BOOSTER COMPRESSOR MARKET ANALYSIS

A booster system refers to a device used to optimize pre-compressed air circulating in a system. This booster is accomplished of multiplying air from the low-pressure compressor to produce compressed air at higher pressures. A booster compressor can boost pressure in systems, usually by 4 to 6 times comparatively to normal pressure generated by various machines in factories.

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

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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.

Figure 2: Global Booster Compressor Market Share (%), By Region, 2021

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Market Drivers:

Driver 1:

Rising demand in oil& gas industry, petroleum and CNG products is expected to propel the growth of the global booster compressor market. As per Statista, the capacity of oil produced in a day is amounted around 89.9 million barrels in 2021.   

Driver 2:

Rising demand for the products such as deodorants, perfumes and hair spray is expected to propel the growth of the global booster compressor market. As per a Statista, it is observed that around 98.54 million Americans use hair spray on regular basis.

Market Restraint:

Restraint 1:

Industrial manufacturers depend on servicing and constantly use the existing compressors rather than investing in the new compressors to reduce the spending due to high cost of booster compressors is expected to hamper the growth of the booster compressor market.

Restraint 2:

Rising demand of electric vehicles and decreasing number of fuel stations is projected to hamper the growth of global booster compressor market. As per Statista the sales of electric vehicles is estimated to be around 4, 29,217 units in FY22 compared to 1, 34,821 units in FY21.

Market Opportunities:

Opportunity 1:

With the rising demand of oil & gas industry, there is a fueling need of crude oil which is projected to fuel the growth of the global booster compressor market. As per Statista the Global oil production evaluated to 89.9 million barrels per day in 2021and was around 95 million barrels per day in 2019.  

Opportunity 2:

Increasing demand for water cooled booster compressors from heavy duty applications such as manufacturing, oil & gas exploration & production applications, industrial high-power operations and several others is expected to drive the growth of the booster compressor market during the forecast period.

Market Key Takeaways/Trends:

Trend 1:

Governments are aiming on improving industrial policies and rules to create a conducive surrounding for exploring new industries and enhancing sustainability among key players is expected to boost the growth of the booster compressor market   .

Trend 2:

Increase in demand for single stage booster compressor from light duty and short period high pressure application with pressure need of less than 100 pounds per square inch gauge (PSIG) is projected to drive the growth of the market during the forecast period.

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.