The Global Temperature Controlled System Market size is expected to reach $2.2 billion by 2030, rising at a market growth of 3.7% CAGR during the forecast period.
The Asia Pacific region is undergoing rapid urbanization and population growth, driving demand for residential, commercial, and industrial infrastructure. Therefore, the Asia Pacific region captured $617.04 million revenue in the market in 2022. For example, as per the State Council of China, urbanization has accelerated rapidly throughout China in recent years, with the National Bureau of Statistics estimating that the rate increased to 64.72 percent last year.
The major strategies followed by the market participants are Mergers & Acquisition as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2024, Daikin Air Conditioning UK Ltd., a subsidiary of Daikin Industries, Ltd., completed the acquisition of British service company Robert Heath Heating Ltd. Through this acquisition, Daikin Air Conditioning UK strengthened its residential heating service network in the UK. Additionally, in June, 2023, Johnson Controls International PLC completed the acquisition M&M Carnot. Through this acquisition, Johnson Controls strengthened its capability to provide highly sustainable industrial refrigeration solutions, enhancing its ability to cater to the expanding clientele in this sector.
KBV Cardinal Matrix - Temperature Controlled System Market Competition Analysis
Based on the Analysis presented in the KBV Cardinal matrix; Siemens AG is the forerunner in the market. In October, 2021, Siemens AG took over Wattsense, a computer networking product manufacturing company. Through this acquisition, Siemens AG would enhance range of building automation solutions tailored for small and mid-sized buildings. Companies such as Honeywell International, Inc., Schneider Electric SE, Emerson Electric Co. are some of the key innovators in the market.
Market Growth Factors
Smart cities prioritize energy efficiency in buildings and infrastructure. Temperature-controlled systems, such as smart HVAC (Heating, Ventilation, and Air Conditioning), contribute to energy savings by optimizing heating and cooling operations based on occupancy, weather conditions, and building usage patterns. Thus, because of the development of smart cities and infrastructure, the market is anticipated to increase significantly.
Healthcare facilities, research laboratories, and biotechnology companies invest in temperature-controlled systems to preserve biological samples, tissues, and specimens for research, diagnosis, and treatment. Ultra-low-temperature freezers, cryogenic storage systems, and liquid nitrogen tanks provide the low-temperature environments necessary for the long-term preservation of biological materials, ensuring sample integrity and viability. Therefore, the market is expanding significantly due to the increase in healthcare expenditure.
Market Restraining Factors
Complex maintenance procedures and repairs can result in extended downtime for temperature-controlled systems. When equipment is out of service for maintenance or repair, businesses may experience disruptions in operations, reduced productivity, and potential losses in revenue. Extended downtime can also impact service level agreements and customer satisfaction, damaging reputations. Thus, complexity of maintenance and repairs can slow down the growth of the market.
By Type Analysis
On the basis of type, the market is segmented into open loop and closed loop control. In 2023, the closed loop control segment held 69.8% revenue share in the market. The precise temperature control provided by closed-loop systems helps maintain product quality and consistency throughout the supply chain. Higher consumer satisfaction and a better-known brand result from consistent temperature conditions, prolonged shelf life, and decreasing product quality variations.
By End User Analysis
Based on end user, the market is categorized into industrial temperature controlled system, home temperature controlled system, and others. The home segment garnered 32.8% revenue share in the market in 2023. As homeowners increasingly prioritize comfort and convenience, there's a rising demand for residential HVAC systems to maintain comfortable indoor temperatures throughout the year.
By Application Analysis
By application, the market is bifurcated into refrigerators, air conditioning, water heater, and others. In 2023, the refrigerators segment witnessed 32.9% revenue share in the market. Refrigeration systems are extensively used in the food industry to store and preserve perishable goods such as fruits, vegetables, dairy products, meats, and seafood. Maintaining optimal temperature conditions in refrigerated warehouses, cold storage facilities, and commercial refrigeration facilitates the extension of food products' shelf-life and the prevention of spoilage.
