According MarketsandMarkets’ research report "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", the booster compressor market is expected to grow from an $1.92 Billion in 2018 to $2.39 Billion by 2023, at a CAGR of 4.50%. This market is primarily driven by the growing investments in oil & gas exploration and increasing industrialization in developing economies. In addition, modular designs and lower cost of booster compressors will drive the demand further.
The oil & gas segment is expected to hold the largest share of the Booster Compressor Market, by end-user, during the forecast period
Air-cooled segment is expected to be the fastest growing cooling type market
Asia Pacific: The leading market for booster compressors
Major market players include Atlas Copco (Sweden), Ingersoll Rand (Republic of Ireland), Kaeser Kompressoren (Germany), SAUER Compressor (Germany) and BAUER Kompressoren (Germany).
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