According to the latest report by IMARC Group, titled “Booster Compressor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global booster compressor market reached a value of US$ 3.24 Billion in 2021. A booster compressor is an equipment used to increase or amplify the pressure of an existing system. It can multiply air from the low-pressure compressor to yield compressed air at higher pressures. It consists of a valve cylinder head, discharge tank and provides water-based and air-based cooling. The booster compressor offers high-pressure production ability, safety, reliability, continuous high-pressure operation, efficiency, productivity, versatility, transportability, and profitability. As a result, it is widely used for testing pipeline pressures, producing polyethylene terephthalate (PET) bottles, increasing the volume and pressure of water in showerheads and faucets, optimizing engine starter systems and high-pressure tires, and enhancing torque in small air tools.
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:
The significant growth in the oil and gas industry across the globe is one of the key factors driving the market growth. Booster compressors are widely used in hydrocarbon blanketing, nitrogen generation, drilling activity, and compression stations. In line with this, the widespread product adoption to supply continuous gas to turbines and compressor stations to maintain the gas pressure during transit is favoring the market growth. Apart from this, the integration of the Internet of Things (IoT) and artificial intelligence (AI) for remote monitoring, providing alerts for an unscheduled oil change and preventive maintenance (PM), and analyzing performance is providing a thrust to the market growth. Additionally, the introduction of booster compressors with higher discharge pressure, capacity, efficiency, and operational characteristics is acting as another growth-inducing factor. Besides this, the rising need for air cooling, extensive research and development (R&D) activities, and increasing demand for electric vehicles (EVs) are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 4.49 Billion by 2027, exhibiting a CAGR of 5.30% during 2022-2027.
- On the basis of the cooling type, the market has been bifurcated into air and water.
- Based on the compression stage, the market has been divided into single, double, and multistage.
- On the basis of the power source, the market has been classified into electric and combustion engine.
- Based on the end user, the market has been divided into oil and gas, manufacturing, industrial testing, construction, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.?
- The competitive landscape of the industry has also been examined, with some of the key players being 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.
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