Wilmington, Delaware, United States, March 05, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global humidity meter market is projected to rise at a CAGR of 6.8% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 2.4 billion is anticipated for the market in 2031. As of 2023, the demand for humidity meters is expected to close at US$ 1.4 billion.
With growing awareness about the impact of indoor air quality on health and well-being, there's a rising demand for tools like humidity meters to monitor and maintain optimal indoor humidity levels. This trend is particularly evident in residential settings, where homeowners are becoming more proactive about creating healthy living environments.
Industries such as automotive and aerospace have stringent requirements for humidity control to ensure product performance and safety. The expansion of these industries, particularly in regions experiencing industrial growth, contributes to the increasing demand for humidity meters.
With the proliferation of smart home technologies and IoT (Internet of Things) devices, humidity meters are increasingly being integrated into home automation systems. This integration allows homeowners to monitor and control humidity levels remotely, enhancing convenience and comfort while optimizing energy usage.
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The burgeoning residential construction sector, valued at billions of dollars, serves as a significant catalyst propelling the growth of the humidity meter market. As the demand for new residential properties continues to surge, the need for reliable moisture measurement tools intensifies, driving market expansion.
The accurate measurement of moisture content in concrete floors is indispensable during the construction of residential units, large retail outlets, office complexes, and healthcare facilities. Excessive moisture in flooring can lead to detrimental effects such as overlay issues and the buckling or warping of finished floors, compromising structural integrity and aesthetics.
Key Takeaways from the Market Study
- As of 2022, the humidity meter market was valued at US$ 1.3 billion
- Based on the end-user, the automotive segment is expected to generate high revenue during the forecast period.
Humidity Meter Market: Key Trends and Opportunistic Frontiers
- Integration of humidity meters with IoT technology allows for remote monitoring and control, enabling real-time data analysis and predictive maintenance.
- Growing preference for wireless and portable humidity meters, especially in industries such as agriculture, HVAC, and healthcare. These solutions offer flexibility, ease of installation, and the ability to monitor multiple locations simultaneously.
- With a greater emphasis on energy conservation and sustainability, there's a shift towards humidity meters that contribute to energy-efficient HVAC systems and building management.
- Increasing applications in sectors such as agriculture, pharmaceuticals, food processing, and automotive are driving market growth.
Humidity Meter Market – Regional Analysis
- North America holds a significant share of the humidity meter market due to the presence of established industries and stringent regulatory standards.
- The United States, in particular, dominates the region's market, driven by the high adoption of humidity meters in sectors such as healthcare, pharmaceuticals, food processing, and HVAC systems. Technological advancements and the growing demand for smart home solutions further contribute to market growth in this region.
- The Asia Pacific region is experiencing rapid industrialization and urbanization, driving the demand for humidity meters in various sectors. Countries like China, Japan, South Korea, and India are witnessing robust growth in industries such as manufacturing, automotive, and electronics, where humidity control is critical.
- The rising focus on healthcare infrastructure and increasing concerns about indoor air quality in densely populated urban areas fuel the adoption of humidity meters in residential and commercial buildings.
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Competitive Landscape
Manufacturers in the humidity meter industry are making substantial investments in research and development endeavors to pioneer cutting-edge functionalities within their product offerings.
The manufacturers are collaborating with sensor manufacturers, technology companies, and industry players to integrate humidity-sensing technologies into existing products or develop new solutions tailored to specific market needs.
Key Market Players
- Amphenol Corporation
- Bright Medi
- BSK Technologies
- Checkline Europe
- E + E ELEKTRONIK GES.M.B.H.
- Fluke Corporation
- Michell Instruments
- Omega Engineering Inc.
- PCE Deutschland GmbH
- Rotronic AG
- S. L. Technologies
- Schaller Messtechnik GmbH
- TESTO India Pvt. Ltd.
- Vaisala
Product Portfolio
- Amphenol Corporation known for its innovative sensor technologies, Amphenol offers humidity sensors and measurement solutions suitable for various industrial and commercial applications.
- Bright Medi - specializes in providing precise humidity measurement devices for healthcare, pharmaceutical, and laboratory settings, ensuring optimal environmental conditions for sensitive materials and equipment.
- BSK Technologies - focuses on developing advanced humidity monitoring systems for industrial processes, HVAC systems, and environmental monitoring applications.
Humidity Meter Market – Key Segments
Type
- Absolute Humidity Sensor
- Relative Humidity Sensor
- Others
End Use
- Automotive
- Pharmaceuticals
- Industrial
- Building Automation
- Food & Beverages
- Agriculture
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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