Press release
Key Trends Shaping the Future Liquefied Natural Gas Compressor Market From 2025-2034: Innovative Technologies Revolutionize The Liquefied Natural Gas Compressor Market
Liquefied Natural Gas Compressor Market Size
The growth of the liquefied natural gas compressor market is projected to be boosted by the amplified production of natural gas from shale reserves. Such reserves are a type of sedimentary rock deposit that can be exploited for oil and gas production. The amplified production of natural gas enhances the development of the liquefied natural gas compressor market as these compressors are necessary for the liquefaction of natural gas, a critical step for its transport. According to the Energy Information Administration, a US government agency, the electric power sector saw the most significant rise in natural gas consumption among all U.S. industrial sectors in 2023, marking a 7% increase (2.2 Bcf/d) from 33.2 Bcf/d in 2022, reaching a new record of 35.4 Bcf/d in April 2024. Consequently, the heightened production of natural gas from shale reserves is spurring the expansion of the liquefied natural gas compressor market.
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What is the future CAGR of the liquefied natural gas compressor market, and how will it impact industry expansion?
Significant growth has been observed in recent years in the size of the liquefied natural gas compressor market. The market which was at $4.25 billion in 2024 is predicted to expand to $4.48 billion in 2025, representing a compound annual growth rate (CAGR) of 5.5%. Factors such as increasing global LNG demand, the necessity for operational efficiency, regulatory and environmental compliance, as well as global market penetration have played a key role in the historical growth.
Expectations for significant growth in the liquefied natural gas compressor market are high over the next several years. The market is predicted to expand to $5.6 billion in 2029, symbolizing a compound annual growth rate (CAGR) of 5.7%. Factors contributing to the growth for the given forecast period include investments devoted towards LNG infrastructure, increasing efficiency and reducing costs, market development in burgeoning economies, a transformation towards more ecofriendly energy sources, and an increase in LNG demand and trade. Noteworthy trends during this forecast period encompass a rise in LNG demand and output, growth of LNG infrastructure, energy transitions and adoption of cleaner fuels, global market growth, and a focus on enhancing operational efficiency.
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What are the most significant trends transforming the liquefied natural gas compressor market today?
The key trend emerging in the liquefied natural gas compressor market is technological innovation. Top firms in this market, such as ConocoPhillips, are strategically focusing on innovative technological developments to enhance their market standing. For example, ConocoPhillips introduced The Traditional OCP Configuration - OCP Pro Technology, which boosts the turnover capabilities and annual availability of compressor trains while maintaining high thermal efficiency across a wide operating spectrum. In contrast, the Latest OCP Configuration - OCP Compass technology aims at reducing the overall cost by minimizing the liquefaction train's equipment size and quantity, significantly simplifying the process of modularization. Additionally, OCP Compass facilities will match the industry-leading efficiency and low emissions of greenhouse gases, akin to the OCP Pro facilities.
Which key market segments comprise the liquefied natural gas compressor market and drive its revenue growth?
The liquefied natural gas compressor market covered in this report is segmented -
1) By Design: Vertically-Split Barrel, Horizontally-Split Barrel, Axial Compressors
2) By Application: Low Pressure Application, Medium Pressure Application
3) By End User: Vehicles, Electrical, Industrial, Residential, Other End Users
Subsegments:
1) By Vertically-Split Barrel: Single-Stage Compressors, Multi-Stage Compressors
2) By Horizontally-Split Barrel: Single-Stage Compressors, Multi-Stage Compressors
3) By Axial Compressors: Single-Stage Axial Compressors, Multi-Stage Axial Compressors
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What regions are at the forefront of liquefied natural gas compressor market expansion?
North America was the largest region in the liquefied natural gas compressor market in 2024. The regions covered in the liquefied natural gas compressor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the liquefied natural gas compressor market?
Major companies operating in the liquefied natural gas compressor market include EagleBurgmann, General Electric Company, Siemens AG, Mitsubishi Heavy Industries Ltd., Elliott Group, Kobelco Compressors America Inc., IMW Industries Ltd., Sundyne, IHI Rotating Machinery Engineering Co Ltd., NEUMAN & ESSER GROUP, Atlas Copco AB, Burckhardt Compression AG, MOLGAS ENERGY SAU, Howden Group, Sulzer Ltd., Ariel Corporation, Bauer Compressor Inc., Ingersoll Rand Inc., HYDRAULIC MACHINES & SYSTEMS GROUP PLC. , Clean Energy Fuels Corp, Kobe Steel Ltd., Ebara Corporation, Hitachi Ltd., Gardner Denver Holdings Inc., Sullair LLC, Quincy Compressor LLC, Kaeser Kompressoren SE, Corken Inc., Baker Hughes Company, MAN Energy Solutions SE, Mitsui Seiki Kogyo Co Ltd., Rolls-Royce Holdings plc, Worthington Industries Inc.
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What Is Covered In The Liquefied Natural Gas Compressor Global Market Report?
• Market Size Forecast: Examine the liquefied natural gas compressor market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the liquefied natural gas compressor market for a structured understanding.
• Key Players Overview: Analyze major players in the liquefied natural gas compressor market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the liquefied natural gas compressor market.
• Segment Contributions: Evaluate how different segments drive overall growth in the liquefied natural gas compressor market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the liquefied natural gas compressor market.
• Industry Challenges: Identify potential risks and obstacles affecting the liquefied natural gas compressor market.
• Competitive Landscape: Review strategic developments in the liquefied natural gas compressor market, including expansions, agreements, and new product launches.
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