(MENAFN- iCrowdNewsWire)The new report by Expert Market Research titled, 'India Thermocouple Market Report and Forecast 2021-2026', gives an in-depth analysis of the India Thermocouple Market, assessing the market based on its segments like type, raw materials, sectors, sensor type and region. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
The thermocouple market in India is being driven by the country's expanding manufacturing industry. The market is being assisted by numerous government programmes such as 'Make in India,' which encourages the establishment of enterprises within India and attracts investment from both domestic and international businesses. The steel industry's strong demand is propelling the sector. India is one of the world's top steel producers. In the Asia Pacific area, India is the top thermocouple market. The expansion of steel's end-use sectors, such as infrastructure, will help move the thermocouple industry forward. India, along with China and the United States, is predicted to be a key construction market. The thermocouple market in India is centred in the country's western and southern areas. Rising infrastructure investments and increased urbanisation are driving the sector in India. Favourable government programmes luring investments into specific end-use areas are also helping the business. The country's need for the material is increasing rapidly, owing primarily to the steel industry.
Industry Definition and Major Segments
A thermocouple is made up of two wires composed of different metals that are connected together to form a junction where temperature can be monitored. Chemical resistance, temperature range, durability, vibration resistance, and application suitability are some of the features that can differ amongst them.
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Based on their different product types, they can be categorised as:
- Type K
- Type J
- Type R
On the basis of sector, the market is segmented into:
- Power Generation
- Chemical and Petrochemical
- Metals and Mining
- Food and Beverage
By sensor type, the industry is bifurcated into:
- Contact Type
- Non-Contact Type
Thermocouples are also widely used in the automotive industry, which is one of the substance's most important application sectors worldwide. They are utilised in automobile parts such as spark plugs, cylinder heads, car batteries, brake discs, and exhaust gas readings, among others, to measure and record vital readings. As a result, the Indian thermocouple market is further boosted by the country's rapidly expanding automotive industry. In 2017, the country had the fourth highest vehicle sales in the world and was the seventh largest commercial vehicle manufacturer. The country's growing e-vehicle sector is boosting the thermocouple industry even farther. The country's oil and gas sector is expanding rapidly, providing additional fuel to the country's industry growth. India is the continent's major oil refiner and the world's third largest energy consumer.
Key Market Players
The major players in the market are Honeywell International Inc., ABB Ltd., Tempsens Instrument Pvt. Ltd., General Instruments Consortium, S.R.I Electronics, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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