Market Overview:
The global industrial thermostat market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy-efficient and automated systems across various industries. Additionally, the growing awareness about energy conservation is also propelling the demand for industrial thermostats. The global industrial thermostat market by type is segmented into electrical and digital. The electrical segment dominates the market, owing to its low cost and easy installation process as compared to digital thermostats.
Product Definition:
A thermostat is a device that senses the temperature of a system and actuates heating or cooling to maintain the desired temperature. Industrial thermostats are used in many industries, including food and beverage, automotive manufacturing, plastics processing, metalworking and HVAC.
Electrical:
Electrical is the heart of any industrial thermostat. It controls and monitors the temperature in an environment. The factors that propel market growth include growing demand for energy-efficient systems, increasing awareness among consumers about cost saving through usage of these products, government regulations to implement energy efficient standards and norms along with technological advancements by key players in this industry.
Digital:
Industrial thermostats are used to control the temperature of a machine or process. They are widely used in industries such as power generation, chemical processing, and manufacturing. Digital technology is increasingly being adopted by these industrial thermostat manufacturers owing to benefits offered in terms of accuracy and ease-of-use.
Application Insights:
The automotive application segment accounted for the largest revenue share of over 30% in 2017. The global demand for vehicles is growing significantly owing to rising middle-class population, increasing disposable income and changing lifestyle. As a result, the thermostat market is expected to witness significant growth in the automotive sector over the forecast period.
Mining was one of the prominent applications that accounted for a smaller share as compared to other segments on account of high capital investments involved in mining activities globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for industrial thermostats from various end-use industries, such as oil & gas, mining, food processing and others. This growth can be attributed to rising energy consumption in emerging economies of Asia Pacific including China and India.
China is one of the leading consumers of industrial thermostat owing to rapid urbanization coupled with growing manufacturing sector across various sectors such as automotive, construction equipment etc. Moreover, favorable government initiatives pertaining to adoption of energy-efficient technologies are anticipated to drive regional growth over the forecast period.
Growth Factors:
- Increasing demand for energy-efficient devices: The industrial thermostat market is expected to grow at a significant pace in the coming years owing to the increasing demand for energy-efficient devices. This is mainly because of the rising awareness among consumers about the benefits of using energy-efficient devices.
- Growing demand from developing countries: The industrial thermostat market is also expected to grow rapidly in developing countries, as there is a growing demand for these products from various industries in these regions.
- Rising adoption of smart technologies: The industrial thermostat market is witnessing a rapid growth due to the increasing adoption of smart technologies across different industries. This has led to an increase in the need for advanced and efficient cooling and heating systems, which are being fulfilled by industrial thermostats.
- Technological advancements: Industrial thermostats are becoming more sophisticated with each passing day with technological advancements such as cloud connectivity and big data analytics making their way into this sector. This is helping manufacturers offer better products that can cater to the needs of different industries effectively . 5) Growing concerns over environmental sustainability: There has been a growing concern among consumers about environmental sustainability in recent times, which has led them to adopt eco-friendly measures such as using energy-efficient devices wherever possible
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Thermostat Market Research Report
By Type
Electrical, Digital
By Application
Mining, Automotive, Oil & Gas, Others
By Companies
Thermo, Binder, VWR, Shel Lab, Sanyo, Hettich Lab, Memmert, Weiss, Heal Force, NuAire, Thermo, Manish Scientific, GENLAB
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
195
Number of Tables & Figures
137
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Thermostat Market Report Segments:
The global Industrial Thermostat market is segmented on the basis of:
Types
Electrical, Digital
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Mining, Automotive, Oil & Gas, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Thermo
- Binder
- VWR
- Shel Lab
- Sanyo
- Hettich Lab
- Memmert
- Weiss
- Heal Force
- NuAire
- Thermo
- Manish Scientific
- GENLAB
Highlights of The Industrial Thermostat Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electrical
- Digital
- By Application:
- Mining
- Automotive
- Oil & Gas
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Thermostat Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An industrial thermostat is a device used to control the temperature of an industrial process.
Some of the major players in the industrial thermostat market are Thermo, Binder, VWR, Shel Lab, Sanyo, Hettich Lab, Memmert, Weiss, Heal Force, NuAire, Thermo, Manish Scientific, GENLAB.
The industrial thermostat market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Thermostat Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial Thermostat Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Thermostat Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial Thermostat Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial Thermostat Market Size & Forecast, 2020-2028
4.5.1 Industrial Thermostat Market Size and Y-o-Y Growth
4.5.2 Industrial Thermostat Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Electrical
5.2.2 Digital
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Mining
6.2.2 Automotive
6.2.3 Oil & Gas
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial Thermostat Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Industrial Thermostat Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Electrical
9.6.2 Digital
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Mining
9.10.2 Automotive
9.10.3 Oil & Gas
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Electrical
10.6.2 Digital
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Mining
10.10.2 Automotive
10.10.3 Oil & Gas
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Electrical
11.6.2 Digital
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Mining
11.10.2 Automotive
11.10.3 Oil & Gas
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Electrical
12.6.2 Digital
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Mining
12.10.2 Automotive
12.10.3 Oil & Gas
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Electrical
13.6.2 Digital
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Mining
13.10.2 Automotive
13.10.3 Oil & Gas
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Industrial Thermostat Market: Competitive Dashboard
14.2 Global Industrial Thermostat Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Thermo
14.3.2 Binder
14.3.3 VWR
14.3.4 Shel Lab
14.3.5 Sanyo
14.3.6 Hettich Lab
14.3.7 Memmert
14.3.8 Weiss
14.3.9 Heal Force
14.3.10 NuAire
14.3.11 Thermo
14.3.12 Manish Scientific
14.3.13 GENLAB
