Resistance Temperature Detector Market Trends 2031

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Resistance Temperature Detector Market
A resistance temperature detector is an enhanced
temperature sensing solution made of metal,
characteristically platinum. The RTD is offered
as a length of thin wire wrapped around a ceramic
or glass core composed of platinum nickel or
copper. The resistance temperature detector
sensor makes use of the wire's temperature/resista
nce connection to measure the temperature. In
addition, the rise in growth in electronic
vehicle solutions is significantly boosting the
growth of the resistance temperature detector
market.
Ankit Gupta - Lead Analyst Semiconductor and
Electronics at Allied Market Research
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Resistance Temperature Detector Market
According to a new report published by Allied
Market Research, titled, 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 market size was 935.16 million in 2021,
and is estimated to reach 1.7 billion by 2031,
growing at a CAGR of 6.26 from 2022 to 2031.
The growth of the resistance temperature
detector industry is majorly driven by the
advanced temperature monitoring system in EV is
amplifying demand for resistance temperature
device 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 resistance temperature detector
market trends.
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Resistance Temperature Detector Market
In addition, government compliances and
regulatory landscape is expected to restrain the
market growth in coming years. On the contrary,
remote resistance temperature 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. According to resistance temperature
detector market analysis, the three wire RTD
sensors segment was the highest contributor in
2020, due to surge in adoption of resistance
temperature detector sensor solution across
automotive sectors. The platinum and nickel
segments collectively accounted for around 70.9
Resistance Temperature Detector Market Share in
2021.
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Resistance Temperature Detector Market
KEY FINDINGS OF THE STUDY In 2021, the platinum
segment accounted for maximum revenue, and is
projected to grow at a notable CAGR of 7.2
during the forecast period. The platinum and
nickel segments together accounted for largest
market share of the resistance temperature
detector sensor market trends in 2021. The
consumer electronics segment is projected to
growth at a CAGR of 7.6 during the forecast
period. North America contributed for the major
share in the resistance temperature detector
sensor market, accounting for more than 40 share
in 2021.
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Resistance Temperature Detector Market
Major Companies The key players profiled in the
report 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.
Market players have adopted various strategies,
such as product launch, collaboration
partnership, joint venture, and acquisition to
expand their foothold in the resistance
temperature detector sensor market.
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Resistance Temperature Detector Market
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