Booster Compressor Market: Global Overlook of Industry and Forecast (2023-2029)

Booster Compressor Market size was valued at US$ 2.33 Bn. in 2022. The global Booster Compressor Market size is estimated to grow at a CAGR of 4.63% over the forecast period.
Booster Compressor Market Overview:
A booster compressor is a piece of machinery used to increase the pressure of an existing system. It has a delivery valve cylinder head, a received tank, and a discharge tank, and it can cool with both water and air. It's used to test industrial conduit and pipeline pressures, optimize high-pressure tyres, engine starter systems, increase the volume and pressure of water in showerheads and faucets, make PET bottles, and improve toque in small air tools. Efficiency, productivity, versatility, transportability, safety, reliability, high-pressure production capability, and profitability are advantages of using a booster compressor. The majority of booster compressors are pneumatic and maintain high pressures for short periods. As a result, they are widely used in various industries, including manufacturing, chemical, and oil & gas.To know about the Research Methodology :- Request Free Sample Report
Booster Compressor Market Dynamics:
The Booster Compressor Market is showing northward direction growth, thanks to the rapid completion of natural gas pipeline projects. According to the US EIA's Natural Gas Pipeline Project Tracker, between November 2021 and January 2021, about 4.4 billion ft3 per day of natural gas pipeline capacity was put into service. These developments may increase the demand for natural gas booster compressors for natural gas and oil recovery. In addition, given the need for compressed air and gas to improve the production of electric car batteries, the gradual shift to electric vehicles to minimize pollution would spur industrial growth.

The market can benefit from the growing industrialization of emerging countries including India and China. The right design for application needs and the low cost of booster compressors are projected to increase the market for booster compressors. In addition, rising global investments in oil and gas exploration are likely to raise demand for the booster compressor over the forecast period.

The surge in demand for high pressure from various activities in various end-uses is propelling the booster compressor market growth across the globe. However, the market's growth is being hampered by the implementation of strict government restrictions aimed at reducing pollution from plastic items and the rapid expansion of the electric car industry. On the other hand, the rapid transition from coal to gas power plants, as well as rising gas use in automobiles, are projected to provide lucrative growth opportunities for leading market players during the forecast period.

Latest Trends:

Increasing Focus on Manufacturing and Processing Industries: Booster compressor demand is expected to be fueled by rising investments in industries such as oil and gas, chemicals, and power generation in developing economies. According to the World Investment Report 2021, Asia Pacific received US$ 529 billion in foreign direct investments in 2021, with China and Singapore receiving the majority of these funds. In addition, governments are concentrating on upgrading industrial laws and regulations in order to create a favorable climate for the exploration of new industries and the improvement of competitive sustainability. Some of the supportive rules that help increase industrial applications and hence market growth include strategic investment policy priorities, foreign investor entry and establishment, and promotion and facilitation of investment policies.
Booster Compressor Market Segment Analysis:
Based on Cooling Type, the Booster Compressor Market is segmented into Air-cooled and Water-cooled. The Air-cooled segment held the largest market share, accounting for 68% in 2022, and continue to dominate the worldwide market over the forecast period. The increased availability of new compressor packages in the air-cooled version is associated with this segment's growth. Heat lost from air-cooled booster compressors can also be recovered by using the energy to power preheating batteries or heat buildings. The segmental growth will be aided by significant utility savings as a result of the deployment of this compressor type over the forecast period.Based on End-User, the Booster Compressor Market is segmented into Oil & Gas, Process Industry, Chemical & Petrochemical, Power Generation, and Others. The Oil & Gas type segment held the largest market share, accounting for 33% in 2022, and continue to dominate the worldwide market over the forecast period. Natural gas output is growing rapidly over the world, reaching 4368 billion cubic meters in 2020. The conveyance of rising gas production necessitates the use of booster compressors to deliver compressed gas swiftly. Booster compressors are utilized in a variety of oil and gas applications, including hydrocarbon blanketing, nitrogen compression, and compression station uses. The oil and gas industry's demand for booster compressors is expected to be driven by the growing midstream market, particularly developing city gas distribution projects.
Booster Compressor Market Regional Insights:
The North American region held the largest market share accounting for 32.4% in 2022. According to the EIA, the United States has consumed over 30.4 trillion ft3 of natural gas in 2022, resulting in a demand for booster air compressors in the natural gas industry. In addition, the rapid transition away from coal and increasing investment in clean energy to achieve a net-zero footprint will amplify the regional industry outlook in the next years.

The Asia Pacific market is expected to grow at a CAGR of 4.5% during the forecast period. The Asia Pacific market's growth can be attributed to the region's growing industrialization. Manufacturing industries are developing in nations such as China, India, and Indonesia. Booster compressors are employed in the industrial sector for a variety of applications, including laser cutting, high-pressure input for various machinery, and gas boosting. As a result of the region's increased industrialization, a market for booster compressors is expected to emerge.

During the forecast period, the Middle East and Africa region are expected to be the fastest expanding booster compressor market. The increased drilling and midstream investments in oil and gas are ascribed to the market's growth in the Middle East and Africa. The increased demand for natural gas in China and India is driving up investments in oil and gas.

The objective of the report is to present a comprehensive analysis of the Booster Compressor Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Booster Compressor Market dynamics, structure by analyzing the market segments and projecting the Booster Compressor Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Booster Compressor Market make the report investor’s guide.
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Booster Compressor Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 2.33 Bn.


Forecast Period 2023 to 2029 CAGR:
4.63%
Market Size in 2029:
US $ 3.20 Bn.


 Segments Covered:
by Cooling Type
Air-cooled
Water-cooled


by Compression Stage
Single-stage
Double stage
Multistage


by Pressure
14–40 bar
41–100 bar
101–350 bar
Above 351 bar


by End-User
Oil & Gas
Process Industry
Chemical & Petrochemical
Power Generation
Others



Booster Compressor Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Some of The Prominent Key Players in Global Booster Compressor Market Are:
1.Boge Kompressoren
2.SAUER Compressor
3.BAUER Kompressoren
4.Hitachi
5.Ingersoll Rand
6.Atlas Copco
7.CORKEN - an IDEX Energy business
8.Jazan Gas Projects Company
9.Kaeser Kompressoren
10.Gardner Denver
11.BHGE
12.Idex Corporation
13.Maximator
14.Haskel
15.Kaeser Kompressoren

FAQ:

1] What segments are covered in the Booster Compressor Market report?
Ans. The segments covered in the Booster Compressor Market report are based on Cooling Type, Compression Stage, Pressure, and End-User.

2] Which region is expected to hold the highest share in the Booster Compressor Market?
Ans. North America region is expected to hold the highest share in the Booster Compressor Market.

3] What is the market size of the Booster Compressor Market by 2029?
Ans. The market size of the Booster Compressor Market by 2029 is US$ 3.20 Bn.

4] What is the forecast period for the Booster Compressor Market?
Ans. The Forecast period for Booster Compressor Market is 2023-2029.

5] What was the market size of the Booster Compressor Market in 2022?
Ans. The market size of the Booster Compressor Market in 2022 was US$ 2.33 Bn.