The Asia-Pacific industrial electronic temperature controller market is expected to increase over the next five years at a 1 percent compound annual growth rate, while the EMEA and Americas markets decline.
The worldwide market for temperature controllers is in decline. Of the major geographic regions - Americas, Asia-Pacific and EMEA (Europe, Middle East and Africa) - only the Asia-Pacific region is experiencing growth in the temperature controller market, with forecasted growth of 0.7 percent though 2013, says VDC Research Group, Natick, Mass.
“Increasing global price competition, a maturing market for these products, a slowing global economy, and competing technologies are all contributing factors to the declining worldwide temperature controller market,” says Robert Torres, the primary VDC research analyst for the study, “Industrial Electronic Temperature Controllers: Global Market Demand Analysis, Tenth Edition.”
The Asia-Pacific industrial electronic temperature controller market is by far the largest at $389.9 million. It is expected to increase during the next five years at a 1 percent compound annual growth rate while the EMEA and Americas markets decline. One reason for the size and growth of the Asian market is that there are a large number of installations that are automating for the first time, the study noted. These implementations typically are less complex and require single-loop solutions.
On a unit basis, VDC expects that worldwide shipments will continue to increase somewhat for all the product types studied, except analog controllers. However, average selling prices for all are expected to decline.
Industrial electronic temperature controllers are being displaced in applications by other types, according to the study. “There continues to be a trend in temperature control from manual control, to temperature controllers and onto PLCs, PCs and DCSs,” says Jim Taylor, a VDC director.
For more information or to purchase the complete study report, visit www.vdcresearch.com.