By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region acquired 30.7% revenue share in the market. North America experiences various climatic conditions, including hot summers and cold winters. The construction industry in North America is witnessing steady growth, with increasing residential, commercial, and industrial development projects.
Market Competition and Attributes
The market competition in the Temperature Controlled System Market is generally robust, driven by factors such as technological advancements, product innovation, regulatory compliance, and the increasing demand for temperature-controlled solutions across various industries. Key players in the market continuously strive to enhance their product offerings, expand their geographical presence, and strengthen their market position through strategic initiatives such as mergers and acquisitions, partnerships, and product launches.
Recent Strategies Deployed in the Market
- Mar-2024: Daikin Industries Ltd. unveiled an upgraded version of its Navigator WWV water-cooled screw chiller, now featuring a low-global warming potential (GWP) refrigerant, R-513A. Alongside its industry-leading performance, customers have the option to complement the new chiller with an optional Templifier TWV water heater, offering an energy-efficient and cost-effective heat recovery solution. This combination of utilizing a low-GWP refrigerant and integrating heat recovery capabilities empowers building owners and operators to reduce utility expenses while expediting their initiatives towards sustainability and decarbonization.
- Jan-2024: Daikin Air Conditioning UK Ltd., a subsidiary of Daikin Industries, Ltd., completed the acquisition of British service company Robert Heath Heating Ltd., a heating and gas services company. Through this acquisition, Daikin Air Conditioning UK strengthened its residential heating service network in the UK. Additionally, this acquisition assisted Daikin to become a total solutions provider in the heating, ventilation, air conditioning, and refrigeration (HVAC-R) market and deliver excellent customer experiences.
- Jan-2024: Carrier Global Corporation came into an agreement with Montana Technologies LLC, an atmospheric thermal energy and water harvesting technology company. Under this agreement, the companies introduced the AirJoule dehumidification and cooling technology of Montana. AirJoule's innovative dehumidification method significantly enhances the efficiency of air conditioning systems by extracting water and thermal energy from the air, thereby representing a notable advancement in the field.
- Oct-2023: Siemens AG came into a partnership with Microsoft Corporation, an American multinational technology corporation. Under this partnership, the Siemens Industrial Copilot, an AI-powered assistant used for improving collaboration between humans and machines, was introduced. Additionally, the partnership assisted in the combination of Siemens Teamcenter software and Microsoft Teams to develop the way for enabling the industrial metaverse.
- Jul-2023: AirReps, a subsidiary of Daikin Comfort Technologies North America, Inc., a subsidiary of Daikin Industries Ltd., completed the acquisition of Integrated Systems and Controls, LLC, a company providing hardware and software solutions, and InControl, a company providing a variety of services and applications. Through this acquisition, the companies satisfied the demand for integrated services in the commercial market. Additionally, the acquisition offered several services to the customers.
List of Key Companies Profiled
- Carrier Global Corporation
- Daikin Industries Ltd.
- Johnson Controls International PLC
- Siemens AG
- Emerson Electric Co.
- Honeywell International, Inc.
- Mitsubishi Electric Corporation
- Schneider Electric SE
- LG Electronics, Inc. (LG Corporation)
- Delta Electronics, Inc.
