(MENAFN- Ameliorate Digital Consultancy)
According to the Market Statsville Group (MSG), the global single loop controller market size is expected to grow around USD 107.13 million by 2030 , at a CAGR of 1.24 % from 2022 to 2030.
Many industrial facilities use single-loop controllers, including power plants, oil refineries, petrochemical plants, chemical plants, and iron and steel factories. These controllers collect measurements from sensors for temperature, flow rate, pressure, and other measurement types and transmit instructions to control elements like valves to keep these values within the desired range. There is a controller for each control loop. In the modern industrial setting, single loop controllers are frequently utilized to control small plant facilities and act as a backup for distributed control systems.
Due to the advent of hybrid temperature controllers and single loop controllers' improved flexibility in communication, greater process efficiency, and less waste, this market is anticipated to expand.
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COVID – 19 Impact on the Global Single Loop Controller Market The COVID-19 pandemic has significantly impacted the global economy, affecting the single loop controller market as well. The discontinuation of industrial operations reduced the demand for single-loop controllers. The single loop controller's significant contribution to the industrial sector's lower demand during the lockdown period also resulted in significant losses for the market. The global shutdown has substantially damaged the health of the single loop controller market by stopping numerous industrial processes and disrupting supply networks. The single loop controller market's income has been impacted by the closure of the petrochemical, oil and gas, power, iron and steel, chemical, and other industrial facilities. As a result, the single loop controller market suffered a major setback due to COVID-19.
Global Single Loop Controller Market Dynamics Drivers : Expansion of Various Industrial Verticals During the projection period, factors such as the expansion of iron and steel projects, the need for petrochemicals, and increasing power generation capacity will speed up the market's overall expansion. The market is also growing due to changing energy trends, such as a rise in interest in unconventional energy sources, a booming power sector, and an increase in investments in projects for power generation. The market is expected to have considerable expansion due to the changing manufacturing sector trends, rising industrial and urbanization, and the adoption of industrial automation.
Restraints : Stagnant Growth and High Installation Cost The stagnating industrial expansion, particularly in developed nations, is predicted to reduce single-loop controllers' market growth rate. For instance, the single loop controller market is expected to face substantial challenges for the forecast period due to areas like North America and Europe having slower industrial growth than developing regions.
The single loop controllers are also quite expensive, which impedes the market's expansion as a whole. The global single loop controller market's expansion is further constrained by high costs of maintenance and the initial cost of deployment due to the growing need for large capital for systems.
Opportunities : Growing Prev ale nce of Hybrid Temperature Controllers According to estimates, introducing hybrid temperature controllers would open attractive market opportunities and accelerate the market's growth rate. Due to its ability to increase process efficiency, decrease single loop controller waste, and communicate with flexibility, this is one of the features that is projected to fuel growth potential in the single loop controller market.
Numerous market expansion prospects are also provided by the growing rate of technological advancements along with the adoption of technologies like smart factories and Industry 4.0. As technology advances, the demand for single-loop controllers has increased dramatically. Globally, this has a very good effect on the single-loop controller market.
Scope of the Global Single Loop Controller Market The study categorizes the single loop controller market based on type, display type, panel cutout size and application at the regional and global levels.
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By Type ( Sales, USD Billion, 2017 – 2030 )
Temperature Controller Pressure Controller Flow Controller
By Display Type ( Sales, USD Billion, 2017 – 2030 ) Liquid Crystal Display (LCD) Light Emitting Diode (LED)
By Panel Cutout Size ( Sales, USD Billion, 2017 – 2030 ) 1/4 DIN 1/8 DIN 1/16 DIN 1/32 DIN
By Application Outlook ( Sales, USD Billion, 2017 – 2030 ) Oil & Gas Plants Petrochemical Plants Chemical Plants Iron & Steel Plants Others
By Region Outlook ( Sales, USD Billion, 2017 – 2030 ) North America Europe Germany Italy France UK Spain Poland Russia The Netherlands Norway Czech Republic Rest of Europe
Asia Pacific China Japan India South Korea Indonesia Malaysia Thailand Singapore Australia & New Zealand Rest of Asia Pacific
South America Brazil Argentina Colombia Rest of South America
The Middle East & Africa Saudi Arabia UAE South Africa Northern Africa Rest of MEA
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Temperature Controller segment accounts for the largest market share during the forecast period by type Based on type, the market is bifurcated into temperature controllers, pressure controllers and flow controllers. In 2021, temperature controller segment accounts for the largest market share. In industrial settings, precise management of these variables is essential because automation, which enables smaller employees to monitor and control complicated processes from a central location, enhances product quality. Temperature controllers are used extensively in many different applications across various industries, including power plants, petrochemicals, food and beverage manufacturing, and oil and gas. The advent of hybrid temperature controllers as an alternative to a PLC device and its capacity to increase process efficiency, eliminate waste, and provide flexible communication choices are other reasons driving the growth of the single-loop temperature controller market.
Asia Pacific is projected to account for the highest CAGR during the forecasted period, by Region Based on the regions, the global single loop controller market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to account for the highest CAGR in the forecasted period due to the growing use of cutting-edge technology like Industry 4.0 and smart factories. In January, the Asia PMI sector output rankings were led by the autos and auto parts industry. The second and third fastest growing industries were goods for home and personal use, followed by machinery and equipment, metals and mining, and chemicals. Construction-related materials also experienced a modest increase as construction activity increased across numerous nations when lockdowns were lifted.
APAC has a high industrial automation solution adoption rate due to its expanding manufacturing industry. The single loop controller market in APAC is expanding as a result of the region's dense population, rising per capita income, extensive industry, and rapid urbanization.
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Key Market Players in the Global Single Loop Controller Market The global single loop controller market is quite competitive, with key industry players adopting strategies such as product development to strengthen their market positions.
Major players in the global single loop controller market are: abb ltd. yokogawa WEST Control Solutions Sure Controls Gefran eurotherm Epigan NV OMRON Azbil Corporation PSG Plastic Service GmbH Carotek Fujitsu Toshiba Corporation Texas Instruments Incorporated Mitsubishi Chemical Corporation Siemens Belkin International, Inc VisIC Technologies GaN Systems Inc. Navitas Semiconductor Ltd.
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