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Global Compressor Control System Market Size, Share, Development, Growth and Demand Forecast to 2022 : P&S Market Research
The major applications of compressor control system include petrochemicals, metals & mining, oil & gas, power generation, and refining industries. The oil and gas industry could be further segmented into liquefied natural gas (LNG), compressed natural gas (CNG). The compressor control systems in the oil and gas industry are used for long distance gas & oil pipelines and city gas distribution. Compressor control system usage in petroleum industries is expected to witness high growth during the forecast period. Increased extraction of natural gas from the shale gas basins is expected to favorably impact the compressor control system market and provide several opportunities for the market growth.
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The automobile and the cement industries provide several opportunities for the compressor control system market. Compressor control system market can be segmented based on controlling component into Supervisory Control and Data Acquisition (SCADA), Human Machine Interface (HMI) and other components such as transmitters, valves, sensors, actuators, drives and motors. However, high initial costs and need for timely maintenance of the compressor control systems along with fluctuations in prices of oil & gas and raw materials are expected to be the major hindrances for the growth of global compressor control system market.
Compressor control system is a crucial component of many industrial processes. Compressors are used in wide range of applications, ranging from small mechanical shops to large manufacturing companies. These control systems are then integrated with the compressors depending on the type of application it serves. Technological advancements have led to the development of advanced compressors and compressor control systems for customized applications, making them more reliable and efficient. It has been observed that the compressors are efficient when operating at full capacity. In a manually-controlled system, all compressors on the system generally respond simultaneously to the changes in demand. The cycling of compressors leads to large pressure variations for the system, which causes the average pressure to be excessively high.
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Geographically, North America is the largest global compressor control system market, followed by Europe. North America is expected to witness high growth throughout the forecast period due to high demand for compressor control systems, as they are widely used in industries such as energy and mining, oil & gas, waste water treatment and air conditioning industries. The market in Asia-Pacific is expected to witness fastest growth during the forecast period owing to rapid industrialization.
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