The growing demand of LNG in the
global energy portfolio has led to the development of many essential
types of equipment in the LNG value chain. The market for natural gas is
slowly expanding and the LNG trade is anticipated to grow at a rapid
rate owing to increased natural gas production. LNG compressors are
vital equipments used in the LNG liquefaction process. These systems are
installed before refrigeration process in the LNG plant and are also
known as refrigeration compressors. With increasing LNG contracts, it is
essential that LNG operators achieve the lowest possible delivery costs
by attaining larger economies of scale and optimizing reliability.
Advanced LNG compressors reduce the liquefaction time and thus provide
cost reduction opportunities to LNG operators. The market for LNG
compressors is expected to grow at a rapid rate in future owing to
increased natural gas production from unconventional sources and
offshore locations.
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The increasing LNG trade and
development in manufacturing technology are the primary drivers
encouraging investment in LNG compressor market. With increasing natural
gas production from the U.S. shale reserves and offshore locations in
Africa, the LNG trade has witnessed a boom. The increasing LNG trade has
thus enhanced the market for supply equipments associated with LNG
value chain. The decoupling of crude oil prices with natural gas prices
has further boosted the natural gas market, thus increasing the demand
for LNG compressors. The increasing requirement of LNG operators to meet
tight delivery schedules has led to rapid advances in machine design,
capacity and efficiency. Such advancements in manufacturing technology
have attracted many companies to invest in the LNG compressor market.
However, the reliability of components is still a major concern for the
LNG compressor market and this factor may hamper the growth in the
market. The opening of the Panama Canal will further enhance trade
opportunities which will positively impact the LNG compressor market.
The market for LPG compressors can be
segmented on the basis of the design of the compressors.
Horizontally-split compressors, axial compressors and vertically-split
barrel compressors are some of the major design specifications for LNG
compressors. Horizontally-split compressors are primarily used for low
and medium pressure applications. Axial compressors are installed for
high flow and low pressure applications. Whereas, vertically-split
compressors are implemented in high pressure applications.
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North America is a major segment of
the LNG compressor market. The increasing natural gas production from
shale gas reserves has bolstered the LNG export from this region. With
the opening of the Panama Canal this market is further anticipated to
grow at a substantial pace. The Asia Pacific region is also heavily
investing in LNG plants, which will lead to growth of the LNG compressor
market in the near future. Major energy consuming countries of this
region such as China, Japan and India have started developing LNG
infrastructure which would encourage major LNG compressor companies to
invest in this region. Middle –East is also one of the major regions
investing in the LNG compressor market. Qatar is a major exporter of
LNG, which is heavily investing in LNG infrastructure development.
Some of the major players competing in
the LNG compressor market are Siemens AG, EagleBurgmann Germany GmbH
& Co. KG, Mitsubishi Heavy Industries Ltd., General Electric
Company, IMW Industries Ltd., Elliott Company and Kobelco Compressors
America Inc.
This research report analyzes this
market on the basis of its market segments, major geographies, and
current market trends. Geographies analyzed under this research report
include :
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of :
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing
market players and new entrants along with detailed value chain
analysis.
Reasons for Buying this Report:
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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