Harrisburg, NC -- (SBWire) -- 10/23/2020 --The power generation from natural gas has grown at a CAGR of 4%, which is expected to continue in the forecast period of 2020 - 2025. Power generation is one of the major applications of booster compressors and is expected to drive the market in the coming years. The growing power demand and developing industries in different countries are expected to drive market growth. Natural gas-fired power plants are growing significantly, which requires gas at high pressure using booster compressors. On the other hand, the oil and gas industry, which is a significant end-user of booster compressor, has shown a slow growth due to the COVID-19 pandemic in 2020, which can restrain the growth of the booster compressor considerably.
- In the end-user, the oil and gas industry is the primary applicant for the booster compressor. The growing demand for compressor stations for gas transmission is expected to drive the market in the future.
- Different nations are replacing coal-based power plants to natural gas-based, which is expected to create significant opportunities for booster compressors for both in transportation and power generation sectors in the future.
- Asia-Pacific is anticipated to dominate the market in the forecast period. The growth in the chemical, oil and gas refining and processing industries in countries like China, India, Japan, and Taiwan are expected to create a significant demand for the booster compressor during the forecast period.
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Top leading Manufactures Profiled in Booster Compressor Market Report are:
General Electric Company, Atlas Copco Ltd, BAUER COMP Holding GmbH,, Hitachi, Ltd.,, Ingersoll-Rand plc,, Gardner Denver, Inc, Kaeser Compressors Inc, Bauer Compressors Inc, Boge Compressors Ltd
Booster Compressor Market Scenario:
Oil and Gas Sector to Dominate the Market
- A booster compressor enables you to step up the pressure of the primary feed air compressor. These are used where high pressure and power are required, and existing compressors are unable to develop the required pressure.
- Gas pipeline projects like The Baltic Pipe project between Denmark and Poland in the Baltic sea are expected to create a significant need for booster compressors for proper transportation of natural gas.
- The natural gas production globally is increasing considerably, reaching 3868 billion cubic meters in 2018. The transportation of the increasing gas production requires booster compressors to transfer quickly in compressed form.
- Booster compressors are used in different applications in the oil & gas industry, such as hydrocarbon blanketing, nitrogen compression, and at compression station. Multiple applications in the industry are creating considerable demand in the future.
- The increasing midstream market especially developing city gas distribution projects, is expected to drive the demand of booster compressors in the oil and gas industry.
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Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to dominate the market for booster compressor. With industrial growth in countries like China, India, Japan, and Taiwan, significant demand for booster compressors is expected in the forecast period.
- In 2019, Mitsubishi Hitachi Power Systems, Ltd. completed the installation of the natural gas-fired gas turbine combined cycle facilities for the Jawa-2 Project in Indonesia with a generation capacity of 880 MW. Natural gas-fired power plants are expected to drive the booster compressor market considerably.
- In 2018, GAIL was executing 5000 km of trunk pipelines across India at the cost of INR 25,000 crores. The robust midstream growth is anticipated to create a favorable market for booster compressors in the coming period.
- In 2018, Asia-Pacific generated 1458 TWh of electricity from natural gas plants, which is a significant applicant of booster compressors.
- Asia-Pacific is showing positive growth in projects related to power generation using natural gas and in the midstream sector also, which will be driving the region to dominate in the booster compressor market.
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The key insights of the Booster Compressor Market report:
?The report provides key statistics on the market status of the Booster Compressor market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
?The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
?The Booster Compressor market report presents the company profile, product specifications, capacity, production value, and 2014-2020 market shares for key vendors.
?The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
?The report estimates 2020-2026 market development trends of Booster Compressor Market.
?Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
?The report makes some important proposals for a new project of Booster Compressor Industry before evaluating its feasibility.
In conclusion, Booster Compressor market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function a profitable guide for all the Booster Compressor Industry business competitors. Our expert research analyst's team has been trained to provide in-depth market research report from every individual sector which will be helpful to understand the industry data in the most precise way.
How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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Booster Compressor Market Outlook, Growing Demand and Rising Trends 2020 to 2025 : General Electric Company, Atlas Copco Ltd, BAUER COMP Holding GmbH,, Hitachi
Booster Compressor Market (Impact of COVID-19) Size, Status and Forecast 2020-2026