The global shale gas processing equipment market size reached US$ 5.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.
Shale gas processing equipment refer to the mechanical devices used for processing and preparing shale gas for transportation in interstate or intrastate pipelines. Some of the commonly used equipment include compressors, pumps, heat exchangers, internal combustion engines, measuring and controlling devices, hydrators, dehydrators, injection systems and storage tanks. They are also utilized in the midstream phase to process, refine and treat the oil and gas before commercial utilization. They are used for various industrial processes, such as distillation, pyrolysis, reheating, cracking and chemical treatment. They also aid in the removal of condensates, mercury and nitrogen and natural gas liquid (NGL) extraction and fractionation.
Shale Gas Processing Equipment Market Trends:
A significant increase in energy requirements across the globe is one of the key factors driving the market growth. Shale gas is widely being as an alternate source of energy due to its higher calorific value and lower carbon emissions in comparison to petroleum and coal. Moreover, the widespread adoption of hydraulic fracturing and horizontal drilling techniques for oil and gas exploration activities is providing a thrust to the growth of the market. This has resulted in the increasing demand for shale gas processing equipment to eliminate carbon dioxide, hydrogen sulfide, nitrogen, heavy hydrocarbons and water and meet the quality regulations. Additionally, various technological advancements and the development of efficient and cost-effective drilling and extraction techniques, are anticipated to drive the market toward growth. For instance, organizations are widely using carbon dioxide-enhanced oil recovery (CO2-EOR) solutions for tertiary oil recovery from unconventional reservoirs while preventing chemical floods. Other factors, including rapid industrialization, along with the implementation of favorable government policies promoting the use of shale gas, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global shale gas processing equipment market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component and process.
Breakup by Component:
- Compressors and Pumps
- Electrical Machinery
- Heat Exchangers
- Internal Combustion Engines
- Measuring and Controlling Devices
Breakup by Process:
- Chemical Treatment
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Burckhardt Compression AG, Croft Production Systems Inc., Exterran Corporation, Gas Processing Equipment Pvt. Ltd., Gastech Engineering LLC, Honeywell International Inc., Koch Industries Inc., Linde plc, Membrane Technology and Research Inc., Newpoint Gas LLC, Schlumberger Limited and Van Air Systems.
|Base Year of the Analysis
||Component, Process, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Burckhardt Compression AG, Croft Production Systems Inc., Exterran Corporation, Gas Processing Equipment Pvt. Ltd., Gastech Engineering LLC, Honeywell International Inc., Koch Industries Inc., Linde plc, Membrane Technology and Research Inc., Newpoint Gas LLC, Schlumberger Limited and Van Air Systems
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Key Questions Answered in This Report:
- How has the global shale gas processing equipment market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global shale gas processing equipment market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the process?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global shale gas processing equipment market and who are the key players?
- What is the degree of competition in the industry?