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According to The Business Research Company’s research on the shale gas processing equipment market, 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 gas and additional environmental benefit., Natural gas provides a quarter of overall U.S.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 industry.
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The global shale gas processing equipment market size is expected to grow from $5.15 billion in 2021 to $6.04 billion in 2022 at a CAGR of 17.3%. 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, affecting many markets across the globe. The shale gas processing equipment market share is expected to reach $10.01 billion in 2026 at a CAGR of 13.5%.
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 geometry and also provides operators with real-time fracture control while pumping oil and gas.
The global shale gas processing equipment market segmentation is categorized by component into compressors and pumps, electrical machinery, heat exchangers, internal combustion engines, measuring and controlling devices, others components; by process into distillation, pyrolysis, reheating, cracking, chemical treatment; by application into pipeline, natural gas processing plants, LNG or LPG facilities, crude by rail, other midstream applications.
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, Van Gas Systems, Schlumberger Limited, Sivalls Inc, ATB Riva Calzoni S.p.A, Koch Industries Inc, and Burckhardt Compression AG
In 2021, North America was the largest region in the shale gas processing equipment market. 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.
Shale Gas Processing Equipment Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide shale gas processing equipment market forecast size and growth, shale gas processing equipment market segments, shale gas processing equipment market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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