Increasing Disposable Income, Plastic Products Are Major Factors for Boosting Demand of Temperature Control Units and Expanding At a Significant CAGR of Nearly 4% at a Healthy Rate

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).

The temperature control unit market is poised to expand at a value CAGR of close to 5%, and is expected to create an absolute dollar opportunity of US$ 1.1 Bn during the forecast duration of 2020-2030. The outbreak of COVID-19 has decelerated the demand for temperature control units for various industrial applications due to the unavailability of components because of major supply chain disruptions. Further, government-mandated shutdowns of several end-use industries such as printing, chemicals, and engineering & mechanical are resulting in declining sales of temperature control units.

“With the ongoing COVID-19 crisis, demand for temperature control units will remain stagnant until the end of 2020. However, manufacturers are focusing on technological developments to increase the efficiency of temperature control units, increase their lifespan, and improve their aftermarket services, which will yield positive returns in the near future. Moreover, rising food & beverage sector and plastic industry in developing economies such as China and India is foreseen to bolster the growth of the temperature control unit market.”

To know the scope of our report Get a Sample on Temperature Control Unit Market: players in the temperature control unit market are WIKA Instrument, LP, FRIGEL FIRENZE S.p.A., EUROCHILLER S.r.l, Toshiba Machine Co., Ltd., Carel Industries S.p.A., HB-Therm GmbH, BOFA International Ltd., SINGLE Temperiertechnik GmbH, Berg Chilling Systems Inc., Mokon Systems, Temptek, Inc., and Advantage Engineering, Inc., among others. Prominent market players are focusing on expanding their manufacturing facilities to increase their reach in the global market. For instance,

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.

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