Industrial Machine Gas Processing Equipment Market By Equipment Type (Air Separation Units, Cryogenic Centrifugal Pumps, Gas Dehydration Units, Continuous Mixers, Compressed Gas Cylinders, Recovery Units, Heat Exchangers, Others), By End-Use Industry (Oil & Gas, Chemical Manufacturing, Aerospace & Defense, Power Generation, Water Treatment, Others) By Distribution Channel (Online, Offline) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Industrial Machine Gas Processing Equipment Market Outlook
The global industrial machine gas processing equipment market size was valued at USD 27,373.42 Million in 2022 and is expected to reach USD 40,057.58 Million in 2031, expanding at a CAGR of 4.2% during the forecast period. The overall incremental opportunity is estimated to be USD 11,342.87 Million from 2023 to 2031.
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.
The availability of natural gas deposits in many parts of the world supports market expansion by making it a cost-effective option for enterprises while also helping to reduce greenhouse gas emissions. The growing trend of the industrial machine gas processing equipment market is projected to continue in the years to come, owing to the global focus on sustainability and environmental responsibility.
Industrial Machine Gas Processing Equipment Market Dynamics
Major Drivers
Growing Demand for Natural Gas
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.
Expanding Industrialization and Urbanization
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.
Technological advancements
Manufacturers of gas processing equipment continue to innovate to improve the efficiency, safety, and dependability of their products as engineering and material science study and research progresses. These improvements have resulted in the development of automated gas processing systems that can handle higher volumes of natural gas while consuming less energy and emitting less pollution.
Focus on Energy Efficiency
Manufacturers have are creating and adopting novel technology that improve their equipment's overall energy efficiency. Advanced heat exchangers, high-efficiency compressors, and enhanced process controls are being integrated into gas processing systems to minimize energy wastage and enhance thermal efficiency.
Existing Restraints
Initial High Investment
The specialized equipment is critical for a variety of industries, including oil and gas, petrochemicals, and chemical processing, because it is used in gas separation, purification, and treatment. However, the initial cost for establishing this complex machinery is significant, making it a huge financial strain for many businesses, particularly small and medium-sized organizations.
Long Project Lead Times
The design and construction of these specialized devices are extremely complicated, necessitating precise engineering, modification, and adherence to industry standards. As a result, depending on the complexity and magnitude of the project, delivery dates for such equipment might range from several months to years.
Emerging Opportunities
Expansion of Liquefied Natural Gas (LNG)
LNG has gained recognition as a cleaner and more efficient alternative to traditional fossil fuels, and its use in a variety of industries is rapidly increasing. The function of industrial machine gas processing equipment in the liquefaction, storage, and transportation of LNG is critical, making it an essential component of the LNG value chain.
Growing Petrochemical Industry
The petrochemical industry is critical to the production of a wide range of key products, including plastics, polymers, solvents, and synthetic materials used in industries such as automotive, construction, packaging, and electronics. As global demand for these petrochemical products rises, the requirement for efficient and innovative gas processing equipment becomes critical.
Scope of Industrial Machine Gas Processing Equipment Market Report
The report on the global industrial machine gas processing equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Industrial Machine Gas Processing Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Equipment Type (Air Separation Units, Cryogenic Centrifugal Pumps, Gas Dehydration Units, Continuous Mixers, Compressed Gas Cylinders, Recovery Units, Heat Exchangers, Others), End-Use Industry (Oil & Gas, Chemical Manufacturing, Aerospace & Defense, Power Generation, Water Treatment, Others), Distribution Channel (Online, Offline) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
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. |
Industrial Machine Gas Processing Equipment Market Segment Insights
The global Industrial Machine Gas Processing Equipment market is segmented on the basis of equipment type, by end-use industry, by distribution channel, and by region.
Equipment Type Segment Analysis
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. The XX segment accounted for the second largest revenue of USD XX Million in 2022 and is expected to register a revenue of USD XX Million by 2031, expanding at a robust CAGR of XX% during the forecast period.
End-Use Industry Segment Analysis
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.
The XX segment accounted for the second 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.
Distribution Channel Segment Analysis
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.
