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Market Size in USD Billion
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USD 97.47 Million |
| USD 114.21 Million | |
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Global Single Loop Controller Market, By Type (Temperature Controllers, Pressure Controllers, Level Controllers), Display Type (LCD, LED), Panel Cutout Size (1/4 Din, 1/8 Din, 1/16 Din, 1/32 Din), Application (Oil and Gas Plants, Petrochemical Plants, Power Plants, Chemical Plants, Iron and Steel Plants, Other) – Industry Trends and Forecast to 2029
Market Analysis and Size
The global market for single loop controllers is anticipated to skyrocket in the upcoming years due to their wide-ranging use in a number of industries, including power plants, petrochemicals, food and beverage production, and oil and gas. This market is expected to grow as a result of the introduction of hybrid temperature controllers and single loop controllers' increased capacity to communicate flexibly, improve process efficiency, and reduce waste.
Global single loop controller market was valued at USD 97.47 million in 2021 and is expected to reach USD 114.21 million by 2029, registering a CAGR of 2.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Temperature Controllers, Pressure Controllers, Level Controllers), Display Type (LCD, LED), Panel Cutout Size (1/4 Din, 1/8 Din, 1/16 Din, 1/32 Din), Application (Oil and Gas Plants, Petrochemical Plants, Power Plants, Chemical Plants, Iron and Steel Plants, Other)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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ABB (Switzerland), Fujitsu (Japan),Toshiba Corporation (Japan), Texas Instruments Incorporated (U.S.), Cree LED (U.S.), Aixtron (Germany), Mitsubishi Chemical Corporation (Japan), Eaton (Ireland),Siemens (Germany), Belkin International, Inc (U.S.), Aukey (China), Gizmochina (China), VisIC Technologies (Israel), Koninklijke Philips N.V. (Netherlands), VINA International Holdings LTD. (U.S.), GaN Systems Inc. (Canada), Epigan NV (Belgium) and Navitas Semiconductor Ltd.(U.S.)
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Market Opportunities
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Market Definition
The single loop controllers regulate thermal or process equipment when only one control loop or discrete devices are required. They are employed in power plants, oil refineries, iron and steel plants, process temperature, pressure, and other types of measurements from the sensor installed in power plants and send signals to control elements to regulate parameters like flow rate and temperature, and pressure within a predetermined range.
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
A single loop controller's benefits include the capacity to boost process effectiveness, cut down on lag time, and increase communication choices. Single loop controllers are used to effectively control temperature since temperature, one of the crucial characteristics, is considered during industrial processes and needs routine monitoring. Single loop controllers are crucial in the industrial sector because they enable automation, enhance product quality, and monitor and manage complicated processes from a single place. Therefore, remote and ongoing monitoring lowers the risk to human life and raises the whole system's level of safety and efficiency.
Furthermore, the factors such as expansion of iron and steel projects, need for petrochemicals and increased power generation capacity will accelerate the overall market expansion during the forecast period. Additionally, the market is expanding due to shifting energy trends such as rising interest in unconventional energy sources, a thriving power industry, and rising investments in power generation projects. The shifting trends of the manufacturing industry, rapid industrialization and urbanization, and the adoption of industrial automation are also expected to act as significant growth drivers for the single loop controller market.
Opportunities
The advent of the hybrid temperature controllers is estimated to generate lucrative opportunities for the market, which will further expand the single loop controller market's growth rate. This is one of the aspects that is anticipated to fuel growth potential in the single loop controller market due to its capacity to improve process efficiency, reduce the waste of the single loop controllers, and communicate with flexibility.
Additionally, the growing rate of technological progressions coupled with the uptake of technologies, such as smart factories and Industry 4.0 further offer numerous growth opportunities within the market. The need for single loop controllers has grown significantly as technologies continue to evolve. This has a significant positive impact on the single loop controller industry globally.
Restraints/Challenges
The single loop controllers are very costly, further derailing the overall market’s growth. Moreover, high maintenance costs and the initial cost of installation due to the growing necessity for huge capital for system further limit the global single loop controller market's expansion, which are further expected to obstruct market growth over the forecast period.
The market growth rate is estimated to be slowed down by the stagnant industrial growth particularly across developed regions. For instance, regions such as North America and Europe have limited industrial growth compared to the developing regions, which is estimated to be a significant challenge for the single loop controller market over the forecast period.
This single loop controller market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the single loop controller market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
The single loop controller market was immensely impacted by the outbreak of COVID-19. The demand for single loop controllers has decreased due to the stoppage of manufacturing operations. The market also incurred large losses due to the single loop controller's important involvement in the industrial sector's decreased demand during the lockdown period. The exact extent and scope of the challenge are currently impossible to assess. The global shutdown has caused a halt to many industrial processes and a disturbance in supply chains, which has significantly impacted the state of the single loop controller industry as a whole. The shutdown of the oil and gas, petrochemical, power, chemical, iron and steel, and other industrial facilities is reducing the revenue for the single loop controller market. The single loop controller market is anticipated to suffer as a result.
The single loop controller market is segmented on the basis of type, display type, panel cutout size and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Display Type
Panel Cutout Size
Application
The single loop controller market is analyzed and market size insights and trends are provided by country, type, display type, panel cutout size and application as referenced above.
The countries covered in the single loop controller market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the single loop controller market because of the presence of a well-established infrastructure within the region over the forecast period of 2022 to 2029. Moreover, the adoption of industrial automation solutions is further estimated to accelerate the expansion over the forecast period.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to increasing adoption of advanced technologies coupled with the large-scale industrialization and urbanization within the region. The growing manufacturing sector is also a significant contributor to the regional market expansion.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The single loop controller market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to single loop controller market.
Some of the major players operating in the single loop controller market are
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.