IMARC Group, a leading market research company, has recently releases report titled “Booster Compressor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global booster compressor market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Booster Compressor Market?
The global booster compressor market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
A booster compressor comprises a delivered valve cylinder head, received tank and discharge tank and provides water-based and air-based cooling. It uses a reciprocating or rotary mechanism to compress the gas. It offers high-pressure production ability, safety, reliability, continuous high-pressure operation, efficiency, productivity, versatility, transportability, and profitability.
What are the growth prospects and trends in the booster compressor industry?
There is an increase in the use of booster compressors in the oil and gas industry to supply continuous gas to turbines at specified pressure and temperature. They are also utilized in hydrocarbon blanketing, nitrogen generation, drilling activity, and compression stations. This represents one of the primary factors bolstering the market growth around the world.
Moreover, rising sales of electric vehicles (EVs) on account of increasing demand for fuel efficient vehicles, rapid urbanization and inflating income levels are favoring the growth of the market. In addition, the growing demand for liquified petroleum gas (LPG), compressed natural gas (CNG) and clean energy fuels on account of increasing environmental concerns are influencing the market positively.
Besides this, key players are introducing booster compressors with higher discharge pressure, capacity, efficiency, and operational characteristics. They are also investing in several research and development (R&D) activities, which is anticipated to propel the market growth.
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What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
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.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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