Southeast Asia Booster Compressor Market Business

Southeast Asia Booster Compressor Market Business

MarkNtel Advisors recently released a research report focusing on the Southeast Asia Booster Compressor Market for the forecast period of 2023-28. This approach enhances user understanding and supports well-informed decision-making. The report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges using qualitative and quantitative data. To familiarize established businesses and newcomers with the present market scenario, the report offers detailed growth prospects for the industry and concise insights into competitors.

Southeast Asia Booster Compressor Market Insight and Analysis:

The Southeast Asia Booster Compressor Market is estimated to grow at a CAGR of around 5.63% during the forecast period, i.e., 2023-28.

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Southeast Asia Booster Compressor Industry Segmentation:

By Cooling Type

-Air Cooled- Market Size & Forecast (2018-2028) in USD Million

-Water Cooled- Market Size & Forecast (2018-2028) in USD Million

By Compression Stage

-Single Stage- Market Size & Forecast (2018-2028) in USD Million

-Double Stage- Market Size & Forecast (2018-2028) in USD Million

-Multi Stage- Market Size & Forecast (2018-2028) in USD Million

By Pressure

-Upto 14 bar- Market Size & Forecast (2018-2028) in USD Million

-14-40 bar- Market Size & Forecast (2018-2028) in USD Million

-41-100 bar- Market Size & Forecast (2018-2028) in USD Million

-101-350 bar- Market Size & Forecast (2018-2028) in USD Million

-Above 350 bar- Market Size & Forecast (2018-2028) in USD Million

By End Users

-Mining- Market Size & Forecast (2018-2028) in USD Million

-Oil & Gas- Market Size & Forecast (2018-2028) in USD Million

-Automotive- Market Size & Forecast (2018-2028) in USD Million

-Chemical- Market Size & Forecast (2018-2028) in USD Million

-Power Generation- Market Size & Forecast (2018-2028) in USD Million

-Process Industries (Food & Beverage, Pharmaceutical, etc.)

-Others (Defence, Shipping, etc.) – Market Size & Forecast (2018-2028) in USD Million

Southeast Asia Booster Compressor Market (2023-28): Segmentation Analysis

The Southeast Asia Booster Compressor Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–28. Based on the analysis, the market has been further classified as:

Based on Cooling Type:

  • Air Cooled
  • Water Cooled

Of both, water-cooled boosters are witnessing high demand and significantly contributing to the growth of the Southeast Asia Booster Compressor Market, driven by their capability to operate at higher pressures & temperatures, which makes them suitable for larger applications that require high-pressure gas in industries like the oil & gas, power generation, etc. Growing investments in oil & gas, mining, power generation, and other industries, which involve the application of high pressure, has pushed the market growth for water cooled compressors. In addition, the excellent efficiency of these compressors in high-temperature environments is also increasing their adoption across the region and, subsequently, fueling the overall market growth.

Based on Compression Stage:

  • Single Stage
  • Double Stage
  • Multi Stage

Here, multi-stage booster compressors are witnessing substantially growing demand in Southeast Asia, as they are prominently used for compressing gas in natural gas pipelines, oil refineries, & chemical plants. The high importance of compressing gas to ensure optimal performance of operations with safety facilitates the deployment of these booster compressors, further supporting the market. In addition, advantages like higher efficiency, higher pressure ratios, lower maintenance requirements, use of intercoolers & after coolers, and greater flexibility are also amplifying their demand in Southeast Asia and, consequently, benefitting the market growth.

Southeast Asia Booster Compressor Market (2023-28): Regional Analysis

Geographically, the Southeast Asia Market expands across:

  • Singapore
  • Indonesia
  • Malaysia
  • Thailand
  • Philippines

Of all countries in Southeast Asia, Malaysia is expected to hold the major share of the Booster Compressor Market during 2023-28. It owes to increasing investments in the country’s oil & gas sector, i.e., leading to new upstream explorers. In 2023, Petronas launched the Malaysia Bid Round (2023), offering 10 exploration blocks and two clusters of Discovered Resource Opportunities (DRO), which would result in more oil & gas exploration activities in the country.

Furthermore, Malaysia is heavily investing in infrastructure development, including transportation systems, power plants, and industrial complexes. The government has set an infrastructure development budget of around USD 20.43 billion for 2023, under which approximately 7,615 development projects are planned, which represents an increase of nearly 25.7% from 2022. As a result, upcoming oil & gas explorations and infrastructure development projects are set to escalate the demand for booster compressors in Malaysia and, in turn, propel the overall market growth.

 Geographical overview:

-Singapore

-Indonesia

-Malaysia

-Thailand

-Philippines

-Rest of South East Asia.

The Southeast Asia Booster Compressor Market Trend:

Surging Adoption of Renewable Energy Resources – The increasing adoption of renewable energy resources such as hydrogen, offshore wind farm, air compression for energy storage, etc., are escalating the growth of booster compress in the region. The adoption of renewable technologies is owing to the rising environmental concern and governmental policies, to lower carbon emissions and mitigate climate change. Countries like Indonesia, Singapore, Vietnam, etc., and to are implementing several schemes and policies to promote the adoption of renewable energy resources. For instance, in 2022, the Japanese Industry Minister and Indonesian Energy Minister signed a memorandum of cooperation (MoC) at a bilateral meeting held in Jakarta on 10/01/2022.

The MoC is aimed at collaborating in the development & deployment of decarbonization technologies such as hydrogen, ammonia, and carbon capture utilization and storage (CCUS).  These initiatives would lead to the mounted deployment of renewable energy resources in the region. As these sources expand, the demand for booster compressors in various renewable energy applications increases in the coming years. Booster compressors enable efficient energy storage, hydrogen production, offshore wind farm operations, and gas pipeline compression, supporting the smooth integration and utilization of renewable energy within the energy landscape.

Top Leading key players of Southeast Asia Booster Compressor Market

A thorough examination of the competitive landscape of the market involves a comprehensive analysis of its key competitors. This analysis delves deep into each company’s profile, financial achievements, market presence, potential, Research and Development (R&D) expenditures, recent strategic initiatives in the market, footprint, strengths, weaknesses, and market dominance. The information provided offers a comprehensive overview of the leading market players, including 

-Atlas Copco

-Bauer Kompresoren

-Kaeser Kompresoren

-Ingersoll Rand PLC

-Saucer Compressor

-Gardner Denver Nash

-Boge Kompresoren

-Haskel

-Generon.

The Southeast Asia Booster Compressor Market report addresses the following concern:

  1. The Southeast Asia Booster Compressor Market report explores the influence of key trends on market share within the primary segments.
  2. What are the leading market trends that propel the expansion of the Southeast Asia Booster Compressor market?
  3. What are the projected CAGR, market size, and growth rate for the Southeast Asia Booster Compressor Market in the upcoming years?
  4. What are the key players in the Southeast Asia Booster Compressor market, and what strategies are they implementing?
  5. What factors, such as industry trends, drivers, and challenges, are contributing to the growth of the Southeast Asia Booster Compressor market?

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