Global Compressor Control Systems Market Size By Components (Controlling Components, Networking Components), By Applications (Oil & gas, Refining), By Geographic Scope And Forecast
Report ID: 30214|No. of Pages: 202
Global Compressor Control Systems Market Size By Components (Controlling Components, Networking Components), By Applications (Oil & gas, Refining), By Geographic Scope And Forecast
Compressor Control Systems Market Size And Forecast
Compressor Control Systems Market size was valued at USD 6.15 Billion in 2021 and is projected to reach USD 9.16 Billion by 2030, growing at a CAGR of 5.86% from 2023 to 2030.
Major factors driving the market growth include increasing product quality specifications for critical industrial processes, advances in technology and innovation, and the Compressor Control Systems Market. This growth is due to the diffusion and growth of technology across the manufacturing sector, where compressors are used in various applications. The Global Compressor Control Systems Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Compressor Control Systems Market Definition
A compressor control system is a device or group of devices used to control the speed or pressure of a compressor. The purpose of the compressor control system is to maintain desired operating conditions in the compressed air system. A compressor control system is a system that controls the speed and operation of compressors in industrial plants—used to maintain constant pressure levels in air or gas supplies to optimize plant efficiency. It also monitors and adjusts the compressor speed to maintain the desired pressure level.
A compressor system consists of a motor, a compressor sensor that protects and controls the compressor, and a compressor instrument panel that oversees its operation. Smaller and simpler ones, such as Single-phase air compressors, are available from multiple retailers. Others are designed to meet specific process requirements and packaged for customer needs. Compressor and motor protection are priorities for any compressor control system, as compressor failure can have serious consequences.
One of the key features of the CCC Performance Control application is its fully automated loading and unloading sequence. Seamless transitions within the primary and restrictive loops are fixed coordinate systems for controlling changing molecular weights and changing process conditions. High-quality compressor control can reduce unit idle time, improve unit capacity and extend compressor life, thus reducing costs and increasing competitiveness. Adding machine status indications and additional instrumentation improves decision-making and overall unit energy efficiency.
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Global Compressor Control Systems Market Overview
The primary factor driving the market growth is the spread of technology and the rise of the manufacturing sector, where compressors are used in many applications. Compressor control systems are an integral part of many industrial processes. Compressors are used in various applications, from large manufacturing plants to small machine shops. These control systems are integrated into the compressor depending on the type of application used.
Technology advancements have led to the development of advanced compressors and compressor control systems for custom applications, making them more reliable, effective, and environmentally friendly. Modern applications, technologies, and extensive supply chains are increasing the purchasing power of end-users, which will drive the growth of the Compressor Control Systems Market in the coming years. Compressor control systems find essential applications in the power generation, petrochemical, metals and mining, oil and gas, and refining industries.
The use of compressor systems in the petroleum industry, such as oil and gas and refineries, is expected to increase sharply during the forecast period. Expanding gas production from shale gas basins is expected to impact the Compressor Control Systems Market positively and offer several opportunities for market growth. Manufacturers focus on improving compressor reliability and efficiency to gain a competitive advantage. Rising research and development spending and innovation are expected to be a core business strategy during the estimated period.
Global Compressor Control Systems Market: Segmentation Analysis
The Global Compressor Control Systems Market is segmented on the basis of Components, Applications, and Geography.
Compressor Control Systems Market, By Components
- Controlling Component
- Networking Component
Based on Components, the market is bifurcated into Controlling Components and Networking Components. The compressor control system can be segmented into controlling components into PLC, Supervisory Control and Data Acquisition (SCADA), Human Machine Interface (HMI), and other components such as transmitters, sensors, valves, actuators, drives, and motors. SCADA stands for Supervisor Control and Data Acquisition. It is a control system used to monitor and control industrial processes. It is typically used in factories, power plants, and other extensive industrial facilities. Also, it is used in several industries, including power generation, oil and gas extraction and refining, and water and wastewater treatment plants.
Compressor Control Systems Market, By Applications
- Oil & gas
- Refining
- Petrochemical
- Power Generation
- Others
Based on Applications, the market is bifurcated into Oil & gas, Refining, Petrochemicals, Power Generation, and Others. The Oil & gas segment holds a large number of share the market because of the increasing demand for crude oil and natural gas from emerging markets such as China, India, Mexico, and Brazil, which is expected to boost the growth of the Compressor Control Systems Market. Also, increased investment from companies such as StatoilHydro ASA (Statoil), Repsol YPF SA (Repsol), and Royal Dutch Shell plc could spur industry expansion.
Compressor Control Systems Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Regional Analysis, The Global Compressor Control Systems Market is segmented on the basis of geography into North America, Europe, Asia Pacific, Rest of the World. North America holds a large share of the market because of the record new exploration activity and those related to shale gas. The availability of a technically skilled workforce, including low-cost labor, has prompted many multinational companies to set up manufacturing facilities or enter into joint ventures with domestic suppliers from emerging economies in the region. Asia-Pacific is expected to witness favorable growth rates throughout the forecast period. The increased investment in industries such as oil and gas and power generation. Also, increasing government initiatives for manufacturing facility development is expected to drive market growth over the forecast period.
Key Players
The “Global Compressor Control Systems Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are ABB Ltd., Dresser-Rand, GE Electric Co., Rockwell Automation, Inc., Siemens AG, Emerson Electric Co., Compressor Controls Corporation, Schneider Electric SE, John Wood Group PLC, Ingersoll Rand PLC.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Compressor Control Systems Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in the Global Compressor Control Systems Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2018-2030 |
| Base Year | 2021 |
| Forecast Period | 2023-2030 |
| Historical Period | 2018-2020 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ABB Ltd., Dresser-Rand, GE Electric Co., Rockwell Automation, Inc., Siemens AG, Emerson Electric Co., Compressor Controls Corporation. |
| Segments Covered |
|
| Customization Scope | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Industry Analysis Matrix
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