Global Temperature Controlled System Market Report Segmentation
By Type
- Closed Loop Control
- Open Loop
By End User
- Industrial Temperature Controlled System
- Home Temperature Controlled System
- Others
By Application
- Refrigerators
- Air Conditioning
- Water Heater
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Temperature Controlled System Market, by Type
- 1.4.2Global Temperature Controlled System Market, by End User
- 1.4.3Global Temperature Controlled System Market, by Application
- 1.4.4Global Temperature Controlled System Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
Chapter 4.Competition Analysis - Global
- 4.1KBV Cardinal Matrix
- 4.2Recent Industry Wide Strategic Developments
- 4.2.1Partnerships, Collaborations and Agreements
- 4.2.2Product Launches and Product Expansions
- 4.2.3Acquisition and Mergers
- 4.3Top Winning Strategies
- 4.3.1Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.3.2Key Strategic Move: (Mergers & Acquisition: 2020, Apr - 2024, Jan) Leading Players
- 4.4Porter's Five Forces Analysis
Chapter 5.Global Temperature Controlled System Market by Type
- 5.1Global Closed Loop Control Market by Region
- 5.2Global Open Loop Market by Region
Chapter 6.Global Temperature Controlled System Market by End User
- 6.1Global Industrial Temperature Controlled System Market by Region
- 6.2Global Home Temperature Controlled System Market by Region
- 6.3Global Others Market by Region
Chapter 7.Global Temperature Controlled System Market by Application
- 7.1Global Refrigerators Market by Region
- 7.2Global Air Conditioning Market by Region
- 7.3Global Water Heater Market by Region
- 7.4Global Others Market by Region
Chapter 8.Global Temperature Controlled System Market by Region
- 8.1North America Temperature Controlled System Market
- 8.1.1North America Temperature Controlled System Market by Type
- 8.1.1.1North America Closed Loop Control Market by Region
- 8.1.1.2North America Open Loop Market by Region
- 8.1.2North America Temperature Controlled System Market by End User
- 8.1.2.1North America Industrial Temperature Controlled System Market by Country
- 8.1.2.2North America Home Temperature Controlled System Market by Country
- 8.1.2.3North America Others Market by Country
- 8.1.3North America Temperature Controlled System Market by Application
- 8.1.3.1North America Refrigerators Market by Country
- 8.1.3.2North America Air Conditioning Market by Country
- 8.1.3.3North America Water Heater Market by Country
- 8.1.3.4North America Others Market by Country
- 8.1.4North America Temperature Controlled System Market by Country
- 8.1.4.1US Temperature Controlled System Market
- 8.1.4.1.1US Temperature Controlled System Market by Type
- 8.1.4.1.2US Temperature Controlled System Market by End User
- 8.1.4.1.3US Temperature Controlled System Market by Application
- 8.1.4.2Canada Temperature Controlled System Market
- 8.1.4.2.1Canada Temperature Controlled System Market by Type
- 8.1.4.2.2Canada Temperature Controlled System Market by End User
- 8.1.4.2.3Canada Temperature Controlled System Market by Application
- 8.1.4.3Mexico Temperature Controlled System Market
- 8.1.4.3.1Mexico Temperature Controlled System Market by Type
- 8.1.4.3.2Mexico Temperature Controlled System Market by End User
- 8.1.4.3.3Mexico Temperature Controlled System Market by Application
- 8.1.4.4Rest of North America Temperature Controlled System Market
- 8.1.4.4.1Rest of North America Temperature Controlled System Market by Type
- 8.1.4.4.2Rest of North America Temperature Controlled System Market by End User
- 8.1.4.4.3Rest of North America Temperature Controlled System Market by Application
- 8.2Europe Temperature Controlled System Market
- 8.2.1Europe Temperature Controlled System Market by Type
- 8.2.1.1Europe Closed Loop Control Market by Country
- 8.2.1.2Europe Open Loop Market by Country
- 8.2.2Europe Temperature Controlled System Market by End User
- 8.2.2.1Europe Industrial Temperature Controlled System Market by Country
