A booster air compressor pressure amplifier works on the simple principle that within a closed system, the pressure increases as the volume decreases. An air booster compression system consists of a receiver tank, pipework, and discharge tank.
Statistics:
The global booster compressor market is estimated to account for US$ 3312.3 Mn in terms of value by the end of 2022.
Drivers:
Increase in the tourism activities which leads to the rising need for the portable butane cylinder that is anticipated to propel the growth of the global booster compressor market. As per a report published by World Tourism Organization, around 1.460 billion travelers are there across the globe.
Opportunity:
The gas transmission from the pipelines leading the pressure loss over friction and the increasing need of paints, PVC and the medications is expected to offer a lucrative opportunity in the growth of the global booster compressor market.
Recent Development:
In May 2019, Corken, has left the bearing carriers for all the compressors. The outlook of the bearing carriers have altered however the functionality and working have not changed. Earlier, the compressors have used air from the crankcase oil pressure to evaluate the valve unloading the mechanism. These all compressors would cause to the new range of the goods.
Restraint:
Rise in awareness of effects on the PVC and other plastic goods led to the decrease of booster compressor use in manufacturing and the molding of plastics which is expected to hamper the growth of the global booster compressor market.
Global Booster Compressor Market - Impact of Coronavirus (Covid-19) Pandemic
The Covid-19 outbreak had led to the adverse impact on the growth of the global booster compressor market as several organizations and the regions across the world experienced the shutdown and the reduction in the growth of the industries such as the oil and gas, transportation industry. Several others decreased the need of the booster compressors further hampering the growth of the global booster compressor market.
To know the latest trends and insights prevalent in the Global Booster Compressor Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/booster-compressor-market-5092
Key Takeaways:
The global booster compressor 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 CARG of 5.6% between 2022 and 2030.
Combustion Engine Segment held the dominant position in the global booster compressor market in 2022, accounting for 53.2% share in terms of value, increasing approval and launch of new products is expected to propel the growth of the segment during the forecast period.
Key Trends/Takeaways:
Trend 1:
Rising environmental concerns & better fuel efficiency led to rise in demand for electrical products which also led to rise in demand of electric booster compressor and act as the main trend for booster compressor market and is expected to boost the growth of global booster compressor market during the forecast period.
Trend 2:
Electric booster compressor is easily operatable and can be easily moved from one place to another. The consumption of electricity in industries such as car plant, steel industries and others use electrical products due to the easy accessibility acts as the major trend in the growth of the booster compressor 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.
