Booster Compressor Market Overview - 2030
The global booster compressor market size was valued at $3.0 billion in 2020, and is expected to reach $5.1 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030. Booster compressor system is the equipment used in increasing the pressure coming from given compressor system through additional compression stages. The key advantages of booster compressor include high pressure production ability, portability, continuous high-pressure operation, reliability, and others. In addition, key features of booster compressor include compact size, easy installation, less noise, and others.
The growth of the global booster compressor market is driven by rise in demand for high pressure from various operations in various end-uses. However, implementation of stringent government regulations toward environmental pollution from plastic products and rapid development of the electric vehicle industry are the key factors hampering the growth of the market. On the contrary, rapid transition from coal power station to gas power station and rise in use of gas in the vehicles are anticipated to provide lucrative growth opportunities for the key players to maintain the position in the market in the upcoming years.
The global booster compressor market is segmented into cooling type, compression stage, power source, end-use and region. Depending on cooling type, the market is bifurcated into air and water. On the basis of compression stage, it is categorized into single stage, double stages, and multi stage. As per power source, it is classified into electric and combustion engine. The end-uses covered in the study include manufacturing, industrial testing, oil & gas, construction, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global market covers in-depth information of the major booster compressor industry participants. Some of the major players in the market include Atlas Copco AB Corken Inc., Generon, Hitachi Ltd., Ingersoll Rand, Jereh Group, Kaeser Kompressoren NiGen International L.L.C., Sauer Compressors USA, and TGT Fuel Technologies.
Other players in the value chain of the booster compressor market include Boge Compressors Ltd, Hanbell, Haskel, Gas Compression Systems, and others.
The key players are adopting numerous strategies such as product launch, agreement, partnership, acquisition, and business expansion, to stay competitive in the global market.
For instance, in June 2021, Atlas Copco AB acquired a distributor of compressor in North Carolina in the U.S. named Compressed Air Systems, Inc. (CAS). This acquisition is expected to enhance the sales network of company and also increase the new customer base.
In addition, in February 2021, Ingersoll Rand completed the acquisition of Tuthill Vacuum and Blower Systems, a division of Tuthill Corporation. This acquisition, fits strategically with the company’s portfolio of air compression technologies.
Booster compressor market, by cooling type
By cooling type, the water-cooled booster compressor segment held the largest booster compressor market share in 2020, This is owing to increase in demand for booster compressor from large-scale industries such as mining, plastics, chemical manufacturing, industrial testing, and power generation.
By Cooling Type
Water segment is projected as the most lucrative segment.
Booster compressor market, by compression stage
On the basis of compression stage, the double stage segment dominated the global market in 2020, in terms of share, owing to advantages associated with double stage booster compressors such as more economical, low power consumption, low compressor displacement, and low discharge temperature. In addition, rise in demand for double stage booster compressor from heavy duty applications such as lifting, screwing, greasing, painting, and others, in furniture factories, food & beverages packaging industry, aerospace & military construction and others, is anticipated to fuel the growth of the market during the analyzed time frame.
By Compression Stage
Double Stage is projected as the most lucrative segment.
Booster compressor market, by power source
By power source, the combustion engine segment garnered the highest market share in 2020. This is attributed to increase in demand for combustion engine booster compressors from oil & gas products and rise in oil & gas exploration and production activities across the globe. In addition, this booster compressor can be used at any remote area since fuel is easily transferable and rising development in such area is further anticipated to fuel the market growth from 2021 to 2030.
By Power Source
Combustion Engine is projected as the most lucrative segment.
Booster compressor market, by end-use
On the basis of end-uses, the oil & gas segment exhibited the highest market share in 2020. This is attributed to rise in demand for booster compressor from upstream, downstream, and midstream applications such as drilling activities, hydrocarbon blanketing, refining and others. In addition, rise in demand for petrochemicals products such as PVC, paints, drugs and many others, is expected to drive the growth of market in the upcoming years.
By End Use
Oil & Gas is projected as the most lucrative segment.
Booster compressor market, by region
North America garnered the highest share in the booster compressor market in 2020, in terms of revenue, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to the presence of key players and huge consumer base in the region. In addition, booster compressor is gaining importance in the construction, food & beverages packaging, manufacturing, and oil & gas industries, owing to its reliability and superior high-pressure efficiency, which, in turn, are expected to augment the growth of the market during the forecast period.
