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:
Technological advancements and changing industrial demands are driving a dynamic shift in the infrared thermometer market. The industry's growing emphasis on improving metal attributes like durability, corrosion resistance, and aesthetics is largely due to the importance of the Infrared Thermometer industry. Leading companies in the market are always coming up with new ideas to create state-of-the-art surface treatment solutions that not only satisfy strict industry requirements but also take environmental concerns into account. New methods for using infrared thermometers that reduce the use of dangerous materials have been developed as a result of the increased focus on environmentally friendly and sustainable practices. This shift in the market is indicative of a larger industry commitment to finding a balance in metal finishing processes between longevity, performance, and environmental responsibility.
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Infrared Thermometer Market Scope:
The market for infrared thermometers is growing as more and more industries realize how important surface treatments are to improving the functionality and durability of metal parts. Advanced metal finishing solutions are seeing a boom in demand from a variety of industries, including automotive, aerospace, electronics, and construction. The demand for better conductivity, corrosion resistance, and aesthetic appeal is driving the expansion of the infrared thermometer industry. Furthermore, the introduction of novel technologies and procedures is expanding the horizon by providing customized solutions to satisfy the various demands of various industries.The infrared thermometer market is expected to grow due to improvements in materials science and rising consumer awareness of the advantages of premium surface treatments, as manufacturers look to streamline their operations and satisfy exacting quality requirements.
Infrared Thermometer Market Segmentation:
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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