Gas Treatment Equipment Market Growth during the Forecast Period, 2018-2028
The gas treatment equipment market is gaining growth momentum in the oil and gas industry as the natural gas production and storage operations are getting more facilitated.
[UKPRwire, Fri Jun 14 2019] The natural gases contain higher unsaturated hydrocarbon compounds and also mixture of saturated hydrocarbons. Their presence is harmful in the production and storage units. The industrial plants are adopting new initiatives to reduce the direct gas emission into the environment. Such measures are driving the Gas Treatment Equipment Market.
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The gas treatment equipment market is driven by the applications in the end-use industries such as sulfur recovery, CO2 capture, and gas sweetening, among others. The continuous market growth for gas treatment equipment is due to cryogenic plants and the latest trend is the shale gas production and distribution. The gas treatment equipment, which are used in the flue gas treatment processes, are robust. They reduce the emission of harmful cryogenic gases.
The petrochemical industry for the production of aromatics and styrene uses gas treatment equipment. The noble gas emission from the end-user industries requires gas treatment equipment with modern technology to reduce them in the ambient air. The advancement with new technology in gas treatment equipment for reducing gas emissions from industries is expected to the support the market growth.
Gas Treatment Equipment Market: Dynamics
The gas treatment equipment market is driven by the adoption of such equipment for hydrogen sulfide and carbon dioxide. The emission of H2S and CO2 needs to be regulated and the local government in respective countries have made strict measures to regulate it. The implementation of such regulations in the end-user industries is driving the installation of gas treatment equipment. The gas sweetening process in the end-user industries are creating opportunities for the installation of gas treatment equipment.
The European countries are the primary players for the adoption of such gas treatment equipment as they are obliged to follow the regulations laid by the European Union. The market opportunities for gas treatment equipment market is concentrated in the Northern China and India as the industrial pollution is reaching a new scale. The gas treatment equipment market is gaining growth momentum in the oil and gas industry as the natural gas production and storage operations are getting more facilitated.
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The developed economies such as the U.S., U.K., Germany, Japan, and other European countries are the primary users of gas treatment equipment. The growth in the water and wastewater treatment applications has driven the gas treatment equipment market in these regions. In the forecast period it is expected that the gas treatment equipment market will have a steady growth in the developing economies such as India, China, Brazil, Malaysia and Indonesia.
The growth in food and beverages and pharmaceutical industry in the APAC region will have a linear growth momentum in the gas treatment equipment market. It is driven by the government regulations for reducing carbon footprints. The SMEs in the APAC region are expected to play a vital role in the growth of the gas treatment equipment market during the forecast period. The key challenge for the growth of gas treatment equipment market is the reduction of coal-fed operation in power stations globally.
Gas Treatment Equipment Market: Key Participants
Examples of some of the key participants in the global gas treatment equipment market are Allied Equipment Inc, ATEKO a.s., DAIICHI JITSUGYO CO., LTD., EASON INDUSTRIAL ENGINEERING CO., LTD., Ecolab, Enerprocess, ENERSTENA, ESI.info, Framo (ALFA LAVAL), Gas Processing Equipment Pvt. Ltd., PROSERNAT, PSE Engineering GmbH, SNPO
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