The global resistance temperature detector market revenue was around US$ 993.7 million in 2022 and is estimated to reach US$ 1,716.2 million by 2031, growing at a compound annual growth rate (CAGR) of 6.26% during the forecast period from 2023 to 2031.
A resistance temperature detector (RTD) is a sensor whose prior objective is to decrease or raise impedance proportionally. They are identical to thermometers, which are utilized to detect elements or particles, with the exception that RTDs are made of metal, whereas thermometers are made of polymers or ceramic.
Market Driving Factors
Increasing interest in the Internet of Things (IoT) is estimated to drive the market growth. RTD sensors are becoming more and more in demand as more mobile battery-powered Internet of Things applications are created due to their flexibility and incredibly low power consumption. In addition, the demand for air conditioners with IoT capabilities is also significantly surging the demand for sophisticated RTDs for altering the room and compressor temperature.
Increasing consumer electronics demand as well as expanding temperature sensors is expected to boost the market. This is mainly due to less energy consumption, accuracy, long-term stability, and sensor durability in monitoring temperature. Furthermore, the automotive sector is noticing a rise in demand for sensors for usage in Advanced Driving Assistance Systems (ADAS) to improve the safety of both vehicles and passengers.
Insufficient technological expertise regarding sensors and heating issues will provide difficulties for the market.
Regional Analysis
North America dominates the market in terms of the largest revenue shares. This is mainly due to the prominent businesses and government agencies in the nation heavily financing technology. Furthermore, due to the robust industrial and food processing sectors in this region, especially in chamber applications, where temperature (cold) is generally the only parameter monitored. Thus, this factor propels the market growth. in the region.
Segmentation Insights
Material Insight
The nickel segment dominates the market in terms of the growth rate. The corrosion resistance of nickel resistance temperature detector sensors is suitable, and they are slightly more expensive than platinum. In addition, the temperature of the nickel range is only -80 to +260°C. As a result, these elements are estimated to drive the segment growth.
Configuration Type Insight
The four-wire RTD segment is predicted to dominate the market in terms of the highest revenue. This is mainly due to their characteristics. This segment is the most sophisticated solution, and this is reflected in its cost. They are mostly used in lab environments where high accuracy is required. In addition, this circuit is beneficial because it can correct inaccuracies brought on by longer wire lengths between the measuring element and the measurement electronics.
End Use Industry Insight
The automotive industry segment is estimated to dominate the market in terms of revenue share during the forecast period. This is primarily owing to the emergence of the sharing economy and unique alliances with disruptive tech companies. Moreover, the temperature of the gases and liquids in a vehicle is sensed by the RTD sensors assembled into the automobile.
Prominent Companies
Segmentation Outline
The global resistance temperature detector market segmentation focuses on the Material, Configuration Type, End Use Industry, and Region.
By Material
By Configuration Type
By End Use Industry
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL RESISTANCE TEMPERATURE DETECTOR MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: RESISTANCE TEMPERATURE DETECTOR MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL RESISTANCE TEMPERATURE DETECTOR MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL RESISTANCE TEMPERATURE DETECTOR MARKET, BY MATERIAL
5.1 OVERVIEW
5.2 PLATINUM
5.3 NICKEL
5.4 COPPER
5.5 OTHERS
6 GLOBAL RESISTANCE TEMPERATURE DETECTOR MARKET, BY CONFIGURATION TYPE
6.1 OVERVIEW
6.2 TWO WIRE RTD SENSORS
6.3 THREE WIRE RTD SENSORS
6.4 FOUR WIRE RTD SENSORS
7 GLOBAL RESISTANCE TEMPERATURE DETECTOR MARKET, BY END USE INDUSTRY
7.1 OVERVIEW
7.2 FOOD PROCESSING INDUSTRY
7.3 AUTOMOTIVE INDUSTRY
7.4 CHEMICAL INDUSTRY
7.5 CONSUMER ELECTRONICS
7.6 OTHERS
8 GLOBAL RESISTANCE TEMPERATURE DETECTOR MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL RESISTANCE TEMPERATURE DETECTOR MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 PANASONIC CORPORATION
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 STMICROELECTRONICS
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 MICROCHIP TECHNOLOGY INC
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 GENERAL ELECTRICS
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 OMEGA ENGINEERING
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 KONGSBERG GRUPPEN
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 NXP SEMICONDUCTORS N.V.
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 EMERSONS ELECTRIC
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 ABB LTD
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 ANALOG DEVICES INC.
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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