Major players in this Thermocouples and Optical Pyrometers market include Honeywell International Inc. (U.S.), Omega Engineering Inc. (U.S.), Raytek Corp. (U.S.), LumaSense Technologies Inc. (U.S.), ABB Ltd. (Switzerland), Land Instruments Inc. (U.K.),
(PRWEB) October 17, 2014
The report "Thermocouples and High End Optical Pyrometer Market by product Types, Applications (Automotive, Petrochemical, Consumer Utility, Glass, and Aerospace & Defense) and Geography (North America, Europe, APAC, RoW) - Analysis & Forecast to 2010 - 2020", defines and segments the thermocouples and high end optical pyrometer market into various sub-segments with an in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with the insights on trends, opportunities, and challenges.
The thermocouples market is estimated to grow to $1.42 Billion by 2020 at a CAGR of 3.70% and the Optical Pyrometers market is estimated to grow to $238.17 Million by 2020 at a CAGR of 13.81% from 2014 to 2020.
Browse 34 market data tables and 46 figures spread through 160 Slides and in-depth TOC on "Thermocouples and High End Optical Pyrometer Market"
The Thermocouples & High End Optical Pyrometers Market entails a great potential across many application segments. The Thermocouple market is a stable market; however, the potential for Optical Pyrometers is very high in the current situation, due to the continuous automation of the processes in the industries. Due to the increase in the importance of safety, security, and quality issues laid on the manufacturing and other sectors of industry, the Thermocouples and Optical Pyrometers Market is also growing at a very fast pace. The Thermocouples and Optical Pyrometers market is the one that will be the captivating essentials for new entrants as well as winning opportunities for the established players. The report also includes an in-depth analysis of product type, application, and geography.
This report describes the market trends, drivers, and challenges with respect to the Thermocouples and Optical Pyrometers Market and forecasts the market to 2020. This global report gives a detailed view of the market across geographies - North America, Europe, APAC, and RoW. North America and Europe are the largest geography in terms of the Thermocouples and Optical Pyrometers market value. APAC has been identified as the fastest growing region, while the ROW also impetus to the growth. The report profiles 25 promising players in the Thermocouples and Optical Pyrometers market ecosystem.
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The Thermocouples and Optical Pyrometers market is a stable market, derived majorly by the demand in the industrial applications including steel industry, glass industry, and petrochemical industry. The overall trend analysis for both Thermocouple (contact type) and Optical Pyrometers (non-contact type) follow the same pattern across the applications in the forecast period. Nowadays,the industrial applications market which majorly includes steel industry is the biggest consumer of Thermocouples and Optical Pyrometers.Steel industry is the first one which initiated the use of Thermocouples and Optical Pyrometers for its automatic processes and quality assessment.Moreover, with the advancement in the technology of the manufacturing process of glass; the glass industry application accounted as the second largest market in the ecosystem.
On the other hand, petrochemical application is identified as the fastest growing market across the forecast period. This is due to the requirement of Thermocouples and Optical Pyrometers in each and every process of the petrochemical industry such as distillation of crude oil, in condensation process, temperature measurement gas traps, for measurement temperature of liquefied gas, steam drum temperature measurement, and also in tank farms in the refinery.
The competitive landscape of the market presents a very interesting picture, where new product development has become the key growth strategy by the big players of the market. The market is witnessing a large scale collaboration and partnership across the value chain with a number of tier-one players around the globe.
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