Market Size of Handheld Thermal Imaging Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.34 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Handheld Thermal Imaging Equipment Market Analysis
The Handheld Thermal Imaging Equipmen market is expected to grow at a CAGR of 9.34% over the forecast period (2021 - 2026). Handheld thermal imaging equipment gives a tactical advantage in the field, providing clear images in total darkness.
- Further, the advent of smartphones as a cost-effective hand-held/portable thermal imaging devices is expected to increase the adoption of technology. The companies, like Caterpillar(Cat), have integrated FLIR's thermal imaging camera in the Cat S60 and the latest Cat S61 smartphones.
- Moreover, electrical installations in buildings like an office complex, residential complex, or shopping complex like a mall, are mostly located at places with poor air ventilation. Again, it requires an effective maintenance schedule to avoid any mishap. Various surveys in different sectors have shown that predictive maintenance using thermal imaging has saved up to an average of 40% of the maintenance cost and 50% of downtime of the plant process. These factors have a positive outlook on the handheld thermal imaging equipment market.
- However, export restrictions and additional detailing required for longwave infrared cameras restrain the growth of the thermal imaging market.