- 8.2.2.2Europe Home Temperature Controlled System Market by Country
- 8.2.2.3Europe Others Market by Country
- 8.2.3Europe Temperature Controlled System Market by Application
- 8.2.3.1Europe Refrigerators Market by Country
- 8.2.3.2Europe Air Conditioning Market by Country
- 8.2.3.3Europe Water Heater Market by Country
- 8.2.3.4Europe Others Market by Country
- 8.2.4Europe Temperature Controlled System Market by Country
- 8.2.4.1Germany Temperature Controlled System Market
- 8.2.4.1.1Germany Temperature Controlled System Market by Type
- 8.2.4.1.2Germany Temperature Controlled System Market by End User
- 8.2.4.1.3Germany Temperature Controlled System Market by Application
- 8.2.4.2UK Temperature Controlled System Market
- 8.2.4.2.1UK Temperature Controlled System Market by Type
- 8.2.4.2.2UK Temperature Controlled System Market by End User
- 8.2.4.2.3UK Temperature Controlled System Market by Application
- 8.2.4.3France Temperature Controlled System Market
- 8.2.4.3.1France Temperature Controlled System Market by Type
- 8.2.4.3.2France Temperature Controlled System Market by End User
- 8.2.4.3.3France Temperature Controlled System Market by Application
- 8.2.4.4Russia Temperature Controlled System Market
- 8.2.4.4.1Russia Temperature Controlled System Market by Type
- 8.2.4.4.2Russia Temperature Controlled System Market by End User
- 8.2.4.4.3Russia Temperature Controlled System Market by Application
- 8.2.4.5Spain Temperature Controlled System Market
- 8.2.4.5.1Spain Temperature Controlled System Market by Type
- 8.2.4.5.2Spain Temperature Controlled System Market by End User
- 8.2.4.5.3Spain Temperature Controlled System Market by Application
- 8.2.4.6Italy Temperature Controlled System Market
- 8.2.4.6.1Italy Temperature Controlled System Market by Type
- 8.2.4.6.2Italy Temperature Controlled System Market by End User
- 8.2.4.6.3Italy Temperature Controlled System Market by Application
- 8.2.4.7Rest of Europe Temperature Controlled System Market
- 8.2.4.7.1Rest of Europe Temperature Controlled System Market by Type
- 8.2.4.7.2Rest of Europe Temperature Controlled System Market by End User
- 8.2.4.7.3Rest of Europe Temperature Controlled System Market by Application
- 8.3Asia Pacific Temperature Controlled System Market
- 8.3.1Asia Pacific Temperature Controlled System Market by Type
- 8.3.1.1Asia Pacific Closed Loop Control Market by Country
- 8.3.1.2Asia Pacific Open Loop Market by Country
- 8.3.2Asia Pacific Temperature Controlled System Market by End User
- 8.3.2.1Asia Pacific Industrial Temperature Controlled System Market by Country
- 8.3.2.2Asia Pacific Home Temperature Controlled System Market by Country
- 8.3.2.3Asia Pacific Others Market by Country
- 8.3.3Asia Pacific Temperature Controlled System Market by Application
- 8.3.3.1Asia Pacific Refrigerators Market by Country
- 8.3.3.2Asia Pacific Air Conditioning Market by Country
- 8.3.3.3Asia Pacific Water Heater Market by Country
- 8.3.3.4Asia Pacific Others Market by Country
- 8.3.4Asia Pacific Temperature Controlled System Market by Country
- 8.3.4.1China Temperature Controlled System Market
- 8.3.4.1.1China Temperature Controlled System Market by Type
- 8.3.4.1.2China Temperature Controlled System Market by End User
- 8.3.4.1.3China Temperature Controlled System Market by Application
- 8.3.4.2Japan Temperature Controlled System Market
- 8.3.4.2.1Japan Temperature Controlled System Market by Type
- 8.3.4.2.2Japan Temperature Controlled System Market by End User
- 8.3.4.2.3Japan Temperature Controlled System Market by Application
- 8.3.4.3India Temperature Controlled System Market
- 8.3.4.3.1India Temperature Controlled System Market by Type
- 8.3.4.3.2India Temperature Controlled System Market by End User
- 8.3.4.3.3India Temperature Controlled System Market by Application
- 8.3.4.4South Korea Temperature Controlled System Market
- 8.3.4.4.1South Korea Temperature Controlled System Market by Type
