Compressor Control System Market

Date: 5/23/2016

Compressor Control System Market by PLC and SCADA Components, and Oil & Gas, Refining, Petrochemical, Power Generation, Metals & Mining, Water & Wastewater and Fertilizer Applications

The Global Compressor Control System Market Is Estimated to Reach USD 6.39 Billion by 2022, At A CAGR of 4.7% Between 2016 And 2022

  • By: marketsandmarkets.com
  • Publishing Date: April 2016
  • Report Code: SE 3170

The global compressor control system market is estimated to reach USD 6.39 Billion by 2022, at a CAGR According to MarketsandMarkets, the compressor control systems market is expected to grow at a CAGR of 4.7% between 2016 and 2022, from USD 4.60 Billion in 2015 to USD 6.39 Billion by 2022. The compressor control system market has a high growth potential in various applications; however, those in industries such as oil & gas, refining, and petrochemical has been remarkable, and this is one of the prime drivers, owing to which the market is emerging globally. Some other industries such as power generation, metals & mining, fertilizers, automobile, and cement are also expected to be large application areas for the compressor control system market in the near future.

The application of compressor control systems is expected to increase across various industrial segments in the coming years. Moreover, manufacturers are focused on increasing the efficiency and the overall performance of their plants, which is further expected to escalate the demand for compressor control systems. They increase the pressure of the natural gas through heat and allow it to be transported from the production facility through the supply chain to end users. Compressors are widely used in the oil & gas industry in various core activities, starting from the initial treatment of crude oil/natural gas to transporting it through pipelines. Reciprocating and centrifugal compressors are most prevalent in the oil & gas industry.

Compressor control systems have become a central component in the processes of many industries, such as oil & gas, refining, petrochemical, power generation, metals & mining, fertilizers, and so on. In these processes, the profitability is dependent on the efficiency and functionality of compressor controls. Owing to the number of technological advancements, engineering excellence, and diverse industrial requirements, a variety of compressors and controllers have been developed. Companies undertake continuous R&D to manufacture improved compressor control products.

The factors restraining the market are the high initial cost and timely maintenance of the compressor control systems, along with the volatility in oil & gas prices. Less R&D investments by the existing players in the last couple of years could impact the overall growth of the market. Further, fluctuations in the prices of raw materials can restrict the growth of the compressor control system market.

 Companies always aim to create requirement-specific products, improving the quality and designs, and reducing the product development cycle time & costs   Acquisitions and expansions are the key strategies adopted by players to achieve growth in the market. Apart from this, companies adopt strategies such as partnerships, agreements, and contracts to expand their product offerings and increase their market share.

Compressor Control Systems Market, by Application:

  • Oil & gas
  • Refining
  • Petrochemical
  • Power Generation
  • Metals & Mining
  • Fertilizers
  • Water & Wastewater
  • Others (Cement and Automotive)

Compressor Control System Market, by Component:

By Controlling Component

  • PLC
  • SCADA

By Networking Component

  • Switches
  • Gateways & Nodes