Canada Booster Compressor Market to be dominated by Combustion Engine Power Source through 2027
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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