- 8.3.4.4.2South Korea Temperature Controlled System Market by End User
- 8.3.4.4.3South Korea Temperature Controlled System Market by Application
- 8.3.4.5Singapore Temperature Controlled System Market
- 8.3.4.5.1Singapore Temperature Controlled System Market by Type
- 8.3.4.5.2Singapore Temperature Controlled System Market by End User
- 8.3.4.5.3Singapore Temperature Controlled System Market by Application
- 8.3.4.6Malaysia Temperature Controlled System Market
- 8.3.4.6.1Malaysia Temperature Controlled System Market by Type
- 8.3.4.6.2Malaysia Temperature Controlled System Market by End User
- 8.3.4.6.3Malaysia Temperature Controlled System Market by Application
- 8.3.4.7Rest of Asia Pacific Temperature Controlled System Market
- 8.3.4.7.1Rest of Asia Pacific Temperature Controlled System Market by Type
- 8.3.4.7.2Rest of Asia Pacific Temperature Controlled System Market by End User
- 8.3.4.7.3Rest of Asia Pacific Temperature Controlled System Market by Application
- 8.4LAMEA Temperature Controlled System Market
- 8.4.1LAMEA Temperature Controlled System Market by Type
- 8.4.1.1LAMEA Closed Loop Control Market by Country
- 8.4.1.2LAMEA Open Loop Market by Country
- 8.4.2LAMEA Temperature Controlled System Market by End User
- 8.4.2.1LAMEA Industrial Temperature Controlled System Market by Country
- 8.4.2.2LAMEA Home Temperature Controlled System Market by Country
- 8.4.2.3LAMEA Others Market by Country
- 8.4.3LAMEA Temperature Controlled System Market by Application
- 8.4.3.1LAMEA Refrigerators Market by Country
- 8.4.3.2LAMEA Air Conditioning Market by Country
- 8.4.3.3LAMEA Water Heater Market by Country
- 8.4.3.4LAMEA Others Market by Country
- 8.4.4LAMEA Temperature Controlled System Market by Country
- 8.4.4.1Brazil Temperature Controlled System Market
- 8.4.4.1.1Brazil Temperature Controlled System Market by Type
- 8.4.4.1.2Brazil Temperature Controlled System Market by End User
- 8.4.4.1.3Brazil Temperature Controlled System Market by Application
- 8.4.4.2Argentina Temperature Controlled System Market
- 8.4.4.2.1Argentina Temperature Controlled System Market by Type
- 8.4.4.2.2Argentina Temperature Controlled System Market by End User
- 8.4.4.2.3Argentina Temperature Controlled System Market by Application
- 8.4.4.3UAE Temperature Controlled System Market
- 8.4.4.3.1UAE Temperature Controlled System Market by Type
- 8.4.4.3.2UAE Temperature Controlled System Market by End User
- 8.4.4.3.3UAE Temperature Controlled System Market by Application
- 8.4.4.4Saudi Arabia Temperature Controlled System Market
- 8.4.4.4.1Saudi Arabia Temperature Controlled System Market by Type
- 8.4.4.4.2Saudi Arabia Temperature Controlled System Market by End User
- 8.4.4.4.3Saudi Arabia Temperature Controlled System Market by Application
- 8.4.4.5South Africa Temperature Controlled System Market
- 8.4.4.5.1South Africa Temperature Controlled System Market by Type
- 8.4.4.5.2South Africa Temperature Controlled System Market by End User
- 8.4.4.5.3South Africa Temperature Controlled System Market by Application
- 8.4.4.6Nigeria Temperature Controlled System Market
- 8.4.4.6.1Nigeria Temperature Controlled System Market by Type
- 8.4.4.6.2Nigeria Temperature Controlled System Market by End User
- 8.4.4.6.3Nigeria Temperature Controlled System Market by Application
- 8.4.4.7Rest of LAMEA Temperature Controlled System Market
- 8.4.4.7.1Rest of LAMEA Temperature Controlled System Market by Type
- 8.4.4.7.2Rest of LAMEA Temperature Controlled System Market by End User
- 8.4.4.7.3Rest of LAMEA Temperature Controlled System Market by Application
Chapter 9.Company Profiles
- 9.1Carrier Global Corporation
- 9.1.1Company Overview
- 9.1.2Financial Analysis
- 9.1.3Segmental and Regional Analysis
- 9.1.4Research & Development Expenses
- 9.1.5Recent strategies and developments:
- 9.1.5.1Partnerships, Collaborations, and Agreements:
- 9.1.5.2Product Launches and Product Expansions:
- 9.1.5.3Acquisition and Mergers:
- 9.1.6SWOT Analysis
- 9.2Daikin Industries Ltd.
