250 Pages Temperature Control Unit Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
The report offers actionable and valuable market insights of Temperature Control Unit. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Temperature Control Unit Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Temperature Control Unit market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Temperature Control Unit
This newly published and insightful report sheds light on Market Insights of Temperature Control Unit, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Temperature Control Unit Market.
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The temperature control unit market is poised to expand 1.8X in terms of value, at a CAGR of over 5% during the forecast period (2020 to 2030). Temperature control units are widely used in multiple industries such as plastics, food & beverages, pharmaceuticals, and chemicals, to name a few. These industries require precise and consistent heat transfer throughout their processes in order to have a controlled output, thereby raising the requirement for temperature control units.
Key Segments of Temperature Control Unit Market
Fact.MR’s study on the temperature control unit market offers information divided into four key segments-pump capacity, system, end-use industry, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Pump Capacity
- < 20 GPM
- 21-30 GPM
- 31-60 GPM
- > 60 GPM
System
- Water Type
- Oil Type
End-use Industry
- Plastics
- Food & Beverages
- Pharmaceuticals
- Printing
- Chemicals
- Energy
- Engineering & Mechanical
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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Temperature Control Unit Market: Competitive Landscape
The global temperature control unit market is fragmented in nature, with the presence of numerous local and regional players. Some of the players are WIKA Instrument, LP, FRIGEL FIRENZE S.p.A., EUROCHILLER S.r.l., and Carel Industries S.p.A. among others. Market players are focusing on expanding their footprints and increasing their product portfolio to gain a competitive advantage.
Examples of such expansion are: In 2019, Carel Industries S.p.A., opened a new plant in Suzhou, which is one of the innovative and important districts in China. With this new plant, the company is strengthening its production for the Chinese market, and also focusing on consolidating the group’s presence in the Asia Pacific region.
Over the forecast period, the growth of the temperature control unit market will be primarily influenced by demand from plastic, pharmaceutical, and food & beverage industries. In addition, industry users are transitioning from conventional heating and cooling systems to temperature control units in industrial applications, as these units allow precise temperature control. Further, the market in developing countries is expected to gain significant traction due to rapid urbanization and industrialization, which has led to increasing process manufacturing activities in these countries.
Key Takeaways from Temperature Control Unit Market Study
- Under the impact of COVID-19, the global temperature control unit market is expected to reach a market valuation of US$ 2.7 Bn by the end of 2030.
- By pump capacity, > 60 GPM (gallons per minute) temperature control units are projected to expand at a value CAGR of 6.7%, and to be valued 3.5X than < 20 GPM units by the end of 2020.
- By end-use industry, the pharmaceuticals segment is anticipated to expand 2.1X by 2030-end, gaining 293 BPS over the course of the forecast duration.
- By system, water-based temperature control units are projected to create an absolute $ opportunity of US$ 980 Mn from 2020 and 2030.
- By region, South Asia is expected to emerge as the fastest-growing temperature control unit market, and is projected to surpass a market valuation of US$ 620 Mn by the end of 2030.
“Despite the impact of COVID-19, recovery of the temperature control unit market is expected by the end of 2020. Post pandemic, swift growth in plastic, food & beverage, pharmaceutical, and chemical industries is expected to create high demand for temperature control units, thereby contributing to market growth,”says a Fact.MR analyst.
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More Valuable Insights on Temperature Control Unit Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Temperature Control Unit, Sales and Demand of Temperature Control Unit, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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