Shale gas processing equipment market to grow at a Double Digit CAGR during Forecast Period
Conventional natural gas
sources decline and advancements in horizontal drilling is expected to drive global
shale gas processing equipment market through 2026
According to TechSci Research report, “Global Shale
Gas Processing Equipment Market By Component (Electrical Machinery,
Internal Combustion Engines, Compressors & Pumps, Measuring &
Controlling Devices, Heat Exchangers and Others), By Process (Distillation,
Pyrolysis, Reheating, Cracking, and Chemical Treatment), By Company, By Region,
Forecast & Opportunities, 2026”, is
expected to grow at a steady rate during the forecast period owing to the surge
in demand for exploitation of shale gas reserves and increase in demand for
consumption of natural gas across the globe. These factors have significantly
contributed to the global shale gas processing equipment market. Shale gas has
high calorific value and lower emission of carbon than the conventional fuels
which is propelling the demand for global shale gas processing equipment market
worldwide. Abundance of unexplored shale gas reserves is propelling the
government as well as end-user industries to invest huge amounts for
exploration process. Upcoming pipeline projects used for transportation of
shale gas is fostering the growth of the global shale gas processing equipment
market. Increase in penetration of the small and mid-scale processing equipment
manufacturers over large scale equipment manufacturers is the most recent trend
observed in the global shale gas processing equipment market.
However, hydraulic fracturing can lead to
environmental hazards due to consumption of huge amount of water in the process
which may create hindrance to the global shale gas processing equipment market
growth.
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Global shale gas processing equipment
market is segmented based on component, process, region, and company. Based on
component, market is divided into electrical machinery, internal combustion
engines, compressors & pumps, measuring & controlling devices, heat
exchangers and other related components. Compressors and pumps are leading the
global market in 2020 and is anticipated to maintain its dominance till 2026. Demand
for compressors is on surge in United States. Gas processing capacity has
increased over the recent years thereby surging the demand for the global shale
gas processing equipment market. Based on process, global shale gas processing
equipment market is categorised into distillation, pyrolysis, reheating,
cracking, and chemical treatment. Distillation is used for separation of
nitrogen gas from the shale gas. Pyrolysis is the process of heating of shale
gas in the absence of oxygen to get residual products. Reheating is the process
to use inputs more efficiently. Cracking
is process of breaking of larger hydrocarbon into smaller molecules.
Linde
Engineering, Johnson Controls International plc, Cameron International
Corporation, Exterran Corporation, Pall Corporation, Honeywell UOP, GasTech
Engineering Corporation, Newpoint Gas LP, Van Gas System, Membrane Technology
and Research Inc. are the leading players operating in the global shale gas
processing equipment market. Shale gas processing equipment manufacturers are
increasingly focusing on developing and manufacturing high-tech products. To
meet evolving customer demand with respect to better efficiency and durability,
several shale gas processing equipment manufacturers are coming up with their
technologically advanced offerings.
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“Demand
for cleaner fuel and lower carbon emissions is on rise. Shale gas reserves
provide on alternative to possess lower carbon footprint and contains high
calorific value. Increase in demand for natural gas consumption and to reduce
the burden on conventional fuels is anticipated to fuel the global shale gas
processing equipment market. Also, advancements in technologies is further
expected to fuel the market till 2026,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Shale Gas
Processing Equipment Market By Component (Electrical Machinery, Internal
Combustion Engines, Compressors & Pumps, Measuring & Controlling
Devices, Heat Exchangers and Others), By Process (Distillation, Pyrolysis,
Reheating, Cracking, and Chemical Treatment), By Company, By Region, Forecast
& Opportunities, 2026” has evaluated
the future growth potential of global shale gas processing equipment market and
provided statistics & information on market size, shares, 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 the global shale gas
processing equipment market.
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