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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