Shale Gas Processing Equipment Market Size, Trends, and Analysis - Forecasts to 2026 By Component (Compressors & Pumps Market, Electrical Machinery Market, Heat Exchangers Market, Internal Combustion Engines Market, Measuring & Controlling Devices Market ), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America).
Processing shale gas and then transporting it to its end users through connected pipelines can be undertaken by using the shale gas processing equipment. The shale gas processing equipment market has experienced accelerated growth since the increased focus on the discovery and exploration of shale gas activities and corresponding production processes. The constantly increasing demand for energy resources from the energy industries has encouraged more development initiatives and exploration activities through government interventions. Factors like growing governmental initiatives towards developing more natural gas resources to fulfill the demand of the end-users have led to an upwards growth in the shale gas processing equipment market. These government initiatives and plans come into action when this market receives funds and investments from the public as well as private energy industries. The increasing awareness among the energy industries about the rising environmental degradation and issues related to it have made them shift their attention from conventional gases to natural gases. There has also been a change in consumer preferences, leading to a change in the source and more demand for natural shale gas. Along with these factors, other factors like increasing strategic pipeline projects and increasing technological interventions have led to a time-efficient and cost-effective action plan for the industries, thus, luring them towards the shale gas processing equipment market. However, restrains like pollution in groundwater and over-limit demand for shale gas can bring stagnation in the growth of the shale gas processing equipment market in the future.
Based on the components, the market is segmented into Compressors & Pumps Market, Electrical Machinery Market, Heat Exchangers Market, Internal Combustion Engines Market, Measuring & Controlling Devices Market. As of 2018, the compressors and pumps market held the largest share in this market. The energy industries and companies give more preference to compressors and pumps compared to the rest of the components because of their durability and ability to efficiently manage air pressure.
The North American region held its dominance in this market, over the rest of the world. A country like the USA being part of the North American region is contributing majorly towards the dominant position of the region in the shale gas processing equipment market compared to the rest of the regions. North America has the maximum emerging energy industries, discovering unexplored natural gases and satisfying the end-user demands by producing a tremendous amount of shale gas and oil. However, the Asia-Pacific region has been estimated to record the fastest growth rate over the forecast period. The countries like China and Japan have had increased demand for natural gases like shale gas. The government of such countries is encouraging the shift from conventional gases to natural gases like shale gas. These governmental organizations have also been bringing in huge investments to support the emerging energy industries. Along with this, the increasing technological advancements and inter and intra-region gas connection strategies have propelled fast growth in the APAC region.
Honeywell UOP, Cameron, Exterran, GasTech Engineering Corporation, Pall Corporation, Membrane Technology & Research, Johnson Controls, Linde Engineering, Newpoint Gas, LP, and Van Gas System among others, are the major vendors competing in this market.
Please note: This is not an exhaustive list of companies profiled in the report.
In June 2017, SK Group in agreement with the largest natural gas producer in the USA, Continental Resources, undertook the shale gas projects in unison.
In April 2017, Pembina Pipeline Corp. initiated an action in Northern Alberta and British Columbia shale deposits to undertake an overseas export outlets project for by-products of LPG.
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The Global Shale Gas Processing Equipment Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Shale Gas Processing Equipment Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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