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LONDON, GREATER LONDON, UK, September 12, 2024 /EINPresswire.com/ -- The shale gas processing equipment market has experienced robust growth in recent years, expanding from $7.03 billion in 2023 to $8.17 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to growth in the fashion and apparel industry, expansion of home sewing and DIY crafting activities, increased disposable income and consumer spending on apparel, demand for industrial sewing machines in manufacturing, emphasis on textile and leather industries, rise in popularity of customized and tailored clothing.
Strong Future Growth Anticipated
The shale gas processing equipment market is projected to continue its strong growth, reaching $14.67 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to adoption of computerized and automated sewing machines, expansion of sewing machine markets in emerging economies, research and development in sustainable sewing technologies, need for specialized machines for technical textiles, emphasis on compact and portable sewing machines, growing demand for smart and connected sewing machines.
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Growth Driver Of The Shale Gas Processing Equipment Market
The increase in urbanization is expected to propel the growth of the gas processing equipment market. Urbanization refers to the increasing migration of people from rural areas to cities, resulting in the growth and expansion of urban areas. Gas processing equipment plays a crucial role in urbanization by providing the necessary infrastructure for the efficient distribution of natural gas, enabling the growth of residential and industrial areas, and promoting cleaner energy solutions for expanding urban populations.
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Major Players And Market Trends
Key players in the shale gas processing equipment market include Pall Corporation, GasTech Engineering Corporation, Cameron International Corporation, Honeywell UOP, Linde Engineering PLC.
Major companies operating in the gas processing equipment market are increasing their focus on introducing cost-effective renewable gas production equipment to gain a competitive edge in the market. Cost-effective renewable gas production equipment includes technologies and machinery that generate renewable gases efficiently while remaining affordable and operationally effective.
Segments:
1) By Component: Compressors and Pumps, Electrical Machinery, Heat Exchangers, Internal Combustion Engines, Measuring and Controlling Devices, Others Components
2) By Process: Distillation, Pyrolysis, Reheating, Cracking, Chemical Treatment
3) By Application: Pipeline, Natural Gas Processing Plants, LNG or LPG Facilities, Crude by Rail, Other Midstream Applications
Geographical Insights: North America Leading The Market
North America was the largest region in the shale gas processing equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shale gas processing equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Shale Gas Processing Equipment Market Definition
Shale gas refers to a type of natural gas discovered underground in shale rock, and shale gas processing equipment processes, refines, and treats shale gas before it is transported for commercial use. The shale gas processing equipment are used in the midstream phase of the oil and gas industry to produce shale gas.
Shale Gas Processing Equipment Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Shale Gas Processing Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on shale gas processing equipment market size, shale gas processing equipment market drivers and trends, shale gas processing equipment market major players, shale gas processing equipment competitors' revenues, shale gas processing equipment market positioning, and shale gas processing equipment market growth across geographies. The shale gas processing equipment market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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