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The Compressor Control Systems Market is projected to grow by USD 1.3 billion with a CAGR of 4.83% during the forecast period 2021 to 2026.
This compressor control systems market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the compressor control systems market segmentation by product (control elements and communication), end-user (process manufacturing and discrete manufacturing), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The compressor control systems market report also offers information on several market vendors, including ABB Ltd., Atlas Copco AB, Baker Hughes Co., BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Case Controls, ComAp AS, Connell Industries Inc., Emerson Electric Co., FS ELLIOTT Co. LLC, HOERBIGER Holding AG, Honeywell International Inc., Ing. Enea Mattei Spa, Ingersoll Rand Inc., KAESER KOMPRESSOREN SE, MAPNA Group Co., Petrotech Inc., RENNER GmbH Kompressoren, Rockwell Automation Inc., Schneider Electric SE, and Woodward Inc. among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global compressor control systems market. During the COVID-19 pandemic, the demand in the compressor control systems market has been impacted significantly, but a holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.
Key Compressor Control Systems Market Driver
Increasing focus on improving the energy efficiency of compressors is one of the key factors driving the global compressor control systems market growth. Compressors are among the least efficient equipment in an industrial plant. Therefore, they consume a significant amount of energy. This aspect is especially prominent in discrete manufacturing, wherein new compressors are added due to the increasing compressed air loads. This contributes to the deployment of individual compressors across multiple sections of industrial plants. Each compressor is designed to meet the peak load demand of the assigned section of the plant. However, it is highly unlikely for the compressed air demands of each section of the plant to peak all at once. Therefore, the total installed capacity of compressed air systems in most discrete manufacturing plants is higher than their total peak load demand. An additional compressor, which is usually termed the trim compressor, is brought online only when the demand exceeds the baseload needs. This provides flexibility in operating a maximum number of compressors at peak load except for trim compressors. Therefore, the overall efficiency of compressed air systems improves and results in significant energy savings. The cost-saving potential offered by compressor control systems is increasing their installation in discrete manufacturing units.
Key Compressor Control Systems Market Trend
The increasing trend of waste heat recovery will fuel the global compressor control systems market growth. The compression of air results in an increase in temperature. According to some estimates, up to 90% of the electrical energy consumed by a compressor is converted into heat energy. Similarly, according to the US Department of Energy (DoE), electricity accounts for approximately 76% of the lifecycle cost of an industrial compressor under certain conditions. Some of this heat energy is usually dissipated into the atmosphere as waste heat via heat exchangers. The use of this waste heat as a source of energy for heating buildings or for process heating is gaining traction. Up to 94% of this waste heat can be captured using a carefully designed closed cooling system. This can significantly reduce the cost of compressed air systems. Moreover, the energy that closed cooling systems recovers also improves the operating condition, reliability, and service life of a compressor. The cooling systems equalize the temperature levels and facilitate better cooling quality of water than air. With the growing focus on reducing the environmental footprint of each piece of equipment in industries, the use of waste heat recovery systems should become a standard feature in compressors. Therefore, vendors of compressor control systems need to have waste heat recovery mechanisms inbuilt into their offerings.
Key Compressor Control Systems Market Challenge
Lack of awareness about the benefits of advanced compressor control systems is the major challenge to the global compressor control systems market growth. Air compressor operations are one of the most ignored and inefficient processes in an industrial facility. This is despite the fact that the cost of electricity consumed by an air compressor during its lifetime could account for as much as 76% of its lifecycle cost. Compressors usually run on electricity and do not directly contribute to carbon emissions. For instance, industries have consistently improved the energy efficiency of industrial boilers and burners over the years to meet regulatory requirements and cut down on the consumption of fuel in industrial boiler plants. However, the excessive cost of grid-supplied electricity consumed by air compressors and its potential negative impact on the environment usually goes unnoticed. The above factors are prompting vendors to invest in marketing and awareness campaigns to educate operators about the cost-saving potential of modern compressor control systems. This would lower the reluctance among end-users to upgrade their existing compressor control systems.
This compressor control systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global compressor control systems market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the compressor control systems market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the compressor control systems market encompasses successful business strategies deployed by the key vendors. The compressor control systems market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The compressor control systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the compressor control systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global industrial machinery market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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40% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the compressor control systems market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Increasing focus on improving the energy efficiency of compressors will facilitate the compressor control systems market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the COVID-19 pandemic led to a decline in industrial activity in APAC. Stringent lockdowns and social distancing regulations implemented across most countries compelled many business owners to shut down their facilities temporarily. Automotive production and other production operations across other manufacturing and industrial sub-sectors took a serious hit in 2020. A decline in capital spending negatively impacted the demand for compressor control systems from customers. However, since the beginning of 2021, the regional economy has rapidly recovered from the pandemic, and supply chains have gradually reached pre-pandemic levels, owing to various government initiatives such as the initiation of large-scale vaccination drives and guidelines that mandate the use of face masks and hand sanitizers. Thus, the growth of various end-user industries, such as oil and gas, food and beverage, and electronics will further drive the growth of the regional compressor control systems market during the forecast period.
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The compressor control systems market share growth in the control element segment will be significant during the forecast period. Control elements include devices that control, monitor, and accept inputs and provide the necessary output and final control elements. Control elements include sensors; controllers such as programmable automation controllers (PAC) and programmable logic controllers (PLC); human-machine interface (HMI) and Input/output (I/O) modules; and final control elements such as variable frequency drives and recycle or blow-off valves. Sensors that are commonly used in a compressor control system include but are not limited to flow sensors, level sensors, pressure sensors, and temperature sensors.
This report provides an accurate prediction of the contribution of all the segments to the growth of the compressor control systems market size and actionable market insights on the post-COVID-19 impact on each segment.
Compressor Control Systems Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.83% |
Market growth 2022-2026 |
$1.3 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.24 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key consumer countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
ABB Ltd., Atlas Copco AB, Baker Hughes Co., BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Case Controls, ComAp AS, Connell Industries Inc., Emerson Electric Co., FS ELLIOTT Co. LLC, HOERBIGER Holding AG, Honeywell International Inc., Ing. Enea Mattei Spa, Ingersoll Rand Inc., KAESER KOMPRESSOREN SE, MAPNA Group Co., Petrotech Inc., RENNER GmbH Kompressoren, Rockwell Automation Inc., Schneider Electric SE, and Woodward Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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