ATLAS COPCO AB, GARDNER DENVER HOLDINGS, INC., INGERSOLL-RAND PLC, HITACHI LTD., AND BAUER COMP HOLDING GmbH - PROMINENT MARKET PARTICIPANTS IN THE BOOSTER COMPRESSOR

The demand of booster compressor is rising from various industries such as chemical, renewable energy production and other emerging applications. The factors contributing towards the growth of booster compressor market include high application of booster compressor in power recovery, natural gas liquification processes. In addition, in non-industrial applications such as power generation, manufacturing, and others are also rising owing to ongoing improvements in the technology resulting in penetration of the equipment in the market. The above-mentioned aspects are responsible to drive the market during the forecast period and have a high impact in the short term.

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Key findings of the study:

Asia Pacific is the fastest-growing region in the booster compressor market. The growth of the booster compressor market in this region is attributed to the high demand for oil and gas owing to the rapidly developing manufacturing industry. The major economies in the region—China, Australia, and India—are investing heavily in the oil & gas industry, primarily to reduce their imports. These countries are also undertaking projects for the development of the hydroelectricity and renewable electricity generation sources. Aforesaid factors supports the high growth of booster compressor in the Asia Pacific region.

The global booster compressor market is anticipated to witness impressive growth during the forecast period, owing to the increasing demands for production efficiency in the oil and gas sector, growth of the manufacturing sector globally and especially in developing regions of the world. During the forecast period of 2019 to 2027, manufacturing industry is expected to drive the demand for booster compressor worldwide. Manufacturing by industry vertical in 2018 led the booster compressor market whereas; oil and gas is expected to be the fastest-growing application during the forecast period 2019-2027 growing at a high CAGR value.

The major players operating in the market for booster compressor market are Atlas Copco AB, Baker Huges (General Electric), BAUER COMP Holding GmbH, Boge Kompressoren, Corken, Inc., Gardner Denver, Inc., Hitachi Ltd., Ingersoll-Rand PLC, Kaeser Kompressoren, and Sauer Compressors USA, Inc., among others.