Global Compressor Control Systems Market 2017-2021
About Compressor Control Systems
Compressor control systems are mainly used to control compressors and improve their efficiency. Hardware components used in compressors send signals and data to software applications, which help in controlling functionalities of compressors. Hardware components are extensively used as these act as the basic elements to support the functionalities of compressors and compressor control systems. The software considered in this report is not a dedicated system for compressor control systems. This software is used to control the overall functioning of an industrial facility. The number of units of software installed among end-users will be less as one software is sufficient to control the functions of the complete facility due to which the total number of software sold is expected to be lower.
Technavio’s analysts forecast the global compressor control systems market to grow at a CAGR of 4.82% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global compressor control systems market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Compressor Control Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global compressor control systems market: General Electric, Schneider Electric, Siemens, and Woodward.
Other Prominent Vendors in the market are: Atlas Copco, Ingersoll Rand, Compressor Controls Corporation, Emerson Electric, Honeywell, and Rockwell Automation.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is use of data analytics to increase plant efficiency. Most of the components used in compressor control systems provide a feature for data logging. With the help of these data, strategic decisions can be taken. Smart meters and sensors help in transferring data to a server. The data are used by HMI and SCADA applications. These applications can be configured to send real-time data and to automatically update these data on the servers.”
According to the report, one driver in market is multisystem interoperability functions of compressor control systems benefitting users. Multisystem interoperability helps users in configuring systems. Users prefer products that support multisystem interoperability, as it reduces the cost of obtaining additional products. As a result, there is reduced installation cost. The IEC 61850 standard helps in minimizing separate wiring requirement for signaling devices and control switches. This standard relies on a single communication channel for all data sharing and is helpful in situations where there are multiple substations and all need to be connected. All of these devices can be integrated with the help of the Ethernet connection. The IEC standard and interoperability features will improve the efficiency of the plant and make the user operations much simpler.
Further, the report states that one challenges in market is apprehensions among end-users in implementing compressor control systems. Many of the end-users have installed only basic controls for their compressors. With the help of advanced compressor control systems, including controlling elements and networking, end-users can increase the efficiency of these compressors. There is a lack of awareness among end-users on how improving their control systems can benefit in saving time and cost of operation. Vendors of compressor control systems should focus more on their marketing strategy to educate prospective buyers on the benefits and advantages of implementing these systems. Below are some of the reasons why end-users are apprehensive on employing these systems.
General Electric, Schneider Electric, Siemens, Woodward, Atlas Copco, Ingersoll Rand, Compressor Controls Corporation, Emerson Electric, Honeywell, and Rockwell Automation.