DUBLIN--(BUSINESS WIRE)--The "Single Loop Controller Market Type, Display Type (LCD, LED), Panel Cutout Size, Application (Oil & Gas Plants, Petrochemical Plants, Iron & Steel Plants, Power Plants, Chemical Plants), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
Key Benefits of Buying the Report
- This report segments the single loop controller market comprehensively and provides the closest market size projection for all subsegments across different regions.
- 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.
- The report helps stakeholders to understand the value-chain of the single loop controller market along with recent case studies.
- 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.
- Changing Energy Trends and Increasing Demand for Unconventional Energy Sources
- Booming Power Sector and Increasing Investments Toward Power Generation Projects
- High Initial Cost of Automating Manufacturing Plants and Requirement for Huge Capital for System Maintenance and Modification
- Stagnant Growth of Oil & Gas Industry
- Changing Trends of Manufacturing Industry in Middle East
- Stagnant Industrial Growth in Developed Countries in North America and Europe
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Single Loop Controller Market, By Type
7 Single Loop Controller Market, By Display Type
8 Single Loop Controller Market, By Panel Cut-out Size
9 Single Loop Controller Market, By Application
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
- ABB Ltd.
- Athena Controls
- Azbil Corporation
- Electronics Systems & Devices (ESD)
- Honeywell International Inc.
- Mitsubishi Electric Corporation
- PMA Controls India Ltd.
- PSG Plastic Service GmbH
- Sure Controls
- West Control Solutions
- Yokogawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/kxl8v1