Global Booster Compressor Market Is Expanding Owing To Increasing Tourism Activities and Growing Demand of CNG and Petroleum Products



Global Booster Compressor Market
Global Booster Compressor Market

Booster compressors are used for the purpose of high-pressure air supply and compression. These compressors are commonly used in industrial applications such as manufacturing, food & beverages packaging, and construction. Booster compressors are capable of generating high-pressure compressed air for a limited period of time. They are usually pneumatic. Booster compressors are widely used in various high-pressure applications such as petrochemicals, oil & gas, and industrial conduit pressures. Moreover, the use of booster compressors is increasing in the manufacturing industry as well. The demand for booster compressors is also expected to increase due to the rise in natural gas pipeline projects.

The Booster Compressor Market was valued at US$ 3127.1 Mn in 2021 and is forecast to reach a value of US$ 5111.2 Mn by 2030 at a CAGR of 5.6% between 2022 and 2030.

Increasing acquisitions by key players is anticipated to propel growth of the global booster compressor market over the forecast period. For instance, Atlas Copco acquired Compressed Air Systems, Inc., a distributor of compressor from North Carolina in June 2021. This acquisition is aiming to improve the sales network and consumer base for the company. Moreover, lack of large number of fuel stations is estimated to hinder growth of the global market over the forecast period.

Impact of COVID-19:

The outbreak of the virus hampered growth of many businesses around the world. To control the spread of the virus many restrictions were imposed by several governments around the world. The pandemic had adverse impacts on the oil and gas industry. This was a result of low demand, inflated stockpiles of crude production and government revenues. This also led to reducing the capital expenditures for supporting the business. This had a negative impact on the growth of the global booster compressor market. However, the increasing demand for medical-grade oxygen for patients suffering from COVID-19 is estimated to assist in market recovery.

Key Takeaways:

The global booster compressor market is anticipated to witness significant growth, exhibiting CAGR of XX% over the forecast period, owing to growing product launches by key players. For instance, a CNC line of booster compressors were unveiled by Kaeser in April 2021. These were designed for protecting the machine and also reducing the difficulties of installation.

Asia Pacific is anticipated to witness significant growth in the global market over the forecast period, due increasing end-user industries the region. Major players operating in the global market are Hitachi, Maximator, Haskel, SAUER Compressors, Gardner Denver, Baker Hughes Company, Kaeser Kompressoren, and Atlas Copco.

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