Shale Gas Processing Equipment Global Market Report 2023
Major players in the shale gas processing equipment market are Pall Corporation, GasTech Engineering Corporation, Cameron International Corporation, Honeywell UOP, Linde Engineering PLC., Johnson Controls International, Newpoint Gas LP, Membrane Technology & Research Inc.
New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Shale Gas Processing Equipment Global Market Report 2023" - https://www.reportlinker.com/p06433785/?utm_source=GNW
, Van Gas Systems, Schlumberger Limited, Sivalls Inc., ATB Riva Calzoni S.p.A, Koch Industries Inc., and Burckhardt Compression AG
The global shale gas processing equipment market grew from $6.11 billion in 2022 to $7.12 billion in 2023 at a compound annual growth rate (CAGR) of 16.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The shale gas processing equipment market is expected to grow to $12.09 billion in 2027 at a CAGR of 14.2%.
The shale gas processing equipment market consists of sales of hydrolic pumps, horizontal drilling and hydraulic fracturing.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Shale gas refers to a type of natural gas discovered underground in shale rock, and shale gas processing equipment processes, refines, and treats shale gas before it is transported for commercial use. The shale gas processing equipment are used in the midstream phase of the oil and gas industry to produce shale gas.
North America was the largest region in the shale gas processing equipment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of components of shale gas processing equipment are compressors and pumps; electrical machinery; heat exchangers; internal combustion engines; measuring and controlling devices; and other components.Compressors are mechanical devices that reduce the volume of a gas to increase its pressure, whereas pumps can transfer difficult liquids such as those containing solids or highly viscous fluids.
The various processes include distillation, pyrolysis, reheating, cracking, and chemical treatment. These are used in pipelines, natural gas processing plants, LNG or LPG facilities, crude by rail, and other midstream applications.
Growing energy demand is expected to propel the growth of the shale gas processing equipment market going forward.Energy demand refers to the total amount of power or heat consumed by fixed structures on the farm, expressed in kilowatt-hours or kilowatt-hour equivalent, in a given period.
Shale gas is having a beneficial impact on supplies and consumer prices for natural, and additional environmental benefit., Natural gas provides a quarter of overall U.S. energy. For instance, in 2021, according to BP, a UK-based oil and gas company, energy demand increased by 5.8% in the year 2021, exceeding 2019 levels by 1.3%. Further, in 2021, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organisation working towards economic development, global energy consumption will increase by 5% in the year 2021, following a 4.5 % decline in 2020. Therefore, the growing energy demand is driving the growth of the shale gas processing equipment market.
Product innovations are a key trend gaining popularity in the shale gas processing equipment market.Major companies operating in the shale gas processing equipment market are focused on developing innovative products to strengthen their position.
For instance, in October 2020, Halliburton, a US-based company operating in shale gas processing equipment, introduced SmartFleet, the first intelligent automated fracturing system. This system improves near-wellbore and far-field fracture placement and directly manages frac hits and continuously measures cluster uniformity and fracture geometr. Itd also provides operators with real-time fracture control while pumping oil and gas
In January 2022, Exterran, a US-based natural gas compression and provider of oil & gas equipment, acquired Enerflex for a deal amount of $1.5B. Through this acquisition, Enerflex will strengthen its ability to serve customers in key natural gas, water, and energy transition markets. Enerflex is a Canada-based company operating in shale gas processing equipment
The countries covered in the Shale Gas Processing Equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The shale gas processing equipment market research report is one of a series of new reports that provides shale gas processing equipment market statistics, including shale gas processing equipment industry global market size, regional shares, competitors with a shale gas processing equipment market share, detailed shale gas processing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the shale gas processing equipment industry. This shale gas processing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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