The latest research study “Booster Compressor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global booster compressor market reached a value of US$ 3.24 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.49 Billion by 2027 exhibiting a CAGR of 5.30% during 2022-2027.
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Booster compressors are a piece of machinery designed to increase the pressure of an existing system. They offer water- and air-based cooling and consist of a delivered valve cylinder head, a received tank, and a discharge tank. They are commonly used to test the pressures in pipelines and industrial conduits, optimize high-pressure tires and engine starter systems, increase the flow and pressure of water in showerheads and faucets, produce PET bottles, and improve torque in small air tools. They offer high-pressure production capacity, productivity, adaptability, safety, efficiency, and portability. As a result, booster compressors find extensive applications in the manufacturing, chemical, and oil and gas industries across the globe.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Booster Compressor Market Trends and Drivers:
The global booster compressor market is primarily driven by the rapid growth in the oil and gas industry. Moreover, the escalating demand for compressed natural gas (CNG), liquified petroleum gas (LPG), and clean energy fuels due to the rising environmental consciousness is positively influencing market growth.
Besides this, numerous technological advancements, such as the integration of the Internet of Things (IoT) and artificial intelligence (AI) for remote monitoring, performance analysis, preventive maintenance (PM), and sending alerts for an unscheduled oil change, are other major growth-inducing factors. Additionally, there has been a rise in the use of booster compressors to supply continuous gas to turbines at specific pressure and temperature. In line with this, the surging product usage in hydrogen blanketing and nitrogen compression has catalyzed market growth.
Other factors, including favorable government policies, escalating demand for electric vehicles, and rapid expansion in the chemical industry, are also anticipated to create a positive market outlook.
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|Booster Compressor Market Report Scope|
|Market size value in 2021||US$ 3.24 Billion|
|Market forecast in 2027||US$ 4.49 Billion|
|Growth Rate||CAGR of 5.30% from 2022 to 2027|
|Base year for estimation||2021|
Global Booster Compressor Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Atlas Copco AB, BAUER COMP Holding GmbH, Bauer Compressors Inc., BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Gas Compression Systems Inc., Generon, Hitachi Ltd., IDEX Corporation, Ingersoll Rand Inc., Kaeser Kompressoren SE, Sauer Compressors USA Inc. and TGT Fuel Technologies Pvt. Ltd.
The report has segmented the market on the basis of region, cooling type, compression stage, power source and end user.
Breakup by Cooling Type:
Breakup by Compression Stage:
- Single Stage
- Double Stage
Breakup by Power Source:
- Combustion Engine
Breakup by End User:
- Oil and Gas
- Industrial Testing
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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