PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550709
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550709
The Global Booster Compressor Market is estimated to be valued at US$ 3.74 Bn in 2024 and is expected to reach US$ 5.13 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 3.74 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 4.60% | 2031 Value Projection: | US$ 5.13 Bn |
The global booster compressor market has been witnessing significant growth in the recent times, driven by factors such as rising oil and gas exploration activities and growing demand from the transportation sector. Booster compressors help increase the pressure of pipelines to efficiently transport gases over long distances. They play a crucial role in facilitating transportation of gases from production fields to processing plants and refineries. Moreover, with growing focus on developing long-distance pipelines for inter-state and cross-country transportation of natural gas, the demand for booster compressors is expected to rise substantially in the coming years. However, high initial investment requirement for setting up booster compressor stations remains a key challenge for wider adoption.
Key drivers such as increasing exploration of unconventional oil & gas reserves and expansion of natural gas distribution networks across regions are fueling the booster compressor market growth. However, high operational and maintenance costs associated with booster compressors pose a challenge. Advancements in compressor technologies presenting new opportunities through enhanced efficiency and automation.
This report provides an in-depth analysis of the global booster compressor market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global booster compressor market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Atlas Copco, Bauer Kompressoren, BOGE Kompressoren, Hitachi, Ingersoll Rand, Kaeser Kompressoren, Kaishan, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries, Quincy Compressor, SAUER Compressors, Sullair, Sundyne, Tamrotor Marine Compressors, and Yong Steel
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global booster compressor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global booster compressor market.