The global compressor control system market is estimated to witness rapid growth over the forecast period. The growth can be attributed to technological proliferation and growth across the manufacturing sector, where compressors are used in several applications. Compressor control systems are a crucial component of many industrial processes. Compressors are used in a wide range of applications ranging from huge manufacturing plants to small mechanical shops. These control systems are integrated into the compressors depending on the type of application it serves. Technological advancements have led to the development of advanced compressors and compressor control systems for customized applications making them more reliable, efficient, and environmentally friendly. New applications and technologies along with an exhaustive supply chain have increased the buying power of end-users, which is expected to fuel the compressor control system market growth over the next few years.
The compressor control systems find major applications in power generation, petrochemicals, metals & mining, oil & gas, and refining industries. The oil & gas industry can be further segmented into Liquefied Natural Gas (LNG), Compressed Natural Gas (CNG), and applications such as long-distance gas & oil pipelines and city gas distribution. Compressor control system usage in petroleum industries such as oil & gas and refining is expected to witness high growth over the forecast period. Increased natural gas extraction from shale gas basins is anticipated to favorably impact the compressor control system market, and also provide several opportunities for market growth. Manufacturers focus on improving reliability and efficiency of compressors in order to gain a competitive advantage. Increased R&D spending along with innovation is expected to be a core business strategy over the forecast period.
The automobile and cement industries provide several opportunities for the compressor control system market. The compressor control system can be segmented on the basis of controlling components into PLC, Supervisory Control and Data Acquisition (SCADA), and Human Machine Interface (HMI) and other components such as transmitters, sensors, valves, actuators, drives, and motors.
The market is dominated by developed economies such as North America and Europe. However, an increasing number of new entrants from countries such as Japan, China, and India may pose a challenge to existing market players. Furthermore, volatile raw material prices are also estimated to hamper market demand.
The market is characterized by intense competition with key players emphasizing on innovation as a part of their growth strategy. The key participants in the compressor control system market are Atlas Copco, Compressor Control Corp., Dresser-Rand, Emerson Electric, Honeywell International, Inc., GE Oil & Gas, Schneider Ltd., and Rockwell Automation Inc. Manufacturers focus on developing technologically advanced intelligent/smart control systems. Further, companies also emphasize on providing a customized solution as per the end-use facility requirement and thereby improve customer satisfaction.
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