Albany, NY, Jan. 14, 2016 (GLOBE NEWSWIRE) -- The market is growing at a healthy CAGR of 5.8% from 2015 to 2022.The report provides a market snapshot including market dynamics, analysis of compressor controller aftermarket sales and services, and analysis of key participants in this market along with their role in the overall ecosystem. It also includes all the future trends that are likely to impact the demand for air compressor controllers in the coming years. The study provides market estimations for the period from 2012 to 2022 in terms of revenue (US$ Mn) and Y-o-Y growth (%).
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As air compressor controller systems determine the overall energy efficiency of an air compressor system, these devices are extremely critical for high performance and efficient system operation. They help in reducing energy consumption and protect compressors from surge events in order to provide maximum efficiency. Air compressor controller systems are widely adopted in the energy and mining, oil and gas, and petrochemical industries for several production activities. The demand for air compressor controller systems is also expected to rise by 2022 and create potential growth opportunities in shale gas reserves for extraction of natural gas resources. Due to their application and demand across various industrial segments in the world, the market for air compressor controllers is expected to witness high growth in the coming years.
The study report provides information on the global air compressor controller market by component, end-use industries, and geography. By component, the market is segmented into supervisory control and data acquisition (SCADA), programmable logic controller (PLC), drives, and others (including actuators, motors, and valves). The report states that PLC and SCADA were the main contributors to the growing revenue in the global air compressor controller market. Moreover, the demand for PLC and many other components such as actuators and motors is also expected to increase due to the expected surge in retrofitting activities of compressor controllers.
For regional analysis, the market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Among the various regions, the Middle East and Africa, including countries such as Iraq, Saudi Arabia, Nigeria, and the United Arab Emirates, and North America were the key contributors to the global air compressor controller market in 2014. As the need for compression control is high in these countries, the demand for air compressor controllers is also growing rapidly.All the above mentioned countries have been the largest contributors in terms of oil production to the global economy. North America, on the other hand, is expected to experience high demand for air compressor controllers because these systems are widely used in the energy and mining, oil and gas, pharmaceutical, and HVAC industries in this region.
Air Compressor Controller Market, by Component:
- Supervisory Control and Data Acquisition (SCADA)
- Programmable Logic Controller (PLC)
- Others (Actuators, Motors, Valves, etc)
Air Compressor Controller Market, by End-use Industry:
- Oil & gas
- Energy & Mining
- Heating, Ventilation and Air Conditioning (HVAC)
- Others (Cement, Processing Industry, Pharmaceuticals, etc.)
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Source:Transparency Market Research