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Global Industrial Temperature Control Services Market to 2027: Market is Set to Reach $3.1 Billion

Research and Markets
·3-min read

Dublin, Sept. 30, 2020 (GLOBE NEWSWIRE) -- The "Industrial Temperature Control Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Industrial Temperature Control Services Market to Reach US$3.1 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Industrial Temperature Control Services estimated at US$2.2 Billion in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2027, growing at a CAGR of 5.2% over the analysis period 2020-2027.

Calibration, Repair & Maintenance Services, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$1.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Installation Services segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 28% share of the global Industrial Temperature Control Services market.

The U. S. Accounts for Over 28.9% of Global Market Size in 2020, While China is Forecast to Grow at a 8.2% CAGR for the Period of 2020-2027

The Industrial Temperature Control Services market in the U. S. is estimated at US$625.1 Million in the year 2020. The country currently accounts for a 28.93% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$552.8 Million in the year 2027 trailing a CAGR of 8.2% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 4.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$552.8 Million by the year 2027.

Consultation Services Segment Corners a 16.9% Share in 2020

In the global Consultation Services segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$275.8 Million in the year 2020 will reach a projected size of US$366.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$420.4 Million by the year 2027, while Latin America will expand at a 5.7% CAGR through the analysis period.

The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:

  • Aggreko PLC

  • Independent Temperature Control Services, Inc. (ITC)

  • Julabo GmbH

  • LBT Testing & Calibration

  • Rental Solutions & Services

  • Schneider Electric SA

  • Temperature Control Service Inc.

  • Thermo Fisher Scientific, Inc.

  • UNION Instruments GmbH

  • Yokogawa Electric Corporation

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession

  • Global Competitor Market Shares

  • Industrial Temperature Control Services Competitor Market Share Scenario Worldwide (in %): 2018E

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 54

For more information about this report visit https://www.researchandmarkets.com/r/9hqp3f

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900