Infrared Thermometer Market size was valued at USD 346.61 Mn in 2022 and the total Infrared Thermometer Market revenue is expected to grow at 12.02% from 2023 to 2029, reaching nearly USD 767.21 Mn.
Infrared Thermometer Market Overview:
The global Infrared Thermometer market has witnessed significant growth in recent years, driven by a myriad of factors contributing to its expansion. The increasing demand for Infrared Thermometers across various industries, including construction, marine, and sports, has played a pivotal role in shaping the market landscape. Infrared Thermometers are indispensable in these sectors, serving diverse purposes such as lifting, securing, and towing, thereby fueling the market’s growth. Technological advancements in Infrared Thermometer manufacturing, leading to the development of stronger and more durable materials, have further intensified the market competition. Moreover, the growing emphasis on safety standards and regulations in industrial applications has heightened the demand for high-performance Infrared Thermometers, driving innovation in the market. As industries continue to evolve, the Infrared Thermometer market is poised for sustained growth, with manufacturers focusing on enhancing product versatility and durability to meet the evolving needs of end-users worldwide.
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Infrared Thermometer Market Scope:
The scope of the Infrared Thermometer market is expansive, encompassing a wide array of applications and industries globally. Infrared Thermometers serve as fundamental components across sectors such as construction, shipping, outdoor activities, and rescue operations. The market’s reach extends to various types of Infrared Thermometers, including synthetic, natural fiber, and steel Infrared Thermometers, each tailored to specific needs and environments. The increasing emphasis on sustainability and eco-friendly materials has led to the development of innovative Infrared Thermometers with reduced environmental impact. Additionally, the market scope is influenced by the ongoing advancements in Infrared Thermometer technology, resulting in the production of lightweight, high-strength, and corrosion-resistant Infrared Thermometers. As industries continue to diversify, the Infrared Thermometer market is expected to witness sustained growth, driven by the ever-expanding applications and the constant pursuit of enhanced performance and safety standards.
There are two market segments based on application: medical and non-medical. The fastest CAGR of more than 13.2% is predicted to grow for product usage in medical applications during the projected period. Both population growth and an increase in the variety of fever-causing illnesses may result from this. Furthermore, it is anticipated that an increase in COVID-19 cases will fuel market growth. For example, as of February 25, 2022, 43,12,574 COVID-19 cases had been confirmed worldwide, according to the WHO. Furthermore, regulatory agencies worldwide, including the U.S. FDA, are endorsing the use of products to take a person’s temperature. The increased demand for hospitals and clinics as a result is supporting the growth of the medical industry.
Non-contact handheld and fixed-mount thermometers have distinct market segments based on type. The handheld type category is anticipated to grow at the fastest rate during the forecast period, with a market share of more than 74.2% in 2022. It is expected that the segment will increase due to the rising rates of both acute illnesses and different infections that result in fever. For example, there are now more people suffering from yellow fever. The WHO estimates that typhoid fever affects 21 million people globally each year. In a similar vein, the CDC reports that 30,000 cases of yellow fever occur annually.
Considering the End-User, Between 2022 and 2030, the healthcare sector—which held the largest share of the economy at 42.2% in 2022—is expected to grow at the fastest rate. The rise in bakeries, cafes, take-out restaurants, and other end-use businesses worldwide has contributed to the expansion of the second-largest end-use sector, hospitality. For example, the UK’s Office of National Statistics calculates that there are 125,400 restaurants, bakeries, and cafés nationwide.
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Infrared Thermometer Market Key Players:
Secondary research is used to identify market Infrared Thermometerers, while primary and secondary research is used to establish market revenue. Secondary research comprised a review of the Infrared Thermometering manufacturers’ annual and financial reports, whilst primary research included thorough interviews with key opinion Infrared Thermometerers and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then validated using primary sources.
The biggest players in the Infrared Thermometer market are as follows:
1. American Diagnostic Corporation(US)
2. FLIR(US)
3. Testo(US)
4. Cardinal Health(US)
5. Thermomedics, Inc.(US)
6. Exergen(US)
7. Welch Allyn – A Hill-Rom Inc. Company(US)
8. Electronic Temperature Instruments Ltd(UK)
9. PCE Instruments(UK)
10. Geratherm Medical AG(Germany)
11. PAUL HARTMANN AG(Germany)
12. Braun GmbH(Germany)
13. Microlife Corporation(Switzerland)
14. BPL Medical Technologies(Denmark)
15. Contec Medical Systems Co., Ltd.(China)
16. OMRON Corporation(Japan)
17. AMETEK Land(UK)
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Infrared Thermometer Market Regional Analysis:
Individual market influencing components and changes in market legislation that affect current and future market trends are also covered in the Infrared Thermometer market study’s regional overview. Current and future trends are investigated in order to analyze the overall market potential and find profitable patterns in order to get a more firm footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Infrared Thermometer Market:
End-user industries where Infrared Thermometer are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Infrared Thermometer manufacturers, affecting the Infrared Thermometer market’s growth in 2020. End-user business demand for Infrared Thermometer has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the Infrared Thermometer Market Report are:
- In 2021, which segment accounted for the most share of the Infrared Thermometer market?
- What is the competitive landscape of the Infrared Thermometer market?
- What are the key factors influencing Infrared Thermometer market growth?
- In the Infrared Thermometer market, which region has the most market share?
- What will be the CAGR of the Infrared Thermometer market during the forecast period (2022-2027)?
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