Booster Compressor Market Size, Share, Growth Analysis, By Cooling Type(Air, Water), By Compression Stages(Single stage, Double stage, and multi-stage), By Discharge Pressure(Below 999 PSI, 1000-1499 PSI, 1500-4999 PSI, above 5000 PSI), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20E2047 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 90 | Figures: 76

Booster Compressor Market News

March 8, 2023: Atlas Copco announced the acquisition of Compressed Air Systems, Inc., a distributor of compressors in the United States. This acquisition will help Atlas Copco to expand its sales network in the US.

February 25, 2023: Kaeser Kompressoren introduced a new line of CNC-controlled booster compressors. These compressors are designed to be more efficient and precise than traditional booster compressors.

·January 20, 2023: Gardner Denver announced the launch of its new line of air-cooled booster compressors. These compressors are designed to be more compact and energy-efficient than traditional air-cooled booster compressors.

December 15, 2022: Hitachi announced the development of a new type of booster compressor that uses magnetic bearings. These bearings are designed to reduce friction and vibration, which can improve the efficiency and reliability of the compressor.

·November 8, 2022: Maximator announced the launch of its new line of booster compressors for the natural gas industry. These compressors are designed to meet the specific needs of the natural gas industry, such as high pressure and high temperature operation.

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Booster Compressor Market size was valued at USD 8.15 billion in 2022 and is poised to grow from USD 8.52 billion in 2023 to USD 12.22 billion by 2031, growing at a CAGR of 4.60% during the forecast period (2024-2031).

The competitive landscape of the booster compressor market is marked by intense rivalry among established industry players and the emergence of innovative entrants. Leading companies such as Atlas Copco, Ingersoll Rand, Siemens AG, Gardner Denver, and Bauer Kompressoren dominate the market with their comprehensive product portfolios and wide geographic reach. These industry giants compete through continuous technological advancements, strategic collaborations, and a focus on offering customized solutions to cater to diverse customer needs 'Atlas Copco (Sweden)', 'Ingersoll Rand (Ireland)', 'Siemens AG (Germany)', 'Gardner Denver (USA)', 'Bauer Kompressoren (Germany)', 'KAESER Kompressoren (Germany)', 'Sulzer AG (Switzerland)', 'Quincy Compressor (USA)', 'Hertz Kompressoren (Italy)', 'Kobe Steel Ltd. (Japan)', 'Sullair LLC (USA)', 'Sauer Compressors (Germany)', 'Dresser-Rand (USA)', 'Fusheng Group (Taiwan)', 'Hanwha Techwin Co. Ltd. (South Korea)', 'Anest Iwata Corporation (Japan)', 'Mattei Compressors (Italy)', 'Powerex Inc. (USA)', 'BOGE Compressors (Germany)', 'Kobelco Compressors (Japan)'

Growing aftermarket demand for maintenance, repair, and replacement parts, coupled with service contracts, provides sustained revenue opportunities for booster compressor manufacturers.

Industrial Automation Integration: Increasing integration of booster compressors with industrial automation and digitalization technologies, such as IoT and AI, to enhance operational efficiency, remote monitoring, and predictive maintenance.

The booster compressor market is segmented across regions, encompassing North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In North America, the United States and Canada emerge as promising hubs for the oil and gas sector. The U.S. Energy Information Administration underscores this potential with estimates of substantial proved reserves amounting to 494.6 trillion cubic feet of natural gas. The shift towards LNG-based power plants as a response to dwindling coal resources presents a notable growth avenue for booster compressors, fueling market expansion. Projected growth in gas demand, particularly driven by the industrial and power sectors, aligns with U.S. government initiatives to introduce 18 GW of new gas-based power plants by 2022, underpinning a robust market ecosystem. Furthermore, the manufacturing and processing industries, constituting 11% of the U.S. economy, further contribute to the market's vigor.

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Booster Compressor Market Size, Share, Growth Analysis, By Cooling Type(Air, Water), By Compression Stages(Single stage, Double stage, and multi-stage), By Discharge Pressure(Below 999 PSI, 1000-1499 PSI, 1500-4999 PSI, above 5000 PSI), By Region - Industry Forecast 2024-2031

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