Global Cryogenic Temperature Sensors Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Cryogenic Temperature Sensors Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Cryogenic Temperature Sensors are temperature sensors that can measure low temperatures. They are used in cryogenic applications, such as in the refrigeration and freezing of food, medical equipment, and laboratory specimens. Cryogenic Temperature Sensors are designed to be able to measure temperatures as low as -200°C (-328°F). These sensors are usually made of stainless steel, and they are designed to be able to withstand extreme temperatures.

Market Overview:

The latest research study on the global Cryogenic Temperature Sensors market finds that the global Cryogenic Temperature Sensors market reached a value of USD 102.53 million in 2023. It’s expected that the market will achieve USD 161.1 million by 2029, exhibiting a CAGR of 7.82% during the forecast period.

The raw materials needed to manufacture cryogenic temperature sensors include platinum, nickel, copper, germanium, rhodium iron, cobalt, etc. The Russo-Ukrainian war wreaked havoc on global metals markets. The first is that metal production and transportation have been severely affected, which has reduced the metal supply. As supplies of these metals dwindle, demand remains flat, causing metal prices to rise. Russia is the world's second largest producer of platinum after South Africa. Global sanctions on Russia disrupt platinum production, leading to sharp price increases in 2022. Nickel is a key metal for industry, and the military, and an important raw material for electric vehicle batteries. Rising input prices are hampering electric vehicle manufacturing plans globally. Rising metal prices have knock-on effects on other industries, from construction to autos. This leads to an overall increase in the cost of goods and services. The Russia-Ukraine war led to economic sanctions imposed by the United States and the European Union. These sanctions have affected international trade, further adding to uncertainty in metals markets. This uncertainty causes investors to hesitate and delay investment decisions. Companies have been forced to reassess their supply chains due to the ongoing war, which has resulted in Ukraine and Russia no longer being major sources of the metal. This has resulted in changes in the way metals markets operate and shifts in market dynamics. Overall, the Russo-Ukrainian war wreaked havoc on global metals markets, between Western sanctions, Russia's massive export ban, and wild price swings from all the uncertainty.

Advantages of cryogenic temperature sensors

Cold storage and transportation can be a dangerous business, and temperature control is critical to ensure safe operation. Common cryogenic temperature sensors include resistors, capacitors, thermocouples, and semiconductor junction devices such as diodes or transistors. Extreme temperature ranges too low or too high will damage most sensors. The instrument the sensor is connected to is very important. Instrument range and resolution may be limited by temperature range. Sensors all have a separate set of properties such as temperature range, accuracy and resolution, magnetoelasticity, radiation elasticity, and packaging options. Depending on the sensor type, different packages are available, such as specially designed bare die, bolt-on, and embedded packages. Cryogenic temperature sensors are interchangeable (they follow a standard curve), are simple and cost-effective in design, and exhibit an accurate, repeatable, monotonic temperature response over a wide range. These components are housed in rugged hermetic packages designed for proper operation in low temperature environments. Different sensors have different sensitivities at different temperatures. Platinum sensors are limited in design, cost-effective, and require only simple instrumentation. They are widely used in liquid nitrogen or higher temperature applications. Silicon diodes are easy to install and inexpensive and can be used in a variety of cryogenic applications such as cryocoolers, laboratory cryogenics, cryogenic gas production, and space satellites. Silicon diodes are considered the workhorse of the cryogenic industry due to their wide temperature range from 1.5K to 450K and the variety of applications they support. Ruthenium oxide sensors are available for 50 mK and below. Their unrivaled advantages are low reluctance and standard curves for applications requiring magnetic field standard curves, such as MRI systems. Apart from germanium, they are the only cryogenic temperature sensors usable below 100 mK. Therefore, highly stable cryogenic sensors ensure safety and reliability in cryogenic applications. As the advantages of low temperature sensors continue to be known, the demand for low temperature sensors in the downstream market continues to increase.

Industrial automation trend strengthens

Advances in industrial automation have increased productivity, reduced costs, and optimized processes. The growing adoption of IoT, rising healthcare spending, increasing agricultural demand, and increasing air passenger traffic will drive the growth of industrial automation. Cryogenic temperature sensors are used in various fields such as aerospace, liquefied gas, medical, food, and semiconductor equipment.

