DUBLIN, Feb. 27, 2023 /PRNewswire/ — The “Canada Booster Compressor Market By Cooling Type (Air, Water), By Stage (Single, Double, Multi), By Power Source, By Pressure Rating (14-40 bar, 41-100 bar, 101-350 bar, >350 bar), By End Use Industry, By Region, Competition Forecast & Opportunities, 2027” report has been added to ResearchAndMarkets.com’s offering.
The Canada booster compressor market is expected to witness a growth of steady CAGR in the forecast period, 2023-2027
Increased spending on the oil & gas industry, ongoing technological advancements, and the rapid development of natural gas infrastructure are the primary factors driving the market growth.
Also, the rise in production and sales of electric vehicles and the growing investment in clean energy is expected to propel the growth of the Canada booster compressor market in the forecast period.
Expansion of the Natural Gas Network Drives the Market Growth
The growing awareness about the benefits of using natural gas over other conventional sources of energy is expected to fuel the demand for natural gas all over the country. Government authorities are launching projects to accelerate the exploration of natural gas, and the rapid completion of these projects is bolstering the demand for booster compressors throughout the forecast period.
Leading authorities have proposed eighteen LNG export projects in Canada that comprise projects in varying locations, including 13 in British Columbia, 2 in Quebec, and 3 in Nova Scotia, with a total estimated export capacity of 216 million tons per annum (mtpa) of LNG.
The Canadian Association of Petroleum Producers (CAPP) is forecasting a 22 percent increase in natural gas and oil investment in 2022. The rise in energy requirements and ongoing developments are expected to propel the demand for the Canada booster compressor market through the forecast period.
Growing Demand for Electric Vehicle Boosts High Market Demand
According to the government of Canada, transportation is responsible for approximately 25% of greenhouse gas emissions which are majorly released from passenger cars and light trucks. The rise in environmental concerns and the need to lower the greenhouse gases in the environment is accelerating the need to adopt zero-emission vehicles.
The launch of the plan, “A Healthy Environment and A Healthy Economy,” which aims to build a cleaner and stronger transportation system, is a positive factor for the market growth. The government has set targets for all new light-duty cars and passenger trucks to become zero-emission vehicles by 2035 and is promoting the manufacturing of electric batteries in the country.
Compressed air and gas are required to optimize the production of electric batteries. The growing sales of electric vehicles are expected to create lucrative opportunities for the Canada booster compressor market in the forecast period.
Surging Manufacturing and Processing Industry to Support the Market Growth
The rise in investments in the oil & gas industry, power, and chemical industry is projected to propel the growth of booster compressors across the country.
Government authorities are introducing policies and regulations to relax the new entry players’ procedures and create an environment to boost productivity across different industry verticals. Entry of foreign market players and promotion of investment policies by leading authorities and market players are expected to bolster the development of other industries.
The growing manufacturing industry and the need to use compressor gas & oil in these industries are expected to propel the growth of the Canada booster compressor market for the forecast period.
A selection of companies mentioned in this report includes
Atlas Copco
Kaeser Compressors Inc.
Boge Kompressoren Otto Boge GmbH & Co.
Sauer Compressors
Bauer Kompressoren
Hitachi Ltd.
Ingersoll Rand
Gardner Denver
Baker Hughes Company
Idex Corporation
Maximator Gmbh
Haskel
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Canada Booster Compressor Market
4. Executive Summary
5. Voice of Customers
5.1. Brand Awareness
5.2. Factors Considered while Selecting Supplier
5.3. Key Satisfaction Level
5.4. Major Challenges Faced
6. Canada Booster Compressor Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Cooling Type (Air, Water)
6.2.2. By Stage (Single, Double, Multi)
6.2.3. By Power Source (Electric & Combustion Engine)
6.2.4. By Pressure Rating (14-40 bar, 41-100 bar, 101-350 bar, >350 bar)
6.2.5. By End Use Industry (Oil & Gas, Manufacturing, Chemicals, Power, Others)
6.2.6. By Region
6.2.7. By Company (2021)
6.3. Product Market Map
7. Canada Air Booster Compressor Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Stage
7.2.2. By Power Source
7.2.3. By Pressure Rating
7.2.4. By End Use Industry
7.2.5. By Region
8. Canada Water Booster Compressor Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Stage
8.2.2. By Power Source
8.2.3. By Pressure Rating
8.2.4. By End Use Industry
8.2.5. By Region
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Market Trends & Developments
11. Policy & Regulator Landscape
12. Canada Economic Profile
13. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/t3zikk-booster?w=5
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