Global market size of IR Windows will be 330.66 million USD in 2022

In terms of revenue, the global market size of IR Windows was 194.17 million USD in 2016 and will be 330.66 million USD in 2022.

Publisher: QYResearch

Published Date: 2018/9/10

The use of infrared (IR) inspection windows in industrial applications has grown exponentially over the past five years. Much of the recent acceptance has coincided with the increase in the level of awareness regarding electrical safety and risk reduction. Organizations such as OSHA, NFPA, CSA, IEEE, ANSI and NETA have been at the vanguard of this movement.

The use of IR windows to facilitate safer, more efficient inspection of energized electrical equipment has outpaced the infrared industry in general. Today, switchgear manufacturers regularly install IR windows at the point‐of‐manufacture. This, in turn, has generated additional impetus for firms to retrofit existing equipment.

The key players are Fluke Corporation, FLIR Systems, IRISS, Grace Engineered Products, CorDEX Instruments, Square D (Schneider Electric), Exiscan and so on.

The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.

Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions’ unfair methods of competition.

Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.

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