Bimetallic Temperature Sensor Market - Influential Factors Determining the Trajectory of the Market
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Increasing demand for temperature sensors in different industries which includes oil and gas, mining, metal, chemical processing and automotive is stimulating the market for bimetallic temperature sensors globally. Moreover, increasing application of temperature in household appliances and growing advancement in the field of consumer electronics is also contributing in the positive development of the bimetallic temperature sensors market. Domestic water and steam based central heating systems have bi-metallic strip thermostats, which is also influencing the market in a positive way. Growing usage of temperature sensing devices in research and development activities is also boosting the market for bimetallic temperature sensors globally. Increasing technological advancement in the medical and food and chemical and food processing and industrial sector is also acting as major driving factors for the market globally. Shorter lifecycle bimetallic temperature sensors one of the prime restraints and may inhibit the growth of the market over the forecast period. Increasing research and development activities and with the increasing application of bimetallic temperature sensors in hybrid vehicles are some of the major opportunities for the market.
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In 2016, North America is leading the market for bimetallic temperature sensor in terms of revenue, followed by Europe and Asia Pacific globally. With the technological advancement in the field of healthcare and other industries are fueling the market across North America. The U.S. accounted largest share in terms revenue across North America. Germany, the U.K., Italy and France are holding prominent positions in the bimetallic temperature sensor market across Europe. China is leading the market across Asia Pacific, followed by Japan and India. Increasing number of semiconductor devices manufacturing hubs and increasing proliferation of different sort of advanced consumer and household appliances is fuelling the market across Asia Pacific. The U.A.E, South Africa, Brazil and Argentina among others are dominating the market for bimetallic temperature sensors across Middle East and Africa and South America.
Strategic alliances with the distributers and suppliers along with other firms are one of the major business strategy adopted by the companies for better presence in the bimetallic market. Establishing new research facilities and increasing number of offices across different countries, geographical expansion is another major strategy adopted by the companies. Analog Devices, Inc. (The U.S.), Maxim Integrated Products Inc. (The U.S.), Panasonic Corporation (Japan), Texas Instruments Incorporated (The U.S.), ABB Group (Switzerland), Honeywell International Inc. (The U.S.), Danaher Corporation (The U.S.), Siemens AG (Germany), Kongsberg Gruppen (Norway), TE Connectivity Ltd. (Switzerland), Emerson Electric Company (The U.S.), General Electric (The U.S.), ON Semiconductor (The U.S.), Stmicroelectronics (Switzerland), Microchip Technology Incorporated (The U.,S.), Infineon Technologies AG (Germany) and NXP Semiconductors N.V. (The Netherlands) among others are some of the major companies operating in the bimetallic temperature sensor market globally.
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