Countering the Heat: A Look at the Growing $60.9 Million Heat Stress Monitor Market
With an anticipated value of USD 43.3 million in 2018, the global Heat Stress Monitor Market has demonstrated a noteworthy trajectory. With predictions to reach USD 60.9 million by 2023, showing a Compound Annual Growth Rate (CAGR) of 7.07% during the five-year period from 2018 to 2023, projections show that it is expected to increase significantly.
The demand for heat stress monitoring solutions is on the rise, which can be due to increased awareness and concern about heat-related health concerns in numerous industries. The market for heat stress monitors is poised for significant growth as businesses prioritise employee health and adherence to safety standards.
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Two important aspects are principally responsible for the market expansion for heat stress monitors. First, there has been a discernible increase in the use of heat stress monitoring technologies in the fields of athletics and military applications, where the performance and health of people in hot situations are of utmost importance. Second, the demand for such monitoring systems is being further fueled by the tightening of environmental and safety laws connected to heat stress management. Due to its crucial function in guaranteeing the wellbeing of people exposed to extreme heat conditions, the market for heat stress monitors is expanding as more businesses and organisations realise how important it is to protect human health and uphold safety requirements.
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Key market participants TSI (US), Nielsen-Kellerman (Kestrel Instruments) (US), REED Instruments (US), FLIR Systems (Extech) (US), and Romteck (Australia) dominated the heat stress monitor market in 2017. Due to their strong market presence, sizable client/customer base, sizable revenues, and notable developments in fields like new product innovations, geographical expansion, strategic company initiatives, partnerships, agreements, and mergers & acquisitions, these companies established their prominence in the market. These market leaders strategically used a number of techniques to stay competitive in the heat stress monitor market, including the release of new products, tactical acquisitions, and the formation of crucial partnerships, further strengthening their position in the market.
TSI, a significant player in the US market for heat stress monitors, was established in 1961 and has its headquarters in Minnesota. By making a large acquisition of 3M (US), a top producer of heat stress monitor products, in February 2018, TSI increased its footprint in the heat stress monitoring market. The QUESTemp heat stress monitors from 3M are noteworthy products because of their natural and waterless wet bulb technology. The product portfolio of TSI has been expanded thanks to this strategic purchase, which has also increased its market share in the heat stress monitoring industry.
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The Kestrel Instruments trademark is used by Nielsen-Kellerman, a major player in the heat stress monitor market, to sell their heat stress monitoring equipment. Nielsen-Kellerman, which was founded in 1978 and is based in Pennsylvania in the US, has a reputable name in the sector. Nielsen-Kellerman was acquired by Clearview Capital (US) in 2017, strengthening its position and expanding its resources. The business's dedication to offering trustworthy heat stress monitoring products under the Kestrel brand establishes it as a major rival in the market and highlights its dedication to quality and innovation.
In the market for heat stress monitors, Nielsen-Kellerman distinguishes out for its distinctive product lineup and cutting-edge strategy. A wide network of distributors helps the company reach its consumers in the US, Canada, the UK, China, Russia, UAE, South Africa, and France. The distinctive product portfolio that Nielsen-Kellerman offers distinguishes it from other market leaders. The business prioritises the creation of new products and ongoing innovation, making it one of the busiest and most progressive companies in the heat stress monitoring market. The introduction of the 5400 Heat Stress Tracker in November 2015, which was created to meet the unique requirements of the military, athletics, and occupational safety sectors, is an important illustration of this commitment by Nielsen-Kellerman to developing ground-breaking solutions suited to various market segments.
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