Regional Analysis
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. The market in Europe is expected to expand at a rapid pace during the forecast period, due to increasing investments in energy infrastructure, particularly gas processing plants, in the region. Countries in Europe need cutting-edge equipment to filter and distribute gases across numerous industries to meet their renewable energy and emissions reduction targets.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Industrial Machine Gas Processing Equipment Market
- Historical, Current, and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints, and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Industrial Machine Gas Processing Equipment Market Performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Machine Gas Processing Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial Machine Gas Processing Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Machine Gas Processing Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial Machine Gas Processing Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial Machine Gas Processing Equipment Market Size & Forecast, 2016-2031
4.5.1 Industrial Machine Gas Processing Equipment Market Size and Y-o-Y Growth
4.5.2 Industrial Machine Gas Processing Equipment Market Absolute $ Opportunity
Chapter 5 Global Industrial Machine Gas Processing Equipment Market Analysis and Forecast By Equipment Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Equipment Type
5.1.2 Basis Point Share (BPS) Analysis By Equipment Type
5.1.3 Absolute $ Opportunity Assessment By Equipment Type
5.2 Industrial Machine Gas Processing Equipment Market Size Forecast By Equipment Type
5.2.1 Air Separation Units
5.2.2 Cryogenic Centrifugal Pumps
5.2.3 Gas Dehydration Units
5.2.4 Continuous Mixers
5.2.5 Compressed Gas Cylinders
5.2.6 Recovery Units
5.2.7 Heat Exchangers
5.2.8 Others
5.3 Market Attractiveness Analysis By Equipment Type
Chapter 6 Global Industrial Machine Gas Processing Equipment Market Analysis and Forecast By End-Use Industry
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By End-Use Industry
6.1.2 Basis Point Share (BPS) Analysis By End-Use Industry
6.1.3 Absolute $ Opportunity Assessment By End-Use Industry
6.2 Industrial Machine Gas Processing Equipment Market Size Forecast By End-Use Industry
6.2.1 Oil & Gas
6.2.2 Chemical
6.2.3 Manufacturing
6.2.4 Aerospace & Defence
6.2.5 Power Generation
6.2.6 Water Treatment
6.2.7 Others
6.3 Market Attractiveness Analysis By End-Use Industry
Chapter 7 Global Industrial Machine Gas Processing Equipment Market Analysis and Forecast By Distribution Channel
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By Distribution Channel
7.1.2 Basis Point Share (BPS) Analysis By Distribution Channel
7.1.3 Absolute $ Opportunity Assessment By Distribution Channel
7.2 Industrial Machine Gas Processing Equipment Market Size Forecast By Distribution Channel
7.2.1 Online
7.2.1.1 Company Website
7.2.1.2 Third-party Website
7.2.2 Offline
7.2.2.1 Direct Sale
7.2.2.2 Distributers
7.3 Market Attractiveness Analysis By Distribution Channel
Chapter 8 Global Industrial Machine Gas Processing Equipment Market Analysis and Forecast by Region
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities by Region
8.1.2 Basis Point Share (BPS) Analysis by Region
8.1.3 Absolute $ Opportunity Assessment by Region
8.2 Industrial Machine Gas Processing Equipment Market Size Forecast by Region
8.2.1 North America
8.2.2 Europe
8.2.3 Asia Pacific
8.2.4 Latin America
8.2.5 Middle East & Africa (MEA)
8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Current & Future Impact Analysis
9.3 Economic Impact Analysis
9.4 Government Policies
9.5 Investment Scenario
Chapter 10 North America Industrial Machine Gas Processing Equipment Analysis and Forecast
10.1 Introduction
10.2 North America Industrial Machine Gas Processing Equipment Market Size Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 North America Industrial Machine Gas Processing Equipment Market Size Forecast By Equipment Type
10.6.1 Air Separation Units
