Compressor Control System Market, By Component, By End-User, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
Compressor Control System Market size was valued at USD 6,949.3 Million in 2022, expanding at a CAGR of 5.2% from 2023 to 2030.
A compressor control system is a combination of devices, software, and processes that are responsible for managing and regulating the operation of a compressor. This system includes a compressor, motor, compressor sensors for protection and control, and a Compressor Control Panel that coordinates their operation. The control system is made up of a variety of sensors and electrical components, all of which can be controlled from a central terminal. With advancements in sensor technology and microprocessors, the controllers have become more versatile and functional. Compressors are widely used in different industries to increase the pressure of gas or air, and the control system ensures that the compressor operates efficiently, safely, and according to the desired parameters. In industrial settings, compressor control systems are often part of a larger network of interconnected systems
Compressor Control System Market- Market Dynamics
The growth of the Compressor Control System market is primarily fueled by the advancement of technology and the expansion of the industrial sector, which heavily relies on compressors for various End-Users.
Advancements in control system technologies are continuously improving the capabilities and efficiency of compressor control systems. As industries expand globally, the need for compressors in various End-Users is also increasing. Compressors play a vital role in industries such as manufacturing, oil and gas, petrochemicals, pharmaceuticals, and more. For instance, they are used for tasks like natural gas gathering, transport, processing, storage, and distribution. According to the US Natural Gas Compression Infrastructure, there are approximately 13,000-15,000 smaller compressors in upstream operations and 2,000-3,000 compressors of all sizes in downstream oil & gas and LNG End-Users. Additionally, the Department of Energy estimates that 2-3% of US natural gas is consumed by oil & and gas compressors. Moreover, emerging economies are experiencing industrialization and infrastructure development, which will further drive the growth opportunity for compressors and related control systems. However, the initial cost of installing and implementing advanced compressor control systems can pose a challenge to their widespread adoption.
Compressor Control System Market- Key Insights
As per the analysis shared by our research analyst, the global Compressor Control System market is estimated to grow annually at a CAGR of around 5.2% over the forecast period (2023-2030)
The growth of the Compressor Control System sector is expected to be substantial, driven by the rise in oil and gas exploration as well as production endeavors.
Based on Component segmentation, the Controlling Component was predicted to show maximum market share in the year 2022
Based on End-User segmentation, Oil and Gas was the leading type in 2022
On the basis of region, North America was the leading revenue generator in 2022
Compressor Control System Market- Segmentation Analysis:
The Global Compressor Control System Market is segmented on the basis of Component, End-User, and Region.
The market is divided into two categories based on Components: Controlling Component and Networking Component. The market is predominantly controlled by the Controlling Component. Compressor Control systems typically consist of several components, and the controlling component plays a crucial role in supervising and controlling the operation of the compressor.
The market is divided into Four categories based on End-User: Energy and Power, Oil and Gas, Refining, Chemical, Mining, and Others. The market is largely dominated by the Oil and Gas sector. Sectors such as oil and gas, petrochemicals, power generation, and manufacturing have a significant impact on the demand for compressor control systems. These systems are crucial in the upstream, midstream, and downstream sectors as they enable essential processes like gas compression and transportation.
Compressor Control System Market- Geographical Insights
Geographically, the Compressor Control System market spans various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the market is projected to be dominated by North America, primarily due to the advancements in compressor technology. North America is renowned for its strong focus on technological innovation. The presence of research and development institutions and initiatives dedicated to industrial technologies in this region could significantly contribute to the development of cutting-edge compressors. Investments in research and development have the potential to result in the creation of more efficient and technologically advanced compressor systems. According to recent data from the National Center for Science and Engineering Statistics, basic research activities across all sectors accounted for USD111.9 billion in 2020, which is equivalent to 16% of the total R&D expenditures in the United States. The business sector, being the largest contributor, accounted for USD 543.2 billion or 76% of the national R&D total of USD 717.0 billion. Europe is expected to be the second-largest market during the forecast period, primarily due to the increasing demand in developing economies.
Compressor Control System Market- Competitive Landscape:
The demand for compressor control systems is often tied to industries such as oil and gas, petrochemicals, power generation, and manufacturing. Manufacturers differentiate themselves through the features, performance, and reliability of their compressor control systems. Companies invest in R&D to stay competitive, introducing new technologies and improving existing products. Companies achieve competitive advantage through acts of innovation. They approach innovation in its broadest sense, including both new technologies and new ways of doing things. Some innovations create a competitive advantage by perceiving an entirely new market opportunity or by serving a market segment that others have ignored. There's often a focus on energy-efficient solutions, and compressor control systems play a role in optimizing energy consumption.
Recent Developments:
In 28 May 2020, Siemens Gas and Power was selected to supply a range of compression and power generation equipment for the Balikpapan Refinery located on Borneo Island in East Kalimantan, Indonesia.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL COMPRESSOR CONTROL SYSTEM MARKET KEY PLAYERS
Siemens AG
Ingersoll Rand
Atlas Copco
Rockwell Automation
Schneider Electric
Compressor Control Corporation
Emerson Electric Co.
ABB Ltd.
GLOBAL COMPRESSOR CONTROL SYSTEM MARKET, BY COMPONENT
Controlling Component
Networking Component
GLOBAL COMPRESSOR CONTROL SYSTEM MARKET, BY END-USER
Energy and Power
Oil and Gas
Refining
Chemical
Mining
Others
GLOBAL COMPRESSOR CONTROL SYSTEM MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Compressor Control System Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Compressor Control System Market Snippet by Component
2.1.2. Compressor Control System Market Snippet by End-User
2.1.3. Compressor Control System Market Snippet by Country
2.1.4. Compressor Control System Market Snippet by Region
2.2. Competitive Insights
3. Compressor Control System Key Market Trends
3.1. Compressor Control System Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Compressor Control System Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Compressor Control System Market Opportunities
3.4. Compressor Control System Market Future Trends
4. Compressor Control System Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Compressor Control System Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Compressor Control System Market Landscape
6.1. Compressor Control System Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Compressor Control System Market - By Component
7.1. Overview
7.1.1. Segment Share Analysis, By Component, 2022 & 2030 (%)
7.1.2. Controlling Component
7.1.3. Networking Component
8. Compressor Control System Market - By End-User
8.1. Overview
8.1.1. Segment Share Analysis, By End-User, 2022 & 2030 (%)
8.1.2. Energy and Power
8.1.3. Oil and Gas
8.1.4. Refining
8.1.5. Chemical
8.1.6. Mining
8.1.7. Others
9. Compressor Control System Market- By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
9.2. North America
9.2.1. Overview
9.2.2. Compressor Control System Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.2.4. North America Market Size and Forecast, By Component, 2018 - 2030 (US$ Million)
9.2.5. North America Market Size and Forecast, By End-User, 2018 - 2030 (US$ Million)