Booster Compressor Market Size, Share & Industry Analysis, By Cooling Type (Air-Cooled and Water-Cooled), By Compression Stage (Single-Stage, Double-Stage, and Multi-Stage), By Discharge Pressure (Below 999 PSI, 1000-1499 PSI, 1500-4999 PSI, and Above 5000 PSI), By End User (Oil & Gas, Power Generation, Industrial, and Others), and Regional Forecast, 2024-2032

The global booster compressor market size was valued at USD 1.38 billion in 2023 and is projected to grow from USD 1.47 billion in 2024 and reach USD 3.00 billion by 2032, exhibiting a CAGR of 9.36% during the forecast period.

The impact of COVID-19 globally has been unmatched and staggering, with this market witnessing a negative demand amid the pandemic across all regions. 

The outbreak of COVID-19 has affected several industries around the world. Almost every country is reporting infected cases, and significant measures are adopted to curb coronavirus transmission. Petroleum products are extensively used in the transportation sector, and power generation plants are among various industrial applications. According to International energy agency, oil demand is anticipated to fall by a record of 9.3 million barrels per day (mbd) year-on-year in 2020. Boosters are used to raise input air pressure to increase drilling speed and depth. In the oil and gas industry, compressor manufacturers have also experienced a negative impact on their business.

Boosters are also used to optimize air supply in industrial processes that require compressed air, which has also witnessed unprecedented challenges and changes in the wake of the Covid-19 pandemic due to the shut-down of industries worldwide. In addition, the supply chain has also mainly been impacted, as there were national lockdowns. Hence, COVID-19 impact has hampered the consumer behavior oil gas industry, dramatically impacting this market.

Booster Compressor Market Trends

Increasing Focus on Manufacturing & Processing Industries to Boost Market Development

The increasing investments in industries such as oil & gas, chemical, and power generation in the developing economies will fuel the demand for booster compressor. According to the World Investment Report 2018, Asia Pacific received investments worth USD 476 billion of foreign direct investments in 2017, which was primarily focused on China and Singapore. In addition, governments are focusing on improvising industrial policies and regulations to create a conducive environment for exploring new industries and improving sustainability amongst competitors.

Strategic investment policy priorities, entry and establishment of foreign investors, and promotion and facilitation of investment policies are some of the supportive regulations that help increase industrial applications, resulting in the market's growth.

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Booster Compressor Market Growth Factors

Ongoing Advancements in Compressor Technology to Drive the Booster Compressor Market Growth

Traditional compressors use oil for lubrication, which can contaminate the compressed air and require maintenance. Oil-free compression technology eliminates the need for lubricating oil, providing clean, high-quality compressed air suitable for sensitive applications such as food processing, pharmaceuticals, and electronics manufacturing. This innovation improves product quality, reduces maintenance requirements, and enhances the reliability of booster compressors. Modern booster compressors have advanced monitoring and diagnostic systems that continuously assess the compressor's performance, detect anomalies, and predict potential failures. These capabilities help operators optimize compressor efficiency, minimize downtime, and reduce maintenance costs by identifying issues before they escalate. Real-time monitoring also allows for proactive maintenance scheduling, ensuring optimal performance and reliability. 

In July 2023, Sauer Compressors launched a new range of high-pressure compressors for industrial applications. They are ideal for compressing many gases and for many applications. The newly developed magnetic clutch makes the compressors hermetically gas-tight.

Utilization in Gas-fired Power plants to Increase Booster Compressors Demand

Different nations are replacing coal-based power plants with natural gas-fired power plants for power generation. Germany has already passed legislation to end coal-fired power generation by 2038, and many countries in Europe and the rest of the world are investing in natural gas power plants projects. Turbines in gas-fired power plants require a certain pressure of fuel gas to combine the fuel gas and pressurized air before combustion. The demands on compressors at the same time have been growing because gas turbines require fuel gas pressures with higher psi to achieve higher performance efficiency. Also, pipeline pressures fluctuate due to increased peak demand and overall requirements. Hence, the growing awareness of adopting low carbon emission energy sources across the globe propels the market demand for boosters during the forecast period.

RESTRAINING FACTORS

Utilization Of Existing Booster Compressor by Consumers to Hamper Adoption

Industrial manufacturers and consumers rely on servicing and continuing the usage of existing compressors instead of investing in new installations to decrease capital expenditure due to the high cost of new compressors. This factor, along with the emission of methane in the atmosphere from the compressors, leading to environmental issues, is the restraining factor in the booster market during the forecast period.

