launchora_img

story twenty two

Info

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.

The inclusion of 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 players 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.

Key Takeaways from Industrial Temperature Controller Market Report

• The industrial temperature controller 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 due to 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 controller 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 due to their ability to make accurate predictions and reduce errors

“Stringent regulations regarding temperature control across industrial plants, food and beverage processing, transportation and storage of vaccines have been fuelling the demand for temperature controllers. Manufacturers are now focusing on developing and integrating new features for digital and PID temperature controllers due as end users seek out more advanced features to optimize production,” says an FMI analyst.

COVID-19 Impact Analysis

The COVID-19 pandemic has disrupted various industries including the industrial temperature controller market. The implementation of lockdown as well as transport bans have brought production to a halt due to the lack of raw materials. The 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.

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 controller market are Honeywell, Panasonic, Delta, Durex Industries, Xiamen Yudian, Jumo, Schneider Electric, Yokogawa Electric Corporation, ABB Ltd., Rockwell Autoation, Autonics, Tempatron, Omron Industrial, Fuji Electric Co., Omega Engineering, Analog Devices, Watlow, RKC Instruments and Siemens.

Access Full Report: https://www.futuremarketinsights.com/reports/industrial-temperature-controller-market 


Be the first to recommend this story!
launchora_img
More stories by Prince

Stay connected to your stories

story twenty two

28 Launches

Part of the Ideas collection

Published on July 27, 2022

Recommended By

(0)

    WHAT'S THIS STORY ABOUT?

    Characters left :

    Category

    • Life
      Love
      Poetry
      Happenings
      Mystery
      MyPlotTwist
      Culture
      Art
      Politics
      Letters To Juliet
      Society
      Universe
      Self-Help
      Modern Romance
      Fantasy
      Humor
      Something Else
      Adventure
      Commentary
      Confessions
      Crime
      Dark Fantasy
      Dear Diary
      Dear Mom
      Dreams
      Episodic/Serial
      Fan Fiction
      Flash Fiction
      Ideas
      Musings
      Parenting
      Play
      Screenplay
      Self-biography
      Songwriting
      Spirituality
      Travelogue
      Young Adult
      Science Fiction
      Children's Story
      Sci-Fantasy
      Poetry Wars
      Sponsored
      Horror
    Cancel

    You can edit published STORIES

    Language

    Delete Opinion

    Delete Reply

    Report Content


    Are you sure you want to report this content?



    Report Content


    This content has been reported as inappropriate. Our team will look into it ASAP. Thank You!



    By signing up you agree to Launchora's Terms & Policies.

    By signing up you agree to Launchora's Terms & Policies.