NEW YORK, Dec. 8, 2021 /PRNewswire/ -- Factors such as economic slowdown and other macroeconomic factors may impede the growth of the thermal scanner market. Sales of thermal scanners are highly dependent on the growth of the manufacturing industries such as food and beverages, pharmaceutical, automobile, aerospace, oil and gas, chemical and petrochemical, and electrical and electronics. However, the slowdown in the manufacturing industry, trade war between the US and China, and the current impact of the COVID-19 pandemic are expected to have an impact on the industrial output worldwide. Thus, the slowdown in demand for industrial products has impacted the CAPEX in new manufacturing facilities. This has negatively impacted the demand for thermal scanners.
View a Free Sample Report for more highlights about the various factors impacting the growth of the market
The thermal scanner market is expected to grow by USD 1.92 billion from 2020 to 2025. The growth momentum of the market is expected to accelerate at a CAGR of 7.98%.
Thermal Scanner Market: Major Growth Drivers
The rising military spending is driving the growth of the thermal scanner market. The increasing geopolitical tensions between countries have led to a significant increase in military spending worldwide. Countries such as India, China, France, Saudi Arabia, and the US are modernizing their land-, air-, and sea-based defense systems. This has propelled the demand for thermal scanners in military aircraft, autonomous systems, satellites, spacecraft, and other defense products.
For more information about the drivers of this market, View Our Free Sample Now
Thermal Scanner Market: Key Vendor Offerings
Vendor Description
- 3M Co. - The company offers thermal scanners that are equipped with In-Mask Display to see a clear image unaffected by external conditions and adjustable display which can be configurable to ones line of sight, under the brand name of 3M Scott.
- AMETEK Inc. - The company offers thermal scanners that are equipped with four lens options as it views any target at any distance, with clarity and provides the high accuracy thermal images needed to provide reliable process control, product quality verification, or safety monitoring, under the brand name of Ametek.
- Fluke Corp. - The company offers thermal scanners that are designed for everyday use, in the toughest industrial environments and suitable for preventive maintenance, electrical inspections, and frontline troubleshooting, under the brand name of Fluke.
- Infrared Cameras Inc. - The company offers thermal scanners that can effectively locate danger and victims for search and rescue efforts and the law enforcement and security officers can easily identify intruders hiding under the cover of night, under the brand name of ICI.
- L3Harris Technologies Inc. - The company offers thermal scanners that are designed for long-range surveillance and security applications and comes in two configurations, providing scalability to user requirements, under the brand name of L3Harris.
Reasons to Buy Thermal Scanner Market Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive thermal scanner market growth during the next five years
- Estimation of the thermal scanner market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the thermal scanner market across APAC, Europe, North America, South America, and MEA
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the thermal scanner market vendors
Subscribe to our "Lite Plan" billed annually at USD 3000 that enables you to download 3 reports a year and view 3 reports every month.
Related Reports:
- Smart Sensor Market: The smart sensor market has been segmented by application (automotive, industrial automation, consumer electronics, and others) and geography (APAC, Europe, North America, South America, and MEA). Download Free Sample Report
- Electrical Conductors Market: The electrical conductors market has been segmented by application (power cables, transformer, busbar, and submarine power cables) and geography (APAC, Europe, North America, South America, and MEA). Download Free Sample Report
Thermal Scanner Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 7.98% |
Market growth 2021-2025 | USD 1.92 billion |
Market structure | Fragmented |
YoY growth (%) | 7.00 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | North America at 35% |
Key consumer countries | US, China, Germany, UK, and Canada |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | 3M Co., AMETEK Inc., Fluke Corp., Infrared Cameras Inc., L3Harris Technologies Inc., Opgal Optronic Industries Ltd., Robert Bosch GmbH, Seek Thermal Inc., Teledyne FLIR LLC, and Testo SE and Co. KGaA |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
SOURCE Technavio
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
