Thermocouple Wire Market to grow beyond US$ 507.0 million by 2025
February 17, 2020
Thermocouple Wire Market Overview:
The global thermocouple wire market size is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 507.0 million in 2024. Increasing worldwide steel and aluminum production along with expanding transportation sector is one of the major factors driving the growth of thermocouple wire market. Thermocouples wires are used in the critical hot section of these industries. Another trend that is impacting the growth of thermocouple wire market is the growing usage of aluminum and steel in the automotive and aerospace industries. These industries support aluminum and advanced-high-strength-steel (AHSS) as a lightweight option and are continuously running research and development to implement it in their crucial sections.
Report Overview:
This paragon 240-page report, from Stratview Research, studies the thermocouple wire market over the trend period of 2013 to 2018 and the forecast period of 2019 to 2024. The report estimates the current and future demand for thermocouple wires at the global, regional, as well as country-level. The report also studies all the major suppliers of thermocouple wires located across the globe. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Get a free sample of the report here:
https://www.stratviewresearch.com/Request-Sample/532/thermocouple-wire-market.html
Thermocouple Wire Market Segment Insights:
Type K wire: The growth engine
Based on the wire type, the market is segmented into type K, type J, type N, type R, type S, and others. Type K thermocouple wire is expected to remain the most dominant segment of the market during the forecast period. However, type N thermocouple wire is expected to be the fastest-growing segment over the same period. Type K wires are dominantly used in the market, owing to their excellent resistance to oxidation and corrosion. Wide operating temperature range of type K and its capabilities to perform in extreme environmental conditions have made it as a perennial choice over other thermocouple wires.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/532/thermocouple-wire-market.html
Dominance of: The transportation industry
Based on the end-user industry type, the market is segmented into transportation, steel & metal processing, glass & ceramics, power, oil & gas, and others. The transportation industry is likely to remain the growth engine of the market during the forecast period. Increasing automotive production, especially in the emerging economies, such as China and India; increasing demand for metro and high-speed bullet trains; and increasing aircraft deliveries are driving the demand for thermocouple wires in this industry.
A highly/moderately/fragment consolidated Market
The key players in the market are Sandvik AB, BASF SE, Belden Inc., TE Wire & Cable LLC, Pelican Wire Company Inc., Heraeus Holding GmbH, Shanghai Bluewin Wire & Cable Co., Ltd., Johnson Matthey PLC, Pyromation Inc., and Dwyer Instruments, Inc. Development of efficient and better oxidation-resistant thermocouple wires, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Regional Hegemony of Asia-Pacific
Asia-Pacific is projected to remain the largest market for thermocouple wires during the forecast period. Asia-Pacific dominates the global market in terms of chemical, steel, aluminum, and glass production. Expanding the automotive and aerospace industries are further fuelling the growth of the thermocouple wire market in the region. China is the growth engine of the region’s market and is one of the largest producers of chemicals and petrochemicals across the world. China’s automotive and aerospace industries are also witnessing significant growth, owing to the availability of necessary inputs and availability of cheap labor. These factors are driving the growth of the thermocouple wire market in the region.
Europe is projected to remain the second-largest market for thermocouple wires during the forecast period. Increasing automotive production, ongoing economic recovery in the region, and expanding industrial sector are fuelling the growth of the thermocouple wires market in the region. Growing glass and steel production in the region are acting as a catalyst towards the growth of the thermocouple wires market in Europe.
Click here for other high value market reports from Stratview Research in the Construction & Equipment Market: https://www.stratviewresearch.com/market-reports/Construction-Equipment.html
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
For enquiries,
Contact:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176