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Thermocouples & High End Optical Pyrometers Market : Key Revenue Pockets
The Thermocouples and Optical Pyrometersmarket is a stable market, derived majorly by the demand in the industrial applications including steel industry, glass industry, and petrochemical industry. The overall trend analysis for both Thermocouple (contact type) and Optical Pyrometers (non-contact type) follow the same pattern across the applications in the forecast period. Nowadays,the industrial applications market which majorly includes steel industry is the biggest consumer of Thermocouples and Optical Pyrometers.Steel industry is the first onewhich initiated the use of Thermocouples and Optical Pyrometers for its automatic processes and quality assessment.Moreover, with the advancement in the technology of the manufacturing process of glass; the glass industry application accounted as the second largest market in the ecosystem.
On the other hand, petrochemical application is identified as the fastest growing market across the forecast period. This is due to the requirement of Thermocouples and Optical Pyrometers in each and every process of the petrochemical industry such as distillation of crude oil, in condensation process, temperature measurement gas traps, for measurement temperature of liquefied gas, steam drum temperature measurement, and also in tank farms in the refinery.
The demand of Thermocouples and Optical Pyrometers is highest in the North America region and is expected to follow the same trend down the line except in 2020, when the Europe market is going up, but that too only for Optical Pyrometers. Whereas, APAC is accounted as the fastest growing market for Thermocouples and Europe market is the fastest growing market for Optical Pyrometers. However, both the geographies are having neck to neck competition in revenue matrix.
Thermocouples and High End Optical Pyrometer Market by product Types, Applications (Automotive, Petrochemical, Consumer Utility, Glass, and Aerospace & Defense) and Geography (North America, Europe, APAC, RoW) - Analysis & Forecast to 2010 - 2020
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