Booster Compressor Market

Booster Compressor Market

Growth Factors of Booster Compressor Market

The booster compressor market size was valued at USD 1.38 billion in 2023, and the market is now projected to grow from USD 1.47 billion in 2024 to USD 3.00 billion by 2032, exhibiting a CAGR of 9.36% during the forecast period of 2023-2030.

The COVID-19 pandemic created significant challenges on the operative elective surgeries as curbing coronavirus outbreak was prioritized over the surgeries that were not life-threatening unlike COVID. Therefore a huge decline in the elective procedures, operative dental procedures, orthopedic surgeries as well as emergency room visits in the hospitals and operation theatres were on a hold for a significant amount of period that caused an immense downfall in terms of number of post-operative surgeries during the pandemic period, impeding the rise of medical devices market growth.

Booster compressor market growth will be driven by continued compressor technology advancements. Contemporary booster compressors are equipped with sophisticated diagnostic and monitoring systems that continuously evaluate the compressor's operation, identify irregularities, and forecast impending failures. By spotting problems early on, these features assist operators in maximizing compressor efficiency, minimizing downtime, and cutting maintenance expenses. Proactive maintenance scheduling is made possible by real-time monitoring, guaranteeing peak performance and dependability. Use in Gas-fired power plants to raise demand for booster compressors. Because higher psi fuel gas pressures are necessary for gas turbines to operate more efficiently, compressor demands have increased concurrently. Additionally, variations in overall requirements and peak demand cause fluctuations in pipeline pressures. Therefore, throughout the projected period, the market demand for boosters would be driven by the increasing global awareness of the need to use low carbon emission energy sources.

Putting more of an emphasis on the manufacturing and processing sectors to promote booster compressor market growth. Some of the supportive rules that aid in the expansion of the market are those that promote and facilitate investment policies, entry and establishment of foreign investors, and strategic investment policy priorities.

Comprehensive Analysis of Booster Compressor Market

The booster compressor market and power and energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the power and energy benefit management industry. These segmentations are methodically segregated by cooling types, by compression stage, by discharge pressure and by end users. The cooling type segmentation include Air-Cooled and Water-Cooled, By Compression Stage segmentation include Single-Stage, Double-Stage, and Multi-Stage, By Discharge Pressure segmentation include Below 999 PSI, 1000-1499 PSI, 1500-4999 PSI, and Above 5000 PSI, By End User segmentation include. However, the end users segmentation include Oil & Gas, Power Generation, Industrial, and others.

The North America region lead the booster compressor market by benefitting a market size of USD 0.49 billion in 2023 due to growing the number of LNG-based power plants and the industrial and processing sectors, which include the companies that produce machinery and primary metals and governments are concentrating on modifying industrial policies and regulations.

The top players in the market play a crucial role in the power and energy industry assuring industrial prospectus growth and setting market standards. These players include, BOGE Compressed Air Systems GmbH & Co. KG (Germany), Atlas Copco (U.S.), KAESER KOMPRESSOREN (Germany), Ingersoll Rand (U.S.), Gardner Denver (U.S.), Air Research Compressors (Australia), Nigen International (U.S.), BAUER Kompressoren Group (Germany), CORKEN - an IDEX Energy business (U.S.), Sauer Compressors USA (U.S.), SIAD MACCHINE IMPIANTI (Italy), TGT Fuel Technologies Pvt Ltd (India), GENERON, INC. (U.S.), CKG INTERNATIONAL FZE (UAE), Hitachi (Japan), Özen Kompresör (Turkey) and Alup Kompressoren (Italy) these market players provide a level-playing competitive landscape.

In September 2023, With acquisitions, Sauer Compressors USA intends to accelerate the expansion of the compressed air and gas business and grow its activities in North America. The business has declared that it will grow its manufacturing facilities and enhance its technological and research capacities.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 9.36% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Cooling Type

• Air-Cooled
• Water-Cooled

By Compression Stages

• Single-Stage
• Double-Stage
• Multi-Stage

By Discharge Pressure

• Below 999 PSI
• 1000-1499 PSI
• 1500-4999 PSI
• Above 5000 PSI

By End-User

• Oil & Gas
• Power Generation
• Industrial
• Others

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• Southeast Asia
• Rest of Asia Pacific
• Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Mexico
• Rest of Latin America

Please Note: It will take 5-6 business days to complete the report upon order confirmation. Show more