 1.3 Market Drivers

      1. 1.3.1 Growth in Industry 4.0 & Rapid Factory Automation

      2. 1.3.2 Increasing Demand for Wearable in Consumer Electronics

    4. 1.4 Market Restraints

      1. 1.4.1 Fluctuation in Raw Material Prices

    5. 1.5 Industry Value Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Buyers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Wired

      2. 2.1.2 Wireless

    2. 2.2 Technology

      1. 2.2.1 Infrared

      2. 2.2.2 Thermocouple

      3. 2.2.3 Resistance Temperature Detector

      4. 2.2.4 Thermistor

      5. 2.2.5 Temperature Transmitter

      6. 2.2.6 Fiber Optic

      7. 2.2.7 Others

    3. 2.3 End-user Industry

      1. 2.3.1 Chemical & Petrochemical

      2. 2.3.2 Oil & Gas

      3. 2.3.3 Metal & Mining

      4. 2.3.4 Power Generation

      5. 2.3.5 Food & Beverage

      6. 2.3.6 Automotive

      7. 2.3.7 Medical

      8. 2.3.8 Aerospace & Military

      9. 2.3.9 Consumer Electronics

      10. 2.3.10 Other End-user Industries

    4. 2.4 Country

      1. 2.4.1 United Kingdom

      2. 2.4.2 Germany

      3. 2.4.3 France

      4. 2.4.4 Rest of Europe

Europe Temperature Sensors Market Size FAQs

The Europe Temperature Sensors Market is projected to register a CAGR of 6.70% during the forecast period (2024-2029)

Siemens AG , ABB LIMITED , STMICROELECTRONICS NV , NXP Semiconductors NV and ROBERT BOSCH GMBH are the major companies operating in the Europe Temperature Sensors Market.

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