Shale Gas Processing Equipment Market - Recent Developments in the Market's Competitive Landscape
The natural oil and gas market is expanding its orbit of implementations to personal as well industrial spheres. Subsequently, organizations have shifted their focus towards the exploration of oil and gas.
Recent discoveries of shale play across the world have propelled the installation of new gas processing plants. Oil companies extract crude oil and natural gas by drilling down horizontally into the deep layers of shale. Further, natural gas needs to be thoroughly processed before transmission for ultimate usage. As the processing units begin to scale up their operations, the need for gas processing equipment has risen at a record pace. Ergo, the ongoing proliferation in exploration and production activities has driven the demand for shale gas processing equipment.
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Information-driven Equipment Development Shall Amplify Shale Gas Processing Equipment Sales
Hydraulic fracturing is widely used for shale gas extraction. Besides, shale gas processing equipment comprises electrical machinery, internal combustion engines, compressors, measuring devices, etc. As exploration and production companies are making their way towards shale gas production, process cost-efficiency remains a prime concern for the market players. Additionally, the unconventional approach to building shale gas processing units has slashed the performance of diverse plants. Although this sudden downturn is concerning, the situation offers room for improvisation and reaping gains to the suppliers. Firms can use information-driven technology to develop systems and tools that efficiently filter the extracted natural gas. Right calls at the right moments in time will expectedly reap the financial rewards for the shale process equipment producers.
Prominent Competitors Leading in the Worldwide Shale Gas Processing Equipment Market
Major players leading the global shale gas processing equipment market are the Exterran Corporation, Linde Engineering, GasTech Engineering LLC, Pall Corporation, Camaron, Membrane Technology & Research, Honeywell UOP, Pall Corporation, Johnson Controls, Newpoint Gas LP, and Exterran, and Van Gas System, Schlumberger Limited. The market holds lucrative opportunities for the aforementioned companies in the times to follow.
Extensive Shale Gas Production in North America Impels Regional Market Growth
Demand for shale gas processing equipment is soaring high in North America, followed by APAC regions. Development of shale plays in the East viz Marcellus, and Utica are major drivers for US natural gas production. The increasing output from Appalachian and Permian basins has fueled the production of shale gas in the region by 10%. Consequently, the shale gas processing equipment market is blooming with downstream opportunities, proliferating energy demand, and productivity gains.
In the APAC region, China and Australia play a major part in the expansion of gas supply. China is leading the market with 1250 trillion cubic feet gas reserves. The chief reason for this expansion is exceptional support from the Chinese government for the localization of gas supply. On the other hand, Australia boosted its in-line production for LNG exports. Furthermore, investors are willing to capitalize on South Africa's shale gas resources to utilize the natural gas in gas-to-liquids (GTL), and coal-to-liquids (CTL) plants. Hence, the increase in gas production has given rise to the demand for shale gas processing equipment in Asia Pacific.
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