Reference Thermometer Market Rising With Growth In New Technology Trends Research By 2025


The global reference thermometer market size is expected to reach USD 12.91 million by 2025 at a 5.4% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Increasing manufacturing activities in developing and developed nations such as China and India are expected to bolster market growth over the forecast period.
The global electronics devices market (including consumer electronics and industrial electronics devices) is expected to be impacted significantly by COVID-19 as China is one of the major suppliers for the raw materials (used to manufacture devices) as well as the finished products. The industry is on the brink of facing a reduction in production, disruption in supply, and price fluctuations. While this can vastly encourage local manufacturers to step up and address the growing demand, the scarcity of raw material can still pose a challenge to this industry. The sales of prominent electronic companies is expected to be affected in the near future. The report will account for Covid19 as a key market contributor.
A reference thermometer can be used as a temperature sensor as its resistance value changes with variations in temperature. These thermometers have been in use for a long period and find application in a host of industrial and laboratory temperature measurement processes such as petroleum lab, pharmaceutical lab, test facility, calibration lab, and pipeline flowmeter calibration. They are able to efficiently meet the need for accuracy, stability, repeatability, and reliability of measurement. Owing to the aforementioned features, the reference thermometer market is expected to witness high growth over the forecast period.
By device type, the handheld segment is expected to register the fastest growth owing to benefits such as portability. Furthermore, these devices are less expensive as compared to desktop devices, which are primarily used in the field of scientific research and development due to their enhanced accuracy.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/reference-thermometer-market/request/rs1
Further key findings from the report suggest:
·         The global reference thermometer market was valued at USD 8.59 million in 2017 and is expected to reach USD 12.91 million by 2025, expanding at a CAGR of 5.4% over the forecast period
·         Increasing manufacturing activities in developing and developed nations is a prominent factor anticipated to drive the market through 2025
·         By device, the desk-top segment is anticipated to witness considerable growth, registering a CAGR of more than 4.5% over the forecast period. This growth can be attributed to their precise calibration capability and provision of detailed analytical reports, which is a primary requirement in research processes
·         The handheld segment is driven by the feature of portability offered by these high-tech devices. This is anticipated to boost demand for the same over the forecast period
·         On the basis of application, the industrial segment generated the highest revenue in 2017 and is expected to register a CAGR of over 6.0% over the forecast period. Rise in manufacturing activities due to increased foreign investments in this sector, especially in Asia Pacific, has primarily fueled this segment
·         North America accounted for over 35.0% of the market in 2017 and is expected to register a CAGR of over 5.0% over the forecast period. This is owing to extensive manufacturing, power generation, and construction projects in the region and anticipated penetration of reference thermometers in these applications
·         Key players such as Wika Instruments Ltd., Fluke Corporation, and Dostmann Electronic GmbH dominated the market in 2017 owing to their emphasis on expanding their market presence through mergers and acquisitions.
The global reference thermometer market size was valued at USD 8.59 million in 2017 and is expected to exhibit a CAGR of 5.4% over the forecast period. Rise in manufacturing activities in developing and developed nations is a prominent factor anticipated to drive the market in the coming years.
Technological advancements in instrumentation engineering, leading to improvements in accuracy of temperature measurement, will also support market growth. Other factors propelling the market include increasing preference for RTD sensors and favorable government regulations around the world to reduce use of mercury in thermometers.
Accurate measurement is a crucial element of industrial manufacturing processes. RTD probe type thermometers meet the needs of technicians precisely, which include accuracy and portability. Moreover, these multi-functional, high-end devices display determined values of temperature and also record and analyze related data.
Furthermore, most of these high-accuracy, probe-type thermometers are multichannel devices that can be used with other probe type sensors such as thermocouples and thermistors, depending on the required temperature range of measurement. Precise measurement, capability to perform various operations, and portability (in case of handheld devices) are major benefits expected to further drive demand over the forecast period.
Precise measurement of process variables, such as temperature, and rising number of favorable initiatives and protocols to reduce use of mercury in thermometers are anticipated to positively influence market growth.
The industrial application is expected to emerge as the fastest-growing segment in the market. The primary factor driving product demand in industrial applications is portability. These devices can be used on-site or in proximity to the entity subject to be measured. The RTD probe type sensor makes contact with the entity, determines the temperature, and provides output value (of the temperature) to be displayed. The ability of these devices to measure temperature in hazardous areas is expected to further increase their demand in industrial applications.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-reference-thermometer-market
The medical application segment is also expected to witness significant growth owing to increasing investments in medical technology. Rise in investments is attributed to need for advanced diagnostic technologies in order to identify complex diseases evolving each day. The R&D segment is also anticipated to offer lucrative growth opportunities over the forecast period owing to extensive product development activities.
Grand View Research has segmented the global reference thermometer market based on device type, application, and region:
Reference Thermometer Device Type Outlook (Revenue, USD Thousand, 2014 - 2025)
·         Handheld
·         Desk-top
Reference Thermometer Application Outlook (Revenue, USD Thousand, 2014 - 2025)
·         Industrial
·         Medical
·         R&D
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more