- 9.2.1Company Overview
- 9.2.2Financial Analysis
- 9.2.3Segmental and Regional Analysis
- 9.2.4Research & Development Expenses
- 9.2.5Recent strategies and developments:
- 9.2.5.1Product Launches and Product Expansions:
- 9.2.5.2Acquisition and Mergers:
- 9.2.6SWOT Analysis
- 9.3Johnson Controls International PLC
- 9.3.1Company Overview
- 9.3.2Financial Analysis
- 9.3.3Segmental & Regional Analysis
- 9.3.4Research & Development Expenses
- 9.3.5Recent strategies and developments:
- 9.3.5.1Acquisition and Mergers:
- 9.3.6SWOT Analysis
- 9.4Siemens AG
- 9.4.1Company Overview
- 9.4.2Financial Analysis
- 9.4.3Segmental and Regional Analysis
- 9.4.4Research & Development Expense
- 9.4.5Recent strategies and developments:
- 9.4.5.1Partnerships, Collaborations, and Agreements:
- 9.4.5.2Product Launches and Product Expansions:
- 9.4.5.3Acquisition and Mergers:
- 9.4.6SWOT Analysis
- 9.5Emerson Electric Co.
- 9.5.1Company Overview
- 9.5.2Financial Analysis
- 9.5.3Segmental and Regional Analysis
- 9.5.4Research & Development Expense
- 9.5.5Recent strategies and developments:
- 9.5.5.1Product Launches and Product Expansions:
- 9.5.5.2Acquisition and Mergers:
- 9.5.6SWOT Analysis
- 9.6Honeywell International, Inc.
- 9.6.1Company Overview
- 9.6.2Financial Analysis
- 9.6.3Segmental and Regional Analysis
- 9.6.4Research & Development Expenses
- 9.6.5Recent strategies and developments:
- 9.6.5.1Partnerships, Collaborations, and Agreements:
- 9.6.5.2Product Launches and Product Expansions:
- 9.6.6SWOT Analysis
- 9.7Mitsubishi Electric Corporation
- 9.7.1Company Overview
- 9.7.2Financial Analysis
- 9.7.3Segmental and Regional Analysis
- 9.7.4Research & Development Expense
- 9.7.5Recent strategies and developments:
- 9.7.5.1Partnerships, Collaborations, and Agreements:
- 9.7.5.2Acquisition and Mergers:
- 9.7.6SWOT Analysis
- 9.8Schneider Electric SE
- 9.8.1Company Overview
- 9.8.2Financial Analysis
- 9.8.3Segmental and Regional Analysis
- 9.8.4Research & Development Expense
- 9.8.5SWOT Analysis
- 9.9LG Electronics, Inc. (LG Corporation)
- 9.9.1Company Overview
- 9.9.2Financial Analysis
- 9.9.3Regional & Segmental Analysis
- 9.9.4Research & Development Expenses
- 9.9.5Recent strategies and developments:
- 9.9.5.1Product Launches and Product Expansions:
- 9.9.6SWOT Analysis
- 9.10.Delta Electronics, Inc.
- 9.10.1Company Overview
- 9.10.2Financial Analysis
- 9.10.3Research & Development Expense
- 9.10.4Recent strategies and developments:
- 9.10.4.1Partnerships, Collaborations, and Agreements:
- 9.10.4.2Acquisition and Mergers:
- 9.10.5SWOT Analysis
Chapter 10.Winning Imperatives of Temperature Controlled System Market