27-May-2019: 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.
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.
In depth research report on Reference Thermometer
Market
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.
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
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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