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Research Reports

Industrial Temperature Controller Market is growing with a healthy CAGR of 4.6% during the forecast period of 2020 – 2030

Published by Uma Rajagopal

Posted on January 12, 2022

Featured image for article about Research Reports

Increasing demand from industries such as food and beverages, the chemical industry, oil & gas sector, and others is expected to drive the industrial temperature controllers market, finds Future Market Insights (FMI) in a new study.

Including communication features to control devices remotely and the reduced size of equipment have been enabling the market to gain momentum. This trend will continue as market player’s focus on advancements in the communication process of devices to enable connection with a computer. This will, in turn, give access to data required for product optimization.

In the last couple of years, implementation of industrial temperature control has undergone several stages of evolution, starting from indigenous mechanical to microprocessor-based systems. With digital implementation of industrial temperature controllers gaining momentum, growth registered by the market is poised to surge in the coming years.

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Key Takeaways from Industrial Temperature Controller Market Report

The industrial temperature controlled market is expected to grow at a CAGR of 4.6% between 2020 and 2030
The market is predicted to reach a valuation of US$3 Bn by the end of 2030 because of increasing applications in the research and industrial sectors
East Asia is exhibiting growth at an impressive pace as governments across high potential markets increase their investment across various industries
Temperature controlled devices are being increasingly used in pharmaceutical and healthcare industry to ensure no irregularities in quality of vaccines during shipment
Intelligent temperature controllers have risen in popularity because of their ability to make accurate predictions and reduce errors

COVID-19 Impact Analysis

The COVID-19 pandemic has disrupted various industries, including the industrial temperature controlled market. Implementing lockdown and transport bans has brought production to a halt because of the lack of raw materials. This market experienced a significant drop in value from US$ 1,929 Mn in 2019 to US$1,910 Mn in 2020.

The market is however, expected to recover and showcase an upward trajectory 2021 onwards. Growing need for safe vaccine storage and food shipments is expected to increase demand in the market.

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Who Is Winning?

Increasing applications of industrial temperature controllers have been creating growth opportunities for players in the market. They are now focusing on producing advanced technologies to improve reading accuracies as well as ensure a safe working environment. New intelligent controllers are being introduced to boost temperature control rates and promote remote access.

For instance, Omron introduced NX-TC series with Artificial Intelligence (AI) in 2018. It is particularly designed for multi-loop applications and offers easier in-panel installation.

Some of the key players in the industrial temperature controlled market are Honeywell, Panasonic, Delta, Durex Industries, Xiamen Yudian, Jumo, Schneider Electric, Yokogawa Electric Corporation, ABB Ltd., Rockwell Automation, Autonics, Tempatron, Omron Industrial, Fuji Electric Co., Omega Engineering, Analog Devices, Watlow, RKC Instruments and Siemens.

Industrial Temperature Controller Market Segmentation

Product Type

On/Off Control
Proportional Control
PID Control

Category

Analog
Digital

End Use

Metals, Mining and Metallurgy
Chemicals
Oil and Gas
Food and Beverages
Energy and Power
General Manufacturing
Research Laboratories
Others

Regional Outlook

North America – U.S., Canada
Latin America – Mexico, Brazil, Rest of Latin America
Europe – Germany, Italy, France, U.K., Spain, Russia,
Rest of Europe
Middle East and Africa -Turkey, Northern Africa, South Africa, Rest of MEA
East Asia – China, Japan, South Korea
South Asia – India, Thailand, Malaysia, Indonesia, Oceania, Rest of South
Asia and Pacific

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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