Market Leadership - Heat Stress Monitor Market
The overall heat stress monitor market is estimated to be valued at USD 43.3 million in 2018 and is expected to reach USD 60.9 million by 2023, at a CAGR of 7.07% between 2018 and 2023. The market growth is attributed to the growing adoption of heat stress monitoring in athletics and military applications, and growing concerns of environmental and safety regulations for heat stress management.
The heat stress monitor market in 2017 was mainly dominated by TSI (US), Nielsen-Kellerman (Kestrel Instruments) (US), REED Instruments (US), FLIR Systems (Extech) (US), and Romteck (Australia). These companies were considered as the top 5 players based on market presence, client/customer base, revenues, and key developments related to new product developments, geographical footprint, company strategy, partnerships, agreements, and mergers & acquisitions in the heat stress monitor market in 2017. Some of the major strategies adopted by these market players to compete in the heat stress monitor market were new product developments, acquisitions, and partnerships.
TSI was founded in 1961 and is headquartered in Minnesota, US. The company is a leading company in the heat stress monitor market. In February 2018, the company acquired 3M (US) to offer heat stress monitors. 3M was one of the leading manufacturers of heat stress monitor products. Its portfolio includes 3M QUESTemp heat stress monitors with natural and waterless wet bulb technology. This acquisition is expected to expand its product portfolio and increase the market share of the heat stress monitoring business. It has a strong and extensive network of distributors and resellers worldwide. The company has a huge customer base with long-term contracts.
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Nielsen-Kellerman is the next leading company in the heat stress monitor market that provides heat stress monitoring products under its brand Kestrel Instruments. Nielsen-Kellerman was founded in 1978 and is headquartered in Pennsylvania, US. Clearview Capital (US) acquired Nielsen-Kellerman in 2017.
The company sells its products through strong distributors to the US, Canada, the UK, China, Russia, UAE, South Africa, and France. Compared to the leading players in the heat stress monitor market, it has a differentiating product. Nielsen-Kellerman is one of the most active and innovative companies in the heat stress monitoring market with strong focus on new product development and product innovation. For instance, the company launched 5400 Heat Stress Tracker for military, athletics, and occupational safety in November 2015.
Related Reports:
Heat Stress Monitor Market by Product Type (Fix & Portable and Handheld), Application (Athletics & Sports, Military, Oil & Gas and Mining, and Manufacturing Plants), Offering, Life Form, WBGT Technology, Sensor Type, and Region - Global Forecast to 2023
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