Pyrometer Market by Type (Fixed Type, Handheld Type), Technology (Optical, Infrared), End-use Vertical (Glass Industry, Ceramic Industry, Metal Processing Industry), and Geography (North America, Europe, Asia Pacific, RoW) - Global forecast to 2023
Pyrometer market expected to grow at a CAGR of 7.0% between 2017 and 2023
The pyrometer market was valued at USD 542.4 million in 2017 and is expected to reach USD 815.9 million by 2023, at a CAGR of 7.0% between 2017 and 2023. The increasing demand for robust temperature measurement devices in critical industries and increasing automation in the industrial sector are the major drivers for the pyrometer market growth, while varying emissivity of the object or surface restrains the growth of the pyrometer market.
Pyrometer market for metal processing industry expected to grow at the highest CAGR during the forecast period
Increasing automation in the metal processing industry driving the growth of the pyrometer market in this industry. Pyrometers are used in the metal processing industry to measure temperatures at different stages of various processes such as forging, rolling, extrusion, and die forming. Moreover, the increasing use of pyrometers for reducing machinery damages and downtime expected to create significant opportunities for the pyrometer providers.
Market for IR pyrometers expected to grow at the highest CAGR during the forecast period
The infrared (IR) pyrometer measures temperature of the object or surface from the radiation emitted by the object or surface. The sensitivity of IR pyrometer is high, which makes it suitable for end-user industries to detect high temperature with more accuracy; these pyrometers can be used in hazardous environmental conditions in various industries such as metal processing, glass, ceramics, food, and paper. Moreover, technological advancement in industrial sector helping pyrometer market to grow significantly.
Pyrometer market in Europe expected to grow at highest CAGR during forecast period
The pyrometer market in Europe is expected to grow at the highest CAGR between 2017 and 2023. Europe is expected to witness rapid growth in the pyrometer market in the near future owing to technological advancement and growing automation in the industrial sector. Moreover, the presence of significant number of steel producers helps the market to grow in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profiles of primary participants has been given below:
• By Company Type: Tier 1—20%, Tier 2—55%, and Tier 3—25%
• By Designation: C-Level Executives—50%, Directors—25%, and Others—25%
• By Region: North America—35%, Europe—40%, APAC—20%, and RoW—5%
Major players in the pyrometer market are 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).
The report defines, describes, and forecasts the pyrometer market based on technology, type, industry, and geography. It provides detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the pyrometer market. It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, and product launches carried out by the key players to grow in the market.
Reasons to Buy the Report:
• Illustrative segmentation, analysis, and forecast pertaining to the pyrometer market based on technology, type, industry, and geography have been conducted to provide an overall view of the pyrometer market.
• Major drivers, restraints, opportunities, and challenges affecting the pyrometer market growth have been detailed in this report.
• A detailed competitive landscape of the key players in the market, along with their revenues, has been included.