Global Industrial Temperature Control Services Market 2017-2021
About Industrial Temperature Control Services
Temperature control services are the installation, repair, calibration, maintenance and the consultation services related to the temperature controlling devices such as thermocouples, thermistors, thermometers, RTDs, temperature sensors, thermostats, and pyrometers. Industrial services are the most important aspect of quality management system of the processes carried out in the structural, piping, mechanical, electrical, instrumentation, and civil domain. These services have the main objective of reducing operational costs, downtime or shutdowns, and enhancing productivity and efficiency of industries.
Technavio’s analysts forecast the global industrial temperature control services market to grow at a CAGR of 6.49% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial temperature control services market for 2017-2021. To calculate the market size, the report considers the temperature calibration and consultation services, and aftersales services market that are related to installation (testing and commissioning), repair, and maintenance..
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Temperature Control Services Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial temperature control services market: Aggreko, Schneider Electric, Thermo Fischer Scientific, and Yokogawa.
Other Prominent Vendors in the market are: Temperature Control Service, LBT Testing & Calibration, UNION Instruments, Independent Temperature Control Services, JULABO, and Rental Solutions & Services.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Shift from periodic to predictive calibration. In the industrial processes, there is a major need for maintaining the accuracy of instruments controlling the temperature of the processes and equipment. These factors lead to a high demand for temperature control services. Initially, there were instrument shops offering such services including calibration and instrument services, such as black body devices, deadweight testers, and handheld instruments, to calibrate instruments in the field. However, these instrument shops have vanished, and there is a rising trend of new service providers that offer instrumentation services.”
According to the report, one of the major drivers for this market is Increases the life span and operational efficiency of temperature control systems. Industries mainly focus on cutting down the overall operational expenses. Thus, a major part of the fixed budget is devoted to maintenance services of the systems installed in industries. Maintaining a proper schedule of maintenance services of temperature control systems such as chillers, HVAC, air handling units, air conditioners, cooling towers, fluid pumps, and heat exchangers will help in minimizing repair and replacement expenses and will increase the lifespan of the systems. The temperature control systems are responsible for maintaining the life of the instruments. Thus, the malfunction of an instrument can cause disturbance to the entire process of the industry.
Further, the report states that one of the major factors hindering the growth of this market is Market is highly fragmented. The global industrial temperature control services market is highly fragmented, which offers a major challenge for the vendors. The presence of such a substantial number of established vendors inflicts a huge barrier for the new entrants in the market. As the initial cost is low, many new small enterprises will get attracted. However, the presence of many vendors will offer a tough challenge for the new entrants and will not allow them to earn profits.
Aggreko, Schneider Electric, Thermo Fischer Scientific, Yokogawa, Temperature Control Service, LBT Testing & Calibration, UNION Instruments, Independent Temperature Control Services, JULABO, Rental Solutions & Services
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