December 04, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Booster Compressor Market to 2027 - Global Analysis and Forecasts by Pressure (14-40 Bar, 41-100 Bar, 101-350 Bar, and >350 Bar); Type of Cooling (Water and Air); Compression Stage (Single, Double, and Multi); Industry Vertical (Manufacturing, Chemicals, Oil and Gas, Energy & Power, and Others)’, the worldwide booster compressor market is expected to accumulate US $3.48 billion by the year 2027.
Booster compressors enable stepping up of the pressure levels in the extraction processes which helps in reducing the time and cost of production. Commonly, booster compressors are designed to improve the efficiency of a system and have a wide range of applications across various end-use industries, which is propelling the booster compressor market expansion.
Constant focus on energy efficiency by adopting energy recovery solutions, increasing awareness towards reducing CO2 emissions, coupled with high demand for monitoring and service of compressed air installations are the major trends that drive the market growth over the forecast timeframe. Furthermore, increasing investments in machinery and automation, energy cost, and industrial production would further support booster compressor market growth.
The report cites that booster compressor market was worth US $2.29 billion in 2018 and is expected to grow with a CAGR of 4.9% during the period of 2019-2027. It analyzes the market on the basis of cooling type, pressure rating, compression stage, industry vertical, and regional landscape.
Based on cooling type, booster compressor market is segmented as air and water, whereas, based on pressure rating, the market is categorized as 14-40 bar, 41-100 bar, 101-350 bar, and more than 350 bar. While considering the compression stage, the industry is fragmented as single, double, and multi-stage units. Speaking of the industry vertical, the market is bifurcated into chemicals, manufacturing, energy & power, oil & gas, and others.
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In terms of regional landscape, Asia Pacific dominated the global booster compressor market in 2018 and is presumed to maintain this trend over the forecast period. Moreover, North America held more that 25% of market share in the same years.
The prominent companies of booster compressor market profiled in the report are Baker Hughes, Atlas Copco AB, BOGE Kompressoren Otto Boge GmbH & Co KG, BAUER COMP Holding GmbH, Ingersoll-Rand PLC, Corken, Inc., Hitachi Ltd., Gardner Denver Holdings, Inc., Sauer Compressors USA, Inc., and KAESER KOMPRESSOREN SE.
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