Press release
Temperature Control Unit Industry is Anticipated to Grow at CAGR of 5% by 2030
This report on the temperature control unit market is basically a consequence of an intricate and robust research methodology activated during the accumulation of the report. In simple terms, it can be called as an inclusive two-step research process that covers primary and secondary researches capturing detailed insights from the temperature control unit market.
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Popularity of Water-Type Temperature Control Units Supporting Future Sales
Based on information acquired from this well-managed report, water-type temperature control units are gaining widespread acceptance across several industries owing to their reasonable pricing and broader operating temperature range. Furthermore, the expansion of compact and portable water type temperature control units are motivating the bolstering sales of the devices.
It is interesting to know that, demand for water-based temperature control units related to environmental control has received widespread perceptibility across a certain selection of industries like defense, temperature controlled logistics and life sciences. According to Fact.MR, the sales of water type temperature control units are likely to surpass 450000 units in 2019.
Advancing Oil and Gas Exploration Activities Likely to Present Profitable Opportunities
It is important to know that, temperature control is essential in maintaining the viscosity and flow property of petrochemical fluids. Moreover, it is also vital to ensure safe transportation and supply of these products. With extending energy crisis merged with improvements in fracking procedures, there is an expected drive in the production of petrochemical products in the near future.
The under-heating or overheating of crude oil and gas can unfavorably impact its quality, resulting in loss of valued components. With the progress of portable and compact temperature control units, various oil and gas companies can possibly regulate the temperature of transporting pipes and vehicles, thereby, ensuring the quality of crude oil. Amplification in on-shore and off-shore oil as well as gas exploration activities are likely to create lucrative opportunities for manufacturers operating in the temperature control unit market.
Competitive Outlook
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.
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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