Shale Gas Processing Equipment Market 2021 Prospects & Upcoming Growth and Opportunities 2026
Based on country, the shale gas processing equipment market is bifurcated across the U.S., Canada, China, Mexico, Algeria, Argentina, an Others. The U.S. accounted for largest shale gas processing equipment market share over other countries. However, China is expected to exhibit highest CAGR during the forecast period.
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Based on component, the compressors and pumps segment contributed to nearly one-third of the global shale gas processing equipment market share in 2018 and is expected to retain its dominance throughout 2019-2026. Gas processing capacity has expanded in most of the plants located in the U.S. and therefore, demand for compressors has also increased in the region, which has affected the global contribution too. The heat exchangers segment, on the other hand, would register the fastest CAGR of 15.4% during the study period. Demand for heat exchangers in a single gas processing unit is high, as it sets the perfect temperature on which a processing plant needs to operate in.
Based on geography, the U.S. accounted for more than four-fifths of the global shale gas processing equipment market revenue in 2018 and is anticipated to rule the roost till 2026. This is attributed to the fact that the U.S. is the first country that has undertaken successful commercial scale production of shale gas. At the same time, the region across China would cite the fastest CAGR of 17.2% throughout the estimated period. As of now, the revenue generation from shale gas equipment is lowest in China as their shale production projection has not met the Chinese governmental agenda. Therefore, the Government of China invested additional $5 billion in the shale reserves exploitation in 2018.
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The major key players operating in the global shale gas processing equipment industry include Schlumberger Ltd, Sivalls, Inc, Van Air Systems, Croft Production Systems, Inc., Koch Industries, Inc., Pall Corporation, PEMCO, Burckhardt Compression AG, Gas Processing Equipment, and ATB Riva Calzoni S.p.A.
Key Findings of the Shale Gas Processing Equipment Market:
The U.S. market for shale gas processing equipment is predicted to account for a share of over 70% market share by 2026
Based on Component, compressors and pumps market segment is emerged as the global leader by acquiring 31% market share in 2018, and it is anticipated to be the largest market during the forecast period
As of 2018, shale gas accounted for more than 50% share in overall natural gas production in the U.S.
After $5.5 billion investment in shale gas exploration, China is anticipated to further invest in 2020 to develop hydraulic fracturing technology by aiming commercial production of shale reserves
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