The industrial temperature controller market is expected to increase from USD 2,178.50 million in 2023 to USD 3,415.40 million in 2033. The market is likely to register a 4.60% CAGR during the forecast period.
Global Industrialization is Accelerating the Growth of the Industrial Temperature Controller Market
Industrial temperature controllers are devices that help to maintain the temperature for heating or cooling processes regardless of the ambient temperature. The device assists in keeping a regular check on the temperature of the medium and adjusting it to the optimal temperature. If the medium reaches the predetermined point, these controllers turn off and restart if the temperature rises or falls.
One of the primary factors driving the growth of the industrial temperature controller market is the increased implementation of supportive government laws concerning laboratory safety. The increased emphasis on the miniaturization of their products to cater to numerous end-use sectors, as well as an increase in demand for industrial temperature controllers as smaller devices occupy less space and benefit a wide range of end users.
Temperature controllers are widely used in a variety of industries, including petrochemicals, general manufacturing, oil and gas, food and beverages, and power plants, to reduce costs and use as an alternative to programmable logic controller (PLC) devices due to their ability to reduce waste, improve process productivity, and provide manageable communication options.
Furthermore, the expansion of end-use sectors, an increase in investments, and fast industrialization all have a beneficial impact on the industrial temperature controller market. Additionally, technical developments in controllers provide profitable prospects to market participants during the projection period.
| Report Attribute | Details |
|---|---|
| Industrial Temperature Controller Market Value (2023) | USD 2,178.50 million |
| Industrial Temperature Controller Market Anticipated Value (2033) | USD 3,415.40 million |
| Industrial Temperature Controller Market Growth Rate (2023 to 2033) | 4.60% CAGR |
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The industrial temperature controller market accounted for USD 1,858.40 million in 2018 to USD 2,080.80 million in 2022, expanding at a 2.90% CAGR from 2018 to 2022.
A temperature controller is a device that accepts temperature sensors such as a thermocouple or RTD (resistance temperature detectors) as input and associates the measured temperature with the desired control temperature. The output is used to control equipment such as the heater or fan without the operator's involvement.
Temperature controllers are frequently used in steam requirements such as controlling product temperature and monitoring steam irregularities from boiling tanks because they are strong, dependable, easily installable, and tolerant of faulty steam conditions.
They automate the entire procedure, eliminating the possibility of human error in manual temperature control. This technology also helps to save time and reduce physician staffing expenditures. Temperature controls are used effectively in food preservation and plastic manufacturing because they are inexpensive, user-friendly, energy-efficient, and restrict excessive power consumption.
| Historical CAGR (2018 to 2022) | 2.90% |
|---|---|
| Forecast CAGR (2023 to 2033) | 4.60% |
As per the FMI analysts, a valuation of USD 3,415.40 million by 2033 end is estimated for the market.
| Year | Valuation |
|---|---|
| 2016 | USD 568.74 million |
| 2021 | USD 685.33 million |
| 2022 | USD 2,080.80 million |
| 2023 | USD 2,178.50 million |
| 2033 | USD 3,415.40 million |
A temperature controller is a piece of equipment that regulates temperature. It can adjust or maintain temperature without the need for human intervention. A controller is given input in the form of a thermocouple in a control system, and the input is compared to the desired temperature before the output is generated by a control compound.
The temperature controller constantly monitors and adjusts the temperature to the appropriate level. Temperature controllers are commonly used in enterprises and research organizations for a variety of purposes such as plastic production and packaging, food preservation, and heat treatment, among others. Numerous research institutions and businesses are investing in the development of well-organized temperature controllers.
The hybrid temperature controller and temperature controller communication capacity may contribute to the growth of the temperature controller market. Temperature controllers are becoming more popular due to their widespread use in numerous industries such as petrochemicals, food, pharmaceuticals, and oil and gas, among others. Moreover, the industry has had a positive impact during covid-19, as high precision temperature-controlled technology was introduced in Germany, which helped in manufacturing the test reagents of coronavirus.
Temperature controller reduction and the use of software to preserve data, present trend charts, and allow data logging are expected to drive market expansion throughout the projection period.
Principal Consultant
Rapid Industrialization on Global Scale to Propel Industrial Temperature Controller Shipments
The industrialization has increased substantially across the world owing to rising demand from the growing population and overall investments in the development of the world economy. This phenomenon has spawned a high demand for industrial equipment and devices.
