Growing adoption of advanced technologies by oil & gas industry and stringent government regulations towards environmental pollution are driving the growth of Canada booster compressor market in the forecast period, 2023-2027.
According to TechSci Research report, “Canada Booster Compressor Market By Cooling Type (Air, Water), By Stage (Single, Double, Multi), By Power Source (Electric & Combustion Engine), By Pressure Rating (14-40 bar, 41-100 bar, 101-350 bar, >350 bar), By End Use Industry (Oil & Gas, Manufacturing, Chemicals, Power, Others), By Region, Competition Forecast & Opportunities, 2027”, the Canada booster compressor market is anticipated to grow at a rate of steady CAGR for the forecast period, 2023-2027. Increasing demand for high-pressure from various end-user industries, including construction, oil & gas, packaging, food & beverage packaging, and growing power generation requirements are the primary factors driving the growth of the Canada booster compressor market through the next five years.
A booster compressor is a device used to increase the pressure of the existing compressor approximately over three to five times than the normal pressure. It is used to optimize high-pressure tires, engine starter systems, PET bottle production, and produce torque in small air tools.
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The Canada booster compressor market is segmented into cooling type, stage, power source, pressure rating, end use industry, company, and regional distribution.
Based on cooling type, the market is divided into air and water. Air cooled segment is expected to witness the fastest incremental growth in the forecast period, 2023-2027. They are more affordable than investing in water cooled compressor. An air-cooled booster compressor is used as a multi-stage compressor that can be used for different applications. It is used as a gas compressor for the compression of methane from pipelines and as a nitrogen compressor of inert gases from storage bundles or generators.
Based on stage, the market is divided into single, double, and multi. Double stage dominated the market in 2021 and is expected to capture the largest market share through the next five years. An increase in demand for double-stage booster compressors for different heavy-duty applications in the aerospace and military sector, food & beverage industry, and furniture factories for lifting, painting, greasing, painting, and others are expected to contribute to the market growth in the forecast period. Also, they offer several advantages over their counterparts, including low power consumption and compressor displacement, and are affordable, which fuels the high market demand.
Based on the power source, the market is bifurcated into electric & combustion engine. The combustion engine is expected to account for significant market share in the forecast period. Rise in the oil & gas exploration activities and the growing power requirements in the country are expected to influence the demand of combustion engines for the next five years.
Based on end use industry, the market is divided into oil & gas, manufacturing, chemicals, power, and others. The oil & gas industry is leading the market in 2021 and is expected to maintain its dominance throughout the forecast period. The oil & gas industry is growing at a rapid rate due to surging energy requirements from industries and for personal usage. Booster compressor is used for different applications such as nitrogen generation, drilling activity, compression station, and hydrogen blanketing. Booster compressors are used at compressor stations to maintain the gas pressure during distribution. The surge in demand for natural gas owing to they produce less pollution and can be easily transported to different locations. The rise in efforts to set up power plants and the increasing investments by government authorities in developing countries are expected to boost the Canada booster compressor market growth for the next five years.
Major market players operating in the Canada booster compressor market are:
- Atlas Copco
- Kaeser Kompressoren
- Boge Kompressoren
- SAUER Compressor
- BAUER Kompressoren
- Hitachi
- Ingersoll Rand
- Gardner Denver
- BHGE
- Idex Corporation
- Maximator
- Haskel
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“The growing demand for energy generation and the increasing complexity to explore through unconventional oil reserves such as shale gas and tight sand is bolstering the need for the advent of advanced technologies. Procedures like hydraulic fracturing or fracking are required To fuel the well productivity. Booster compressor is in high demand across the oil & gas industry as it produces pressurized gas, which could be further utilized to fuel the lowering production. Market players are launching novel booster compressors varying from each other in power rating and increasing investments in R&D activities to find innovative solutions, which is expected to propel the demand for the Canada booster compressor market through 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Canada Booster Compressor Market By Cooling Type (Air, Water), By Stage (Single, Double, Multi), By Power Source (Electric & Combustion Engine), By Pressure Rating (14-40 bar, 41-100 bar, 101-350 bar, >350 bar), By End Use Industry (Oil & Gas, Manufacturing, Chemicals, Power, Others), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Canada booster compressor market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Canada booster compressor market.
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