By Region
North America holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
COVID-19 impact on the market
Lockdowns imposed due to the outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries, which decreased the demand for booster compressors from these consumers. This resulted in decline in market growth in the second, third, and fourth quarters of 2020. However, the booster compressor market is expected to recover by the first quarter of 2021 as COVID-19 vaccination has started in various economies across the globe, which is expected to improve the global economy.
Key Benefits For Stakeholders
- The report provides an extensive qualitative and quantitative analysis of the current booster compressor market trends and future estimations of the global market from 2021 to 2030 to determine the prevailing opportunities.
- A comprehensive booster compressor market analysis of the factors that drive and restrict the market growth is provided.
- Estimations and booster compressor market forecast are based on factors impacting the market growth, in terms of value.
- Profiles of leading players operating in the market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable booster compressor market growth.
Key Market Segments
By cooling type
- Air
- Water
By compression stage
- Single stage
- Double stage
- Multi stage
By power source
- Electric
- Combustion engine
By end-use
- Manufacturing
- Industrial Testing
- Oil & Gas
- Construction
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Booster Compressor Market Report Highlights
| Aspects | Details |
 By Cooling type |
|
 By Compression stage |
|
 By Power source |
|
 By Region |
|
 By End-use |
|
 Key Market Players | TGT FUEL TECHNOLOGIES, GENERON, HITACHI LTD., JEREH GROUP, INGERSOLL RAND, SAUER USA, ATLAS COPCO AB, CORKEN, INC., NIGEN INTERNATIONAL LLC, KAESER KOMPRESSOREN SE |
Analyst Review
Rapid industrialization is the key factor attributed to the leading position of North America and Asia-Pacific region in the global booster compressor market. The Asia-Pacific region is further expected to provide lucrative opportunities to leading booster compressor manufacturers, owing to its huge potential to set up manufacturing plants and surge in demand for high pressure operations.
Increase in demand for maintaining specific pressure is the key factor driving the growth of the global booster compressor market during the forecast period. However, implementation of stringent government regulations toward environmental pollution owing to the use of plastic products is expected to hamper the growth of the market during the analyzed time frame. On the contrary, rapid transition from coal power station to gas power station and rise in use of gas in the vehicles are anticipated to provide remunerative opportunity for the key players to maintain the pace in the booster compressor market in the upcoming years.
Renowned global market leaders such as Atlas Copco AB, Corken, Inc., Ingersoll Rand, Jereh Group and others are adopting various key growth strategies to strengthen their market position. Furthermore, these companies are focused on agreement, acquisition, business expansion and product launch, to cater to the increasing demand for booster compressor.
Among the analyzed regions, North America is expected to account for the highest revenue in the market by the end of 2030, followed by Asia-Pacific, Europe, and LAMEA.
Rise in investment towards oil & gas exploration and production activities is expected to be the key trend in the booster compressor market.
The potential customers of the booster compressor market are manufacturing, industrial testing, oil & gas, construction, and others.
To get latest version of booster compressor market report can be obtained on demand from the website.
Rise in demand for petroleum products from developing economies, increase in demand for air-filled products & industrial testing applications and rapid growth of plastic or PVC products from developing economies are key factors drives the booster compressor market growth during the forecast period.
The key growth strategies adopted by booster compressor market players product launch, business expansion, acquisition, agreement and partnership.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
On the basis of cooling type, water cooled segment will drive the booster compressor market growth during the forecast period. On the basis of compression stage, double stages segment will drive the growth of the booster compressor market. By power source, combustion engine will fuel the growth of the market. On the basis of end use, oil & gas will propel the growth of the market.
Top players in the booster compressor market are Atlas Copco AB, Corken Inc, Generon, Hitachi Ltd., Ingersoll Rande, Jereh Group, Kaeser Kompressoren, NiGen International L.L.C., Sauer Compressors USA and TGT Fuel Technologies.
In terms of revenue, the market size of booster compressor market is anticipated to reach $5.11 billion by 2030, growing at CAGR of 5.6% from 2021 to 2030.
North America will provide business opportunities for booster compressor market during the forecast period. This is attributed to the huge consumer base in the region. In addition, booster compressor is gaining importance in the construction, food & beverages packaging, manufacturing, and oil & gas industries, owing to its reliability and superior high-pressure efficiency, which, in turn, are expected to augment the growth of the booster compressor market during the forecast period.
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