IR Windows Market Report Overview
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The global IR windows market size was USD 296.4 million in 2021 and is expected to reach USD 557.3 million in 2028, exhibiting a CAGR of 9.4% during the forecast period.
IR window is used to bifurcate environments of differing pressures or temperatures. It allows the light energy to pass between the two environments at some precise electromagnetic wavelength. They are also known as viewing panes and must or viewports. They need to pass the requirements of adequate strength for the type of equipment in which they are used. The compatibility of the IR windows and the equipment in which they are fitted also needs to be maintained. The IR windows come in various shapes and sizes. They can be square, round, rectangular, or custom.
IR windows allow the transmission of infrared radiation to the outside environment so that the data point can be recorded using a thermal camera. Electrical inspections need to be performed on equipment. IR windows collect real-time data under full load conditions without opening the panels, which provides safety to the employees working on the electrical equipment.
COVID-19 Impact: Halt of Operations to Impede Growth
The global COVID-19 pandemic has been unprecedented and staggering, with IR windows experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic has disrupted all areas of business and production. The lockdowns which were imposed halted production activities of IR windows. The major manufacturers and users of IR windows, North America and the Asia Pacific suffered enormously due to COVID-19, whether in terms of the number of people infected or the regression of the economy. The supply chain was completely disrupted and exports and imports were harder to manage. This led to reduced usage of IR windows in other parts of the world as well. Industrial activities were halted in many parts of the world so the production levels had considerably reduced in many areas. Factories are one of the major consumers of IR windows. This reduced production levels affected the IR windows market significantly.
Latest Trends
"Need to Reduce Workplace Injuries to Stimulate Demand"
There is a need to reduce workplace injuries in factories and industries. The factory labor may suffer from a number of injuries and workplace accidents while working. Thousands of machinery workers are injured or killed on the job while working on electrical equipment. They need to perform surveillance on fully loaded and energized machinery. This is done by opening the panel to collect the data and exposing the workers to electrical components. As it becomes mandatory to use IR windows in various industries around the world, the IR windows market growth is anticipated to rise simultaneously.
IR Windows Market Segmentation
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- By Type Analysis
On the basis of type, the IR windows market can be segmented into crystal material and polymer material. The leading segment in the market is crystal material.
- By Application Analysis
According to application, the IR windows market can be bifurcated into industrial use, laboratory use, and others. The industrial use segment dominates the market.
Driving Factors
"Better Data Management to Support Growth"
IR windows are used by employees working on electrical equipment during inspections. They are a systematic approach to collecting data from electrical equipment. It provided precise and accurate data. It provided data relating to the same target, same location, same angle, and same distance. There is a high level of consistency in data collected using IR windows. This consistency of data leads to better trends in the data and leads to better analysis of the data. This analysis can help in better interpretation of the machinery and equipment. This leads to an increased IR windows market share.
"Better Controlling of Risk to Augment Growth"
The use of IR windows allows the elimination of risk in the industry wherever possible. This is better for an organization as the accidents and risks are eliminated before it even happens. It paves the way for a non-intrusive work process. It allows for the collection of data without removing the panels. This reduces the risk of electrocution or an arc flash accident. It also prevents financial risk. It reduces the time used in inspections, as inspections do now require multiple staff to open and close the panels. It leads to better productivity and allows for more time for the production process. This is going to increase the IR windows market size in the coming years.
Restraining Factors
"High Cost and Availability of Alternatives to Affect Demand"
Despite rapid adoption across various industries, the demand for IR windows could be impacted by certain factors. These mainly include high cost of production and installation, and availability of cheaper, more affordable alternatives. Due to higher costs involved in the adoption of IR windows, their demand could be impacted to some extent. To overcome the cost challenge, industries may shift towards more cost-friendly alternatives, ultimately affecting the market growth.
IR Windows Market Regional Insights
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"North America to Dominate Led by Growing Industrial Expansion "
North America is the biggest consumer of IR windows. The region has a high number of industries that use IR windows. As the industries in the region further develops, the demand for IR windows will also increase. The Asia Pacific follows North America in terms of the consumption of IR windows. The Asia Pacific region has a huge number of manufacturing plants and factories that make use of IR windows. This is the reason why the region holds a major portion in the IR windows market share.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Fluke Corporation (U.S.)
- FLIR Systems (U.S.)
- IRISS (U.S.)
- Grace Engineered Products (U.S.)
- CorDEX Instruments (U.K.)
- Square D (Schneider Electric) (U.S.)
- Exiscan (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In | US$ 296.4 Million in 2021 |
Market Size Value By | US$ 557.3 Million by 2028 |
Growth Rate | CAGR of 9.4% from 2021 to 2028 |
Forecast Period | 2022-2028 |
Base Year | 2021 |
Historical Data Available | Yes |
Segments Covered | Type & Application |
Regional Scope | Global |
Frequently Asked Questions
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What value is the global IR windows market expected to touch by 2028?
The global IR windows market is expected to touch 296.4 million by 2028.
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What CAGR is the global IR windows market expected to exhibit by 2028?
The IR windows market is expected to exhibit a CAGR of 9.4% by 2028.
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Which are the driving factors of the global IR windows market?
The driving factors of the global IR windows market are better controlling of risk and better data management for the organization.
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Which are the top companies operating in the global IR windows market?
Fluke Corporation, FLIR Systems, IRISS, Grace Engineered Products, CorDEX Instruments, Square D (Schneider Electric), and Exiscan are the key companies operating in the IR windows market.