DUBLIN--(BUSINESS WIRE)--The "Booster Compressor Market by Cooling Type (Air, Water), Stage (Single, Double, Multi), Pressure Rating (14-40 bar, 41-100, 101-350, >350), End use Industry (oil & gas, process, chemicals, power) and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The booster compressor market is estimated to be USD 1.92 billion in 2018 and is projected to grow at a CAGR of 4.50%, to reach USD 2.39 billion in 2023.
Factors driving the growth of the booster compressor market are increased investments in the oil & gas drilling activities and refining capacity addition. Booster compressors are required in the oil & gas drilling process and also for air separation in refineries. Thus, growing investments in oil & gas will create demand for booster compressors. The availability of alternative products such as the standalone high-pressure compressor can act as a restraint for the booster compressor market.
The oil & gas segment is the fastest growing, during the forecast period. The factor driving the growth of booster compressors in the oil & gas sector is the growing investments in the upstream market. Booster compressors are used in varied applications in the upstream market such as nitrogen generation, hydrocarbon blanketing, and air separation. Thus, the investments in the upstream activity create demand for booster compressors.
Asia Pacific is projected to be the largest market for booster compressors during the projected period. The factor driving the growth of the booster compressor market is high demand for oil & gas due to the rapidly developing manufacturing industry. The major economies in the region such as China, India, and Australia are investing heavily in oil & gas, primarily to reduce their imports. These countries are also undertaking projects for the development of the LNG pipelines.
These projects are developed in order to strengthen their distribution network in the country. The LNG pipeline require compressor station, which use booster compressors to maintain the pressure of gas in transit. Thus, the growing investments in oil & gas exploration will create demand for the booster compressor market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Booster Compressor Market, By Cooling Type
7 Booster Compressor Market, By Compression Stage
8 Booster Compressor Market, By Pressure
9 Booster Compressor Market, By End-User
10 Booster Compressor Market, By Region
11 Competitive Landscape
12 Company Profiles
- Atlas Copco
- Kaeser Kompressoren
- Boge Kompressoren
- SAUER Compressor
- BAUER Kompressoren
- Ingersoll Rand
- Gardner Denver
- Idex Corporation
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