Transparency Market Research

Global LNG Compressors Market Expands with Rising Natural Gas Exploration Activities Worldwide

Transparency Market Research has published a new report "LNG Compressor Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 - 2020" to its report store.


Albany, NY -- (SBWIRE) -- 03/25/2016 -- Transparency Market Research presents a new market study on the global LNG compressor market, wherein proceedings of the said market are analyzed for the 2014-2020 period. The title to this report is "LNG Compressor Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 – 2020."

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The report presents the many reasons for the expansion of the LNG compressors market. First and foremost, the increasing exploration of offshore oilfields and unconventional sources for natural gas production is leading to the development of this market. In recent years, with the development of shale gas reserves in the U.S. and exploration of offshore reserves in Africa, the market for supply equipment for LNG has received a boost, which includes LNG compressors as well.

In the global energy scenario, LNG occupies a pivotal position, necessitating the development of equipment used in the LNG supply chain. This is due to the increasing natural gas production, resulting in expansion of LNG trade. In LNG liquefaction processes, LNG compressors are essential equipment used before the refrigeration process in a typical LNG plant.

In LNG operations, companies are required to keep up with tight delivery schedules, which has been the reason for the rapid advances in the design, capacity, and efficiency of various types of machinery. Furthermore, it has also forced LNG operators to deliver at the lowest possible rates in the bid to attain a competitive edge. This is because advanced LNG compressors are advantageous for reducing the liquefaction time, which in turn results in profits for LNG operators. This has attracted the attention of manufacturing companies that are involved in the development of newer equipment for LNG operations. However, the LNG compressor market faces hindrances in the form of reliability concerns about some components.

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The report segments the global market for LNG compressors on the basis of design and geography. The components of the market based on design are horizontally split compressors, vertically split compressors, and axial compressors, which are used for low and medium pressure, high pressure, and high flow and low pressure applications.

North America represents a major market for LNG compressors. This is mainly due to the increasing exploration of share gas reserves for producing natural gas. The opening of the Panama Canal will further bolster the LNG compressor market in this region. In Asia Pacific, large investments in LNG plants will result in rapid growth of the LNG compressors market during the forecast period. In China, India, and Japan, government initiatives for tapping into natural gas reserves in the form of infrastructural development, subsidies, etc. is arousing the interest of private parties.

Some top companies in the global LNG compressors market are Siemens AG, GmbH & Co. KG, General electric Company, and Mitsubishi Heavy Industries Ltd. among others.

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