Portland, OR, March 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global shale gas processing equipment industry was pegged at $4.51 billion in 2018 and is anticipated to hit $13.5 billion by 2026, manifesting a CAGR of 14.8% during the forecast period. The report offers an extensive analysis of changing market trends, top winning strategies, key segments, Porter’s Five Forces, and business performance of key market players.
Rise in number of shale gas reserves, increase in its production at commercial scale, and technological advancements in heat exchangers drive the growth of the global shale gas processing equipment market. However, poor effects caused by shale gas production through hydraulic fracturing hinders the growth some extent. Nevertheless, rise in efforts of government to commercially exploit shale reserves is expected to present lucrative opportunities for the key players in the near future.
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Covid-19 Scenario -
- The outbreak of the pandemic led to disrupt the manufacturing processes and supply chain management. At the same time, the industry has witnessed shortage of raw material.
- However, the government bodies in various regions are now initiating to ease off the regulations, and with this the industry is expected to recoup soon.
The global shale gas processing equipment market is segmented on the basis of component and country. Based on component, the global market is divided into compressors & pumps, electrical machinery, heat exchangers, internal combustion engines, measuring & controlling devices, and others. The compressors and pumps segment accounted for nearly one-third of the global shale gas processing equipment market share in 2018 and is expected to lead the trail throughout 2026. However, the heat exchangers segment is expected to manifest the fastest CAGR of 15.4% during the forecast period.
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Based on geography, the global shale gas processing equipment market is studied across the U.S., Canada, China, Algeria, Mexico, Argentina, and others. Market across the U.S. held the lion’s share with more than four-fifths of the global shale gas processing equipment market revenue in 2018. The region is anticipated to rule the roost till 2026. On the other hand, the region across China is expected to showcase the fastest CAGR of 17.2% throughout the forecast period.
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The key market players profiled in the report include Pall Corporation, PEMCO, Burckhardt Compression AG, Gas Processing Equipment, chlumberger Ltd, Sivalls, Inc, Van Air Systems, Croft Production Systems, Inc., Koch Industries, Inc., and ATB Riva Calzoni S.p.A.
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