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The compressors are the devices which are used for increasing the pressure and reducing the volume of a gas or liquid. The natural gas compressors are used in the oil and gas industry from the extraction phase until the end-use as the natural gas products such as CNG and LNG is to be used at a specific pressure. The Increasing demand for energy has seen the natural gas pipelines being laid to make the natural gas available to be used at various locations across the country.
The high efficiency and low cost of natural gas as compared to fossil fuels are the other factors which have seen increased adoption of the natural gas compressors. Green energy targets set up by many countries have also helped increased utilization of the natural gas. The applications of natural gases have been spread into various sectors such as automotive, industrial, cooking and others.
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The laying down on pipelines for transportation of natural gas has seen more and more natural gas compressors being installed as the gas needs to be compressed again over a distance of 40-100miles. This adoption of natural gas as a substitute fuel is set to continue over the forecast period acting as driving force for the global natural gas compressors market.
On the basis of the technology used for compression, the global natural gas compressors market can be segmented into positive displacement and dynamic. The positive displacement segment is set to dominate the market in the coming years owing to its simplicity in operation adjustability according to the varying customer demands.
Based on its applications, the global natural gas compressors market can be segmented into gas filling stations, petroleum refineries, processing plants, industrial manufacturing, and others. The rise in exploration activities and increased adoption of natural gas in the automotive segment will see the gas filling stations, and processing plants hold a larger share in market in the given forecast period.
The major market driver for the global natural gas compressor market is the increasing demand from the developed and the developing nations to reduce the carbon emissions. This has led to the adoption of compressed natural gas, and liquefied natural gas as an alternative fuel for the automotive industry, and the cooking industry. Also the higher efficiency and low price of compressed natural gas are the other factors driving the growth of the natural gas compressors market.
The key market restraint for the global natural gas compressor market is the fluctuations in the price of crude oil, which is still a primary source for gases in many parts of the world. Also the adoption of renewables sources such as wind, solar, biogas, etc. are the factor hindering the growth of the global natural gas compressors market.
Some of the major companies that are present in the global natural gas compressor market are Ingersoll Rand, Bauer Compressors Inc., Ariel Corporation, Atlas Copco, Siemens, General Electric Manufacturing Company, Fornovo Gas SRL, Quincy Compressor, Aerotecnica, S.A. Grupo Hastinik, MAN Diesel & Turbo, Ebara Corporation, Kaishan Group, Jereh Group, Kerui Group US LLC, and Shenyang Blower Works Group Corporation.
· Positive Displacement
· Gas Filling Stations
· Petroleum Refineries
· Processing Plants
· Industrial Manufacturing
· 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)
The global natural gas compressor market , into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America region has dominated the global natural gas compressor market owing to the ongoing shale gas boom in the region. The USA stands as the largest producer of natural gas, and therefore the market for natural gas compressors has grown substantially in the country. After North America the Asia Pacific region holds the major growth opportunity for the natural gas compressor market. The reasons driving the growth of the market in the region are the drift towards cleaner sources of energy, increased demand for energy, government initiatives to reduce the carbon emission and back the use of natural gas, and the growing urbanization. These all factors combatively have triggered the growth of natural gas compressors market in the region. Europe region also holds a significant share in the natural gas compressors market owing to increasing adoption of cleaner sources of energy. The ongoing exploration activities are driving the implementation of natural gas compressors in refineries and processing plants in the Middle East and Africa region.
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