Global Handheld Reference Thermometer Market – Industry Trends and Forecast to 2029

Handheld Reference Thermometer Market Analysis and Size

The global market for handheld reference thermometers has been increasing due to commendable advancements in the field of industrial manufacturing. The importance of reference thermometers in a variety of industrial applications has paved the way for the global market's expansion and is expected to continue attracting investments from investors and market stakeholders.

Data Bridge Market Research analyses that the handheld reference thermometer market which was growing at a value of 16.33 million in 2021 and is expected to reach the value of USD 28.06 million by 2029, at a CAGR of 7.00% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Handheld Reference Thermometer Market Scope and Segmentation

Market Definition

In order to measure temperature in an industrial setting, reference thermometers provide high accuracy temperature sensors with hand-held readout instruments. To provide the highest accuracy possible, reference thermometers are calibrated to UKAS standards. It can be used for comparison calibration, which involves placing both the reference thermometer and the temperature sensor to be tested in a stable heat source, such as a water bath. The tested temperature sensor readings can be compared to the reference thermometer readings to determine the temperature sensor's accuracy.

Global Handheld Reference Thermometer Market Dynamics

Drivers

• Growing need for precision measurements

Precision measurement is a critical component of industrial manufacturing processes. RTD probe thermometers meet the technicians' needs, including accuracy and portability. Furthermore, these multi-functional, high-end devices display temperature values as well as record and analyse related data. Furthermore, the majority of these high-accuracy probe-type thermometers are multichannel devices that can be used in conjunction with other probe-type sensors such as thermocouples and thermistors, depending on the temperature range of measurement required. Precise measurement, the ability to perform various operations, and portability are major advantages that are expected to drive demand even further over the forecast period.

• High penetration of manufacturing activities

Growing manufacturing activities in both developing and developed countries are expected to drive growth in the global reference thermometer market during the forecast period. Furthermore, technological advancements in instrumentation engineering and improvements in the accuracy of temperature measurement devices are expected to fuel the target market's growth over the forecast period. Furthermore, rising demand for RTD sensors and favourable government policies aimed at reducing the use of mercury in thermometers are expected to drive global market growth over the forecast period.

Opportunity

Technological advancements in instrumentation engineering will create several opportunities for the handheld reference thermometer market to grow during the forecast period. Some of the factors expected to drive growth in the handheld reference thermometer market include favourable government regulations around the world to reduce the use of mercury in thermometers.

Restraints

With high market treats of substitutes such as mercury thermometers, the market will act as a restraint, further challenging the growth of handheld reference thermometer during the forecast period.

This handheld reference thermometer market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the handheld reference thermometer market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Handheld Reference Thermometer Market

An extraordinary global public health disaster brought on by the COVID-19 has almost affected every industry. Its long-term effects are anticipated to have an impact on industry growth over the course of the projection period. Our ongoing research is improving how we conduct it to ensure that the underlying COVID-19 issues and potential solutions are covered. In 2020, demand for thermometers increased because, among other important indicators, temperature was a significant predictor of coronavirus infection. With the aid of forehead thermometers, authorities and medical experts may monitor temperature without running the risk of contracting an infection from one another. The popularity of digital thermometers has grown in comparison to conventional mercury thermometers. The 2020 pandemic has favoured non-contact thermometers, resulting in a sharp decline in demand over the last decade.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Handheld Reference Thermometer Market Scope

The handheld reference thermometer market is segmented on the basis of application and end users. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

End User

• Industrial
• Medical
• Research & Development
• Others

Application

• Calibration
• Loop Checking
• Plant Startup
• Troubleshooting
• Maintenance
• Repair

Handheld Reference Thermometer Market Regional Analysis/Insights

The handheld reference thermometer market is analysed and market size insights and trends are provided by country application and end users as referenced above.

The countries covered in the handheld reference thermometer market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominated the market and is anticipated to continue to do so over the forecast period. The surge in the petroleum sector brought on by the recent U.S. shale oil reserve finds is the main driver of regional growth. In addition, despite the astonishing expansion in developing countries like China, the United States currently leads the globe in the pharmaceutical business, and this dominance is predicted to continue. For measuring temperature-sensitive compounds, such as petroleum and petrochemicals, reference thermometers are widely employed. As a result, during the course of the projection period, expansion in the petroleum/petrochemical industry is predicted to encourage product adoption in North America.

Asia-Pacific is set to register highest growth rate in the global market due to the significant foreign investments are being made in each of them for the development of diverse industries. Considering the rate of development and urbanisation occurring in countries like China and India, the penetration of reference thermometers is anticipated to significantly increase. Furthermore, nations like Japan invest extensively in R&D across a variety of industries, providing a number of opportunities for the industry to expand.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Handheld Reference Thermometer Market Share Analysis

The handheld reference thermometer market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to handheld reference thermometer market.

Some of the major players operating in the handheld reference thermometer market are:

• WIKA Instruments India Pvt. Ltd.(India)
• Fluke Corporation (U.S.)
• Dostmann Electronic GmbH (Germany)
• Isothermal Technology Limited. (U.K.)
• Thermco Products Inc. (U.S.)
• ThermoProbe, Inc. (U.S.)
• AccuMac Technology Inc. (U.S.)
• CHINO Corporation India Pvt. Ltd. (India)
• Eurolec Instrumentation Ltd. (Ireland)
• Gometrics SL (Spain).
• IndoSurgicals Private Limited. (India)
• Sperry West. (U.S.)
• KwikTemp Medical (U.S.)
• Welch Allyn (U.S.)
• Exergen Corporation(US)
• Geratherm Medical AG (Germany)
• Microlife Corporation. (Switzerland)
• BPL Medical Technologies (India)
• CONTEC MEDICAL SYSTEMS CO.,LTD (China)
• Cardinal Health. (U.S.)
• OMRON Corporation (U.S.)

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