Increasing demand for power generation is expected to propel sales of industrial thermostat controllers, industrial oven controllers, industrial thermostat switches, etc.
| Market Share | Market CAGR |
|---|---|
| United States | 20.40% |
| Germany | 2.50% |
| Japan | 8.20% |
| Australia | 3.00% |
| China | 5.10% |
| India | 6.70% |
| United Kingdom | 1.00% |
Increasing Industrialization to make East Asia a highly Rewarding Market for Industrial Temperature Controller Manufacturers
Market analysis for regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA) has been assessed in this revised FMI market study.
East Asia is anticipated to be a highly rewarding market for industrial temperature controllers over the forecast period. Currently, the East Asian industrial temperature controller market holds a dominant market share of 34.6% and is predicted to maintain a similar outlook through 2030.
Increasing industrial expansion supplemented by rising investments and supportive government initiatives is expected to boost the market growth in this region.
Meanwhile, South Asia and the Pacific regions account for a share of 19.6% in 2022. Shipments of industrial temperature controllers in these regions are anticipated to be driven by similar factors to that of the East Asian region.
The North American industrial temperature controller market is a highly lucrative market for industrial temperature controller manufacturers and presently holds a prominent market share of 22.2%.
Rising demand for intelligent industrial temperature control devices, increasing research and development activity, supportive government initiatives, and high government funding are expected to be the key factors influencing industrial temperature controller sales in this region.
Increasing demand for industrial temperature controllers from the food and beverages industry vertical in Europe is anticipated to be widely influenced over the forecast period. In 2022, European industrial temperature controller consumption accounts for 11.9% of the global industry landscape.
Increasing Investments in Industrial Sector to Boost Demand for Industrial Temperature Controllers
India is one of the leading economies in the temperature controller market and the healthcare industry has further enhanced its growth in test equipment, laboratory, and incubators, among others. Moreover, supportive government initiatives and rising investments in the industrial sector are anticipated to boost sales of industrial temperature controllers in the nation. Industrial temperature controller manufacturers can now focus on India and benefit from the untapped potential that the nation’s industrial sector has to offer.
Extensively Lucrative Industrial Sector to Provide Beneficial Setting for Industrial Temperature Controller Suppliers
China has a highly lucrative industrial sector and is well-known across the world for its manufacturing and production facilities. Government initiatives to boost industrial sector growth are attracting investments and this is expected to propel the demand for industrial equipment in the nation through 2030.
Increasing demand for automation and technological advancements in packaging, plastics, and food and beverage industries are driving the growth of industrial temperature controller sales in this nation.
Rising demand for power is projected to drive demand for products such as industrial thermostat controllers and industrial thermostat switches. Sales of temperature control sensors are also anticipated to fare well in China through 2033.
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Industrial temperature controller providers are focusing on research and development of new products to expand their product portfolio. Industrial temperature controller manufacturers are also ramping up launches of new innovative industrial temperature controllers to boost market presence.
Some Key Companies are as follows:
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 2,178.50 million |
| Market Size Value at End of Forecast (2033) | USD 3,415.40 million |
| Market Analysis | USD million for Value |
| Key Region Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; The Middle East & Africa (MEA) |
| Key Segments | By Product Type, By Category, By End Use, By Region |
| Key Companies Profiled | Fuji Electric; Panasonic; Omron Industrial; Analog Devices; Omega Engineering; Briskheat; ALTEC; Yokogawa Electric; Tempatron; Watlow; Autonics; Dwyer; Siemens; Honeywell; ABB Ltd.; Schneider Electric |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The current CAGR of the industrial temperature controller market is 4.60%.
The rising healthcare infrastructure in India is capturing a huge revenue in the global market.
Analog segment contributes a maximum share in the market.
The research laboratories holds a maximum revenue of the global market share.
From 2018 to 2022, the global market exhibited 2.90% CAGR.
1. Executive Summary | Industrial Temperature Controller Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. On/Off Controllers 5.2. Proportional Controllers 5.3. PID Controllers 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Category 6.1. Analog 6.2. Digital 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Metals, Mining & Metallurgy 7.2. Chemicals 7.3. Oil & Gas 7.4. Food & Beverages 7.5. Energy & Power 7.6. General Manufacturing 7.7. Research Laboratories 7.8. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Fuji Electric 16.2. Panasonic 16.3. Omron Industrial 16.4. Analog Devices 16.5. Omega Engineering 16.6. Briskheat 16.7. ALTEC 16.8. Yokogawa Electric 16.9. Tempatron 16.10. Watlow 16.11. Autonics 16.12. Dwyer 16.13. Siemens 16.14. Honeywell 16.15. ABB Ltd. 16.16. Schneider Electric 17. Assumptions & Acronyms Used 18. Research Methodology
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Industrial Temperature Controller Market
