DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Compressor Control System Market by Component, Application, and Geography - Global Forecast to 2022" report to their offering.
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.
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).
For more information visit http://www.researchandmarkets.com/research/czjpr7/compressor
