Market Size of Thermistor Temperature Sensor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.50 % |
| Fastest Growing Market | Latin America |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thermistor Temperature Sensor Market Analysis
The thermistor temperature sensor market is expected to register a CAGR of 7.5% over the forecast period (2021 - 2026). The growing trend of automation has been identified as one of the important trends in the industry, with the global consumption of sensors growing at a rapid pace across all the verticals. This is expected to influence the demand for thermistors.
- Temperature sensing has become the largest application market for thermistors in recent years, with thermistors becoming the second-most used temperature sensors in various industries. The market for thermistors is dominated by NTC thermistors and functions with high-volume ceramic semiconductor manufacturing, catering substantially to several subsidized end users, like automotive, military, oil and gas, food, and beverages, and healthcare, among others.
- According to Murata manufacturing co. Ltd 'the thermistor market is dominated by NTC type, which has a share of about 70% and PTC has a share of about 30%.'
- Moreover, with the recent advancements in manufacturing techniques, the shortcomings of conventional NTC and PTC thermistors, like aging, interchangeability, and unreliability, are almost eliminated. Further, the booming demand for portable communication appliances is pushing upwards, the demand of NTC thermistors. Also, with several industrial plants adopting smart motors, PTC thermistors are expected to witness demand spikes, as they act as overcurrent protection for different motors.
- The emerging technologies catering to healthcare industries in major economies and the growing applications, like smart patient monitoring systems, are significant factors driving the growth of the thermistor market over the forecast period. The NTC thermistor probes in the healthcare sector are generally used as resistance thermometers.
- Moreover, with the onset of COVID-19, enterprises can neither export their goods nor import raw materials for production because the majority of materials for the production of electronic components are made in China. Also, electronics companies' partners are cutting about 30-50% of orders in several regions.
