The growing demand for heat stress monitors from the mining and oil & gas industries and surging adoption due to the stringent safety and environment regulations for workplaces are the key factors that positively impact the global heat stress monitor market. It is expected to generate $62.5 million in revenue by 2030, advancing at a CAGR of 2.7% during the forecast period (2020–2030).
The COVID-19 outbreak has impacted original equipment manufacturers (OEMs) in every region, which, in turn, has hampered the global shipments to some extent. The pandemic has forced a slowdown in the supply chain, which has further delayed the deployment of heat stress monitors across different verticals.
Handheld/Portable Category To Hold Larger Share throughout Forecast Period
The heat stress monitor market, based on product type, is classified into portable/handheld and fixed. Of these, the portable/handheld category held the larger share in 2019. This is attributed to the dynamic nature of these variants, which enable the users to carry them across the field. They are used for monitoring the intensity of heat stress in various conditions, ranging from industrial workplaces to underground mines.
The heat stress monitor market, based on technology, is classified into wet bulb and dry bulb. Of these, the wet bulb category is expected to remain the faster growing over the forecast period. This can be ascribed to the ability of the wet bulb technology to monitor various environmental factors, including temperature, relative humidity, and airflow.
Geographically, the North American region held the largest share in the heat stress monitor market in 2019, and it is expected to remain dominant during the forecast period. The mandatory safety standards in workplaces, primarily in the mining and oil & gas industries in the region, have been a major factor behind the growing North American market.
High Focus on Geographical Expansion among Players in Market
Key players in the heat stress monitor industry are relying on geographic expansion to increase their market share. For instance, in April 2020, Misumi Group Inc. announced the expansion and relocation of its warehousing facility within Indonesia, to quadruple the floor area and double the current stock capacity. It will enable greater mobility, owing to the integration of the warehouse and sales office and ensure reliable and quick delivery of supplies including heat stress monitors.
Browse report overview with detailed TOC on "Heat Stress Monitor Market Research Report: By Offering (Hardware, Software, Service), Technology (Wet Bulb, Dry Bulb), Product Type (Handheld/Portable, Fixed), Sensor Type (Globe Thermometer, Natural Wet Bulb, Dry Bulb, Humidity, Air Flow), Application (Athletics & Sport, Mining and Oil & Gas, Military, Manufacturing Plants)- Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/heat-stress-monitor-market-report
Some of the major players operating in the global heat stress monitor market are TSI Incorporated, Nielsen-Kellerman Co. (Kestral Instruments), REED Instruments, Narda Safety Test Solutions GmbH, FLIR Systems Inc., Romteck Australia Pty. Ltd., Industrial Scientific Corporation, Sensidyne LP, PCE Instruments U.K. Ltd., and General Tools and Instruments LLC.