Resistance Temperature Detector Market By Material (Platinum, Nickel, Copper, Others), By Configuration Type (Two Wire RTD Sensors, Three Wire RTD Sensors, Four Wire RTD Sensors), By End Use Industry (Food Processing industry, Automotive industry, Chemical industry, Consumer Electronics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The resistance temperature detector sensor market was valued at $935.1 million in 2021, and is projected to reach $1706.5 million by 2031, registering a CAGR of 6.2% from 2022 to 2031. A Resistance Temperature Detector (also known as a Resistance Thermometer or RTD) is an electronic device that measures the resistance of an electrical wire to determine the temperature.
The growth of the resistance temperature detector market is majorly driven by the advanced temperature monitoring system in EV is amplifying demand for RTD sensors coupled with mounting heating cable demand, backed by advancing urbanization to boost demand from OEM. Furthermore, ascending investment towards growth of Oil & Gas pipelines to facilitate the growth of market is anticipated to drive the market growth. However, rising tension between China and other developing as well as developed economies and availability of large number of substitutes to restrain growth of RTD sensor market are acting as some of the prime restraint of the market. In addition, government compliances and regulatory landscape is expected to restrain the market growth in coming years. On the contrary, remote RTD sensor coupled with customization factor to open up numerous markets is anticipated to provide lucrative opportunities for the expansion of the resistance temperature detector market during the forecast period.
The resistance temperature detector sensor market is segmented by material, configuration type, end use industry, and region. On the basis of material, the market is divided into platinum, nickel, copper, and others. Based on configuration type, the market is segmented into two wire RTD sensors, three wire RTD sensors, and four wire RTD sensors. On the basis of end use industry, the market is bifurcated into food processing industry, automotive industry, chemical industry, consumer electronics, and others. Region-wise, the resistance temperature detector sensor market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of the Europe), Asia-Pacific (China, India, Japan, South Korea, and the rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the market include ABB Ltd., Analog Devices, Emerson Electric Co., General Electric, Kongsberg GRUPEEN, Microchip Technology Inc., NXP Semiconductor N.V., Omega Engineering, Panasonic Holding Corporation, and STMicroelectronics.
KEY BENEFITS FOR STAKEHOLDERS
This study comprises analytical depiction of the resistance temperature detector sensor market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall Resistance Temperature Detector Market Analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to Resistance Temperature Detector Market Opportunity, drivers and restraints with a detailed impact analysis on Resistance Temperature Detector Market Growth.
The Resistance Temperature Detector Market Forecastis quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
The Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the RTD Sensor.
The report includes the share of key vendors and Resistance Temperature Detector Market Trends.
Key Market Segments
By Configuration Type
Two Wire RTD Sensors
Three Wire RTD Sensors
Four Wire RTD Sensors
By End Use Industry
Food Processing industry
Rest of Europe
Rest Of Asia Pacific
Key Market Players
Analog Devices Inc.
NXP Semiconductors N.V.
Microchip Technology Inc.
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