Booster Compressor Market Segmentation by Psychographics: Targeting Customers Based on Lifestyle and Preferences

The global booster compressor market size reached US$ 2.9 billion in 2021 and is projected to grow to US$ 4.9 billion by 2030, with a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2022 to 2030.

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Several factors are influencing the growth of the global booster compressor market. The rising demand for petroleum products is a key driver, as booster compressors play a vital role in the production, processing, and transportation of petroleum. Additionally, the increasing demand for air-filled products and the use of booster compressors in industrial testing applications contribute to market growth. However, the booster compressor market may face limitations due to the declining number of fuel stations resulting from the growth of the electric vehicle industry.

The demand for plastic or PVC products from developing economies is expected to fuel the growth of the booster compressor market. These materials require compressed air during the manufacturing process. The market is also driven by the applications of booster compressors in air-filled products such as deodorants, portable-sized cylinders, and sporting goods like basketballs and buoyancy compensators. The fashion industry's use of hair sprays and other beauty products further propels market growth.

In terms of regional analysis, Europe is anticipated to be the largest market for booster compressors. The region has a significant demand for deodorants, hair sprays, and other air-filled products, supporting market growth. Europe also has a robust automotive and manufacturing industry, as well as government initiatives focused on aerospace and marine development, further contributing to market expansion. Industries like construction and industrial testing are experiencing substantial growth in the region, positively impacting the booster compressor market.

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The COVID-19 pandemic had a negative impact on the booster compressor market as end-use industries, including automotive, manufacturing, oil and gas, and construction, experienced revenue decline due to lockdown restrictions and disrupted supply chains. However, as restrictions are being lifted and activities resume, the market is expected to regain momentum.

Key competitors in the booster compressor market include Atlas Copco AB, Hitachi Ltd., Ingersoll Rand, Jereh Group, Sauer Compressors USA, Corken Inc., Generon, Kaeser Kompressoren, NiGen International L.L.C., TGT Fuel Technologies, Boge Compressors Ltd, Hanbell, Haskel, Gas Compression Systems, and other prominent players.

The market segmentation of the global booster compressor market is based on cooling type, compression stage, power source, end-use, and region. Cooling types include air and water, while compression stages comprise single-stage, double-stage, and multi-stage compressors. Power sources are categorized as electric or combustion engine. The end-use applications of booster compressors include manufacturing, industrial testing, oil & gas, construction, and others.

The regional segmentation covers North America (including the U.S., Canada, and Mexico), Europe (including Western Europe and Eastern Europe), Asia Pacific (including China, India, Japan, Australia & New Zealand, ASEAN countries, and rest of Asia Pacific), the Middle East & Africa (including the UAE, Saudi Arabia, South Africa, and rest of MEA), and South America (including Brazil, Argentina, and rest of South America).

Overall, the global booster compressor market is expected to grow steadily due to the increasing demand for petroleum products, air-filled products, and plastic manufacturing. Europe is projected to dominate the market, driven by its robust industrial sectors and demand for air-filled products. While the COVID-19 pandemic posed challenges, the market is expected to recover as economic activities resume.

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