Single Loop Controller Market Forecasts to 2024 - Stagnant Industrial Growth in Developed Countries in North America & Europe Challenge Growth
DUBLIN, June 25, 2019 /PRNewswire/ -- 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 global single loop controller market was valued at USD 94.4 million in 2018 and is projected to reach USD 103.2 million by 2024; it is expected to record a CAGR of 1.4% from 2019 to 2024.
This study has been undertaken to understand the dynamics of the single loop controller market while estimating and forecasting this market size. It also helps identify major types and applications of the single loop controller market in addition to geographic areas that are expected to provide various growth opportunities for the market.
Changing energy trends and increasing demand for unconventional energy sources drive the growth of the single loop controller market. To generate electricity, alternative and renewable energy sources are gaining importance in the energy sector due to the growing energy demands and increasing stringency in environmental regulations meant for pollution-intensive industries.
The need for increased capacity in power generation is a direct result of the rapidly growing population and industrialization. Municipal expenditures have also been increased in response to rapid urbanization in developing countries and effective maintenance of industrial activities, which is boosting the demand for controllers.
The growth of the single loop temperature controller market is also fueled by the factors such as the ability of these controllers to improve process efficiency, minimize waste, and flexible communication options, as well as the introduction of hybrid temperature controllers as an alternative to a PLC device.
Major players in the single loop controller market include ABB (Switzerland), Siemens (Germany), Honeywell (US), Yokogawa (Japan), OMRON (Japan), General Electric (US), Gefran (Italy), Mitsubishi Electric Corporation (Japan), and Azbil Group (Japan), among others.
Product launches and developments were the key strategies adopted by players to increase their share in the single loop controller market from 2016 to 2018. Product launches and developments together accounted for a share of 33.4%, while partnerships, collaborations, agreements, contracts, and joint ventures collectively accounted for 33.3% share of the total number of growth strategies adopted by players in the single loop controller market during 2016-2018.
Mergers and acquisitions collectively accounted for a share of 11.1%, while and expansions accounted for a share of 22.2% of the total number of growth strategies adopted during 2016-2018.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in Single Loop Controller Market
4.2 Single Loop Controller Market, By Type
4.3 Single Loop Controller Market, By Display Type
4.4 Single Loop Controller Market, By Panel Cutout Size
4.5 Single Loop Controller Market, By Region and Application
4.6 US Held Largest Share of Global Single Loop Controller Market in 2018
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Changing Energy Trends and Increasing Demand for Unconventional Energy Sources
5.1.1.2 Booming Power Sector and Increasing Investments Toward Power Generation Projects
5.1.2 Restraints
5.1.2.1 High Initial Cost of Automating Manufacturing Plants and Requirement for Huge Capital for System Maintenance and Modification
5.1.2.2 Stagnant Growth of Oil & Gas Industry
5.1.3 Opportunities
5.1.3.1 Changing Trends of Manufacturing Industry in Middle East
5.1.4 Challenges
5.1.4.1 Stagnant Industrial Growth in Developed Countries in North America and Europe
6 Single Loop Controller Market, By Type
6.1 Introduction
6.2 Temperature Controllers
6.3 Pressure Controllers
6.4 Level Controllers
7 Single Loop Controller Market, By Display Type
7.1 Introduction
7.2 LCD
7.2.1 LCD Display Type is Largely Used for Single Loop Controller
7.3 LED
7.3.1 High Efficiency and Low Energy Consumption Drives the Demand for LED Display
8 Single Loop Controller Market, By Panel Cutout Size
8.1 Introduction
8.2 1/4 Din
8.3 1/8 Din
8.4 1/16 Din
8.5 1/32 Din
9 Single Loop Controller Market, By Application
9.1 Introduction
9.2 Oil and Gas Plants
9.3 Petrochemical Plants
9.4 Power Plants
9.5 Chemical Plants
9.6 Iron and Steel Plants
9.7 Other Applications
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Growing Investment for Manufacturing High-Quality Products and Rising Adoption of Automation Technology Drive Single Loop Controller Market Growth in Us
10.2.2 Canada
10.2.2.1 Increasing Government Support for Adoption of Advanced Manufacturing Technologies Propel Single Loop Controller Market Growth
10.2.3 Mexico
10.2.3.1 Ongoing Developments in Process and Discrete Industries Boost Growth of Single Loop Controller Market
10.3 Europe
10.3.1 UK
10.3.1.1 Rising Adoption of Smart Manufacturing in UK Drives Single Loop Controller Market Growth
10.3.2 Germany
10.3.2.1 Rising Demand for Automation in Germany Drives Single Loop Controller Market Growth
10.3.3 France
10.3.3.1 Government Initiatives Toward Increasing Production Efficiency Fuel Demand for Single Loop Controllers in France
10.3.4 Italy
10.3.4.1 High Adoption of Smart Factory Solutions in Italy Drives Demand for Single Loop Controllers in This Country
10.3.5 Rest of Europe
10.4 APAC
10.4.1 China
10.4.1.1 Increasing Labor Costs in China Leading to High Adoption of Advanced Automation Solutions, Which, in Turn, Drives Single Loop Controller Market Growth
10.4.2 Japan
10.4.2.1 Ongoing Developments in Smart Manufacturing Processes in Country to Surge Demand for Single Loop Controllers
10.4.3 South Korea
10.4.3.1 Increasing Investments By Government Toward Development of Manufacturing Sector Promote Growth of Single Loop Controller Market
10.4.4 India
10.4.4.1 Make in India Campaign Encourages Growth of Manufacturing Industry, Thereby Surging Demand for Single Loop Controllers to Fulfill Controlling and Monitoring Requirements of Industrial Automation
10.4.5 Rest of APAC
10.5 Rest of the World (RoW)
10.5.1 South America
10.5.2 Middle East and Africa
10.5.2.1 High Adoption of Advanced Manufacturing Solutions in Oil & Gas Industry Drives Demand for Single Loop Controllers in Middle East and Africa
11 Competitive Landscape
11.1 Overview
11.2 Product Launches and Developments
11.3 Partnerships, Contracts, Agreements, and Collaborations
11.4 Mergers & Acquisitions
11.5 Competitive Leadership Mapping
11.5.1 Visionary Leaders
11.5.2 Dynamic Differentiators
11.5.3 Innovators
11.5.4 Emerging Companies
11.6 Strength of Product Offering (15 Companies)
11.7 Business Strategy Excellence (15 Companies)
12 Company Profiles
12.1 Key Players
12.1.1 ABB Ltd.
12.1.2 Honeywell International Inc.
12.1.3 West Control Solutions
12.1.4 Sure Controls
12.1.5 Eurotherm
12.1.6 Yokogawa Electric Corporation
12.1.7 Omron
12.1.8 Gefran
12.1.9 Mitsubishi Electric Corporation
12.1.10 Azbil Corporation
12.1.11 PSG Plastic Service GmbH
12.1.12 Carotek
12.2 Other Players
12.2.1 PMA Controls India Ltd.
12.2.2 Athena Controls
12.2.3 M-System
12.2.4 Electronics Systems & Devices (ESD)
For more information about this report visit https://www.researchandmarkets.com/r/mixmr8
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