Booster Compressor Market, Industry Analysis Report, Regional Outlook, Application Development, Competitive Market Share and Forecast, 2020 - 2026
Report ID: GMI3617
The booster compressor market is set to grow on account of increasing investments in oil & gas exploration and rapid industrialization across emerging economies. Key factors including innovative designs and low installation cost will enhance the industry outlook. In addition, it further saves power and provides high-pressure air in comparison with other conventional products.
Growing demand for the gas owing to the stringent emission norms and rising environmental concerns will fuel the booster compressor market growth. Increase in the development of gas distribution lines coupled with the establishment of the booster stations will augment the business landscape.
The booster compressor market is anticipated to grow on account of rising petrol & diesel prices along with augmenting demand for other fuels including liquified petroleum gas and compressed natural gas which are more economically and technologically feasible. ongoing research and development efforts in the automotive industries to enhance the efficiency of gas operated engines will further enhance the business outlook.
Ongoing construction of LNG terminals across the globe will provide substantial growth prospects for the booster compressor market. Increasing capital expenditure toward the development of existing and upcoming projects will further complement the business landscape.
Rising applicability of gas in other industries including power generation and manufacturing plants will foster the booster compressor market. Increasing capital expenditure toward the gas infrastructure coupled with the growing opportunities for unconventional resources will augment the industry landscape. The compressors are implemented for different applications in the oil & gas industry including drilling activities hydrocarbon blanketing, nitrogen generation, compression station and lift services.
Increasing efforts in the shale development across primarily across the U.S. and China will propel the booster compressor market growth. Availability of substitute products including standalone high-pressure compressors can act as a barrier in growth. Booster compressors are used in different applications in various industries including gas boosting, air boosting, air separation, and compression of gases for transportation and storage.
The Asia Pacific will witness the substantial growth across the booster compressor market owing to the reduction in the imports and diversification of the energy basket. A paradigm shift toward cleaner fuels along with the growing demand for natural gas across the industries will positively enhance the business outlook. In addition, Improvement in petrochemical infrastructure on account of surge in refinery capacity and technological advancement will further augment the industry landscape.
Major players operating across the booster compressor market include Ingersoll Rand, Hitachi, Haskel, Gardner Denver, Kaeser Kompressoren, Bauer Kompressoren, Atlas Copco, Idex Corporation, BHGE, SAUER Compressor, and Maximator.
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