Liquefied Natural Gas Compressor Market Size, Share & Trends Report

Liquefied Natural Gas Compressor Market Size, Share & Trends Analysis Report By Design, By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

  • Published Date: ---
  • Base Year for Estimate: ---
  • Report ID: GVR1581
  • Format: Electronic (PDF)
  • Historical Data: ---
  • Number of Pages: 0

The global liquefied natural gas compressor market is expected to witness growth over the forecast period owing to changing energy consumption patterns coupled with growing natural gas demand as a major fossil fuel. Capacity expansions in existing liquefied natural gas (LNG) plants as well as upcoming projects particularly in the U.S. and Australia are expected to fuel the liquefied natural gas (LNG) Compressor market expansion over the next seven years. 10% of global energy supply is currently met by LNG fleet. Increasing number of LNG terminals and strict government norms have led to surge in LNG compressor demand for superior liquefaction process. This trend is estimated to foster the market growth and is expected to continue over the foreseeable future. Growing requirement for operators to achieve lowest possible cost of delivery has led to optimized reliability and economies of scale which is in turn expected to bolster LNG compressor market growth over the forecast period. High growth of LNG supply over conventional inter-regional pipeline trade is also anticipated to fuel market penetration. Rapid development of various unconventional natural gas reserves is expected to require highly optimized compressor systems with improved reliability to handle multiple gas streams originating from different sources. Stranded natural gas fields particularly those of U.S. and China’s shale reserves has made LNG as one of the most lucrative mode to transport as well as deliver to target markets. These aforementioned trends in the global natural gas industry are expected to bolster LNG compressor demand over the forecast period. High raw material cost coupled with complex fabrication process is expected to hinder market growth over the next few years.

On the basis of design, the market has been segmented into vertically-split barrel, horizontally-split and axial compressors. Horizontally-split compressors are estimated to have the maximum market penetration on account of efficient designs and ease in maintenance. These compressors are employed for medium and low pressure applications. The product segment is expected to lose share to high growth segments such as axial and vertical-split owing to increasing installation of these compressors in upcoming projects. High requirement for high pressure compressor systems with enhanced compressibility in offshore conditions is expected to fuel vertical and axial LNG compressors demand over the forecast period.

North America was the largest regional LNG compressor market in 2014 and is expected to maintain its dominance in the global industry over the next seven years. Improving LNG terminal infrastructure in the region along with upcoming LNG gasification terminals particularly in the U.S. and Canada is expected to bolster market growth in the region. Middle East & Africa was another major LNG compressor regional market in 2014. Qatar was the largest LNG exporter and is investing heavily on improving the existing infrastructure. The regional market is also expected to witness significant LNG compressor demand from economies such as Egypt, Algeria, Nigeria, UAE and Kuwait. Asia Pacific liquefied natural gas compressor market is expected to witness high growth in terms of demand owing to several upcoming LNG gasification terminals and growing natural gas consumption as a major medium for power generation. Majority of future demand is expected to come from countries such as U.S., China, Japan, India, Pakistan, UAE, Albania, Indonesia and Malaysia.

Global liquefied natural gas compressormarket is moderately consolidated with major players such as Seimens and Mitsubishi Heavy Industries are investing heavily on product development particularly targeting small scale non-long term LNG projects. Other major companies operating in the LNG compressor market include EagleBurgmann, General Electric Company, Elliott Company, Kobelco Compressors America Inc., and IMW Industries Ltd.

Pricing & Purchase Options

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified