Shale Gas Processing Equipment Global Market Report 2024

Shale gas refers to a variety of natural gas found underground within shale rock formations. Shale gas processing equipment is employed to process, refine, and treat shale gas, preparing it for commercial use before transportation. These processing units play a crucial role in the midstream phase of the oil and gas industry, facilitating the production of shale gas.

The primary components of shale gas processing equipment include compressors and pumps, electrical machinery, heat exchangers, internal combustion engines, measuring and controlling devices, and other associated components. Compressors are mechanical devices that decrease the volume of a gas to elevate its pressure, while pumps are designed to transfer challenging liquids, including those containing solids or highly viscous fluids. Various processes involved in shale gas processing encompass distillation, pyrolysis, reheating, cracking, and chemical treatment. These processes find application in pipelines, natural gas processing plants, facilities dealing with liquefied natural gas (LNG) or liquefied petroleum gas (LPG), crude oil transportation by rail, and other midstream applications.

The shale gas processing equipment market research report is one of a series of new reports that provides shale gas processing equipment market statistics, including shale gas processing equipment industry global market size, regional shares, competitors with a shale gas processing equipment market share, detailed shale gas processing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the shale gas processing equipment industry. This shale gas processing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The shale gas processing equipment market size has grown rapidly in recent years. It will grow from $7.03 billion in 2023 to $8.17 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The expansion witnessed in the historical period can be ascribed to the flourishing fashion and apparel industry, the surge in home sewing and DIY crafting pursuits, the uptick in disposable income leading to heightened consumer spending on apparel, the need for industrial sewing machines in manufacturing processes, a strong focus on the textile and leather sectors, and the increasing trend of favoring customized and tailored clothing.

The shale gas processing equipment market size is expected to see rapid growth in the next few years. It will grow to $14.67 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The anticipated growth in the forecast period can be linked to the adoption of computerized and automated sewing machines, the extension of sewing machine markets into emerging economies, ongoing research and development in sustainable sewing technologies, the demand for specialized machines tailored for technical textiles, a focus on compact and portable sewing machines, and the increasing market demand for smart and connected sewing machines. Key trends expected in the forecast period encompass the prevalence of computerized and programmable machines, innovations in flare gas management, an increased emphasis on environmental compliance and emission reduction, the electrification of equipment and power generation, advancements in separation and filtration technologies, as well as the incorporation of high-efficiency compression and refrigeration systems.

The anticipated growth in the shale gas processing equipment market is driven by the increasing demand for energy. Energy demand is defined as the total power or heat consumed by fixed structures, measured in kilowatt-hours or kilowatt-hour equivalent over a specific period. Shale gas, with its positive impact on supplies and consumer prices for natural gas, is becoming increasingly significant. Notably, natural gas accounts for a quarter of the overall U.S. energy consumption. In 2021, BP reported a 5.8% increase in energy demand, surpassing 2019 levels by 1.3%. Additionally, according to the International Energy Agency (IEA), global energy consumption is expected to rise by 5% in 2021 after a 4.5% decline in 2020. Hence, the escalating energy demand is a major factor propelling the growth of the shale gas processing equipment market.

The growth of the gas processing equipment market is expected to be driven by the increase in urbanization. Urbanization refers to the migration of people from rural areas to cities, resulting in the expansion of urban areas. Gas processing equipment plays a vital role in supporting urbanization by providing the necessary infrastructure for the efficient distribution of natural gas. This facilitates the growth of residential and industrial areas, promoting cleaner energy solutions for the expanding urban population. As of April 2022, over 4.3 billion people, accounting for 55% of the world's population, were living in urban settings, with projections indicating an increase to 80% by 2050, according to the World Economic Forum. Consequently, the upward trajectory of urbanization is fueling the gas processing equipment market.

A notable trend in the shale gas processing equipment market is the focus on product innovations. Key companies in the market are actively developing innovative products to strengthen their market positions. For example, in July 2023, ABB Ltd., an automation company based in Sweden, introduced the ABB XIO series, a new I/O (input/output) series catering to the digital requirements of the oil and gas sector. This series is designed to enhance monitoring, control, and management of oil and gas flow applications, utilizing Ethernet-to-Serial passthrough applications for real-time monitoring and control, ultimately improving data accessibility and integrity.

Major players in the gas processing equipment market are emphasizing the introduction of cost-effective renewable gas production equipment to gain a competitive edge. This equipment includes technologies and machinery that efficiently generate renewable gases while remaining affordable and operationally effective. For instance, in October 2023, Haffner Energy, a French company, launched a range of economically competitive and environmentally friendly renewable gas production equipment aimed at replacing natural gas in industry. This solution is designed to assist European industrial facilities in managing energy expenses while transitioning to greener processes. The offering is an expanded version of Haffner Energy's SYNOCA solution, providing increased capacity for a more efficient and sustainable energy source.

In January 2022, Exterran, a U.S.-based natural gas compression and oil & gas equipment provider, acquired Enerflex for $1.5 billion. Through this acquisition, Enerflex aims to enhance its ability to serve customers in key natural gas, water, and energy transition markets. Enerflex is a Canada-based company specializing in shale gas processing equipment.

Major companies operating in the shale gas processing equipment market include Pall Corporation, GasTech Engineering Corporation, Cameron International Corporation, Honeywell UOP, Linde Engineering PLC., Johnson Controls International, Newpoint Gas LP, Membrane Technology & Research Inc., Van Gas Systems, Schlumberger Limited, Sivalls Inc., ATB Riva Calzoni S.p.A., Koch Industries Inc., Burckhardt Compression AG, Halliburton Company, Exterran Corporation, Van Air Systems, FMC Technologies Inc., National Oilwell Varco Inc., Weatherford International PLC, Baker Hughes Company, General Electric Company, TechnipFMC PLC, ABB Ltd., Siemens AG, Emerson Electric Co., Rockwell Automation Inc., Schneider Electric SE, Yokogawa Electric Corporation, Mitsubishi Electric Corporation

North America was the largest region in the shale gas processing equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the Shale Gas Processing Equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The shale gas processing equipment market consists of sales of hydrolic pumps, horizontal drilling and hydraulic fracturing. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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