Temperature Control Unit Market Investigation Reveals Enhanced Growth during the forecast Period, 2018-2028

Fact.MR has published a new research report on global temperature control unit market sizes, upcoming industry trends and growth opportunity through 2018-2028 to its online database that tries to unveil the various scenarios prevailing in the temperature control unit market. This assessment delivers a smart compilation of primary and secondary data which provides a clear insight about the future plans expected to impact the temperature control unit market. This study comprises of prominent data which makes it a beneficial source for investors, analysts and industry experts to acquire necessary knowledge associated to the fundamental market trends, opportunities and growth drivers.

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Temperature Control Unit Market – Key Insights

• The temperature control unit market which registered a CAGR of 5% during the 2013-2017 period. The constant and sudden fluctuations in global temperatures in the last decade forced companies across industries to become heavily reliant on artificial devices for maintaining an optimal temperature vital to their production and manufacturing throughput and was one of the key factors driving the growth of the temperature control unit market.
• As a consequence of the intensifying competition across industries, the temperature control unit industry players were seen increasingly investing in enhancing the quality of their products. Revenues from the temperature control unit market surpassed US$ 1.5 billion in 2018, and are estimated to register a Y-o-Y growth of more than 5.0% in 2019.
• East Asia is expected to hold the bulk of the temperature control unit market share, with China estimated to remain at the forefront owing to the presence of an overwhelming manufacturing industry in the country.
• South Asia is expected to emerge as the high-growth market for the temperature control unit. The World Economic Forum has estimated the region to witness a robust growth in the foreseeable future, succored by the presence of a vast skilled workforce, healthy economic growth, and the strengthening purchasing power of consumers.

What are the Key Dynamics Influencing Growth of the Temperature Control Unit Market?

• Stringent regulatory norms, and elevating emphasis on reducing the adverse impact of industrial processes on the environment have been creating a surge in the demand for temperature control units, in light of their better efficiency with lower energy consumption. Consequentially, key players in the temperature control unit industry are accelerating research efforts into the development of affordable and energy-efficient temperature control units, which effectively fulfill the requirements of various industries.
• Manufacturers in the temperature control unit are increasingly incorporating the Industrial Internet of Things (IIoT) technology to streamline their operations. Demand for temperature control units which can be controlled remotely is estimated to rise significantly while the use of sensors for effective maintenance of the systems is increasingly gaining traction in the market.
• Integration of temperature control units with injection blow molding (IBM), a widely used technique in plastic manufacturing, is increasingly becoming popular in the plastic industry with the combination aiding in substantially reducing the rejection rate of finished products improving the throughput of the process while imparting the desired aesthetics to plastic components. Additionally, the development of novel manufacturing techniques in the plastic industry is demanding added control over the temperature of the production environment fuelling the growth of temperature control unit market.
• Accelerating demand for temperature control units is expected to stem from the surge in the manufacturing of specialty medications with the process requiring optimum temperature for production. In addition, pharmaceutical companies are integrating temperature control technology throughout the supply chain to prevent any changes in the physiochemical properties of the finished products.

Other leading players operating in the temperature control unit market include WIKA Instrument, LP, Single Temperiertechnik GmbH, Mokon Systems, Berg Chilling Systems, HB-Therm GmbH, Toshiba Machine Co., Ltd., EUROCHILLER S.r.l, Carel Industries S.p.A, Temptek, Inc., and Carel Industries S.p.A.

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The increasing demand for plastic in packaging, pharmaceuticals, food and beverages, and other industries is prompting manufacturers to accelerate production, while maintaining the quality of the products. Integration of blow molding machines with temperature control units is aiding manufacturers in the production of high-quality components at a faster rate which is, in turn, fueling the demand for portable and compact temperature control units with pump capacity 20GPM or less. Intensifying competition in plastic, food and beverages pharmaceuticals, printing, chemical, energy, engineering, and other industries is prompting companies to substantially amplify production which is a vital reason temperature control units with pump capacity greater than 60 GPM are finding widespread adoption.