Market Size of Booster Compressor Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Booster Compressor Market Analysis
The booster compressor market is expected to register a CAGR of around 3.5% during the forecast period. The COVID-19 pandemic had an impact on the compressors market in the form of suspensions and halts in industrial projects. The compressor companies envisaged degrowth in their revenues during the outbreak. For example, companies like Atlas Copco AB recorded SEK 47.3 billion in FY 2020-21 from its Compressor Technique segment, which decreased from SEK 48.2 million in FY 2019-20. The booster compressor market is expected to have an accelerated growth in the near future ascribed to the factors like the growth in industrial projects across the globe and escalating natural gas demand for various applications, leading to more gas pipeline projects in place. However, the use of existing compression systems to avoid high expenditure on new installations is likely to constrain the market growth, as the technology involves high installation costs.
- The oil and gas segment is likely to be at the forefront in the coming years due to the proliferation in the number of gas pipeline projects planned recently.
- The rapid expansion in the power generation industry, particularly the gas-fired power generation, places ample opportunities for the booster compressor market. The technology can witness an elevation in its deployment due to the global shift toward clean fuel-based power generation methods like natural gas. The natural gas-based power generation was recorded as 6268 TWh in 2020, a steady growth in the last ten years.
- The Asia-Pacific region is expected to ace the market during the forecast period due to the increase in energy consumption in developing economies.
Booster Compressor Industry Segmentation
The booster compressor market report includes:
| Cooling Type | |
| Air-cooled | |
| Water-cooled |
| End User | |
| Oil and Gas | |
| Chemical | |
| Power Generation | |
| Other End Users |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South-America | |
| Middle-East and Africa |
Booster Compressor Market Size Summary
The booster compressor market is poised for growth, driven by increasing industrial projects and the rising demand for natural gas across various applications. This growth trajectory is expected despite the challenges posed by the COVID-19 pandemic, which had previously led to revenue declines for companies in the sector. The market's expansion is largely attributed to the proliferation of gas pipeline projects, particularly in the oil and gas segment, where booster compressors are extensively utilized. The power generation industry, especially gas-fired power generation, presents significant opportunities for market growth as the global energy landscape shifts towards cleaner fuel sources like natural gas. The Asia-Pacific region is anticipated to lead the market, fueled by heightened energy consumption in developing economies and a surge in power generation and gas transmission projects.
Booster compressors play a crucial role in the oil and gas value chain, with significant deployment in midstream gas pipeline transit systems. The global shift towards natural gas consumption for energy needs is driving the expansion of gas transmission networks, with many countries converting existing oil pipelines to gas supply systems. Notable projects, such as the Adelphia Gateway Project in the United States and the Sicily-Malta gas pipeline in Europe, exemplify this trend. In Asia, rapid urbanization and stringent regulations for cleaner power generation are spurring new gas-based power plant projects and gas transmission pipeline plans. Major companies in the fragmented booster compressor market, including Boge Compressors Ltd, Atlas Copco Ltd, and Ingersoll-Rand PLC, are actively participating in these developments, further propelling market growth.
Booster Compressor Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Cooling Type
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2.1.1 Air-cooled
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2.1.2 Water-cooled
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2.2 End User
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2.2.1 Oil and Gas
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2.2.2 Chemical
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2.2.3 Power Generation
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2.2.4 Other End Users
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South-America
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2.3.5 Middle-East and Africa
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Booster Compressor Market Size FAQs
What is the current Booster Compressor Market size?
The Booster Compressor Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Booster Compressor Market?
Boge Compressors Ltd, Ingersoll-Rand plc , Atlas Copco AB, Kaeser Compressors Inc. and Bauer Compressors Inc. are the major companies operating in the Booster Compressor Market.
