What is Global Digital Temperature Gauge Market?
The Global Digital Temperature Gauge Market is a vast and dynamic sector that encompasses a wide range of devices used to measure temperature digitally. These devices are designed to provide accurate, real-time temperature readings, making them essential tools in various industries worldwide. The market's value was estimated at US$ 491.9 million in 2023, and it is projected to reach US$ 658.3 million by 2030, growing at a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2024 to 2030. This growth is driven by the increasing demand for these devices in various sectors, including industrial, residential, and healthcare.
Bimetal Temperature Gauge, Gas-Actuated Temperature Gauge in the Global Digital Temperature Gauge Market:
The Global Digital Temperature Gauge Market includes different types of temperature gauges, such as Bimetal Temperature Gauge and Gas-Actuated Temperature Gauge. The Bimetal Temperature Gauge is a device that uses a bimetallic strip to measure temperature. This strip is made up of two different metals that expand at different rates as they heat up. On the other hand, the Gas-Actuated Temperature Gauge uses the principle of gas expansion to measure temperature. When the gas inside the bulb heats up, it expands and moves the needle on the gauge to indicate the temperature. These devices are widely used in various industries due to their accuracy and reliability.
Industrial, Residential, Healthcare in the Global Digital Temperature Gauge Market:
The Global Digital Temperature Gauge Market finds its application in various sectors, including industrial, residential, and healthcare. In the industrial sector, these devices are used to monitor and control the temperature of various processes to ensure their efficiency and safety. In the residential sector, they are used in HVAC systems to maintain a comfortable indoor temperature. In the healthcare sector, these devices are used to monitor the temperature of patients and to control the temperature of various medical equipment and storage facilities. The increasing demand for these devices in these sectors is driving the growth of the market.
Global Digital Temperature Gauge Market Outlook:
The market outlook for the Global Digital Temperature Gauge Market is positive, with significant growth expected in the coming years. In 2019, Ashcroft (Nagano Keiki) held the largest share of the market, accounting for 14.08% of the global digital temperature gauge revenue. Other key players in the market, including Ametek, WIKA, and Dwyer Instruments, accounted for 12.78%, 8.16%, and 6.38% of the market share, respectively. The market's growth is driven by the increasing demand for these devices in various sectors, including industrial, residential, and healthcare.
| Report Metric | Details |
| Report Name | Digital Temperature Gauge Market |
| Accounted market size in 2023 | US$ 491.9 million |
| Forecasted market size in 2030 | US$ 658.3 million |
| CAGR | 4.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Ashcroft (Nagano Keiki), Ametek, WIKA, Dwyer Instruments, Watts Water Technologies, OMEGA Engineering, Omron, Fluke Corporation, Tel-Tru, REOTEMP Instruments, Anderson-Negele, Winters Instruments, Brannan, Hangzhou Hangwen Instruments, Dpstar Group, Acez Instruments |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
