Press release
How Natural Gas Compressor Market Will Dominate In Coming Years? Key Players: Ingersoll Rand, Bauer Compressors Inc., Ariel Corporation, Atlas Copco, Siemens, General Electric Manufacturing Company, Fornovo Gas SRL, Quincy Compressor, Aerotecnica, S.A. Gr
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/natural-gas-compressor-market-101358
The global natural gas compressor market size is prognosticated to rise promisingly in the forecast period, attributable to the rise in demand for energy to consume in various residential, commercial, and industrial purposes globally. Fortune Business Insights in their report titled, “Natural Gas Compressor Market Size, Share and Global Trend By Technology (Positive Displacement, Dynamic), By Application (Gas Filling Stations, Petroleum Refineries, Processing Plants, Industrial Manufacturing, Others) and Geography Forecast till 2026,” predicts such demands for energy to bode well for the market.
The list of significant players in the natural gas compressor market include:
• MAN Diesel & Turbo
• Ariel Corporation
• Shenyang Blower Works Group Corporation
• Atlas Copco
• Aerotecnica, S.A. Grupo Hastinik
• Bauer Compressors Inc.
• Kaishan Group
• General Electric Manufacturing Company
• Fornovo Gas SRL
• Siemens
• Ebara Corporation
• Kerui Group US LLC
• Quincy Compressor
• Ingersoll Rand
• Jereh Group
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Key Market Driver – Increased utilization of CNG, LPG in regards to reduce carbon footprints.
Key Market Restraint – Volatility in crude oil prices and increasing adoption of renewable sources
Stringent Regulations on Carbon Emissions to Promote Compressed Natural Gas, Boosting Market
Compressors are utilized to reduce the volume of liquid or gas and increase its pressure. Natural Gas compressors are basically used in oil and gas industries where natural gas is converted into end products namely liquefied natural gas and compressed natural gas (LNG and CNG). The surge in demand for energy resulted in the laying down of natural gas pipelines for producing natural gas that can be readily used across nations. Natural gas can be used for household purposes such as cooking or industrial purposes as well as in the automotive sectors. Apart from this, the surge in need to reduce carbon emission to the atmosphere has propelled governments of various nations to look for alternative fuels such as CNG and LNG, especially in the automotive and cooking industries. Furthermore, the low price and high efficiency of CNG are also expected to promote the natural gas compressor market growth in the coming years.
Key Segmental Overview:
1. By Technology
• Positive Displacement
• Dynamic
2. By Application
• Gas Filling Stations
• Petroleum Refineries
• Processing Plants
• Industrial Manufacturing
• Others
3. By Geography
• North America (The USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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As per the current natural gas compressor market trends, the gas filling stations and processing plants segment will dominate the market in terms of application, during the forecast period. This is attributable to the surge in exploration activities rise in the adoption of natural gas, especially in the automotive sector.
North America to Dominate Market and Earn Large Shares Owing to Presence of Natural Gas Reserves
The natural gas compressor market finds application in major geographies namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, the market is dominated by North America on account of the presence of the largest natural gas-producing nation namely the U.S. This is followed by Asia Pacific on account of the presence of unexplored natural reserves in its developing nations such as India. Additionally, government regulations imposed on carbon emissions, coupled with the rising urbanization are expected to further help Asia Pacific attract high natural gas compressor market revenue in the forecast duration.
On the other side, the market in Europe is likely to witness significant growth in the forecast duration on account of the rising adoption of cleaner energy sources. Apart from that, the Middle East and Africa market is likely to witness high growth opportunities, owing to the ongoing exploration activities in processing plants and refineries.
Key Industry Developments
The year 2020 has witnessed many developments in the natural gas compressor market. Some of the significant industry developments include:
June 2020 – An agreement was signed between Gasunie and Accenture wherein the latter will provide IT services to the former for effective transportation of green gas, hydrogen, and natural gas from biomass from the Groningen field, the largest in Europe.
June 2020- Company collaborative partnership was signed between Zahroof valves and Burckhardt Compression Services wherein ZVI products will be available throughout the GCC nations. Apart from valves, Burckhardt will also provide services for the installation, monitoring, and maintenance of the valves with e required inventory.
July 2020 – A private equity company called Arcline Investment Management, entered into a definitive agreement for acquiring the reciprocating compression division of the Baker Hughes, a general electric (GE) company. This division will include servicing and manufacturing of engine and compression systems utilized in various applications including the transmission of natural gas.
Have any Query? Speak to Analyst at: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/natural-gas-compressor-market-101358
Major Table of Content For Natural Gas Compressor Market:
1. Introduction
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Natural Gas Compressor Market Analysis, Insights and Forecast, 2026
6. North America Natural Gas Compressor Market Analysis, Insights and Forecast, 2026
7. Europe Natural Gas Compressor Market Analysis, Insights and Forecast, 2026
8. Asia Pacific Natural Gas Compressor Market Analysis, Insights and Forecast, 2026
9. Middle East and Africa Natural Gas Compressor Market Analysis, Insights and Forecast, 2026
10. Latin America Natural Gas Compressor Market Analysis, Insights and Forecast, 2026
11. Competitive Landscape
12. Company Profile
13. Conclusion
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