The Asia Pacific Thermocouple temperature sensor market was valued at $XX million in 2018 and is projected to reach $XX million by 2027 at a CAGR of 6.01% from 2019 to 2027.
Consumer electronics is the greatest contributor to the regional market of Asia Pacific. With an increase in consumer purchasing power, the high adoption of smartphones, and growing awareness of wearables will raise the demand for temperature sensors in APAC during the forecast period. In addition, APAC is one of the largest markets for refineries and petrochemicals, which will also boost the demand for temperature sensors. A large number of the world’s largest oil refineries are established in this region.
The economies of China, India, Japan, South Korea, Australia and the Rest of APAC are the major contributors by revenue to the market for thermocouple temperature sensors in the APAC region.
TE Connectivity, STMicroelectronics, NXP Semiconductors N.V., Keyence Corporation, Microchip Technology Inc., Bosch Sensortec, Maxim Integrated Products Inc., Texas Instruments, Danfoss A/S, and Honeywell International Inc. are the major market players operating in the market.