Infinium Global Research’s recent report on the “Pyrometer Market (Type -Fixed, Handheld; Technology -Optical, Infrared; Wavelength -Single Wavelength, Multiwavelength; End-user Industry-Ceramics, Glass, Metal Processing): Global Industry Analysis, Trends, Size, Share and Forecasts upto 2026” provides a comprehensive outline of the factors responsible for the growth of the market. According to the report, the global market for pyrometers is over USD 300 million in 2020 and is expected to reach over USD 500 Million by 2026 growing with a CAGR of 6.6% over 2020-2026

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Pyrometers are temperature measurement instruments that operate on the principle of infrared radiation. In many industry sectors, like glass, and metal processing the use of non-contact temperature measurement instruments is important. For example, it is used for controlling complete factory processes.

Infrared Pyrometer Dominates the Pyrometer Market By Technology

Infrared pyrometers are popular in the metals industry because of their ability to measure product temperature from a distance. These sensors are ideal for measuring hot, moving targets, or for measuring in a hostile environment where traditional contact temperature sensors are not appropriate. These devices do not measure temperature directly; instead, they infer a temperature value based on the infrared energy emitted by the target of interest. The resultant temperature measurement is accurate so long as the assumptions inherent in the pyrometer design accurately represent operating conditions encountered by the sensor.

A Drop in Demand Has Compelled Steel Manufacturers to Lower Production Levels Which Eventually Affect the Sales of Pyrometer During Covid Outbreak

In 2020, the World Steel Association forecasted that steel demand would contract by 6.4%, dropping to 1 654 million tonnes due to the COVID-19 crisis. Steel demand in the developed economies was expected to decline by 17.1% in 2020. COVID -19 has disrupted an already cash-strapped, asset-intensive metal industry. In fact, the slackening demand and long leads to reopening operations require metal manufacturers to improve forecasting and swiftly respond to market dynamics.

In addition, an oversupply of inventories can result in a sudden price drop. Manufacturers are also under pressure to improve efficiencies while reducing costs, even considering shutting down facilities to avoid over-production and inventory pile-up. According to the National Association of Manufacturers, about 80% of manufacturers expect the pandemic to have a financial impact on their business. The metal industry has rapidly responded to the COVID-19 outbreak by ensuring the safety of employees while maintaining business continuity. However, a drop in demand has compelled manufacturers to lower production levels and limit inventories that further affecting the market for the pyrometer. The manufacturers have limited their operations and limited the purchase of new equipment for maintenance which eventually affects the sales of the pyrometer.

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The Asia Pacific Holds the Largest Market Share in the Pyrometer market

APAC dominates the pyrometer market. The Asia Pacific pyrometer market is driven by the growing demand for metals such as steel for complex industrial applications. China, Japan, South Korea, and India are expected to drive the pyrometer market in APAC. Furthermore, investments for the expansion of glass manufacturing and government support for steel production are contributing to the growth of the market in this region.

The Companies are Largely Focused on New Product Development to Remain Competitive in the Marketplace

The key players in the pyrometer market are CHINO Corporation, AMETEK Land, Fluke Corporation, Advanced Energy Industries, Inc., OMEGA Engineering, Optris GmbH, Williamson Corporation, Sensortherm GmbH, PCE Instruments, DIAS Infrared GmbH, Micro-Epsilon, and Pyrometer Instrument Company. The companies are largely focusing on new product development to strengthen their market position. For instance, In November 2019, Fluke Process Instruments Introduces New Pyrometer for High-Temperature Applications and Additional Fieldbus Options.

In addition, In September 2020, Fluke Process Instruments launched one- and two-color Endurance pyrometers, which are ideal as dedicated calibration instruments for applications demanding high precision and high-temperature reference. Furthermore, in October 2020, CHINO Corporation launched IR-CZS/CZI/CZP as a high-performance model of IR-CZ series pyrometers for improving the accuracy for mid-to-high temperature ranges, targeting iron, steel, and semiconductor manufacturing applications.

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