8/19/2003 - The worldwide market for industrial electronic temperature controller is expected to grow at a 1.4% compound annual rate, reaching $793.2 million in 2005, according to a recent Venture Development Corporation (VDC) study entitled "The Global Market For Industrial Electronic Temperature Controllers, Eighth Edition."
Principal reasons for the slow growth include difficult economic times, strong competition leading to price declines, and increasing competition arising from implementation of temperature control loops in DCSs, PLCs, and PCs, rather than in separate temperature controllers.
The study also found that:
The market for industrial electronic temperature controllers is highest in the Asia-Pacific region, followed by Europe and North America. Of these major geographic regions, the market in North America is expected to have the highest growth rate. However, a considerably higher growth rate is forecast for the much smaller South American market.Microprocessor-based single-loop controllers accounted for about 78% of the global market in 2002. The much smaller market for analog controllers, which accounted for less than 7% of the total in 2002, is expected to continue to decline as these products are displaced in applications by microprocessor-based types. The highest market growth rate is expected for microprocessor-based multi-loop types.
The strongest price pressure is forecast for the microprocessor-based single loop controllers, for which the worldwide average selling price is expected to decline at an average rate of 4% per year. Declining prices also are forecast for the microprocessor-based multi-loop controllers, with average selling prices for the analog controllers expected to increase slightly.
Founded in 1971, VDC is a technology market research and consulting firm that specializes in industrial and commercial electronics, computing, communications, software, and power systems markets.
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