Transparency Market Research, in a report titled “Air Compressor Controller Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2022,” states that the global air compressor controllers market for is poised to expand at a 5.80% CAGR from 2015 to 2022. The value of the global market was pegged at US.4 bn in 2014 and is estimated to rise to US.4 bn by 2022.
Air compressor controller systems are extremely vital for efficient system operation and improved performance, since they determine the overall energy efficiency of any air compressor system. These devices aid in protecting compressors from surge events, reducing energy consumption, and providing maximum efficiency. Air compressor controllers are used across several industrial segments, given their rising potential in sectors such as oil and gas, energy and mining, and petrochemicals.
By component, the air compressor controller market is categorized into programmable logic controllers (PLC), supervisory control and data acquisition (SCADA), drives, and others such as motors, actuators, and valves. The report states that PLC and SCADA held the largest share in the overall market thanks to the growing retrofit business for compressor controllers.
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On the basis of application, the air compressor controller market is divided into petrochemical, heating, ventilation, and air conditioning (HVAC), oil and gas, energy and mining, and others such as processing, cement, and pharmaceuticals. Petrochemical, oil and gas, and energy and mining have been the largest contributors to the overall market given that the demand for compressed air is consistently high in these sectors. The demand for HVAC systems in commercial spaces is a key factor driving the demand for air compressor controllers from the HVAC segment.
The global air compressor controller market is geographically segmented into Europe, the Middle East and Africa, North America, Latin America, and Asia Pacific. North America is a major contributor to the growth of the air compressor controller market, with a large number of manufacturers based in this region. Air compressor controllers are used by several energy and mining, oil and gas, HVAC, and pharma companies in North America. The Middle East and Africa region is also a major market for air compressor controllers, with countries such as Iraq, Libya, Saudi Arabia, Nigeria, and the United Arab Emirates emerging as the leading revenue generators. Given that these countries contribute significantly to the global economy in terms of oil production, the requirement for compression control is high in the MEA region.