Temperature and Humidity Transmitters Market Worth $4.94 Billion by 2022
Application of humidity transmitters is expected to grow in various industries including HVAC
PUNE, India — The global temperature transmitter market is expected to reach $3.58 billion by 2022, at a compound annual growth rate (CAGR) of 4.19 percent from 2016 to 2022, while the global humidity transmitter market is expected to reach $1.36 billion by 2022, at a CAGR of 1.84 percent from 2016 to 2022, according to a new report from MarketsandMarkets.
Growing automation across industries for optimizing resources and improving cost, safety, and security is driving the growth of the temperature transmitter market. The deployment of temperature transmitters is expected to grow in industries such as power, chemical, pharmaceutical, and metal and mining. Humidity measurement in industries is critical as it may affect the total cost of the product as well as the health and safety of personnel. The application of humidity transmitters is expected to grow in various industries such as HVAC and building automation, food and beverage, textile, pulp and paper, and pharmaceutical.
The market for the thermocouple sensing type of temperature transmitter is expected to grow at the highest rate owing to its cost effectiveness, ruggedness, measurement speed, and range of temperatures that it can measure. The market for the capacitive type of humidity transmitter is expected to grow at the highest rate during the forecast period. Capacitive sensing technology is widely used in industrial, commercial, and meteorological applications. This sensing technology is capable of operating accurately down to 0 percent relative humidity (rh).
Asia-Pacific is expected to grow at the highest CAGR in both the temperature transmitter and humidity transmitter markets during the forecast period owing to the demand from energy capacity expansion, new project commissioning, and demand for industrial automation to increase productivity while optimizing costs. The growing demand for HVAC systems in residential and commercial projects in the Asia-Pacific region is driving the market for humidity transmitters.
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Publication date: 2/24/2016