Liquefied Natural Gas Compressor Market Analysis Size, Share, Growth, Trends and Forecasts, 2015 To 2022: Grand View Research

Global increase in natural gas demand coupled with growing energy consumption in countries such as U.S., Canada and China is expected drive liquefied natural gas (LNG) demand and in turn augment LNG compressor market growth over the next seven years. Increasing LNG trade and manufacturing technology development is anticipated to complement LNG compressor market growth over the forecast period. Growing LNG production from U.S. shale gas reserves and offshore African locations has resulted in increased LNG trade thus enhancing supply equipments market growth associated with LNG. Capacity expansion in ongoing plants and new projects specifically in Australia and U.S. is expected to propel LNG compressor market growth over the forecast period. Increasing LNG terminals and stringent governmental norms have resulted in increased LNG compressor demand for superior liquefaction. High raw material cost and complex fabrication is slated to obstruct LNG compressor market growth and pose challenge
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