In 2022, the market for PID controllers is anticipated to be worth $250 million USD. With a strong CAGR of 16.3%, it is anticipated that by 2032, the market for PID controllers will be worth US$ 1129 million.
Sales of PID controllers are expected to increase as a result of the expanding demand for calculating, eliminating, and providing an efficient method to obtain optimal control of systems. Additionally, the use of PID controllers in industrial control systems is rapidly expanding. Due to ongoing technological advancements, smart PID controllers and hybrid PID controllers have recently been introduced.
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PID Controller Market: Drivers and Challenges
An increasing demand for hybrid temperature PID controllers in the oil and gas industry is expected to have an impact on the growth of PID Controllers Market. Less power consumption and low costs associated with the adoption of hybrid temperature PID controller result into the increased demand.
Increasing applications in food and beverages industry and various other control systems is also expected to drive the growth of overall PID controller market. Besides these factors, PID controllers have gained traction and increased demand because of the low cost associated with it, in comparison to PLC devices.
The primary factor hampering the growth of PID Controller is the increasing demand and adoption of PLC devices due to PLC’s higher loop processing capacity and multiple functional ability in an industrial facility. Henceforth, the rising popularity and adoption of PLC devices restraints the growth of PID controllers.
PID Controller Market: Regional Overview
By geography, PID Controller market can be segmented across North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, Europe and Middle East and Africa are expected to dominate the global PID Controller Market during the forecast period, owing to the presence of high PID Controller manufacturers in the region. Furthermore, installation of new industries in conjunction with high demand for PID controllers also contribute for the same.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Key players
- ABB
- Eurotherm (Schneider Electric)
- OMRON Corporation
- Gefran
- Calex Electronics Limited
- TOPTICA PHOTONICS
- Durex Industries
- Enfield Technologies
- West Control Solutions
- Red Lion Controls Inc
Key segments
By Product Type:
- Temperature PID controller
- Pressure PID controller
- Flow PID controller
- Motion PID controller
By Industry Vertical:
- Oil and Gas
- Food and Beverages
- Power
- Chemical
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
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