Global Temperature Transmitters Market to Reach $4.1 Billion by 2030
The global market for Temperature Transmitters estimated at US$3.3 Billion in the year 2023, is expected to reach US$4.1 Billion by 2030, growing at a CAGR of 3% over the analysis period 2023-2030. Resistance Temperature Detector (RTD) Sensing, one of the segments analyzed in the report, is expected to record a 3% CAGR and reach US$1.8 Billion by the end of the analysis period. Growth in the Thermocouple Sensing segment is estimated at 3.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $876.1 Million, While China is Forecast to Grow at 5.3% CAGR
The Temperature Transmitters market in the U.S. is estimated at US$876.1 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$883 Million by the year 2030 trailing a CAGR of 5.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.9% and 2.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$592.5 Million by the year 2030.
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