The Booster Compressor Market is expected to grow from an estimated USD 1.92 billion in 2018 to USD 2.39 billion by 2023, at a CAGR of 4.50% during the forecast period. The booster compressor market is primarily driven by lower cost and increasing industrialization in developing countries. The major strategies adopted by the players include mergers & acquisitions, contracts & agreements, and expansions from January 2014 to February 2018.

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The Middle East & Africa market is projected to be the fastest growing for booster compressors. The countries in this region are primarily oil-dependent economies. The major gas exporting countries in the region are Qatar, Nigeria, and Iran. These countries are expanding their trade with countries such as China and India. To meet the growing demand for natural gas, investments are made in oil & gas in the upstream market. In the midstream market, major pipeline projects are ongoing to supply gas to the developing economies such as India, China, and Brazil. These natural gas pipelines use booster compressors to maintain the gas pressure during the transit. Thus, the growing investment in the oil & gas industry is likely to drive the Booster Compressor Market in the Middle East & Africa.
The availability of alternative products such as standalone high-pressure compressors can act as a restraint for the Booster Compressor Market. The leading players in the booster compressor market include Atlas Copco (Sweden), Ingersoll Rand (Republic of Ireland), Kaeser Kompressoren (Germany), SAUER Compressor (Germany), and BAUER Kompressoren (Germany). Mergers & acquisitions was the most commonly adopted strategy by the top players.
The air-cooled booster compressor market, by cooling type, is the fastest growing. This segment is expected to have the largest market share by 2023. The growth of air-cooled booster compressors is attributed to the technical advancements taking place in booster compressors. The new air booster compressors are available in forced ventilation package. This forced ventilation system helps to reduce the energy loss from the motor, thus improving the efficiency of the compressor. In addition, air booster compressors are comparatively less costly as compared with the water booster compressors.

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The Booster Compressor Market, by end-user, is segmented into oil & gas, process industry, chemical & petrochemical, power generation, and others. The oil & gas industry is expected to dominate the end-user segment of the booster compressor market during the forecast period. The growth of the oil & gas industry is attributed to the increasing investments in drilling & production activities in different regions such as North America and Middle East & Africa. Booster compressors are used in different applications in drilling and production activities such as air separation, hydrocarbon blanketing, and nitrogen generation. Thus, the growing investments in the drilling & production activities are expected to create a market opportunity for booster compressors.