Single Loop Controller Market estimated to be worth $103 million by 2024

(IT-NEWSWIRE.COM, November 04, 2021 ) The report "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", 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, increasing demand for unconventional energy sources, booming power sector, and growing investments toward power generation projects drive the growth of the market.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=12690310

Temperature Controller to hold the largest market share of the single loop controller market between 2019 and 2024
The demand for single loop temperature controllers is expected to grow at the highest CAGR between 2019 and 2024. The reason behind the high growth rate of temperature controllers is their extensive usage across several industries such as oil & gas, petrochemicals, food & beverages, and power plants. The growth of the single loop temperature controller market is also fueled by factors such as their ability to improve process efficiency, minimize waste, and flexible communication options and the introduction of hybrid temperature controllers as an alternative to a PLC device.

Oil & Gas plant to grow at the highest CAGR for single loop controller between 2019 and 2024
In oil & gas plants, safety and reliability are crucial factors. In these plants, many operations are performed simultaneously; all these operations need to be planned, scheduled, executed, and monitored on time. Hence, companies operating in the oil & gas industry are always looking for new ways to meet the increasing energy needs, cutting down their operating costs, and enhance the overall efficiency of the plant. The market for single loop controllers used in oil & gas plants is expected to record the highest CAGR during the forecast period.

North America to hold the major share of the single loop controller market in 2019
Rising demand for industrial control and factory automation solutions owing to the increasing adoption of automation in industries such as pharmaceuticals, chemicals, food & beverages, automotive, and aerospace & defense drives the demand for single loop controllers in North America. The need for tracking and monitoring real-time data, making industrial processes more visible, and managing production activities effectively is surging the demand for automation by industries in this region to enhance their production efficiency and reduce operational expenditure. Technologically, North America is one of the most advanced regions that use automation in the manufacturing process to produce goods in bulk quantities.

The major players in the single loop controller market include ABB (Switzerland), Honeywell (US), WEST Control Solutions (UK), Sure Controls (UK), Eurotherm (UK), Yokogawa (Japan), OMRON (Japan), Gefran (Italy), Mitsubishi (Tokyo), Azbil Corporation (Japan), PSG Plastic Service GmbH (Europe), and Carotek (US) among others.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com

Technology News & Search Engine

Single Loop Controller Market estimated to be worth $103 million by 2024