Pyrometer Market Demand, Development and Restraint Analysis by 2018-2023

 Pankaj Sayaji
  3rd-Jan-2019
 729

The Pyrometer Market is expected to grow from USD 542.4 million in 2017 to USD 815.9 million by 2023, at a CAGR of 7.0% between 2017 and 2023. Increasing demand for robust temperature measurement devices in industries and increasing automation in the industrial sector are the major factors driving the growth of the pyrometer market. Growing forging industry in developing economies and technological advancement creates opportunities for this market.

pyrometer-market.jpg

The market for handheld pyrometers is expected to grow at the highest CAGR during the forecast period. Handheld pyrometers are ideally suited for mobile temperature measurement for processes such as maintenance, diagnostics, and quality control in industries such as metal processing, ceramics, and power. Growing metal processing expected to create significant opportunities for handheld pyrometers in the near future.

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The market for IR pyrometers is expected to grow at the highest CAGR during the forecast period. This dominance of the IR pyrometer is mainly attributed to its high sensitivity in high temperature applications, which make it suitable for end-use industries to detect high temperature with more accuracy.

The pyrometer market for the metal processing industry is expected to grow at the highest CAGR during the forecast period. Increasing demand for high-end pyrometers in the forging process is expected to drive the growth of the pyrometer market for the metal processing industry.

The pyrometer market has been segmented on the basis of geography into North America, Europe, APAC, and RoW. The market in the Europe is expected to grow at the highest CAGR between 2017 and 2023. The higher growth rate in the region is mainly attributed to technological advancements in temperature monitoring devices and the presence of a large number of steel producers in the region.

Contactless temperature measurement is a very complex process. However, it is necessary to use contactless temperature measurement devices because of the high temperature and harsh environmental conditions in some industries such as metal processing and glass manufacturing. In these industries, introduction of new methods, sensors, and integration of multiple sensors and electronics into a single device may resolve many issues, which cannot be resolved by the traditional pyrometers. Therefore, prominent pyrometer manufacturers can leverage the opportunity to increase their market share by ramping up research and development (R&D) activities and introducing new and advanced pyrometers in the market.

Major players in the pyrometer market include Land Instruments International (UK), Advanced Energy Industries (US), Accurate Sensors Technologies (Israel), Proxitron (Germany), PCE Instruments (Germany), LumaSense Technologies (US), Optris (Germany), AOIP (France), Optron (Germany), BARTEC (Germany), CHINO CORPORATION (Japan) Calex Electronics (UK), Micro-Epsilon (Germany), B+B Thermo-Technik (Germany), OPTEX CO. (Japan), OMEGA Engineering (UK), and Fluke Process Instruments (US).

Key Target Audience:

  • Component manufacturers and distributors
  • Pyrometer providers
  • Pyrometer distributors
  • Pyrometer manufacturers
  • End users (Glass, Ceramics, Metal Process, and other industries)
  • Analysts and strategic business planners
  • Research organizations
  • Associations, organizations, and alliances related to pyrometers

“This study answers several questions for the stakeholders, primarily which market segments to focus on in the next 2–5 years for prioritizing efforts and investments.”

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Domain: Electronics
Category: Semiconductors
Posted By: Pankaj Sayaji and Contact Pankaj Sayaji
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