Asia Mea Natural Gas Compressors Latest Study On Segmentation Analysis, Leading Players and Industry Trends Forecast to 2023
Compressors can be classified as reciprocating and centrifugal compressors. Reciprocating compressors are mostly used for compressing natural gases and other process gases in case gas flow rates are relatively low and desired pressures are high. Centrifugal compressors are located in chemical and process plants, in pipelines that are part of distribution network in ships and drilling fields and which brings gas in the usable form to the market. Natural gas compressors and natural gas engines are also used in the natural gas vehicle (NGV) applications including utilities and public refueling, municipal fleets, school bus and forklift applications. Gas turbine machines are usually deployed in industrial cogeneration, combined heat and power applications and combined-cycle service for power generation. The simple-cycle units of gas turbines are generally deployed in renewable energy power plants. The natural gas compressors, natural gas engines, gas turbines, centrifugal gas compressors report provides market estimates in term of revenue (US$ Mn) and volume (units) for the period 2012, 2013, and 2014 and forecast for the period 2015-2022. In 2013, United Arab Emirates (UAE) dominated the market for natural gas engines in Middle East region and was valued at US$ 17.1 Mn in the terms of revenue. The growth is mainly driven by growing number of natural gas engines in this region. Additionally, the country is aiming at importing natural gas to cater to domestic demand of steel and aluminum industries. This in turn is expected to drive the infrastructure development across natural gas industry in the country, thus driving the market in the near future. The market for gas turbines was valued at 6,658.0 million in 2013 and is expected to reach US$ 11,184.2 million in 2022, growing at a CAGR of 8.9% from 2015-2022. The growth in gas turbine market is attributed to its adoption in co-generation plants. Proliferation in number of natural gas vehicles along with other applications such as gas gathering, gas transfer, well head gas recovery, flare elimination has contributed to the growth of natural gas compressors market in the Middle East. The market for natural gas compressors in 2013 was valued at US$ 86.3 million and US$ 82.9 million in Saudi Arabia and United Arab Emirates (UAE) respectively. The growth in natural gas compressors market in Africa is also promising, with Algeria volume shipments accounting 1,561 unit in 2013 and is expected to grow at a CAGR of 12.1% (in terms of volume) from 2015-2022. The market for gas equipment including natural gas compressors, natural gas engines, gas turbines, and centrifugal gas compressors is moving towards the phase of consolidation with major players trying to increase their portfolio by acquiring leading players in a particular segment. In May 2014, Siemens AG acquired the energy business comprising aero-derivative gas turbine and compressor of Rolls-Royce to cement its place in the power generation and oil and gas industries. Moreover, in September 2014, Siemens AG acquired Dresser-Rand Group Inc. This helped the company to obtain competitive edge over its major competitor GE in the energy business. Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.