New York, NY, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Compressor Control Systems Market by Component (Controlling and Networking) and by Application (Oil & Gas, Refining, Petrochemical, Power Generation, Metals & Mining, Fertilizers, Water & Wastewater, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global compressor control systems market was valued at USD 4.84 billion in 2018 and is expected to reach USD 6.77 billion by 2025, at a CAGR of 4.9% between 2019 and 2025.
A compressor control system is used to control and regulate compressors as per an application's requirement. These systems are widely used in various applications across different industries, such as oil and gas, petrochemical, wastewater, and automotive, among others.
Browse through 37 Tables & 38 Figures spread over 110 Pages and in-depth TOC on “Global Compressor Control System Market: Component, Applications, Size, Industry Share, Analysis and Forecast, 2018–2025”.
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The global compressor control systems market is slated to grow rapidly in the future due to the technological advancements for developing advanced compressor control systems. The increasing demand for compressor control systems in various manufacturing industries is anticipated to further drive the compressor control systems market growth in the years ahead. Additionally, the various applications of compressor control systems in oil and gas, refining, and petrochemical industries are also projected to fuel the global compressor control systems market in the coming years. However, the fluctuating cost of raw materials may hinder the market in the future. Nonetheless, the rising demand for energy-efficient and compact compressors is estimated to offer new growth opportunities for the compressor control systems market.
The global compressor control systems market is divided based on component and application. By component, the global compressor control systems include controlling and networking components. The controlling components segment is divided into PLC, supervisory control and data acquisition (SCADA), and others. The networking components include switches, gateways and nodes, and others. The controlling components are projected to grow rapidly in the future, owing to the increasing product usage for refining and oil and gas industries. Networking components are likely to contribute a significant share toward the global market over the estimated timeframe. By application, the global compressor control systems include oil and gas, refining, petrochemical, power generation, metals and mining, fertilizers, water and wastewater, and others. The metals and mining segment is expected to witness significant growth in the years ahead. Additionally, the use of compressor control systems in oil and gas and petrochemicals are anticipated to grow rapidly in the future.
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The Asia Pacific compressor control systems market is projected to grow at the fastest pace in the upcoming years, owing to the emerging end-user industries across the region. The increasing demand for compressor control systems in mining, refining, wastewater treatment, and petrochemical sectors is estimated to drive the region’s compressor control systems market over the estimated timeframe.
North America dominated the global compressor control systems market in 2018. This can be attributed to the growing penetration of compressor control systems in various application sectors, such as mining, oil and gas, and wastewater treatment, and the presence of advanced infrastructure and the increasing exploration of new oil and gas reserves coupled with new governmental initiatives for shale gas exploration and production. Moreover, the rising use of air conditioning is anticipated to further propel the region’s compressor control systems market in the upcoming years.
Browse the full “Compressor Control Systems Market by Component (Controlling and Networking) and by Application (Oil & Gas, Refining, Petrochemical, Power Generation, Metals & Mining, Fertilizers, Water & Wastewater, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/compressor-control-system-marrket
Europe is the second largest regional market for compressor control systems and is expected to witness significant growth over the forecast time period. The European automotive industry is estimated to grow considerably, thereby, fuelling the demand for compressors. Thus, it is expected to spur the compressor control systems market over the review time period. The growing number of power generation plants across the region is further anticipated to propel the regional demand for compressor control systems in the future.
The Latin American compressor control systems market is expected to grow substantially in the years ahead, owing to the increasing compressor control systems demand in the refining industry and rapid industrialization in the region
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The Middle Eastern and African compressor control systems market is set to grow significantly in the upcoming years due to the increasing demand for compressor control systems in the oil and gas industry among several other manufacturing industries.
Some key players of the global compressor control systems market are Compressor Controls Corporation, ABB Limited, Atlas Copco, Schneider Electric SE, Rockwell Automation, Inc., Dresser-Rand, Siemens AG, Emerson Electric Co., Ingersoll Rand PLC, Mitsubishi Heavy Industries Ltd., and General Electric Co., among others.
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The report segments the global compressor control systems market into:
Global Compressor Control Systems Market: Component Analysis
- Controlling Components
- PLC
- Supervisory Control and Data Acquisition (SCADA)
- Others
- Networking Components
- Switches
- Gateways and Nodes
- Others
Global Compressor Control Systems Market: Application Analysis
- Oil and Gas
- Refining
- Petrochemical
- Power Generation
- Metals and Mining
- Fertilizers
- Water and Wastewater
- Others (Automotive and Cement)
Global Compressor Control Systems Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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