BOOSTER COMPRESSOR MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Increasing uptake in petrochemical sector

Another key end-use industry augmenting the booster compressor market growth is petrochemicals. Petrochemical sector constitutes an integral part of the global energy and manufacturing industry which uses oil and gas as primary feedstock to produce important chemicals, plastics and synthetic materials. Rapid industrialization and surging consumption of petrochemical-based products across the world has been propelling capacity additions in petrochemical plants. Since these facilities depend on processed hydrocarbons as raw materials, deployment of booster compressors is important at various stages right from gas processing terminals to complex manufacturing sites for operations like steam cracking, distillation and polymerization.

Rising petrochemical trade flows owing to globalization is also elevating the relevance of boosting compressors in LNG terminals and import-export pipelines. The market is further gaining traction from capacity ramp-ups in emerging petrochemical hubs to meet the soaring demand from construction, automotive and packaging sectors in developing economies.