(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "Booster Compressors - Global Strategic Business Report" report has been added to ResearchAndMarkets's offering.
Global Booster Compressors Market to Reach $5 Billion by 2030
The global market for Booster Compressors estimated at US$3.4 Billion in the year 2023, is projected to reach a revised size of US$5 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2023-2030. The global economic update sets the stage for the indispensability of high-pressure compressed air in industries, positioning booster compressors as a cornerstone of growth. Booster compressors, introduced here, play a pivotal role in various applications, with key factors influencing their selection outlined.
In the global market outlook, the oil and gas industry emerges as the largest end-use sector for booster compressors, with developing regions expected to drive significant growth. Competition in the booster compressor market is reflected through the global key competitors' percentage market share in 2023, alongside an assessment of competitive market presence ranging from strong and active to niche or trivial for players worldwide.
Recent market activity underscores ongoing developments and strategies among industry players, highlighting the dynamic nature of the booster compressor market and the efforts to capitalize on emerging opportunities.
Air Compressors, one of the segments analyzed in the report, is projected to record 5.1% CAGR and reach US$3.4 Billion by the end of the analysis period. Growth in the Water Compressors segment is estimated at 4.3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $963 Million, While China is Forecast to Grow at 6.6% CAGR
The Booster Compressors market in the U.S. is estimated at US$963 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$926 Million by the year 2030 trailing a CAGR of 6.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 4.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 510 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $3.4 Billion |
| Forecasted Market Value (USD) by 2030 | $5 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
MARKET OVERVIEW
Global Economic Update Indispensability of High-Pressure Compressed Air in Industries: The Cornerstone of Growth for Booster Compressors An Introduction to Booster Compressors Key Factors Considered in Selection of Booster Compressor Major Applications of Booster Compressors Booster Vs Compressor Global Market Outlook Oil & Gas Industry Emerges as the Largest End-Use Sector Developing Regions Poised for High Growth Competition Booster Compressors - Global Key Competitors Percentage Market Share in 2023 Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E) Recent Market Activity
MARKET TRENDS & DRIVERS
Myriad Benefits of Booster Compressors Fuels Demand from End-Use Sectors Rising Demand for High Pressure Operating Conditions in Varied End-Uses Spurs Market Growth Ubiquity of Compressed Air Usage in Industries Worldwide (in GWh/Year) Rising Use of Oil & Gas Products & Increase in E&P Activities to Drive Market Gains Global Liquid Fuels Production (In Million Barrels Per Day): 2018-2024 Global Natural Gas Production (In Billion Cubic Meter (BCM)) for Years 2018 Through 2022 Booster Compressors Find Increased Use in Enhanced Oil Recovery Techniques Wellhead Compressors Hold Importance in Oil and Gas Field Production Optimization Transition from Coal to Gas Power Generation: Opportunity for Growth Global Energy Production by Source: Breakdown of Electricity (Billion Kilowatt Hours) by Source for 2030 & 2040 The Role of Booster Compressors in PET Bottle Manufacturing Significance of Compressed Air in Pharma and Packaging Sectors Drives Demand for Booster Compressor Optimizing Compressor Performance with Monitoring & Control Digital Transformation in Compressors Major Market Restraints
FOCUS ON SELECT PLAYERS (Total 64 Featured)
Corken Atlas Copco AB Bauer Compressors Inc. Boge Compressors Ltd Gardner Denver General Electric Company Generon Hitachi Ltd Ingersoll Rand Jereh Group Kaeser Compressors Inc. Sauer Compressors USA Inc TGT Fuel Technologies Pvt. Ltd
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Booster Compressors Market
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