Advanced LNG compressors (Lead To Growth in the near future 2016-20)

"LNG Compressor Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 - 2020" The Report covers current Market Trends, Worldwide Analysis, Global Forecast, Review, Share, Size, Growth, Effect.

Description-

The growing demand of LNG in the global energy portfolio has led to the development of many essential types of equipment in the LNG value chain. The market for natural gas is slowly expanding and the LNG trade is anticipated to grow at a rapid rate owing to increased natural gas production. LNG compressors are vital equipments used in the LNG liquefaction process. These systems are installed before refrigeration process in the LNG plant and are also known as refrigeration compressors. With increasing LNG contracts, it is essential that LNG operators achieve the lowest possible delivery costs by attaining larger economies of scale and optimizing reliability. Advanced LNG compressors reduce the liquefaction time and thus provide cost reduction opportunities to LNG operators. The market for LNG compressors is expected to grow at a rapid rate in future owing to increased natural gas production from unconventional sources and offshore locations.

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The increasing LNG trade and development in manufacturing technology are the primary drivers encouraging investment in LNG compressor market. With increasing natural gas production from the U.S. shale reserves and offshore locations in Africa, the LNG trade has witnessed a boom. The increasing LNG trade has thus enhanced the market for supply equipments associated with LNG value chain. The decoupling of crude oil prices with natural gas prices has further boosted the natural gas market, thus increasing the demand for LNG compressors. The increasing requirement of LNG operators to meet tight delivery schedules has led to rapid advances in machine design, capacity and efficiency. Such advancements in manufacturing technology have attracted many companies to invest in the LNG compressor market. However, the reliability of components is still a major concern for the LNG compressor market and this factor may hamper the growth in the market. The opening of the Panama Canal will further enhance trade opportunities which will positively impact the LNG compressor market. 

The market for LPG compressors can be segmented on the basis of the design of the compressors. Horizontally-split compressors, axial compressors and vertically-split barrel compressors are some of the major design specifications for LNG compressors.  Horizontally-split compressors are primarily used for low and medium pressure applications. Axial compressors are installed for high flow and low pressure applications. Whereas, vertically-split compressors are implemented in high pressure applications. 

North America is a major segment of the LNG compressor market. The increasing natural gas production from shale gas reserves has bolstered the LNG export from this region. With the opening of the Panama Canal this market is further anticipated to grow at a substantial pace. The Asia Pacific region is also heavily investing in LNG plants, which will lead to growth of the LNG compressor market in the near future. Major energy consuming countries of this region such as China, Japan and India have started developing LNG infrastructure which would encourage major LNG compressor companies to invest in this region. Middle –East is also one of the major regions investing in the LNG compressor market. Qatar is a major exporter of LNG, which is heavily investing in LNG infrastructure development. 

Some of the major players competing in the LNG compressor market are Siemens AG, EagleBurgmann Germany GmbH & Co. KG, Mitsubishi Heavy Industries Ltd., General Electric Company, IMW Industries Ltd., Elliott Company and Kobelco Compressors America Inc.

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