The global PID Controller Market is expected to be worth USD 250 Million in 2022. The demand for PID controllers is projected to expand rapidly, with a robust CAGR of 16.3% to reach a valuation of USD 1129 Million by 2032.
Due to the growing need for calculating, eradicating, and providing an effective method to obtain optimal control of systems, sales of PID controllers are anticipated to rise. In addition to this, the adoption of PID controllers is continuously surging in industrial control systems.
Smart PID controllers and hybrid PID controllers have recently been introduced, owing to ongoing technological advancements. In comparison to the traditional PID controllers, smart PID controllers and hybrid PID controllers have proven to be both more effective and cost-effective, which is likely to propel well for the market during the forecast period.
Demand for hybrid PID controllers is high due to their temperature control applications. In addition to this, its utilization in the oil and gas, as well as the food and beverage industries, is estimated to substantially impact the PID controller market size through 2032.
| Report Attribute | Details |
|---|---|
| PID Controller Market Value (2022) | USD 250 Million |
| PID Controller Market Anticipated Value (2032) | USD 1129 Million |
| PID Controller Market Projected Growth Rate (2022 to 2032) | 16.3% |
The PID controller market grew at a CAGR of 13.1% (2016 to 2021). Despite the moderate demand for PID controllers, the sales are growing at a healthy CAGR owing to its lower power consumption and widespread implementation. Its application in the mining sector is also anticipated to boost the PID controller's market share through 2032.
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The PID controllers market growth is anticipated to be impacted by the rising demand for hybrid temperature PID controllers in the oil and gas sector. Furthermore, the implementation of a hybrid temperature PID controller leads to lower prices and less power usage, which is likely to increase the demand for PID controllers.
The market for PID controllers is anticipated to rise due to the multifaceted applications of PID controllers in the food and beverage industry along with numerous other control systems. In addition to this, demand for PID controllers is estimated to remain high, since these are less expensive than PLC devices.
For a range of control tasks, there are affordable and potent PID controllers in the market today. The rising use of hybrid PID controllers for temperature control applications is a key PID controller market trend.
However, the PID controller market is likely to be limited from reaching its true potential on account of a couple of obstacles. It has been noted that there is a rising demand for PLC devices, which are used in industrial facilities due to their higher loop processing capacity and versatility. Hence, manufacturers are likely to choose PLC devices over PID controllers, which could hamper the potential of the market during the forecast period.
Overall, it can be anticipated that the demand for PID controllers is likely to follow an upward growth trajectory during the forecast period.
Over the years, there have been significant breakthroughs made in PID controller technology. Mechanical and pneumatic advancements, as well as electronic tubes, transistors, and integrated circuits, all lead to microprocessors. PID controllers, currently available in the market are microprocessor-based, which gives manufacturers the chance to include features like automatic tuning, gain scheduling, and continuous adaptation. As a result, it is anticipated to build opportunities for the PID controller market through 2032.
The complex automation system utilized for energy production and transportation is built using PID control in conjunction with logic, sequential functions, selectors, and basic function blocks.
Vendors are now able to reach higher sales numbers due to the development of smart PID and hybrid PID temperature controls. Due to all these factors, technological advancements and the creation of solutions are driving the PID controller market.
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Due to increased competition among PID controller market players given the concentration of established players, North America is predicted to hold a market share of 28% in 2022.
During the projection period, it is anticipated that the PID controller market in North America could expand at a notable CAGR. This is attributed to the wide-ranging industrial applications, the advantages of PID controllers, technological developments, and the growth of the manufacturing sector.
Europe is a crucial market, as it is concentrated with numerous key PID controller manufacturing companies. Furthermore, in 2022, it is anticipated to garner a market share of 20%. Industrial automation is becoming more prevalent, and the semiconductor industry is expanding quickly; both of which are likely to fuel the European PID controller market during the forecast period.
The existence of numerous manufacturers has led to a highly fragmented PID controller market on a global scale. To meet the growing demand, major players in the global market are concentrating on product launches and technical advancements.
PID controllers are being used more frequently in manufacturing facilities to determine error values and get useful insights, which, in turn, helps in boosting process efficiency. Businesses jointly participate in cooperative research initiatives, including areas like artificial intelligence, software, and sensors, an addition to business-focused product development.
For instance, ABB strives to balance their short-and long-term research and development operations in similar fields in order to maximize return on investment.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 16.3% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Industry vertical, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; The Asia Pacific excluding Japan; Japan; The Middle East and Africa |
| Key Countries Profiled | The USA, Canada, Brazil, Argentina, Germany, The UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC Countries, South Africa |
| Key Companies Profiled | ABB; Eurotherm (Schneider Electric); OMRON Corporation; Gefran; Calex Electronics Limited; TOPTICA PHOTONICS; Durex Industries; Enfield Technologies; West Control Solutions; Red Lion Controls, Inc |
| Customization | Available Upon Request |
The PID controller market is projected to have a CAGR of 16.3% through 2032.
North America is the fastest-growing PID controller market, with a share of 28% in 2022.
The PID controller market is expected to reach USD 1129 Million by 2032.
1. Executive Summary | PID Controller Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 5.1. Temperature PID Controller 5.2. Pressure 5.3. Flow 5.4. Motion 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Industry Vertical 6.1. Oil and Gas 6.2. Food and Beverages 6.3. Power 6.4. Chemical 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Eurotherm 15.2. ABB 15.3. OMRON Corporation 15.4. Gefran 15.5. Calex Electronics Limited 15.6. TOPTICA PHOTONICS 15.7. Durex Industries 15.8. Enfield Technologies 15.9. West Control Solutions 15.10. Red Lion Controls, Inc. 16. Assumptions & Acronyms Used 17. Research Methodology
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