Booster Compressor Market Segmentation Analysis

By Cooling Type Analysis

Air-Cooled Boosters is Projected to Hold Notable Market Share Owing to Low Cost

Based on the cooling type, the market for booster compressors is segmented into air-cooled and water-cooled. The air-cooled segment is projected to hold the largest market share owing to its cost-effective installation and maintenance. Water-cooled units require less power compared to an air-cooled compressor but demand a constant and adequate water supply. A cooling circuit in air-cooled compressors removes the heat from the compressor by a radiator and fan combination and a shell and tube exchanger in case of water-cooled compressors.

By Compression Stage Analysis

Double Stage Compression Segment to Substantial Market Share Owing to Growing Awareness towards Clean Energy

Based on the Compression Stage, the market is segmented into single-stage, double-stage, and multi-stage. The double-stage segment dominated the global market in terms of share in 2020 based on the compression stage due to the advantages of double-stage boosters, such as being more economical, low compressor displacement, low power consumption, and low discharge temperature. In addition, a rise in demand for double-stage boosters from heavy-duty applications such as screwing, lifting, painting, greasing, and others, in furniture factories, food & beverages packaging industry, military & aerospace construction and others, is anticipated to supplement the market growth during the forecasted period.

By Discharge Pressure Analysis

Based on the discharge pressure, the market is segmented into below 999 PSI, 1000-1499 PSI, 1500-4999 PSI, and above 5000 PSI. The 1000-1499 PSI segment is expected to hold the largest market in the forecasted period due to their wide applications in the oil and gas industry, such as nitrogen purging and displacing inert gases, and removal of impurities in the subsurface pipeline.

By End User Analysis

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The market is segmented into oil & gas, power generation, industrial, and other end-users. The oil & gas segment holds the largest market share among the end-users due to multiple applications in upstream, downstream, and midstream sectors such as refining, drilling activity hydrocarbon blanketing, and others.

The Industrial segment is expected to experience considerable growth owing to the demand for boosters in chemical & petrochemical industry applications to produce polyethylene terephthalate (PET) bottles, PVC, and other drugs. The utilization of boosters in industrial pressure testing and nitrogen leak tests would also likely drive the demand during the analyzed period.

Different countries are replacing coal-fired power plants with natural gas-fired power plants. It is expected for boosters to play a significant role in power generation sectors in the future. The demand for power in the domestic and industrial sector and growing awareness for using clean and low carbon-emitting fuel upticks the market for these compressors during the forecast period.

REGIONAL INSIGHTS

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The market for booster compressor is segmented into region North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In North America, the U.S. & Canada hold significant potential for the oil & gas industry. U.S Energy Information Administration estimates proved reserves of 494.6 trillion cubic feet of natural gas. In the event of depleting coal resources, LNG-based power plants are increasing their market share, and this holds a potential growth opportunity for these compressors, which drives the market growth. The demand for gas is projected to increase in the coming years. This is primarily attributed to growth in the industrial and power sectors, as the US government had planned to add 18 GW of new gas-based power plants by 2020, which is expected to complete by 2022. The U.S. is focused on the manufacturing & processing industry, such as machinery and primary metals production industries, which accounts for 11% of the US economy.

Europe is expected to showcase a significant growth in power demand. The increasing application of high-pressure industrial gases in the steel industry, oil & gas, metal & mining, and manufacturing & processing industries augments the demand for the market across Europe. The average demand for natural gas is projected to grow by 1.5% per year from 2019 to 2025, as per the International Energy Agency (IEA). According to the European Commission (EC) report on the gas market, Europe imported the most significant volume of LNG in 2019 at 108 billion cubic meters (bcm), marking 27% of total gas imports. 22% of Europe's gas consumption is owing to the spot market and no capital expenditure from small players, which has fueled the demand for the market in the region.

As per the world economic forum, Asia Pacific will hold the largest GDP (Gross Domestic Product) owing to rapidly changing consumer behavior, supportive policies to achieve sustainable development, and investment in industrial infrastructure. A significant increase in power demand and the growing awareness of renewable power generation in the countries in South America is also propelling the need for gas-based power plants, driving the demand for the boosters.

