IMARC Group's report titled “Shale Gas Processing Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global shale gas processing equipment market share. The global 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 represents the mechanical devices used for processing and preparing shale gas for transportation in interstate or intrastate pipelines. Some commonly utilized tools comprise compressors, pumps, heat exchangers, internal combustion engines, measuring and controlling devices, hydrators, dehydrators, injection systems, and storage tanks. They are also used in the midstream phase to process, refine, and treat the oil and gas before commercial utilization. These tools are utilized for numerous industrial processes, including 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.
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Shale Gas Processing Equipment Market Trends and Drivers:
The widespread adoption of the product as an alternate energy source with higher calorific value and lower carbon emissions compared to petroleum and coal, on account of the elevating energy requirements across the globe, is among the key elements driving the shale gas processing equipment market. Moreover, the escalating need for hydraulic fracturing and horizontal drilling techniques for oil and gas exploration activities is also stimulating the market growth. Besides this, the growing popularity of shale gas processing equipment to eliminate carbon dioxide, hydrogen sulfide, nitrogen, heavy hydrocarbons, and water and meet quality regulations is acting as another significant growth-inducing factor. Furthermore, several technological advancements and the introduction of efficient and cost-effective drilling and extraction techniques are further propelling the global market. Apart from this, organizations are widely using carbon dioxide-enhanced oil recovery (CO2-EOR) solutions for tertiary oil recovery from unconventional reservoirs while preventing chemical floods, which is positively influencing the market growth. Additionally, rising industrialization levels and the launch of favorable government policies promoting the use of this gas are anticipated to fuel the shale gas processing equipment market over the forecasted period.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component:
- Compressors and Pumps
- Electrical Machinery
- Heat Exchangers
- Internal Combustion Engines
- Measuring and Controlling Devices
- Others
Breakup by Process:
- Distillation
- Pyrolysis
- Reheating
- Cracking
- Chemical Treatment
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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