The Global Booster Compressor Market is presently worth USD 3.35 billion and is poised to amplify at a CAGR of 5.6% over 2022-2030, thereby amassing a valuation of USD 5.1 billion by end of the assessment timeline.
The market for booster compressors is predicted to grow more quickly in the near future due to reasons including the expansion of industrial projects around the world and the rising demand for natural gas for a variety of purposes, which will result in the construction of more gas pipeline projects. However, as the technology requires expensive installation, using existing compression systems to save excessive investment on new installations is expected to limit market expansion.
A device used to enhance the circulation of pre-compressed air in a system is known as an air pressure booster system. The low-pressure compressor's air can be multiplied by this booster to produce compressed air at higher pressures. When compared to the ordinary pressure produced by various machinery in factories, a booster compressor can increase pressure in systems by a factor of 4 to 6.
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By 2030, the air sector is expected to retain a sizable portion of the booster compressor market based on cooling type. The expansion of the air-cooled form of current compressor packages is credited with this segment's growth. Businesses can also make up for heat loss from air-cooled booster compressors by heating buildings or powering preheating batteries. By using this compressor type, significant utility savings will be realised, which will accelerate segmental expansion over the anticipated time range.
Companies like Maximator, SAUER Compressors, Baker Hughes Company (previously BHGE), Atlas Copco, Bauer Kompressoren, Kaeser Kompressoren, Gardner Denver, Haskel (Ingersoll Rand), and Hitachi are among those that compete in the booster compressor market. These companies are taking steps to strengthen their presence in the cutthroat industry, including strategic product launches, acquisitions, and mergers. For instance, Kaeser announced a CNC series of booster compressors in April 2021. These compressors are intended to make installation easier, provide better machine safety, and have a smaller footprint.
COVID-19 to Impact Booster Compressor Market Trends:
Due to the ongoing coronavirus pandemic's devastating effects on government revenue, decreased demand, and bloated inventories of petroleum and crude output, the oil and gas industry has been severely impacted. The oil and gas industry has also been impacted by this environment to lower capital expenditures to support their financial sheets. However, the slow recovery of the oil and gas industry from the pandemic and the urgent need for patients with COVID-19 to have access to medical-grade oxygen may help the sector recover. The demand for oxygen booster compressors is anticipated to increase in the near future due to the product's potential to be utilised in pressure swing adsorption (PSA) oxygen plants to raise production for hospital consumption.
Global Booster Compressor Market- Segmental assessment
By cooling type
- Air
- Water
- Others
The water cooled booster segment holds the largest market share, and is projected to grow further in the future years, due to the rise in demand for booster compressor from large-scale industries such as mining, plastics, chemical, manufacturing, industrial testing, and power generation.
By compression stage
- Single stage
- Double stage
- Multi stage
- Others
By power source
- Electric
- Combustion engine
- Others
By end-user
- Manufacturing
- Industrial testing
- Oil and gas
- Construction
- Others
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