10.6.2 Cryogenic Centrifugal Pumps
10.6.3 Gas Dehydration Units
10.6.4 Continuous Mixers
10.6.5 Compressed Gas Cylinders
10.6.6 Recovery Units
10.6.7 Heat Exchangers
10.6.8 Others
10.7 Basis Point Share (BPS) Analysis By Equipment Type
10.8 Absolute $ Opportunity Assessment By Equipment Type
10.9 Market Attractiveness Analysis By Equipment Type
10.10 North America Industrial Machine Gas Processing Equipment Market Size Forecast By End-Use Industry
10.10.1 Oil & Gas
10.10.2 Chemical
10.10.3 Manufacturing
10.10.4 Aerospace & Defence
10.10.5 Power Generation
10.10.6 Water Treatment
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis By End-Use Industry
10.12 Absolute $ Opportunity Assessment By End-Use Industry
10.13 Market Attractiveness Analysis By End-Use Industry
10.14 North America Industrial Machine Gas Processing Equipment Market Size Forecast By Distribution Channel
10.14.1 Online
10.14.1.1 Company Website
10.14.1.2 Third-party Website
10.14.2 Offline
10.14.2.1 Direct Sale
10.14.2.2 Distributers
10.15 Basis Point Share (BPS) Analysis By Distribution Channel
10.16 Absolute $ Opportunity Assessment By Distribution Channel
10.17 Market Attractiveness Analysis By Distribution Channel
Chapter 11 Europe Industrial Machine Gas Processing Equipment Analysis and Forecast
11.1 Introduction
11.2 Europe Industrial Machine Gas Processing Equipment Market Size Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Europe Industrial Machine Gas Processing Equipment Market Size Forecast By Equipment Type
11.6.1 Air Separation Units
11.6.2 Cryogenic Centrifugal Pumps
11.6.3 Gas Dehydration Units
11.6.4 Continuous Mixers
11.6.5 Compressed Gas Cylinders
11.6.6 Recovery Units
11.6.7 Heat Exchangers
11.6.8 Others
11.7 Basis Point Share (BPS) Analysis By Equipment Type
11.8 Absolute $ Opportunity Assessment By Equipment Type
11.9 Market Attractiveness Analysis By Equipment Type
11.10 Europe Industrial Machine Gas Processing Equipment Market Size Forecast By End-Use Industry
11.10.1 Oil & Gas
11.10.2 Chemical
11.10.3 Manufacturing
11.10.4 Aerospace & Defence
11.10.5 Power Generation
11.10.6 Water Treatment
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis By End-Use Industry
11.12 Absolute $ Opportunity Assessment By End-Use Industry
11.13 Market Attractiveness Analysis By End-Use Industry
11.14 Europe Industrial Machine Gas Processing Equipment Market Size Forecast By Distribution Channel
11.14.1 Online
11.14.1.1 Company Website
11.14.1.2 Third-party Website
11.14.2 Offline
11.14.2.1 Direct Sale
11.14.2.2 Distributers
11.15 Basis Point Share (BPS) Analysis By Distribution Channel
11.16 Absolute $ Opportunity Assessment By Distribution Channel
11.17 Market Attractiveness Analysis By Distribution Channel
Chapter 12 Asia Pacific Industrial Machine Gas Processing Equipment Analysis and Forecast
12.1 Introduction
12.2 Asia Pacific Industrial Machine Gas Processing Equipment Market Size Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 South East Asia (SEA)
12.2.7 Rest of Asia Pacific (APAC)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Asia Pacific Industrial Machine Gas Processing Equipment Market Size Forecast By Equipment Type
12.6.1 Air Separation Units
12.6.2 Cryogenic Centrifugal Pumps
12.6.3 Gas Dehydration Units
12.6.4 Continuous Mixers
12.6.5 Compressed Gas Cylinders
12.6.6 Recovery Units
12.6.7 Heat Exchangers
12.6.8 Others
12.7 Basis Point Share (BPS) Analysis By Equipment Type
12.8 Absolute $ Opportunity Assessment By Equipment Type
12.9 Market Attractiveness Analysis By Equipment Type
12.10 Asia Pacific Industrial Machine Gas Processing Equipment Market Size Forecast By End-Use Industry
12.10.1 Oil & Gas
12.10.2 Chemical
12.10.3 Manufacturing
12.10.4 Aerospace & Defence
12.10.5 Power Generation
12.10.6 Water Treatment
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis By End-Use Industry
12.12 Absolute $ Opportunity Assessment By End-Use Industry
12.13 Market Attractiveness Analysis By End-Use Industry
12.14 Asia Pacific Industrial Machine Gas Processing Equipment Market Size Forecast By Distribution Channel
