Global Industrial Temperature Controllers Market 2017-2021

Technavio’s market research analysts have predicted the global industrial temperature controllers market to grow to USD 812.5 million by 2021. It also presents a detailed segmentation of the global market by product (single/multi loop, hybrid, and analog), by end-user (food and beverage, plastics, chemicals, and others), and by geography (the Americas, APAC, and EMEA). This market research report identifies suppliers such as Omron, Eurotherm (Schneider Electric), ABB, and Honeywell to be the key vendors in the global industrial temperature controllers market.

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Overview of the global industrial temperature controllers market

Technavio’s market research analyst predicts the global industrial temperature controllers market is expected to project an impressive revenue of USD 813 by 2021. One of the key drivers for this market is the development of communication capability in temperature controller. There are many advancements in temperature controllers such as the reduction in the size of controllers and in communications it is the ability of the temperature controllers to control them remotely.  The communication feature allows the controllers to connect to a computer. Using these computers, the controllers can be programmed to set a temperature point and these can also be used to gather the data and can be used to analyse the functions of the machinery and decisions can be taken based on these inputs. These features of temperature controllers will significantly contribute to the growth of the global industrial temperature controllers market during the forecast period.

In terms of geography, EMEA accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. This growth of the industrial temperature controllers market in the region can be attributed to the high demand from the chemicals and food and beverage sectors. Moreover, the overall exporting and importing of temperature controllers is contributing further to the growth of the industrial temperature controllers market in the region during the next four years.

Competitive landscape and key vendors

The global industrial temperature controllers market is highly consolidated due to the presence of few vendors holding majority of the market share. Hybrid controllers are expected to drive the market in the coming few years. The market is highly saturated, which in turn, will pose a threat to the vendors operating in this market space.

Leading vendors in the market are –

• Omron
• Eurotherm (Schneider Electric)
• ABB
• Honeywell

Other prominent vendors in the industrial temperature controllers market include Watlow, Durex industries, Hanyoung Nux, and RKC instruments.

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Segmentation by product and analysis of the industrial temperature controllers market

• Single/multi loop temperature controller
• Hybrid temperature controller
• Analog temperature controller

During 2016, the single/multiloop temperature controller segment dominated the industrial temperature controllers market and accounted for a major part of the overall market share. The ability of most of the multiloop controllers to work with the help of a communication link which can be connected using an USB, Ethernet or wirelessly depending on the model is one of the major contributors to the dominance of this segment in the global market.

Segmentation by end-user and analysis of the industrial temperature controllers market

• Food and beverage
• Plastics
• Chemicals

In this market study, analysts have estimated the food and beverage sector to dominate the industrial temperature controllers market during the forecast period. The imperative requirement of the food and beverage industry to preserve food items at specific temperatures have contributed significantly to the growth of this segment in the industrial temperature controllers market. 

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Key questions answered in the report include:

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global industrial temperature controllers market?
• What are the key market trends impacting the growth of the global industrial temperature controllers market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial temperature controllers market?
• What are the market opportunities and threats faced by the vendors in the global industrial temperature controllers market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global industrial temperature controllers market?

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