A recent report published by
Infinium Global Research on the pyrometer market provides in-depth analysis of
segments and sub-segments in the global as well as regional pyrometer market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional pyrometer market over the short term as
well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of the global pyrometer market. According to the report, the global
market for pyrometers is over USD 300 million in 2020 and is expected to reach
over USD 500 Million by 2026 growing with a CAGR of 6.6% over 2020-2026.
Advanced innovations and modern
digital electronics have revolutionized infrared pyrometers in recent years.
The steel industry has directly benefitted from the introduction of
application-specific infrared pyrometers to produce reliable temperature
readings under demanding mill conditions. Steel facilities need the right tools
to ensure proper optimize of energy usage across their facilities. Thus, the
pyrometer introduced offers the industry’s broadest selection with features
designed specifically for high-temperature steel processing.
The growing importance of
contactless temperature measurement is driving the growth of the pyrometer
market. A pyrometer measures the temperature of the object without any contact
with the object. Furthermore, an industry 4.0 contributing to the growth of the
market. A highly configurable digital architecture and ability to interface
with a variety of customer protocols deliver on the Industry 4.0 promise of
real-time data analysis, remote data collection, and process control. The
manufacturers providing customers with an innovative pyrometer architecture
that is flexible, easy to install and maintain. The pyrometers provide accurate
temperature measurements for a wide variety of process control
applications. These pyrometers conform
to Industry 4.0 standards, combine innovative digital technology and standard
two-wire installation for all setups. However, the high cost of pyrometers is
affecting the growth of the market. Moreover, technological advancement
provides a significant growth opportunity for the pyrometer market. The
Ceramics, Glass, and Metal Processing industry is heavily impacted during the
COVID outbreak. The situation in the steel industry was influenced by the
situation of steel-consuming sectors. Automotive manufacturing, one of the
largest consumers of steel, and has been affected in an effort to the spread of
COVID-19; while falling energy prices have led to much lower demand from
sectors like oil and gas. Large automotive manufacturers such as Toyota, VW,
Volvo, and Nissan, have reduced
production since the COVID pandemic. This drop-in consumption of steel and
other largely affected ends use industries eventually affected the sale of the
pyrometer in short term.
The Asia Pacific holds the largest
market share in the pyrometer market. An increasing temperature sensing demand
among various end-use industries and rising industrialization in different
parts of Asia Pacific driving the growth of the market. furthermore, the growing demand for
industrial automation is also driving the pyrometers market. China, India, the
U.S, Germany, France, and Japan among others are major markets for pyrometers
due to significant economic growth.
The report on global pyrometer
market covers segments such as type, technology, wavelength, and end-user
industry. On the basis of type, the sub-markets include fixed, and handheld. On
the basis of technology, the sub-markets include optical, and infrared. On the
basis of wavelength, the sub-markets include single wavelength, and
multiwavelength. On the basis of end-user industry, the sub-markets include
ceramics, glass, and metal processing.
The report provides profiles of
the companies in the market such as CHINO Corporation, AMETEK Land, Fluke
Corporation, OMEGA Engineering, Optris GmbH, Williamson Corporation,
Sensortherm GmbH, PCE Instruments, DIAS Infrared GmbH, and Micro-Epsilon.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO analysis
of pyrometer market. Moreover, the study highlights current market trends and
provides forecast from 2020-2026. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.