The Middle East & Africa is the dominating region involved in the extraction, production and refining of oil & gas products as it holds half of the world's proven conventional reserves of natural gas. Countries in the region, such as Qatar, Saudi Arabia, Oman, and Kuwait, are major oil and natural gas exporters. The growth is primarily attributed to the offshore gas developments in the UAE and Qatar, which require boosters to inject high-pressure nitrogen gas. In July 2019, Kuwait signed an offshore exploration contract worth USD 600 billion with Halliburton to drill six high-pressure, high-temperature (HP/HT) exploration wells.

List of Key Companies in Booster Compressor Market

Major Players such as BOGE UK, Atlas Copco, and KAESER KOMPRESSOREN Expected to Lead the Way With R&D Investments and Wide Customer Reach 

The market is moderately fragmented, with different key players operating at the international level. The competitive landscape of booster compressor shows that the industry participants are significantly focused on the boosters of higher discharge pressure, higher capacity, and higher efficiency with enhanced operational characteristics to fortify their global foothold. Considering all the scenarios, BOGE UK, Atlas Copco, and KAESER KOMPRESSOREN held significant market share in the LPG market globally due to their better-performing products and established supply chain. They are expected to stay the market leaders in the upcoming years.

LIST OF KEY COMPANIES PROFILED:

• BOGE Compressed Air Systems GmbH & Co. KG (Germany)


• Atlas Copco (U.S.)


• KAESER KOMPRESSOREN (Germany)


• Ingersoll Rand (U.S.)


• Gardner Denver (U.S.)


• Air Research Compressors (Australia)


• Nigen International (U.S.)


• BAUER Kompressoren Group (Germany)


• CORKEN - an IDEX Energy business (U.S.)


• Sauer Compressors USA (U.S.)


• SIAD MACCHINE IMPIANTI (Italy)


• TGT Fuel Technologies Pvt Ltd (India)


• GENERON, INC. (U.S.)


• CKG INTERNATIONAL FZE (UAE)


• Hitachi (Japan)


• Özen Kompresör (Turkey)


• Alup Kompressoren (Italy)                    

KEY INDUSTRY DEVELOPMENTS:

• September 2023- Sauer Compressors USA announced plans to expand its operations in North America and accelerate growth in the compressed air and gas industry through acquisitions. The company also announced that it will increase its technology and research capabilities and expand its manufacturing facilities.


• May 2023- ELGi Sauer shared plans to strengthen its presence with a new state-of-the-art manufacturing facility in Coimbatore, India. The 50,000 sq. ft. facility is located in Kallappalayam, Coimbatore, Tamil Nadu. It manufactures high pressure air and gas compressor packages for the marine, industrial, commercial, and offshore markets. It also houses a technical support center for global new product development and prototype testing. This significant milestone is a testament to the company’s commitment to innovation and excellence.


• February 2023- Sauer Compressors developed new gas compressors in close collaboration with partners and customers to ensure they are perfect for the current and future demands of the gas industry. The SAUER Orkan series is suitable for the compression of many gases and for various purposes. The first Standard types of the series are two high-pressure air compressors with a final pressure of up to 350 and 500 barg, respectively, a high-pressure helium compressor with a final pressure of up to 350 barg and high-pressure nitrogen amplifier with final pressure of up to 350 barg and inlet pressure of 4-8 barg.


• April 2021 – Kaeser announced a new CNC line of boosters, which can deliver fluid capacity from 28-281 cfm with pressures up to 650 psig. The fully enclosed and integrated compressors are available in 10-30 horsepower models. The product line expansion also adds the DNC-XL, bringing the company’s advanced booster lineup to nine models with flows ranging from 28-882 cfm. Each package includes a built-in aftercooler for optimized cooling and a sound-dampening enclosure for reduced noise levels and better machine protection.


• January 2021 – SIAD Macchine Impianti (SIAD MI) signed an agreement to design and build boosters for floating production storage and offloading (FPSO) units operating in the offshore area of Foinaven, west of the shetland Islands. The compressor required specialized customization due to the installation conditions.  The company’s engineers had to adapt the compressor design to the FPSO’s tight spaces while ensuring it could reach 5221 psi.

REPORT COVERAGE

The market research report provides a detailed global booster compressor market analysis of the market and focuses on key aspects such as leading companies, products, and upcoming product developments. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth trends of the market over recent years.

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