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Analysis of the North American Process Gas Compressor Market : Growing Demand for Natural Gas and Shale Development Drive the Market

  • 82 pages, published in January 2015
  • By Frost & Sullivan
  • Report Number: 2657748

Summary

Table of Contents

Key Findings

•The North American process gas (PG) compressor market generated a revenue of $ x billion in 2014 and is expected to witness a CAGR of x % between 2014 and 2021.
•The production of shale gas in North America has led to a renewal of opportunities in a number of related industries such as chemical, which is a major end user of PG compressors. The rising demand for natural gas is driving investment in upstream and midstream facilities. PG compressors have a wide range of applications across these facilities, for example, compressor stations are required for pipeline transport.
•The conversion of coal-fired power plants to gas-fired ones also increases the need for PG compressors.
•Although the compressor technology is mature, the need for better energy efficiency and compliance with environmental regulations drives end users to upgrade their compression systems.
•The North American process gas compressor market is expected to reach $ x billion in 2021.

CEO’s Perspective

The PG compressor market is highly consolidated and acquisition is a key opportunity for growth.
The increasing number of gas-fired power plants to generate electricity is likely to provide growth opportunities for PG compressors market.
As natural gas gains importance across the globe, the need for PG compressors in midstream oil and gas facilities will rise.
A complete compression solution and high-quality service are the key for vendors to remain competitive.
Technology improvements to ensure higher energy efficiency and minimize emissions will promote sales of new compressors.

Market Definitions

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 gas thereby making it more suitable to be transported through a pipe or other vessel. PG compressors are particularly suited for difficult conditions. This study covers both lubricated and oil-free compressors.
•Reciprocating gas compressors are positive displacement compressors. Piston compressors are a type of reciprocating gas compressor that are driven by a crank-shaft and reduce the volume of gas by the motion of pistons in a confined space. A diaphragm compressor is another variant of reciprocating gas compressor and uses a flexible membrane instead of a piston to compress the gas.
•Rotary gas compressors are positive displacement compressors that work through two interwoven helical screws, which when turned, force the gas into smaller volumes, compressing it.
•A centrifugal (turbo) gas compressor is a dynamic machine which uses an impeller in an enclosed 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 comprises manufacturers that produce basic chemicals, such as acids and salts, which are used for making pigments and colors, chemical end products, and other products such as soap, 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 a generation facility to distribution systems, or operate distribution systems that transmit electricity to the final consumer.
•Oil and Gas 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 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 where a series of chemical engineering unit processes and operations are carried out to refine certain materials or convert raw materials into products of value. An oil refinery converts crude oil into high-octane motor fuel (gasoline/petrol), diesel oil, liquefied petroleum gases (LPG), aviation fuel, kerosene, heating oils, asphalt, and petroleum coke.
•Other Processing Industries: Other processing industries include the steel industry, the glass industry, which includes manufacturers of products 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. They also include the food and beverage industry, which consists of companies involved in processing raw food materials, packaging, and distribution, and can be defined as producing any product meant for human consumption other than pharmaceuticals.

Key Questions This Study Will Answer

Is the PG compressor market growing, how long will it continue to grow, and at what rate?
Which are the main competitors in the North American 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 currently offered meeting customer needs or is additional development needed?
What are the dynamics of this mature market and how will it pan out in the coming years?

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