12.14.1 Online
12.14.1.1 Company Website
12.14.1.2 Third-party Website
12.14.2 Offline
12.14.2.1 Direct Sale
12.14.2.2 Distributers
12.15 Basis Point Share (BPS) Analysis By Distribution Channel
12.16 Absolute $ Opportunity Assessment By Distribution Channel
12.17 Market Attractiveness Analysis By Distribution Channel
Chapter 13 Latin America Industrial Machine Gas Processing Equipment Analysis and Forecast
13.1 Introduction
13.2 Latin America Industrial Machine Gas Processing Equipment Market Size Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America (LATAM)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Latin America Industrial Machine Gas Processing Equipment Market Size Forecast By Equipment Type
13.6.1 Air Separation Units
13.6.2 Cryogenic Centrifugal Pumps
13.6.3 Gas Dehydration Units
13.6.4 Continuous Mixers
13.6.5 Compressed Gas Cylinders
13.6.6 Recovery Units
13.6.7 Heat Exchangers
13.6.8 Others
13.7 Basis Point Share (BPS) Analysis By Equipment Type
13.8 Absolute $ Opportunity Assessment By Equipment Type
13.9 Market Attractiveness Analysis By Equipment Type
13.10 Latin America Industrial Machine Gas Processing Equipment Market Size Forecast By End-Use Industry
13.10.1 Oil & Gas
13.10.2 Chemical
13.10.3 Manufacturing
13.10.4 Aerospace & Defence
13.10.5 Power Generation
13.10.6 Water Treatment
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis By End-Use Industry
13.12 Absolute $ Opportunity Assessment By End-Use Industry
13.13 Market Attractiveness Analysis By End-Use Industry
13.14 Latin America Industrial Machine Gas Processing Equipment Market Size Forecast By Distribution Channel
13.14.1 Online
13.14.1.1 Company Website
13.14.1.2 Third-party Website
13.14.2 Offline
13.14.2.1 Direct Sale
13.14.2.2 Distributers
13.15 Basis Point Share (BPS) Analysis By Distribution Channel
13.16 Absolute $ Opportunity Assessment By Distribution Channel
13.17 Market Attractiveness Analysis By Distribution Channel
Chapter 14 Middle East & Africa (MEA) Industrial Machine Gas Processing Equipment Analysis and Forecast
14.1 Introduction
14.2 Middle East & Africa (MEA) Industrial Machine Gas Processing Equipment Market Size Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Middle East & Africa (MEA) Industrial Machine Gas Processing Equipment Market Size Forecast By Equipment Type
14.6.1 Air Separation Units
14.6.2 Cryogenic Centrifugal Pumps
14.6.3 Gas Dehydration Units
14.6.4 Continuous Mixers
14.6.5 Compressed Gas Cylinders
14.6.6 Recovery Units
14.6.7 Heat Exchangers
14.6.8 Others
14.7 Basis Point Share (BPS) Analysis By Equipment Type
14.8 Absolute $ Opportunity Assessment By Equipment Type
14.9 Market Attractiveness Analysis By Equipment Type
14.10 Middle East & Africa (MEA) Industrial Machine Gas Processing Equipment Market Size Forecast By End-Use Industry
14.10.1 Oil & Gas
14.10.2 Chemical
14.10.3 Manufacturing
14.10.4 Aerospace & Defence
14.10.5 Power Generation
14.10.6 Water Treatment
14.10.7 Others
14.11 Basis Point Share (BPS) Analysis By End-Use Industry
14.12 Absolute $ Opportunity Assessment By End-Use Industry
14.13 Market Attractiveness Analysis By End-Use Industry
14.14 Middle East & Africa (MEA) Industrial Machine Gas Processing Equipment Market Size Forecast By Distribution Channel
14.14.1 Online
14.14.1.1 Company Website
14.14.1.2 Third-party Website
14.14.2 Offline
14.14.2.1 Direct Sale
14.14.2.2 Distributers
14.15 Basis Point Share (BPS) Analysis By Distribution Channel
14.16 Absolute $ Opportunity Assessment By Distribution Channel
14.17 Market Attractiveness Analysis By Distribution Channel
Chapter 15 Competition Landscape
15.1 Industrial Machine Gas Processing Equipment Market: Competitive Dashboard
15.2 Global Industrial Machine Gas Processing Equipment Market: Market Share Analysis, 2022
15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
15.3.1 ABB
15.3.2 Air Liquide
15.3.3 Air Products and Chemicals, Inc.
15.3.4 ATB GROUP S.p.A.
15.3.5 Baker Hughes Company
15.3.6 Honeywell International Inc.
15.3.7 Linde plc
15.3.8 Messer
15.3.9 SLB
15.3.10 Taiyo Nippon Sanso