The global booster compressor market is projected to reach a market size of USD 2.39 Billion by 2023, at a CAGR of 4.50% during the forecast period. The market in Asia Pacific is estimated to be the largest for booster compressors, followed by North America in 2018. Booster compressors are available in modular design, due to which they are compatible with any low-pressure compressor. In addition, booster compressors are more cost-effective than high-pressure compressors because the power capacity required by booster compressors for high-pressure compression is less. Thus, due to the modular design and cost-effectiveness, booster compressors are used in various industries.
The booster compressor market is dominated by a few major players that have a wide regional presence and are established brand names. The leading players in the booster compressor market are Atlas Copco (Sweden), Ingersoll Rand (Republic of Ireland), BHGE (US), Hitachi (Japan), Gardner Denver (US), Kaeser Kompressoren (Germany), Bauer Kompressoren (Germany), and Sauer Compressor (Germany).
Mergers & acquisitions, contracts & agreements, and expansions were the most commonly adopted strategies from January 2014 to February 2018.
Atlas Copco is one of the key players in the booster compressor market. The company operates its business through 5 segments, namely, compressor technique, vacuum technique, industrial technique, mining and rock excavation technique, and power technique. The company provides air equipment, vacuum solution, mining equipment, generators, electric and pneumatic tools, and hybrid joining technologies. The company offers booster compressors in the compressor technique division. The company offers booster compressors for applications such as mineral exploration, blasthole drilling, nitrogen generation, pipeline servicing, and oil & gas drilling. In 2018, Atlas Copco received a contract from Astoria Energy to supply fuel gas booster compressors, which are expected to help in delivering optimal pressure of natural gas for efficient combustion in power plants.
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Ingersoll Rand is a diversified company that provides products, services, and solutions to increase industrial productivity and energy efficiency. The company operates its business through 2 business segments, namely, climate and industrial. Booster compressors are provided under the compressed air system segment, which fall under the industrial division of the company. The company has adopted inorganic growth strategy to increase its geographic reach and expand its product portfolio. As a part of this, in January 2015, the company acquired Cameron International’s centrifugal compressor business. The acquisition is likely to strengthen the company’s presence in the industrial air compressor business.
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
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