NEW YORK, May 10, 2016 /PRNewswire/ -- The global compressor control systems market was estimated to be worth USD 4.60 billion in 2015 and is expected to reach USD 6.39 billion by 2022, at a CAGR of 4.7% between 2016 and 2022. The compressor control systems market is projected to grow rapidly due to advancements in technology and innovation. Major drivers for the compressor control systems market are increasing product quality specifications for critical industrial processes and large-scale application in industries such as oil & gas, refining, and petrochemical.
Applications in the fertilizers industry to experience highest growth during the forecast period
The compressor control systems market is segmented on the basis of applications such as oil & gas, refining, petrochemical, power generation, metals & mining, fertilizers, water & wastewater, and others. The increasing demand for food has led to a high investment in fertilizer factories; this in turn is expected to drive the compressor control systems market as fertilizer production plants commonly require large air compressors, nitrogen compressors, and syngas compressors.
Americas held the largest share of the compressor control systems market in 2015
The report gives an overview of the major geographic regions in the compressor control systems market such as the Americas, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW). The Americas led the global compressor control systems market in 2015, driven by significant penetration of compressor control systems in various sectors and the presence of advanced infrastructure in the region. The Americas is expected to experience a high demand for compressor control systems as they are widely used in industries such as energy and mining, oil & gas, and water and wastewater treatment and air conditioning (HVAC) industries in this region.
The breakup of primaries conducted during the study is depicted below:
By Company type: Tier1 Companies: 50%, Tier 2 Companies: 33%, and Tier 3 Companies: 17%
By Designation: C-level: 34%, Director Level: 33%, and Others: 33%
By Region: Americas: 50%, Europe: 33%, and Asia-Pacific: 17%
The key players in the compressor control systems market are General Electric Co. (U.S.), Rockwell Automation, Inc. (U.S.), Schneider Electric (France), Siemens AG (Germany), Alstom (France), Mitsubishi Heavy Industries Ltd. (Japan), and ABB Limited (Switzerland).
Reasons to Buy the Report:
- This report includes the market statistics pertaining to components, type, industry, and geography along with their respective market size.
- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the compressor control systems market.
- Major drivers, restraints, and opportunities for the growth of the compressor control systems market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for the markets on the basis of components, application, and geography have been conducted to give an overall view of the compressor control systems market.
- A detailed competitive landscape includes key players, their ranking, and in-depth analysis of companies operating in the compressor control systems market.
The available customizations for the report can offer further country-wise segmentation of the compressor control systems market, in terms of value, further breakdown of the industry, and profiling of any additional companies in the report.
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