Single loop controller market projected to grow at 9.3% CAGR during 2019–2024 The single loop controller market was valued at USD 94 million in 2018 and is expected to reach USD 103 million by 2024, at a CAGR of 1.4% from 2019 to 2024. Changing energy trends and increasing demand for alternative energy sources and booming power sector and increasing investments toward power generation projects drives the growth of the market.
Temperature Controller segment to grow at the highest CAGR between 2019 and 2024 Temperature is one of the most important measurement parameters that should be considered during industrial process monitoring and control.The cost-effectiveness of mass production and continuous processes require highly efficient operations due to tight profit margins.
This requires monitoring of installed systems and solutions at all the sites with reliable means to collect data and get timely alerts in case something goes wrong. 1/4 DIN held the largest market share of single loop controller market in terms of panel cutout size in 2019 1/4 DIN controllers are ideal for monitoring and controlling of process variables including temperatures, pressures, and levels in a wide range of applications that include ovens, environmental chambers, packaging machinery and plastic machinery in industries such as pharmaceuticals, power generation, automotive, and biotechnology. These controllers are highly reliable & accurate and significantly improve the efficiency and enhance the quality of a production plant. The 1/4 DIN size panel size saves space, and the panel with this size has an easy-to-operate human-machine interface that provides intuitive and effective control over the process variables.
APAC to grow at the highest CAGR during the forecasted period The adoption of industrial automation solutions in APAC is high due to the growing manufacturing sector in the region.The dense population and growing per capita income of this region, along with large-scale industrialization and urbanization, are the factors driving the growth of the single loop controller market in APAC.
The projected potential growth of the region is expected to open opportunities for the growth of the market over the next few years. In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews have been conducted with key industry experts in single loop controller marketspace. The break-up of primary participants for the report has been shown below: • By Company Type: Tier 1 – 40%, Tier 2 – 25%, and Tier 3 – 35% • By Designation: C-level Executives – 45%, Directors – 25%, and Others – 30% • By Region: North America – 55%, Europe – 20%, APAC – 15%, RoW – 10
The major players in the single loop controller market include Honeywell (US), ABB (Switzerland), WEST Control Solutions (UK), Eurotherm (UK), Sure Controls (UK), Yokogawa (Japan), Gefran (Italy), OMRON (Japan), Mitsubishi (Tokyo), PSG Plastic Service GmbH (Europe), Azbil Corporation (Japan), and Carotek (US) among others.
Research Coverage: This research report categorizes the global single loop controller based on type, display type, panel cutout size, application, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the single loop controller market and forecasts the same till 2024.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways: 1. This report segments the single loop controller market comprehensively and provides the closest market size projection for all subsegments across different regions. 2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. 3. The report helps stakeholders to understand the value-chain of single loop controller market along with recent case studies. 4. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes product launch, acquisition, collaboration, expansion, and partnership.
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