Booster Compressor Market | Share and Forecast [2021-2031]
The booster compressor market size is projected to reach US$ 4.26 billion by 2031 from US$ 2.91 billion in 2023. The market is expected to register a CAGR of 4.9% in 2023–2031. A rise in the demand for portable boosters and an increase in funding for oil and gas exploration and production operations is likely to remain a key booster compressor market trend.
Booster Compressor Market Analysis
The market for booster compressors is expected to grow rapidly in the near future due to the expansion of industrial projects globally and the increasing demand for natural gas for various purposes. This growth is anticipated to lead to an increase in gas pipeline projects. The substantial advancement of end-use sectors, including oil & gas, mining, manufacturing, construction, automotive, and others, is propelling the expansion of the booster compressor industry. Furthermore, the rising need for booster compressors in industrial testing is contributing to the market's global growth.
Booster Compressor Market Overview
A booster compressor is a specialized device created to elevate system pressure, typically four to six times higher than the pressure produced by standard factory equipment. Due to the potential difficulties and costs associated with maintaining such elevated pressure levels, most businesses utilize a booster compressor on a temporary basis. While it can be utilized for operating equipment, it is most commonly employed for testing purposes. While the majority of these compressors are pneumatic or air-powered, some also utilize alternative power sources.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Booster Compressor Market: Strategic Insights
Market Size Value in US$ 2.29 Billion in 2018 Market Size Value by US$ 3.48 Billion by 2027 Growth rate CAGR of 4.9% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Booster Compressor Market: Strategic Insights
![booster-compressor-market](https://www.theinsightpartners.com/assets/rdimages/booster-compressor-market-img1.png)
Market Size Value in | US$ 2.29 Billion in 2018 |
Market Size Value by | US$ 3.48 Billion by 2027 |
Growth rate | CAGR of 4.9% from 2019-2027 |
Forecast Period | 2019-2027 |
Base Year | 2019 |
![Analyst Image](https://www.theinsightpartners.com/assets/naveen-chittaragi.png)
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
![Analyst Image](https://www.theinsightpartners.com/assets/images/speak_analyst.gif)
Booster Compressor Market Drivers and Opportunities
Adoption of Booster Compressor in Enhanced Oil Recovery Techniques to Favor the Market
The natural gas industry has been increasingly focusing on developing more technologically challenging unconventional gas reserves, such as shale, tight sands, and coalbed methane. This has led to the utilization of pressurized gas during the enhanced oil recovery (EOR) and secondary recovery phases of crude production to increase the pressure within the formation and stimulate well productivity. As a result, compressors ranging from 1040 to 3900 horsepower are being used for this purpose, thereby driving the demand in the oil and gas sector
Increased Utilization in Gas-Fired Power Plants – An Opportunity for the Market
The demand for booster compressors is increasing due to the transition from coal-based power plants to natural gas-fired power plants for electricity generation. Germany, for example, has passed legislation to end coal-fired power generation by 2038, and many countries worldwide are investing in natural gas power plant projects. Gas turbines in these power plants require a specific pressure of fuel gas to combine with pressurized air before combustion. As a result, the demand for compressors has been growing, as gas turbines require higher fuel gas pressures to achieve better performance efficiency. Additionally, pipeline pressures fluctuate due to increased peak demand and overall requirements. This shift towards low-carbon emission energy sources globally is driving the market demand for boosters during the forecast period.
Booster Compressor Market Report Segmentation Analysis
Key segments that contributed to the derivation of the booster compressor market analysis are pressure, type of cooling, compression stage, and industry vertical.
- Based on pressure, the market is segmented into 14-40 Bar, 41-100 Bar, 101-350 Bar, and >350 Bar. The 41-100 Bar segment held a substantial market share in 2023.
- Based on the type of cooling, the market is divided into water and air. The water segment is expected to hold a significant share of the market in 2023.
- Based on the compression stage, the market is divided into single, double, and multi. The single segment is expected to hold a significant share of the market in 2023.
- Based on industry vertical, the market is segmented into manufacturing, chemicals, oil and gas, energy & power, and others. The manufacturing segment held a substantial market share in 2023.
Booster Compressor Market Share Analysis by Geography
The geographic scope of the booster compressor market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Europe is anticipated to experience substantial growth in power demand, driven by the increased use of high-pressure industrial gases in sectors such as steel, oil & gas, metal & mining, and manufacturing & processing. This rise in demand for the market across Europe is expected to lead to a 1.5% annual growth in natural gas demand from 2019 to 2025, as indicated by the International Energy Agency (IEA). In 2019, Europe imported a significant volume of LNG, amounting to 108 billion cubic meters (bcm), which accounted for 27% of total gas imports, according to the European Commission (EC) report on the gas market. Additionally, 22% of Europe's gas consumption is attributed to the spot market and does not involve capital expenditure from small players, further driving the demand for the market in the region.
Booster Compressor Market Report Scope
Booster Compressor Market News and Recent Developments
The booster compressor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- Hycomp Inc.’s technology has become part of Atlas Copco Group. The company designs produces, sells, and services specialized high-pressure oil-free compressors and boosters for a variety of industries.
(Source: Atlas Copco AB, Press Releases, 2024)
Booster Compressor Market Report Coverage and Deliverables
The “Booster Compressor Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Pressure ; Type of Cooling ; Compression Stage ; Industry Vertical
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The market is expected to reach US$ 4.26 billion by 2031.
The key players holding significant shares in the market are Atlas Copco AB, Baker Huges (General Electric), BAUER COMP Holding GmbH, Boge Kompressoren, and Corken, Inc.
Increase in funding for oil and gas exploration and production operations is anticipated to play a significant role in the market in the coming years.
The adoption of booster compressors in enhanced oil recovery techniques and the rise in the demand for portable boosters are the major factors that propel the market.
The market was estimated to be US$ 2.91 billion in 2023 and is expected to grow at a CAGR of 4.9% during the period 2023 - 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.