The aerospace industry uses cryogenic applications extensively. For example, cryogenic gas is used as fuel and liquid helium is used to cool the probes so they can make high-precision measurements in space. Cryogenic sensors offer several advantages in aerospace applications, including reliable and real-time information in extreme environments; fast response due to low thermal mass; precise cooling; accurate direct immersion readings through thermocouple/RTD combinations; vibration; reliable fiber optic option in high voltage, EMI environments. Aviation cryogenic temperature sensors feature an ultra-lightweight design, low power consumption, and a reliable heating element that provides superior anti-icing performance in the harshest environmental conditions. Their probes are usually made of stainless steel and sealed, designed for use in the most extreme environments. Tightly wound platinum resistance wire provides excellent vibration resistance. Scientific Instruments, for example, supports numerous space programs and related applications that require temperature monitoring for cryogenic fuel management, including storage, transport, and launch vehicles.

Sensors are necessary when handling liquefied gases such as liquid nitrogen, liquefied hydrogen, and liquid helium at cryogenic temperatures. Although the sensors are only a small part of the overall gas storage installation, without them the risk of reacting to adverse temperature rises slowly and leading to serious accidents increases. Most cryogenic gas users have a large tank on site to store the liquid with optimal insulation. The tank refills as needed and provides an adequate supply of liquefied gas for cryogenic applications. Accurate measurements are critical to controlling the temperature of stratified gases. Inside the tank, sensors are used to monitor the temperature, while sensors placed in the tank insulation are used to detect leaks. Many liquid cryogens (particularly liquid nitrogen) are produced and shipped with platinum sensors as the sensor of choice for temperature monitoring. Their bolt-on packaging options and interchangeability options allow multiple sensors to be used with a single temperature profile for easier implementation and maintenance.

Cryogenic temperature sensors are important tools for pharmaceutical and healthcare professionals, food manufacturers, and distributors. Cold chain monitoring and ultra-low temperature storage of biological products and vaccines in the pharmaceutical and health fields are becoming more and more important. They all require resilient, reliable, and proactive monitoring during the cold chain. With population growth, accelerated pace of life, and increased number of diseases, the demand for portable healthcare devices will continue to grow in the future. Ongoing technological innovations in healthcare will drive the cryogenic temperature sensor market.

Of the process variables primarily measured in the food industry, temperature is perhaps the most important. Not only is the temperature a critical variable during drying or fermentation, but it is often the critical killing step required to ensure a food or beverage is safe to consume. Automated temperature control and monitoring help ensure food safety during food processing, storage, and food transportation. Companies also offer sensors specifically designed to measure the stringent High Temperature Short Time Test (HTST) requirements of pasteurization. For example, Peak Sensors Ltd. supplies these sensors and related equipment to the food, beverage, and catering industry for precise temperature measurement. It offers data loggers consisting of these sensors for monitoring refrigerated transport or freezers.

The use of on-wafer superconducting materials, other novel materials, and traditional semiconductors at low temperatures (below about 123K or -150°C) has increased significantly in recent years. Diodes are semiconductor based temperature sensors, typically have a wide temperature range and good sensitivity and are robust and easy to use. Overall, the market for cryogenic temperature sensors is booming due to their wide application across multiple industrial sectors.

Region Overview:

In 2022, the share of the Cryogenic Temperature Sensors market in North America stood at 45.59%.

Company Overview:

The major players operating in the Cryogenic Temperature Sensors market include Lake Shore Cryotronics, OMEGA, Amphenol Corporation, YAGEO Nexensos, Scientific Instruments, etc. Among which, Lake Shore Cryotronics ranked top in terms of sales and revenue in 2023.

In electronics, clean energy, nanotechnology, and many other applications, Lake Shore provides the products and systems needed for precise measurements over a broad range of temperature and magnetic field conditions.

Serving the needs of the research community since 1968 Lake Shore has grown its product solutions to keep pace with evolving interests in scientific exploration, from the physics lab to deep space.

Segmentation Overview:

By type, Silicon Diodes segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Private Sector segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Cryogenic Temperature Sensors market covered in Chapter 3:

Amphenol Corporation
Cryomagnetics
OMEGA
CORREGE
Temati
Beijing Jinzhengmao Technology Co., Ltd
Lake Shore Cryotronics
Scientific Instruments
YAGEO Nexensos
Thermometrics Corp.

In Chapter 4 and Chapter 14.2, on the basis of types, the Cryogenic Temperature Sensors market from 2019 to 2030 is primarily split into:

Silicon Diodes
Thermocouples
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Cryogenic Temperature Sensors market from 2019 to 2030 covers:

Private Sector
Government
Academic

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)