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Pyrometer Market Overview
The global pyrometer market is estimated to be valued at $542.8 million in 2017 and is forecasted to witness a CAGR of 6.8% during 2018–2023. Automation expansion in the industrial sector and increasing need for device upgradation in the quality-check processes are the key factors driving the growth of the market. Pyrometers are contactless temperature measuring and monitoring devices used in various industrial applications.
GLOBAL PYROMETER MARKET, BY TECHNOLOGY, $M (2013-2023)
On the basis of technology, the pyrometer market has been categorized into optical and infrared. Between the two, the infrared category is estimated to contribute a larger revenue share, of over 56%, to the pyrometer market in 2017. This can be majorly attributed to the advanced features and a large number of benefits associated with the devices based on the infrared technology. These devices can be integrated with additional technologies, such as fiber optics and pulsed laser, to make instrument control easy and facilitate easy temperature measurement of distant objects. Additionally, these devices can be combined with sapphire probes to reach adverse locations, such as vacuum chambers and reactors, for temperature measurement.
The stationary pyrometer is estimated to hold a larger revenue share, accounting for over 50% in 2017. This can be mainly attributed to the high demand for robustly structured and calibrated industry-specific stationary devices.Portable pyrometers, on the other hand, are handier and cheaper than the stationary ones. Their usage is not restricted to one location, for a specific object; thus, they are suitable for mobile temperature measurements in different applications.
On the basis of industry, the pyrometer market has been categorized into metal processing, glass, ceramics, and others. Metal processing is expected to continue being the largest revenue generator for the pyrometer market in the coming years. It is because of the increasing automation in the metal processing industry and the presence of large number of metal producers, globally. The temperature measuring device is increasingly being used in the metal processing industry because it helps in the optimization of industrial processes, at temperatures as high as 3,000 °C (5,432 °F).
North America is estimated to hold the second-largest share in the pyrometer market in 2017. This can be mainly attributed to the increasing use of advanced manufacturing technologies and the presence of a large number of market players in the region. Some of the players operating in the North American pyrometer market are Fluke Corporation, FLIR Systems, LumaSense Technologies Inc., Mastech Group Limited, Williamson Corporation, OMEGA Engineering Inc., and Milwaukee Tool.
Pyrometer Market Dynamics
A recent trend observed in the pyrometer market is the growing popularity of dual-wavelength devices. There are two major types of infrared devices, namely dual-wavelength and two-color, of which dual-wavelength devices are comparatively new. Dual-wavelength devices are gaining more popularity because of their technological benefits. Unlike traditional two-color ones, dual-wavelength devices use a more specific wavelength set. In a dual-wavelength device, wavelength can be adjusted so that the temperature can be viewed through optical obstructions such as water, steam, flames, and plasma. Two-color device, on the other hand, is used when there is a clear optical path between the device and the target.
The increasing need for device upgradation in the QC process is another factor driving the growth of pyrometer market. Since the QC stage in any production process is responsible for the final quality check of the product, it becomes even more crucial to upgrade the conventionally used temperature measuring devices (such as thermocouples and thermistors) to contactless temperature measuring devices. These contactless devices are compatible with more number of industrial instruments. Some companies also offer QC software along with these devices to monitor the performance of remotely located devices fitted on industrial machines.
High price sensitivity of customers is one of the major factors hindering the growth of the pyrometer market. The sales of the device depend upon the product-specific or process-centric demands of consumers. Specially designed or customized contactless temperature measuring devices are costlier than the regular ones, as they incur high installation and designing charges. Also, a contactless temperature monitoring pyrometer designed for meeting the requirements of a particular industrial application might not deliver optimum performance if used in another application. For example, dual-wavelength temperature measuring devices may not provide accurate readings, if used in glass applications. They are ideal for use in the steel industry.
Simplification of the deployment process with software tools can be viewed as a growth opportunity for the players operating in the pyrometer market. At present, the deployment process of contactless temperature measuring devices is quite complex and requires high manpower. In most of the device manufacturing companies, there is a dedicated sales team that looks upon the requirements of customers and forward their product queries to the concerned team/personnel. This process can be automated in future with the use of software tools. Software generally analyzes the technical aspects of customer requirements and automatically forwards them to the concerned department.
Pyrometer Market Competitive Landscape
Some of the major companies operating in the global pyrometer market are Fluke Corporation, KELLER HCW GmbH, LumaSense Technologies Inc., Optris GmbH, Micro-Epsilon, B+B Thermo-Technik GmbH, FLIR Systems Inc., AOIP SAS, Proxitron GmbH, Accurate Sensors Technologies Ltd, and AMETEK Land. The industry has witnessed several product launches by these players in recent years. For instance, in November 2017, Optris launched two products, the Optris Xi 80 and the Optris Xi 400, at the SPS trade fair. The Xi series pyrometer is a fusion between a robust, compact contactless temperature monitoring device and an advanced IR camera. Its integrated spot-finder feature enables accurate temperature measurements in moving objects, without having the need to re-adjust the sensor.