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The outdoor thermometer market size is estimated to grow at a CAGR of 4.98% between 2022 and 2027. The market size is forecast to increase by USD 53.77 million. The growth of the market depends on several factors, including the rising demand for highly efficient digital outdoor thermometers, the increasing use of outdoor thermometers in end-user industries, and the increasing focus on emerging economies.
This outdoor thermometer market report extensively covers market segmentation by channel (retail chains and online), type (digital and analog), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising demand for highly efficient digital outdoor thermometers is driving growth in the outdoor thermometer market. One of the important parameters that may influence the effectiveness of thermometers is their accuracy in temperature measurement and control. In liquid-filled thermometers, the temperature is recorded on a ruler scale that is printed on the glass tube inside which the mercury is allowed to shrink or expand to denote changes in the temperature.
On the other hand, a digital thermometer uses a thermistor, thermocouple, or other sensors that can measure small temperature changes and display them in decimals. The demand for digital thermometers is increasing as they provide accurate temperature measurements, which will contribute significantly to the growth of the global outdoor thermometer market during the forecast period.
The adoption of innovative marketing strategies by companies is a key trend in the outdoor thermometer market. Companies are using various business strategies such as mergers and acquisitions (M&A), distribution partnerships, and improved customer service to boost sales, which can help them expand their business and strengthen their market position. The increasing demand for outdoor thermometers is encouraging leading vendors to expand their geographic reach, which can boost market growth.
Moreover, the new acquisitions will allow the company to step up its distribution capabilities and meet growing demand from regions that have not yet been explored. Therefore, the different business strategies adopted by market vendors will increase the sales of outdoor thermometers, hence, fueling the growth of the market during the forecast period.
The high risk of mercury contamination is a major challenge in the outdoor thermometer market. Liquid-filled glass thermometers are the most frequently used and traditional type of outdoor thermometer. These thermometers use mercury as the preferred liquid, as it can expand or shrink with temperature changes. Improperly releasing metallic mercury from thermometers into the environment can result in harmful consequences.
Though mercury thermometers are inexpensive, durable, and accurate, these products pose various safety and environmental hazards. Thus, the potential risks of mercury contamination could have a negative impact on the demand for these thermometers and reduce their sales. This will become a major challenge to the growth of the global outdoor thermometer market during the forecast period.
The market share growth by the retail chains segment will be significant during the forecast period. The market for indoor temperature instruments worldwide is characterized by a significant role played by the retail chain segment. With the increasing demand for outdoor thermometers, retail chains have become an essential channel for customers to access a wide range of outdoor thermometer products.
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The retail chains segment showed a gradual increase in the market share of USD 120.04 million in 2017 and continued to grow by 2021. Retail chains enable customers to check outdoor thermometers physically before making a purchase. Brick-and-mortar stores enable customers to have a tactile experience of products, which is missing on the Internet site, while at the same time allowing them to experiment with those products. It is expected to increase the demand for outdoor thermometers in the retail chain segment, which will propel the growth of the retail chain segment of the global outdoor thermometer market during the forecast period.
A digital thermometer is a popular type of outdoor thermometer that has several advantages over conventional analog thermometers. Digital outdoor thermometers are extremely portable and have permanent probes and a convenient digital display. The gradual decline in the demand for liquid-filled analog outdoor thermometers and the growing preference among customers for advanced products have created a favorable market for digital outdoor thermometers. The adoption by end users of these products is also increasing, thanks to features such as rechargeable energy sources and the possibility that temperature readings could be stored for later use. The widespread availability of digital thermometers in the market has a positive impact on the growth of the global outdoor thermometer market. The high availability of digital outdoor thermometer products is increasing their adoption rate, which will contribute significantly to market growth during the forecast period.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US and Canada were the major revenue contributors to the regional market, owing to the increasing industrial activities, the rising number of product launches, and the presence of both local and global companies. Besides, the presence of global vendors in the US drives market growth in the region.
However, in the industrial sector, the demand for outdoor thermometers is increasing due to the growing number of applications in the chemical, oil and gas, automotive, and metals and mining industries. In the chemical sector, outdoor thermometers provide enterprises with a quick and detailed overview of both electrical and mechanical component temperatures in order to monitor their storage tanks, insulate reactors, or carry out heating tests. Therefore, the growing demand for outdoor thermometers from the industrial sector is likely to drive the growth of the outdoor thermometer market in the region during the forecast period.
In 2020, all end-user industries of outdoor thermometers, such as water treatment, mining, chemical, and oil and gas, were severely impacted due to the stringent lockdowns imposed in the region to contain the spread of the pandemic. However, with the initiation of mass COVID-19 vaccination drives in 2021, the manufacturing sector's recovery was followed by a refocus on the integration of automation and IoT-enabled sensors into industrial processes. Such factors will lead to the growth of the market in focus in North America during the forecast period.
The Outdoor Thermometer Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Outdoor Thermometer Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ambient LLC - The company offers a wide range of thermometers such as Ambient Weather WS YG315 THERMOMETER Replacement Thermometer for WS YG315 which is designed with no moving parts for a longer service life.
BALDR Electronic - The company offers outdoor thermometers such as BALDR WS0341 indoor and outdoor thermometer hygrometer w backlight and BALDR wireless weather station digital thermometer and hygrometer indoor and outdoor touch screen temperature monitor humidity gauge with backlight.
Davis Instruments Corp. - The company offers outdoor thermometers such as Vantage Vue and Vantage Pro2.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The outdoor thermometer market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Outdoor Thermometer Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.98% |
Market growth 2023-2027 |
USD 53.77 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.5 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 33% |
Key countries |
US, Canada, China, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ambient LLC, BALDR Electronic, Chaney Instrument Co., Davis Instruments Corp., Esschert Design BV, Feingeratebau K. Fischer GmbH, Flinn Scientific Inc., Govee, Headwind Consumer Products, ExploraStore LLC, Honeywell International Inc., La Crosse Technology Ltd., Maverick Industries, Inc., Sainlogic High Tech Innovation Co., LTD, Springfield Instruments Inc., Taylor USA, Teledyne Technologies Inc., ThermoPro, Weems and Plath, and Whitehall Products |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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