Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Resistance Temperature Detector Market size is expected to reach $1.3 billion by 2028, rising at a market growth of 5.6% CAGR during the forecast period.
The Three Wire segment is leading the Global Resistance Temperature Detector Market by Configuration Type in 2021 thereby, achieving a market value of $516 million by 2028. The most prevalent type of RTD construction uses three wires, with two wire connections on one side and one wire linked on the other. This enables a more accurate reading by compensating for the additional resistance induced in the circuit.
The Food Processing segment is showcasing CAGR of 6% during (2022 - 2028). The key investment potential for the expansion of the RTD sensor market is the development of RTD sensor technologies in the food processing industry. Additionally, rising demand for SDP sensors from food processing applications, such as food preservation and food quality and safety by eliminating wastage, is anticipated to fuel development prospects in the market.
The Platinum segment acquired maximum revenue share in the Global Resistance Temperature Detector Market by Material Type in 2021 thereby, achieving a market value of $414.2 million by 2028. Due to its chemical characteristics and temperature stability, platinum is the metal that is most frequently utilized to make RTD elements. Accurate resistance measurement is required when using an RTD sensor to measure temperature which is also a factor rising the demand for resistance temperature detectors made by using platinum.
The North America market dominated the Global Resistance Temperature Detector Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $462.2 million by 2028. The Europe market is exhibiting a CAGR of 5.2% during (2022 - 2028). Additionally, The Asia Pacific market would showcase highest CAGR of 6.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of General Electric (GE) Co., ABB Group, STMicroelectronics N.V., Panasonic Corporation, Emerson Electric Co., Analog Devices, Inc., NXP Semiconductors N.V., Microchip Technology, Inc., Spectris PLC (Omega Engineering), and Kongsberg Group.
By Configuration Type
By Material Type
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