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    Thermocouple Wire Market Size, Share & Forecast (2019-2024)

    Thermocouple Wire Market Size, Share & Forecast (2019-2024)
    Report code - SRCE115 Published On : Sep,2019 No. of Pages: 240

    Thermocouple Wire Market Size, Share, Trend, Forecast, & See more...

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    Thermocouple Wire Market Insights

    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.

    Thermocouple Wire Market Forecast

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    Thermocouple Wire Market Share Analysis

    Insights by End-User Type

    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.

    Insights by Type of Wires

    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.

    Thermocouple Wire market Forecast

    Regional Insights

    In terms of regions, 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.

    Key Players

    The supply chain of this market comprises of raw material suppliers, thermocouple wire manufacturers, tier players, and end-users. 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.

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Market Scope & Segmentation

    Thermocouple is a sensor used to measure temperature. It consists of two dissimilar metals in the form of wires, which are joined together at the sensing end.  These thermocouple wires in a thermocouple probe help to sense temperature using the point of cold junction compensation (cjc end). Thermocouples wires are of different types and each thermocouple wire has its unique characteristics in terms of temperature range, durability, vibration resistance, chemical resistance, and application compatibility. For instance, type K thermocouple wire is used for operation in the temperature range of –270°C to 1260°C and is composed of nickel alloys. Type K, J, N, T, and E are the base metal thermocouples wires, whereas type R, S, and B are the Nobel metal thermocouples wires. Thermocouple wires are used in many industrial, scientific, and OEM applications. They are mostly found in industrial markets, such as power generation, oil & gas, pharmaceutical, biotech, cement, and paper manufacturing.

    Research Scope

    Trend & Forecast Period

    2013-2024

    Size in 2024

    US$ 507.0 million

    Forecast

    5.5% CAGR during 2019-2024

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries Covered

    The USA, Canada, Mexico, Germany, France, The UK, Russia, China, Japan, India, Latin America, the Middle East and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented in the following ways:

    Thermocouple Wire Market Size, Share & Forecast by End-Use Industry Type:

    • Transportation
    • Steel & Metal Processing
    • Glass & Ceramics
    • Power
    • Oil & Gas
    • Others

    Thermocouple Wire Market Size, Share & Forecast by Thermocouple Wire Type:

    • Type K
    • Type J
    • Type N
    • Type R
    • Type S
    • Others

    Thermocouple Wire Market Size, Share & Forecast by Sales Channel Type:

    • Distributor Sales
    • Direct Sales

    Thermocouple Wire Market Size, Share & Forecast by Region:

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Report Features

    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.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.


    A bird's eye view of the Global Thermocouple Wire Market

    What will be the size of the Thermocouple Wire Market in the foreseeable years?

    Driven by a number of factors like Increasing worldwide steel and aluminum production along with expanding transportation sector, the thermocouple wire market size is projected to reach an estimated value of US$ 507.0 million in 2024.

    Which country/region is expected to remain the largest Thermocouple Wire Market?

    In terms of regions, Asia-Pacific is projected to remain the largest market for thermocouple wires during the forecast period.

    Which type of wire is dominant?

    Type K thermocouple wire is expected to remain the most dominant wire type of the market during the forecast period.

    Who are the key players in the thermocouple wire market?

    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. are among the key players in the Thermocouple Wire Market.

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