Compressor Control System Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (SCADA, PLC, Switches, Motors, Transmitters, Valves, Others), By End-User (Energy And Power, Oil And Gas, Refining, Chemical, Mining, Others), And By Geography - Forecasts From 2020 To 2025

The global compressor control system market is set to expand at a CAGR of 4.80% to reach US$6,671.352 million by 2025, increasing from US$5,036.189 million in 2019. Compressor control systems have a wide range of applications in power generation, chemical, mining, and refining industries. The major factors propelling the growth of the compressor control systems market can be attributed to the improvement in product quality specifications for critical industrial processes and large-scale applications across different industries. Moreover, compressors operating at a very high compression rate and rapidly changing flowrates and pressures require specialized control techniques that enable in maintaining process stability. The major restraining factors are high initial cost, frequent maintenance of the compressor control systems and volatile oil and gas industry, which could hamper the investments and restrain the market growth.

Investment in the oil and gas industry is expected to drive the growth of the market.

By application, the oil and gas industry is expected to hold a significant market share in 2018 and is anticipated to grow steadily in the coming years. Factors like rapid industrialization and urbanization are driving the demand for oil and gas while propelling the industry growth which is indicated by the fact that the fuel consumption by the global economy has increased steadily since 2014. 

In fact, the consumption of primary energy increased from 11,705.1 million tonnes of oil equivalent in 2008 to 13,864.9 million tonnes of oil equivalent in 2018 (source: BP Statistical Review of World Energy 2019). Moreover, increasing the adoption of compressor control systems in this industry for various core activities will boost the segment’s growth over the forecast period. Simultaneously, efforts are being made by the manufacturers to improve the technology of the compressor systems that deliver optimal performances while consuming relatively lower energy. For instance, Atlas Copco recently launched a new version of its XAVS 238 and XATS 288 portable compressors with a 27% smaller footprints. The new versions feature the pressure adjusted through cognitive electronics (PACE) pressure control systems that have the capability of extending the spectrum of a single compressor from 7 up to 14 bar. 

Asia Pacific to provide high growth opportunities.

Geographically, the North America region accounted for a significant market share of the global compressor control systems market in 2018. The government of the United States is significantly increasing investment to boost its status as an oil exporter. Specifically, the government is focusing on improving the infrastructure that will allow the transportation of oil from the United States to the world market. Similarly, factors like expanding mining activities, mounting concern over water consumption and initiatives being taken towards wastewater management are some of the factors significantly contributing to market growth. However, the Asia Pacific region is expected to grow at the fast rate on account of rapid industrialization, and in turn, boosting the demand for these systems across various industries over the next five years. Moreover, the Chinses government has taken an initiative to increase the 2019 capital investment in oil exploration by 20%, with the primary goal to increase the production of oil by 50%, up more than two million barrels a day over the next five years. In fact, China’s Sinopec Corporation is expected to set up a US$5.7 billion refining and petrochemical complex in the south of the country by the end of the second quarter of 2020. Similarly, the government of India is planning to more than treble the area under exploration to 700,000 sq. km in five years from 200,000 sq. km to revamp and stimulate the country’s oil declining output.  

Compressor Control System Market Scope:

Segmentation:

• By Component

o    SCADA

o    PLC

o    Switches

o    Motors

o    Transmitters

o    Valves

o    Others

• By End-User

o    Energy and Power

o    Oil and Gas

o    Refining

o    Chemical

o    Mining

o    Others

• By Geography

o    North America

• USA
• Canada
• Mexico

o    South America

• Brazil
• Argentina
• Others

o    Europe

• UK
• Germany
• France
• Others

o    Middle East and Africa

• Saudi Arabia
•  Israel
• Others

o    Asia Pacific

• Japan
• China
• India
• Others