The temperature control unit market is slated to grow at a CAGR of over 5% over the projected period, 2020-2030. The market growth will be mainly determined by demand from the food & beverage, pharmaceutical, and plastic industries.
"Despite the COVID-19 impact, the market recovery is anticipated towards the 2020 end. Post pandemic, rapid growth in food & beverage, plastic, chemical, and pharmaceutical industries is poised to generate higher market demand for temperature control units, thus contributing to market growth." says the Fact.MR report.
Temperature Control Unit Market - Key Takeaways
In terms of pump capacity, > 60 GPM will hold maximum sway in the market over the assessment period.
In terms of end-use, the plastic industry will gain traction in the global market, recording a 4% CAGR throughout 2020-2030
Based on the system, the water type category is likely to account for about 88% of the overall value prospects during 2020-2030.
South Asia and East Asia hold over 52% of the overall market share in 2020 and will increase by 2030 end.
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Temperature Control Unit Market - Driving Factors