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The India thermocouple market is being aided by the growth of the global thermocouple market, which reached USD 778.32 million in 2023. The global thermocouple market is projected to grow further in the coming years, growing at a CAGR of 3.5% between 2024 and 2032.
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The Asia Pacific is a significant market in the thermocouple industry. In the Asia Pacific, the industry is dominated by China and India. The substance finds a significant proportion of its application in the Asia Pacific in processing industries like steel, cement, and glass.
India is a leading market for thermocouple in the Asia Pacific region. The thermocouple market in India is being driven by the growing manufacturing sector in the country. The market is being aided by the various government schemes like ‘Make in India,’ encouraging the expansion of industries within India and attracting investment from local and global players. The industry is being driven by the robust demand from the steel industry. India is one of the largest steel producers globally. The growth in the end-use sectors of steel like infrastructure will also propel the thermocouple industry forward. India, along with China and the US, is expected to be one of the leading construction markets in the coming years.
A thermocouple comprises of two wires made of two different metal types, which are joined together to create a junction, from where temperature can be measured. They can vary in their properties like chemical resistance, temperature range, durability, vibration resistance, and application compatibility. Thus, based on their different product types, they can be categorised as:
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They are made of raw materials like nickel, iron, copper, or platinum, among others. They are used in the following sectors:
By sensor type, the industry is bifurcated into:
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The thermocouple market in India is concentrated in the western and southern regions of the country. The industry in India is being driven by the rising infrastructural investments and the growth in urbanisation. The industry is also being aided by favourable government schemes attracting investments into the end-use sectors of thermocouples. The demand for the substance in the country is witnessing a robust growth, especially from the steel sector.
Thermocouples also find extensive application in the automotive sector, which is one of the leading application sectors of the substance globally. They are used to measure and record essential readings in the automobiles and are used in parts like spark plugs, cylinder heads, car batteries, brake discs, and exhaust gas readings, among others. Thus, the Indian market for thermocouple is also aided by the robustly growing automotive industry in the country. The country accounted for the fourth largest sales of vehicles, globally, and was the seventh largest commercial vehicles manufacturer in 2017. The rising market for e-vehicles in the country is further driving the thermocouple industry in the country. The oil and gas segment in the country is witnessing a robust growth, providing further impetus for the industry growth in the country. India is one of the largest oil refiners in the continent and is the third largest consumer of energy globally.
The report gives a detailed look into the following key players in the India thermocouple market, covering their market share, capacity, and latest developments like capacity expansions, mergers, acquisitions, and investments, and plant turnarounds:
The EMR report gives an in-depth insight into the manufacturing process, including the costs involved. It assesses the market based on the Porter’s Five Forces model as well as through SWOT analysis. The comprehensive report analyses the micro and macro aspects of the industry.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by Raw Material |
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Breakup by Sensor Type |
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Breakup by Application |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The India thermocouple market is being aided by the growth of the global thermocouple market, which reached USD 778.32 million in 2023.
The global thermocouple market is projected to grow at a CAGR of 3.5% between 2024 and 2032.
The major market drivers include the growing manufacturing sector, favourable government schemes, strong demand from steel market, rising automotive market, augmenting market for e-vehicles, and the growing oil and gas sector.
The key trends include growing infrastructural investments and the rapid urbanisation.
Type K, Type J, and Type R, among others are the different product types in the market.
The various raw materials include nickel, iron, copper, and platinum, among others.
The sensor types in the market are contact type and non-contact type.
The power generation, energy, chemical and petrochemical, automotive, metals and mining, and food and beverage, among others are the dominant applications of the market.
The key players in the India thermocouple market are Honeywell International Inc, ABB Ltd., Tempsens Instrument Pvt. Ltd., General Instruments Consortium, and S.R.I Electronics, among others.
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