The global single loop controller market size is slated to surpass a valuation of USD 101.3 million in 2023. It is anticipated to reach a valuation of USD 170.0 million by 2033. The market is predicted to thrive at a CAGR of 5.3% from 2023 to 2033.
In industrial automation systems, single loop controllers are frequently used to regulate temperature, pressure, flow, and level variables. Single loop controllers are in huge demand since automation continues to be adopted widely across a range of sectors to manage and maintain flawless process parameters.
Single loop controllers allow for setup and personalization attributes, which increases their adoption across industries. These controllers are an excellent tool for a variety of applications across various industries since they are easily programmable and customizable according to unique process requirements.
Many complex and feature-rich single loop controllers have emerged as a result of technological advancements, which are contributing to the market’s expansion. These improved controllers provide enhanced precision, quick reaction times, sophisticated control algorithms, and integration with digital communication protocols.
Stay Ahead of the Curve: Request Your Sample and Access Our Insightful Report!
https://www.futuremarketinsights.com/reports/sample/rep-gb-17395
Asia Pacific is predicted to dominate the global market, with China leading the region’s growth. Automation and control system technology has advanced significantly in China. The single loop controller market in China has grown as a result of the emergence of sophisticated control algorithms, sensor technologies, and digital platform integration.
Control systems are necessary for the effective functioning of China’s advancing infrastructure development projects, including its transportation networks, power plants, and smart cities. Single loop controllers are essential in these infrastructure projects for controlling numerous parameters.
Key Takeaways from the Single Loop Controller Market
- The global single loop controller industry size developed at a CAGR of 2.1% from 2018 to 2022.
- In 2018, the global market size stood at USD 91.0 million.
- The global market size valued at USD 99.0 million in 2022.
- The oil and gas plants segment is predicted to expand at 4.9% CAGR from 2023 to 2033.
- The temperature controller segment is anticipated to thrive at a CAGR of 5.1% during the forecast period.
- Single loop controller market in China is predicted to register a 6.7% CAGR during the forecast period.
- The market in Japan is estimated to expand at 5.5% CAGR during the forecast period.
- The market in the United States for single loop controllers is projected to expand at 3.7% CAGR from 2023 to 2033.
Competitive Landscape
The key players operating in the market strongly emphasize ongoing product research and innovation. To meet the changing demands of various sectors and applications, they make investments in research & development to improve performance, features, and functions.
Companies collaborate and develop strategic alliances with other market participants, including distributors, system integrators, and technology providers. These alliances assist businesses in utilizing their complementary capabilities, breaking into new markets, and growing their consumer base.
Key Players Operating in the Global Market
- ABB Ltd.
- Honeywell International PLC
- WEST Control Solutions
- Sure Controls Inc.
- Eurotherm Limited
- Yokogawa Electric Corporation
- OMRON Corporation
- Gefran S.p.A.
- Mitsubishi Motors Corporation
- Azbil Corporation
- PSG Plastic Service GmbH
- Carotek Inc.
- Others
Recent Development Observed by FMI:
- Azbil unveiled the C1A, a single loop controller with high accuracy and rapid reaction, in November 2022. The new launch aims to reduce the effort on workers from installation through maintenance. Despite having a tiny front panel size of 48 mm x 48 mm, the C1A achieves a high accuracy of 0.1% of the reading (for thermocouple or Pt100 RTD) and high-speed response with a sample cycle of 25 ms. It is also equipped with several labor-saving capabilities for production sites.
Power Your Business Growth: Invest in Key Insights with Our Report Checkout!
https://www.futuremarketinsights.com/checkout/17395
Single Loop Controller Market Segmentation
By Type:
- Temperature Controller
- Service
- Level Controllers
By Display Type:
- LCD
- LED
By Panel Cutout Size:
- ¼ Din
- 1/8 Din
- 1/16 Din
- 1/32 Din
By Application:
- Oil and Gas Plants
- Petrochemical Plants
- Power Plants
- Chemical Plants
- Iron and Steel Plants
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube