Global Compressor Control Systems Market 2018-2022 | Improving Energy Efficiency to Drive Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 28, 2018--Technavio’s global compressor control systems market research report forecasts the market to grow at a CAGR of around 5% during the forecast period.
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Technavio has published a new market research report on the global compressor control systems market from 2018-2022. (Graphic: Business Wire)
The provision of waste heat recovery will be one of the major trends in the during 2018-2022. The compression of air results in an increase in temperature and up to 90% of the electrical energy consumed by a compressor is converted into heat energy, which is usually dissipated to the atmosphere by heat exchangers as waste heat. The use of this waste heat as a source of energy for heating buildings or process heating has been gaining traction. With a carefully designed closed cooling system, up to 94% of this waste heat can be captured.
According to Technavio analysts, one of the critical drivers for the global compressor control systems market is the increasing focus on improving the energy efficiency of compressors:
Global compressor control systems market: Increasing focus on improving the energy efficiency of compressors
The compressors are among the least efficient utilities of an industrial plant and hence, consume a substantial amount of energy. In discrete manufacturing, new compressors are added with increasing compressed air load, which contributes to the deployment of individual compressors for multiple sections of plants. Each compressor can meet the peak load demand of the assigned plant section. However, compressed air demands of each section of the plant may not peak at once.
According to a senior research analyst at Technavio, “The total installed capacity of compressed air systems in most discrete manufacturing plants is higher than their total peak load demand. The redundancies such as equipment failure, scheduled maintenance, or seasonal peak load demand also result in high installed capacity. Thus, most of the compressors in discrete manufacturing operate in silos and at part loads.”
Global compressor control systems market: Segmentation analysis
This global compressor control systems market analysis report provides market segmentation by product (control elements and communication), by end-user (process manufacturing and discrete manufacturing), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the control elements segment held the largest compressor control systems market share in 2017, contributing to over 78% of the market. This product segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for more than 37% share. It was followed by APAC and EMEA respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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