Booster compressor method is a device utilized in rising the pressure that is released from the compressor system via extra compression stages. High pressure ability, production, compact size, low noise and installation and the reliability boost the booster compressors.
Statistics:
The booster compressor market was valued at US$ 3127.1 Mn in 2021 and is forecast to reach a value of US$ 5111.2 Mn by 2030 at a CAGR of 5.6% between 2022 and 2030.
Figure 1: Global Booster Compressor Market Value (US$ Bn) Analysis and Forecast, 2017 - 2030
North America held a dominant position in the booster compressor market Share in 2021
Statistics:
North America held dominant position in the booster compressor market in 2021, accounting for 51.0% share in terms of volume.
Figure 2: Global Booster Compressor Market Share (%), By Region, 2021
Key Developments:
In June 2021, Atlas Copco has adopted a distributor of the compressor in the North Carolina in U.S known as Compressed Air Systems, Inc. This acquirement is projected to improve the sales network of the company and also rise the new consumers based in the North America.
In February 2020, Atlas Copco AB attained a German distributor known as Dr. Gustav Gail Drucklufttechnik GmbH. The organization is situated in the southern part of the cologne and has a very potential market in the same location of the industrial compressor.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2022: | US$ 3127.1 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 5.6 % | 2030 Value Projection: | US$ 5111.2 Mn |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
KAESER KOMPRESSOREN SE, ATLAS COPCO AB, TGT FUEL TECHNOLOGIES, HITACHI LTD., CORKEN, INC., NIGEN INTERNATIONAL LLC, GENERON, SAUER USA., INGERSOLL RAND and JEREH GROUP |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Market Drivers:
Driver 1:
Booster compressor mimics a very crucial role in the total cycle of the oil& gas from exploration to the customers such as in exploration it is vastly utilized in the drilling activities in the offshore, nitrogen production and in any various compression station which is anticipated to boost the growth of the global booster compressor market. Additionally, booster compressor are also employed in the downstream sector for regulating the pressure over the gas transit.
Driver 2:
Furthermore, the quick adoption of the natural gas automotive and the rising consumption of the petroleum fuels in the developing regions, which is projected to boost the fuel stations further is anticipated to rise the need of the booster compressor and propel the growth of the global booster compressor market with predicted time frame.
Market Restraint:
Restraint 1:
Increase in the need for electric automotive and the regulatory initiatives & investments for the electro motive industry which is anticipated to hinder the growth of the global booster compressor market and also the conventional fuel which in turn is anticipated to hinder the growth of the market and also the need of the booster compressor as in charging stations there is no utilization of the booster compressors.
Restraint 2:
Due to the initiatives to market the utilization of the electric automotive, the production of the electric vehicles which is projected to grow at an exponential rate is further anticipated to hinder the growth of the global compressor market in the upcoming days. Furthermore, rise in pollution have raised the regulatory attention towards the utilization of the electric automotive is causing the reduction in need for oil and gas.
Market Opportunities:
Opportunity 1:
The rising number of the oil and gas exploration action in the onshore and offshore places is anticipated provide lucrative growth in the global booster compressor market. Moreover, oil and gas have altered their operations and the functions to the offshore ports and places that are purposely near to hydrocarbon resource areas due to the huge need for oil and gas fuel from several organizations.
Opportunity 2:
The increasing count of the activities continue to straightly donate to the growth in the usage of the oil and gas is in turn anticipated to improve the growth of the booster compressor market. Moreover, new hydrocarbon producing areas have huge untapped reserves, which are enough to fulfil the rising energy need in the future.
Market Key Takeaways/Trends:
Trend 1:
Air cooled booster compressor show benefits such as the waste heat recovery by employing waste heat to heat the infrastructure and powering heating battery that is further storing the money of the industries from several utility usage. Additionally, rising need of the air cooling method from several light engine starter methods, small air tools, high pressure tires and many others are anticipated to fuel the global booster compressor market growth.
Trend 2:
Rise in need of the water cooled booster compressors from huge duty applications such as manufacturing and production of the oil & gas exploration usage in the industrial huge power operations and functions and several others is anticipated to act as a key trend in the growth of the global booster compressor market. An additional benefit of the water cooled booster compressor are they can utilize hot water in cleaning, washing and showering.
Competitive Landscape:
Major companies operating the global booster compressor market are KAESER KOMPRESSOREN SE, ATLAS COPCO AB, TGT FUEL TECHNOLOGIES, HITACHI LTD., CORKEN, INC., NIGEN INTERNATIONAL LLC, GENERON, SAUER USA., INGERSOLL RAND and JEREH GROUP.
Many factories or the industries are able to fuel their own PSI without the requirement of a booster compressor. A booster is PSI usually needs much work to power up the tools and it prices very much to sustain the additional pressure. It means that the compressor makes it very easy to make and then sustain much than the average pressure.
Market Dynamics:
Rise in the tourism activities which causes an increasing need for the portable butane cylinder that also has caused rise in the need for the booster compressor market which act as a major driver in the booster compressor market, moreover, the quick development in the R-134 gas also play as a major driver to boost the market growth.
Additionally, increase in awareness for such effects on the PVC and other plastic goods led to the reduction in need for such goods has led to the decrease in need for the booster compressor and it is utilized in the manufacturing and the molding of the plastics which is anticipated to hinder the growth of the global booster compressor market.
The gas transmission from the pipelines leading the pressure loss over the friction, however, the booster compressor are utilized to maintain the needed pressure. Anyhow, the oil and gas segment is one of the main segments needed for the booster compressor market. Moreover, rising need of paints, PVC and medicines are anticipated to provide an opportunity to the booster compressor market.
Key features of the study:
Detailed Segmentation:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients