DUBLIN--(BUSINESS WIRE)--The "Global Pyrometer Market - Forecasts 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global pyrometer market is projected to witness a CAGR of 5.20% during the forecast period to reach US$742.707 million by 2025, increasing from US$547.843 million in 2019.
The demand for industrial automation is driving the pyrometer market. This is about the expansion of glass, ceramic industry as well as metal processing industry. The ability to measure temperatures in a precise manner and the ability to operate in a harsh environment is one of the key factors that is driving the pyrometer market. In the case of metal processing, the various stages that are involved like die forming, extrusion, forging as well as rolling requires the measurement of temperatures at different stages.
Further, the use of pyrometers acts as a preventive measure to reduce the downtime of machinery and equipment that creates more economic opportunities for businesses. Further, the metal processing industry caters to a wide variety of industries like aerospace and defense, agriculture, automotive, construction, electronics/electrical components, general consumer markets, industrial equipment, mining and oil, and gas. All these industries are poised to witness growth across the globe during the forecast period. Further, metal fabrication and processing are bound to witness a surge due to the rise in housing starts by 3.2 % in 2019 as compared to that of the year 2018 (Source: U.S. Census Bureau and the Department of Housing and Urban Development).
The glass industry is also witnessing a meteoric rise across the globe that is creating a demand for pyrometer that in turn is driving the market for pyrometer globally. For instance, Industry 4.0 incentives provided by a few governments across certain manufacturing hubs across the world are aiding the manufacturing and export of glass goods to both established and emerging economies. Italy being at the forefront of glass manufacturing and export has witnessed stable growth in the glass sector that is estimated to boost the growth of the pyrometer market across the European region.
Further, the due too growing demand for soft beverages across the globe particularly in the emerging economies is boosting the production of glass container packages that is poised to intensify the demand for pyrometer allowing the expansion of the global pyrometer market. Besides, the soft beverages, the world is witnessing the premiumization of a few traditional alcoholic beverages as well as the surge of craft beer production.
This aspect too would drive the demand for pyrometer across the world. The glass processing also extends to the pharmaceutical and personal care sector that are witnessing the great surge due to its respective demand. Due to steady research and development in the pharmaceutical industry, there is an increase in the productions of ampoules and vials that are essential for keeping medicines and their subsequent sales.
Also, applications in the ceramic sector is another area that would drive the growth for the pyrometer market. Because of the above, it should be noted that governments of the APAC region are keen on establishing smart cities and join the cohort of environmentally friendly endeavors that have been exemplified by the European nations. This would necessitate the requirement of products like bathroom fittings, sanitary ware, and tiles, in which ceramic is an integral part. This development is bound to drive the growth of the pyrometer market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Pyrometer Market Analysis, by Type
6. Global Pyrometer Market Analysis, by Technology
7. Global Pyrometer Market Analysis, by End-User
7.2. Ceramic Industry
7.3. Glass Industry
7.4. Metal Processing Industry
8. Global Pyrometer Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Accurate Sensors Technologies Ltd.
10.2. Calex Electronics Limited
10.3. DIAS Infrared GmbH
10.4. Fluke Process Instruments
10.5. LumaSense Technologies Inc.
10.6. Optris GmbH
10.7. PCE Deutschland GmbH
10.8. Shenzhen Flus Technology Co, Ltd
For more information about this report visit https://www.researchandmarkets.com/r/t8bson