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Analysis of the Global Process Gas Compressor Market : Increasing Global Investments in Upstream and Midstream Oil and Gas to Boost the Market

  • 128 pages, published in January 2015
  • By Frost & Sullivan
  • Report Number: 2649481

Summary

Table of Contents

Key Findings

•The global process gas compressor market generated a revenue of $ x billion in 2014 and is expected to grow at a compound annual growth rate (CAGR) of x % between 2014 to 2021.
•The process gas (PG) compressor market is primarily driven by the oil and gas segment which is the largest contributor to market revenue. This study provides detailed analysis on upstream, midstream, and downstream contributions to the process gas market.
•The production of shale gas in North America has renewed market opportunities in this region and an increase in demand for natural gas boosts revenue from the midstream segment of oil and gas.
•Similarly, the exploration and production of shale in other regions such as Asia-Pacific will drive the market as well.
•Another industry that will boost the market is power generation. In North America, the conversion from coal-fired to gas-fired plants has lead to increasing compressor demand while the growing population and urbanization in Asia-Pacific necessitates larger amounts of power generation.
•Although compressor technology is mature, the need for better energy efficiency and compliance with environmental regulations compels end users to upgrade their compression systems.

CEO’s Perspective

As natural gas gains importance globally, the PG compressor market will see growing demand from midstream oil and gas infrastructure.
The increasing number of gas-fired power plants is likely to provide growth opportunities for PG compressors.
The PG compressor market is highly consolidated and acquisition is a key opportunity for growth.
Technology improvements in terms of energy efficiency and minimized emissions will promote the sales of new compressors.
A full-fledged compression solution and high-quality service are key to a successful compressor vendor.

Product Definition

A compressor is defined in this study as a device or equipment that supplies air or other gas at an increased pressure. This is achieved by reducing the volume of a gas, therefore making it easier to transport through a pipe or other vessel. PG compressors are particularly suitable where difficult conditions occur and other compressor systems are less reliable. This study covers both lubricated and oil-free compressors.
•Reciprocating gas compressors are positive displacement compressors. Driven by a crank-shaft, piston compressors reduce the volume of a gas by the motion of pistons in a confined space where the gas is compressed. A diaphragm compressor is a variant of this that uses a flexible membrane instead of a piston to compress the gas.
•Rotary gas compressors are positive displacement compressors. Screw compressors work through two interwoven helical screws, which when turned, force the gas into smaller and smaller volumes, compressing it.
•A centrifugal (turbo) gas compressor is a dynamic machine which uses an impeller in a shaped casing to force the gas to the exit of the impeller, thereby increasing the velocity of the gas. A diffuser then converts this velocity energy into pressure energy.

End-user Definitions

Petrochemical and Chemical Industry: This industry is comprised of manufacturers that produce basic chemicals, such as acids and salts, that are used for making pigments and colors; chemical end products; and other products such as soaps, cosmetics, and specialty end products. They are also used in the transformation of raw materials through chemical processes.

Power Generation: The power generation industry includes all forms of power generating plants: fossil fuel, wind, hydro, nuclear, and geo-thermal power plants. Establishments in this industry group are likely to perform one or more of the following tasks: operate generation facilities that produce electric energy, operate transmission systems that convey electricity from generation facility to distribution systems, or operate distribution systems that convey electricity to the final consumer.

Oil and Gas (O&G) Exploration and Recovery: This industry includes companies involved in the exploration and production of oil and gas, including all processes conducted at or before the wellhead. This can include the prospecting, drilling, and recovery of conventional and unconventional oil and gas reserves.

Gas Distribution and Transportation: The efficient and effective movement of natural gas from producing regions to consumption regions requires extensive and elaborate transportation systems. Distribution is the final step in delivering natural gas to customers.

Refinery: A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw materials into products of value. An oil refinery converts crude oil into high-octane motor fuel (gasoline/petrol), diesel oil, liquefied petroleum gases, aviation fuel, kerosene, heating oils, asphalt, and petroleum coke.

Other Processing Industries: Other processing industries include the steel industry; the glass industry, which includes the manufacturers of items such as flat glass, glass hollow wares and containers, vacuum flasks, and laboratory glassware; the automotive industry; and the electronics industry, which designs and produces devices such as radios, televisions, stereos, computers, semiconductors, transistors, and integrated circuits. It also includes the food and beverage industry, which is comprised of companies involved in processing raw food materials, packaging, and distribution, and can be defined as producing any product meant for human consumption, aside from pharmaceuticals.

Key Questions This Study Will Answer

Is the PG compressor market growing, how long will it continue to grow, and at what rate?
Who are the main competitors in the global PG compressor market?
What are the qualitative and quantitative trends affecting the PG compressor market?
How will the structure of the market change with time? Is the market ripe for acquisitions?
Are the products/services offered today meeting customer needs or is additional development needed?
What are the dynamics of this mature market and how will it evolve over the coming years?

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