CHICAGO, Aug. 31, 2023 /PRNewswire/ -- The infrared thermography market for building inspection is expected to reach USD 606 million by 2028 from USD 445 million in 2023, at a CAGR of 6.4% during the 2023-2028 period according to a new report by MarketsandMarkets. The major factor driving the market growth of the infrared thermography market for building inspection is increasing emphasis on energy efficiency and sustainability that enable to be used in harsh environments and rise in non-destructive testing methods for various applications.
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120 - Tables
60 - Figures
220 - Pages
Infrared Thermography Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $ 445 million |
Estimated Value by 2028 | $ 606 million |
Growth Rate | Poised to grow at a CAGR of 6.4% |
Market Size Available for | 2019-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Million) and Volume (Thousand Units) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product, Solution, Platform, Building Type and Region |
Geographies Covered | Asia Pacific, Europe, North America and Rest of World |
Key Market Challenge | Data analysis and reporting complexity |
Key Market Opportunities | Growing demand for smart buildings |
Key Market Drivers | Increasing emphasis on energy efficiency and sustainability |
Electrical & HVAC systems segment to witness highest CAGR of the infrared thermography market for building inspection during the forecast period.
Infrared imaging is employed to inspect electrical systems and HVAC (Heating, Ventilation, and Air Conditioning) systems within buildings. It can identify overheating components, loose connections, and other potential issues before they lead to system failures or fires. Regular inspections using infrared cameras help prevent costly downtime and enhance the safety of the building's occupants. The growth of this segment is fueled by the critical importance of maintaining safe and reliable building infrastructure.
By product type, thermal cameras is anticipated to capture largest market share in infrared thermography market for building inspection
In the field of building inspection, thermal cameras have established themselves as vital instruments. Their capacity to unveil concealed problems through the identification of temperature fluctuations assists in promptly recognizing challenges such as insulation deficiencies, water ingress, and electrical irregularities. These cameras provide expedited and non-intrusive evaluations, thereby facilitating proactive maintenance strategies and economically viable remediations.
Handheld Devices by Solution Type hold the highest market share in infrared thermography market for building inspection.
The growth of handheld thermal cameras is driven by their portability, adaptability across industries, and ease of use. Industries ranging from construction and facility management to energy audits benefit from their ability to swiftly assess structural integrity, insulation quality, electrical systems, and more, leading to improved maintenance practices and efficient problem-solving.
Commercial vertical is expected to register the highest CAGR during the forecast period in infrared thermography market for building inspection.
Commercial buildings utilize thermal cameras for comprehensive building inspections to enhance maintenance, energy efficiency, and safety. These cameras are employed to identify issues like moisture intrusion, insulation deficiencies, electrical anomalies, and structural irregularities. By pinpointing temperature variations, thermal cameras aid in detecting hidden problems, optimizing energy usage, preventing electrical failures, maintaining HVAC systems, and ensuring safe working environments. Regular inspections with thermal cameras help identify and address issues before they escalate, reducing downtime and expenses.
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Asia Pacific is expected to register the highest CAGR during the forecast period in the infrared thermography market for building inspection.
Asia Pacific is expected to record the highest CAGR in the infrared imaging industry during the forecast period. China, Japan, and India are among the major countries driving the growth of the infrared thermography market for building inspection in Asia Pacific. The emerging economies of China and India are supporting the growth of thermographic inspections as the respective governments are encouraging investments from foreign players in this market.
The report profiles key players in infrared imaging companies such as Teledyne FLIR LLC (US); Fluke Corporation (US); Axis Communications AB (Sweden); Xenics nv. (Belgium); Zhejiang Dali Technology Co., Ltd. (China) and OPGAL Optronics Industries Ltd. (Israel).
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