According to a recent market study published by Growth Market Reports, titled, “Global Industrial Machine Gas Processing Equipment Market by type, by end-use industry, by distribution channel, and by region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 27,373.42 Million in 2022 and is anticipated to grow at a growth rate 4.2 % by the year 2031.

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The industrial machine gas processing equipment refers to the sector that deals with the manufacturing, distribution, and sales of machinery and equipment used for processing various types of gases in industrial settings. This equipment is designed to handle gases in large quantities and is utilized across a wide range of industries such as oil & gas, chemical manufacturing, Aerospace & defense, power generation, and water treatment. The primary purpose of gas processing equipment is to separate, purify, and treat different gases to meet specific industrial requirements. Various types of equipment are used such as air separation units, cryogenic centrifugal pumps, gas dehydration units, continuous mixers, compressed gas cylinders, recovery units, heat exchangers among others for processing gas. The demand for industrial machine gas processing equipment is driven by the growing demand for natural gas, expanding industrialization and urbanization, technological advancement, and focus on energy efficiency. The gas processing equipment market is likely to witness advancements in technology, due to the high emphasis on energy efficiency, and increased focus on environmentally friendly solutions to meet the growing demand for gases in various industrial applications. Natural gas has evolved as a environmental friendly alternative to traditional fossil fuels. The increasing consumption of natural gas in industrial applications such as power generation, chemical processing, and manufacturing has resulted in an increased demand for efficient and advanced gas processing equipment. As countries experience fast urbanization, the demand for energy to power diverse manufacturing processes, construction activities, and urban infrastructures grows. Natural gas, a clean source, has attracted the enterprises and cities seeking efficient and ecologically friendly solutions. Increasing the demand for industrial machine gas processing equipment. The outbreak of Coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus to the online supply of raw materials for manufacturing gas processing equipment, and thereby, creating manufacturing issues. COVID-19 cases have been registered in more than 180 countries and territories across the globe. The World Health Organization (WHO) reported around 768,560,727 cases of COVID-19, including 6,952,522 deaths, as of July 26, 2023. Many countries are economically weak, while other countries have poor healthcare systems that are affecting the economy and life of people. Many construction projects experienced delays or cancellations, due to the pandemic. This directly impacted the demand for industrial machine gas processing equipment, as installations were postponed or put on hold. These factors have hampered the market.

Key Takeaways from the Study:

  • Key players operating in the market ABB, Air Liquide, Air Products and Chemicals, Inc, ATB GROUP S.p.A., Baker Hughes Company, Honeywell International Inc., Linde plc, Messer, SLB, and Taiyo Nippon Sanso. These companies are considered key manufacturers of Industrial Machine Gas Processing Equipment based on their revenue, research development (R&D) activities, Gauge Type offerings, regional presence, and supply chain management system.

  • Based on Equipment type, the global industrial machine gas processing equipment market is segmented into air separation units, cryogenic centrifugal pumps, gas dehydration units, continuous mixers, compressed gas cylinders, recovery units, heat exchangers, and others. The XX accounted for the largest market value of USD XX Million in 2022 and is expected to reach a market value of USD XX Million by 2031, expanding at a robust CAGR of XX% during the forecast period.

  • Based on End-Use industry, the global industrial machine gas processing equipment market is segmented into oil & gas, chemical manufacturing, aerospace & defense, power generation, water treatment and others. The XX segment accounted for a large market value of USD XX Million in 2022 and is expected to reach a market value of USD XX Million by 2031, expanding at a robust CAGR of XX% during the forecast period.

  • Based on distribution channel, the global industrial machine gas processing equipment market is segmented into online and offline. The online segment is further segmented into company websites and third party websites in terms of online sales. The offline segment is bifurcated into direct sales and distributors in terms of offline sales. The XX segment accounted for a large market value of USD XX Million in 2022 and is expected to reach a market value of USD XX Million by 2031, expanding at a robust CAGR of XX% during the forecast period.

  • Based on region, the global industrial machine gas processing equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is estimated to hold a substantial market share in the coming years, due to the strong industrial base and continuous economic expansion in the region. Growth and diversification of many businesses in the region is boosting the demand for dependable equipment to manage the numerous gases used in manufacturing, refining, and energy production. The market in Asia Pacific is expected to register significant growth during the forecast period, as the growing population and rising living standards in several countries are boosting energy usage in the region. Rising demand for energy is boosting the development of gas processing facilities and technologies to extract, treat, and distribute natural gas and other gases.

Report Scope:

Report Metric

Details

Market Value in 2022

US$ 27,373.42 Million

Market Growth Rate (from 2016 to 2030)

4.2 %

Historical Data

2016 to 2022

Base Year

2021

Forecast Period

2023 - 2031

Units Considered

Value (US$ Million)

Market Segments

By Equipment Type, By End-Use Industry, By Distribution Channel, By Region.

Key Companies Profiled

ABB, Air Liquide, Air Products and Chemicals, Inc, ATB GROUP S.p.A., Baker Hughes Company, Honeywell International Inc., Linde plc, Messer, SLB, and Taiyo Nippon Sanso.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

 

Target Audience:

  • Supply-side: Manufacturer, distributors, and Supplier.

  • Demand Side: Oil and Gas, Chemical, Petrochemical, Pharmaceutical, Electronics.