- The key vendors in the Control Technology Market in US 2014-2018 include Electric Co., Honeywell International Inc. and Rockwell Automation Inc.
London, 20 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Control Technology Market in US 2014-2018. The growth in the construction industry is one of the major trends in the market. The continuous recovery in the global economic conditions has boosted both the manufacturing and construction activities across the world, thereby propelling the need for control technologies in many industries.
Control technologies are the equipment processes or actions that are used mainly to control the level of pollution that emerges from industrial machines and appliances. They are utilized by various industries for accurate and reliable process control. Various types of control technologies are used across the Manufacturing and Non-manufacturing sectors. There is a high demand for control technologies across the Durable Goods, Non-durable Goods, HVAC and Refrigeration, Manufacturing, and Construction industries. The overall market is expected to grow at a CAGR of 2.82 percent during the forecast period of 2013-2018.
“The improving economic conditions in the US and the growth of the Manufacturing and Constructions sectors is expected to have a positive impact on the growth of the Control Technologies market in the US over the next few years,” says Faisal Ghaus, Vice President of TechNavio Research.
“Manufacturers are increasing their fixed investment in their business and plants driven by the growth prospects in the economy.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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