Temperature Controller Global Market Report 2024

The temperature controller market size has grown steadily in recent years. It will grow from $1.21 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 2.9%. The expansion observed in the historical period can be attributed to the increasing utilization of packaged and processed food and beverages, the rising adoption of automation across various industries, the expansion of the pharmaceutical sector, the growing use of temperature-sensitive medical devices and equipment, and the demand for temperature controllers in environmental control systems.

The temperature controller market size is expected to see steady growth in the next few years. It will grow to $1.37 billion in 2028 at a compound annual growth rate (CAGR) of 2.5%. The anticipated growth in the forecast period can be ascribed to the development of communication capacity in temperature controllers, the increasing demand for heating, ventilation, and air conditioning (HVAC) systems, a rise in the demand for temperature-controlled storage and transportation, a growing need for temperature controllers in automotive manufacturing processes, and the adoption of temperature control systems in agriculture and horticulture. Key trends in the forecast period encompass the integration of IoT (Internet of Things) technology, wireless connectivity, compact designs, cloud-based solutions, and integration with SCADA (Supervisory Control and Data Acquisition) systems.

The anticipated rise in the demand for packaged food and beverages is set to drive the growth of the temperature controller market in the future. Packaged foods and beverages refer to products that undergo manufacturing and packaging for convenient consumption. Temperature control plays a crucial role in the packaging and processing of these products, ensuring safety, quality, and extended shelf life by minimizing microbial growth, enzymatic reactions, and deterioration. This process preserves the integrity of packaged and processed food and beverages. For example, in October 2023, Agriculture and Agri-Food Canada (AAFC), a Canada-based government department, reported that the exports of processed food and beverage products reached a historic high of $54.3 billion in 2022, showing a 14.1% increase from the previous year and constituting 34.7% of the total production value. Therefore, the growing demand for packaged and processed food and beverages is a key driver for the temperature controller market.

Prominent companies in the temperature controller market are concentrating on the development of innovative products, such as hot-runner temperature controllers, to enhance the efficiency and capabilities of their offerings. These controllers regulate and maintain precise temperatures in the hot runner system, ensuring optimal conditions for the injection molding process. For instance, in April 2022, PCS Company, a US-based provider of mold bases and mold components, introduced the TC50, a hot-runner temperature controller available in two configurations for six or 12 control zones. It features a 7-inch touch screen, self-diagnostics, zone slaving, mold memory, leak detection, and connectivity with injection presses for input/output functions. Additionally, it provides power balance detection and display, along with a group setup function, effectively coordinating the heating and cooling of nozzles and the manifold.

In October 2021, Trane Technologies Plc, an Ireland-based innovative low-pressure steam heating system company, acquired Farrar Scientific for an undisclosed amount. This strategic acquisition aims to expand Trane Technologies' presence in the growing healthcare manufacturing and bioprocessing markets. Farrar Scientific, a US-based company, specializes in providing ultra-low temperature control systems, primarily catering to the biopharmaceutical and life sciences sectors.

Major companies operating in the temperature controller market are Siemens AG, Panasonic Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd, Control Company, Emerson Electric Co., Delta Electronics Inc., Omron Corporation, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Watlow Electric Manufacturing Company, Banner Engineering, Cole Parmer, Omega Engineering Inc., Autonics Corporation, Selec Controls Pvt. Ltd., Dwyer Instruments Inc., Hammond Manufacturing Co. Ltd., Tempco Electric Heater Corporation, Durex Industries, BriskHeat Corporation, Onset Computer Corporation, RKC Instrument Inc., Elektronika Sales Pvt. Ltd., TEGAM Inc., West Control Solutions, Temperature Controls Pty Ltd, Meitav Tec Ltd., Hanyoung Nux Co. Ltd.

Asia-Pacific was the largest region in the temperature controller market in 2023. The regions covered in the temperature controller market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the temperature controller market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A temperature controller serves as a device employed to manage the temperature of a system or process by comparing a sensor signal with a set point and adjusting the output accordingly. It functions as an instrument that ensures a desired temperature is maintained by overseeing heaters, cooling systems, or other related equipment.

Temperature controllers are primarily categorized into analog, digital, and hybrid types. Analog temperature controllers utilize analog electronic components to regulate temperature based on continuous voltage or current signals, offering precise real-time adjustments according to continuous sensor readings. This type is well-suited for applications requiring smooth control without digital discretization. End users, including those in oil and gas, plastics, food and beverage, automotive, chemicals, energy and power, and other sectors, utilize analog temperature controllers for temperature control and monitoring.

The temperature controller research report is one of a series of new reports that provides temperature controller market statistics, including the temperature controller industry's global market size, regional shares, competitors with an temperature controller market share, detailed temperature controller market segments, market trends and opportunities, and any further data you may need to thrive in the temperature controller industry. This temperature controller market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The temperature controller market consists of sales of on/off temperature controllers, PID temperature controllers, programmable temperature controllers, industrial temperature controllers, and temperature control units. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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