Global Reference Thermometer Market was valued US$ XX Bn in 2018 and is expected to reach US$ 13.38 Bn by 2026, at a XX % CAGR of around during a forecast period.

Global Reference Thermometer Market

The report estimates the growth rate and the Reference Thermometer Market value based on Market dynamics, development inducing factors. The complete knowledge is based on the latest industry news, opportunities, and trends. Rise in manufacturing activities in developing and developed nations is a prominent factor estimated to drive market growth. Moreover, technological advancements in instrumentation engineering, leading to improvements in the accuracy of temperature measurement, are also boosting the market growth. Other factors propelling the market are increasing preference for resistance temperature detectors sensors and favorable government regulations around the world to reduce the use of mercury in thermometers.

By device type, handheld devices are expected to emerge as the largest and fastest-growing segment in the reference thermometer market due to portability. Furthermore, handheld devices are less expensive compared to desktop devices, which are primarily used in the field of scientific research and development owing to their enhanced accuracy. Handheld devices are preferred by technicians due to their usefulness in inaccessible areas and precise measurements. Although desktop devices are expensive, they are used for calibrating temperature sensors for precise measurements.

Based on application, industrial application is expected to emerge as the fastest-growing segment in the market owing to the primary factor driving product demand in industrial applications is portability. These devices are used on-site or in proximity to the entity subject to be measured. The ability of these devices to measure temperature in hazardous areas is expected to further increase their demand in industrial applications.

The medical application segment is also expected to witness significant growth owing to increasing investments in medical technology. Rise in investments is attributed to the need for advanced diagnostic technologies to identify complex diseases evolving each day. The R&D segment is also anticipated to offer lucrative growth opportunities over the forecast period owing to extensive product development activities.

Region-wise, North America captured the largest share and is expected to dominate the market during the forecast period due to reference thermometers are extensively used for measurement of temperature-sensitive chemicals such as petroleum m& petrochemicals. Consequently, growth in the petroleum & petrochemical industry is anticipated to spur product adoption in North America over the forecast period.

The objective of the report is to present a comprehensive analysis of the Global Reference Thermometer Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Reference Thermometer Market dynamics, structure by analyzing the market segments and project the Global Reference Thermometer Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Reference Thermometer Market make the report investor’s guide.

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Scope of Global Reference Thermometer Market:

Global Reference Thermometer Market, by Device Type:

• Handheld
• Desktop
Global Reference Thermometer Market, Application:

• Industrial
• Medical
• R&D
• Others
Global Reference Thermometer Market, by Region:

• North America
• Europe
• Middle East & Africa
• Asia Pacific
• Latin America
Key players operated in Global Reference Thermometer Market:

• Wika Instruments Ltd.
• Fluke Corporation
• Dostmann Electronic GmbH
• ISOTECH
• Others.

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