India Thermal Imaging Market Outlook (2023-2029) COVID-19 Impact, Trends, Growth, Value, Analysis, Size, Revenue, Forecast, Industry, Share & Companies: Market Forecast By Technology, By Form Factor, By Applications, By Verticals, By Region And Competitive Landscape

India Thermal Imaging Market Synopsis

India Thermal Imaging market has grown significantly during the past years on account of initiatives such as the Production Linked Incentive scheme, the Make in India initiative along with an increase in defense spending and government support towards the industrial sector. Moreover, the market registered positive growth during the year COVID-19 pandemic as thermal cameras were used widely to detect human body temperature across airports, public spaces, and businesses as these were deployed for temperature screening and monitoring purposes to counter the spread of COVID-19. Moreover, in 2021, the revenue increased as thermal imaging technology played a crucial role in helping businesses and organizations implement infection control measures and enforce social distancing protocols.
According to this research, the India Thermal Imaging market size is projected to grow at a CAGR of 11.2% during 2023-2029F. The market is expected to witness growth in the coming years owing to the rising adoption of advanced thermal imaging cameras in the military and defense industry for night patrolling and combat operations which would boost the market growth. Moreover, the manufacturing sector of India has the potential to reach $1 trillion by the year 2025, which would boost the demand for thermal imaging in different industries such as petrochemicals, oil & gas, power utilities, and others across India. Moreover, the energy demand of India is anticipated to grow faster on the back of continuous economic growth, in addition to the rise in global primary energy consumption is projected to increase two-fold by 2035, thereby contributing to the rise in demand for thermal imaging cameras in these industries.

Market by Technology

In 2022, Uncooled technology accounted for a major revenue share in the India Thermal Imaging Market owing to its cost-effectiveness, and the uncooled thermal camera is stabilized at or close to room temperature, using less complicated temperature control elements. For instance, uncooled technology is widely used for medical monitoring, and government initiatives such as spending of $200 billion is expected to be spent by the year 2024 for medical infrastructure, thereby creating demand for uncooled technology in the forthcoming years.

Market by Form Factor

Handheld thermal imagers are widely used in electrical inspections, mechanical inspections, building diagnostics, and firefighting applications. Moreover, the increase in the use of handheld thermal imagers for the detection of body temperature, and to target treatment interventions, such as physical therapy, pain medication, or localized therapies, would boost demand for handheld in the future.

Market by Applications

In 2022, Security and Surveillance acquired a major revenue share in 2022 India thermal imaging market on account of an increase in border surveillance, marine surveillance, and deployment of thermal imaging cameras for security at airports. Moreover, the rise in defense spending which increased to around 13% from the previous year would contribute to demand for thermal imagers in security and surveillance.

Market by Verticals

In 2022, the Industrial sector acquired a major revenue share in India thermal imaging market owing to growing government initiatives such as Make in India, Startup India, and Production Linked Incentive scheme which has led to a surge in the manufacturing output of the country. Moreover, rise in government initiatives and investments such as in Budget 2022-2023, the government allocated Rs. 7,327 crores for the solar power sector including grid, off-grid, and PM-KUSUM projects, thereby contributing to demand for thermal imaging across the industry.

Market by Region

In 2022, the Northern region acquired a major revenue share in India thermal imaging market and the same trend will continue in the future due to the higher use of thermal cameras for surveillance purposes across northern states such as border areas of Jammu and Kashmir. Moreover, industrial clusters such as the Gurugram-Bhiwadi-Neemrana Corridor, Delhi-Mumbai Industrial Corridor, Noida - Greater Noida - Yamuna Electronics Manufacturing Zone, contribute to the demand for thermal imaging across the northern region.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• India Thermal Imaging Market Overview
• India Thermal Imaging Market Outlook
• India Thermal Imaging Market Forecast
• Historical Data and Forecast of India Thermal Imaging Market Revenues and Volume, for the Period 2019-2029F
• Historical Data and Forecast of India Thermal Imaging Market Revenues and Volume, By Technology, for the Period 2019-2029F
• Historical Data and Forecast of India Thermal Imaging Market Revenues and Volume, By Form Factor, for the Period 2019-2029F
• Historical Data and Forecast of India Thermal Imaging Market Revenues and Volume, By Applications, for the Period 2019-2029F
• Historical Data and Forecast of India Thermal Imaging Market Revenues and Volume, By Verticals, for the Period 2019-2029F
• Historical Data and Forecast of India Thermal Imaging Market Revenues, By Regions, for the Period 2019-2029F
• Market Opportunity Assessment
• Market Drivers and Restraints
• Market Trends
• Competitive Benchmarking
• Key Strategic Recommendations

Market Scope and Segmentation

• The report provides a detailed analysis of the following market segments:

By Technology

• Uncooled
• Cooled

By Form Factor

• Fixed-Mounted
• Handheld

By Applications

• Security and Surveillance
• Testing, Detection & Firefighting
• Other Applications (Human, Wildlife Animal Safety, Transportation)

By Verticals

• Defense/Military
• Commercial
• Industrial

By Region

• Northern
• Western
• Eastern
• Southern