PUBLISHER: The Business Research Company | PRODUCT CODE: 1668362
PUBLISHER: The Business Research Company | PRODUCT CODE: 1668362
A liquefied natural gas compressor is a compressor utilized in the liquefaction process of natural gas. Natural gas compressors mechanically increase gas pressure in stages until it reaches the required delivery threshold. The number of compressor stages depends on the initial pressure and the desired finishing pressure.
The primary design types of liquefied natural gas compressors include vertically-split barrels, horizontally-split barrels, and axial compressors. Axial compressors are smaller and somewhat more efficient compared to centrifugal compressors. They find applications in various settings such as low-pressure and medium-pressure applications. These compressors are utilized in various industries, including vehicles, electrical, industrial, residential, and others.
The liquefied natural gas compressor (LNG Compressor) market research report is one of a series of new reports from The Business Research Company that provides liquefied natural gas compressor (LNG Compressor) market statistics, including liquefied natural gas compressor (LNG Compressor) industry global market size, regional shares, competitors with a liquefied natural gas compressor (LNG Compressor) market share, detailed liquefied natural gas compressor (LNG Compressor) market segments, market trends, and opportunities, and any further data you may need to thrive in the liquefied natural gas compressor (LNG Compressor) industry. This liquefied natural gas compressor (LNG Compressor) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The liquefied natural gas compressor market size has grown strongly in recent years. It will grow from$4.25 billion in 2024 to $4.48 billion in 2025 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to global LNG demand growth, operational efficiency demands, regulatory and environmental compliance, global market penetration
The liquefied natural gas compressor market size is expected to see strong growth in the next few years. It will grow to $5.6 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to investments in LNG infrastructure, operational efficiency and cost reduction, market expansion in emerging economies, transition to cleaner energy sources, rising LNG demand and trade. Major trends in the forecast period include growing LNG demand and production, expansion of LNG infrastructure, energy transition and cleaner fuels adoption, global market expansion, focus on operational efficiency.
The rising production of natural gas from shale reserves is projected to boost the growth of the liquefied natural gas (LNG) compressor market in the future. Shale reserves are a type of sedimentary rock formation that can be tapped for oil and gas extraction. The increase in natural gas production is expanding the LNG compressor market, as these compressors play a crucial role in the liquefaction of natural gas, which is vital for transportation. In April 2024, the Energy Information Administration, a U.S. government agency, reported that in 2023, the electric power sector saw the most significant rise in natural gas consumption among U.S. economic sectors, increasing by 7% (2.2 Bcf/d), from 33.2 Bcf/d in 2022 to a record high of 35.4 Bcf/d. Thus, the growing production of natural gas from shale reserves is fueling the demand for LNG compressors.
The upward trajectory of industrialization is poised to fuel the growth of the LNG compressor market. Industrialization, characterized by economic and social transformation through widespread industrial methods adoption, contributes to increased energy demand. As manufacturing processes become more mechanized and energy-intensive, the demand for efficient energy compression and transportation systems, including LNG compressors, experiences a notable surge. For instance, statistics from the National Bureau of Statistics of China in September 2023 reported a 4.5% year-on-year rise in industrial production in August, reflecting a growing industrial sector's energy requirements. Hence, the ongoing trend of industrialization acts as a driving force behind the expansion of the LNG compressor market.
Technological innovation emerges as a prominent trend embraced by major companies striving to fortify their market positions. ConocoPhillips, a US-based oil and natural gas producer, introduced innovative technologies such as the Traditional OCP Configuration - OCP Pro and the Latest OCP Configuration - OCP Compass. The former enhances turndown capabilities and yearly availability while maintaining thermal efficiency across a broad operating range. On the other hand, the latter reduces overall installed costs by streamlining the liquefaction train's equipment count and size, simplifying modularization, and maintaining high efficiency and low greenhouse gas emissions. This focus on technological advancement reinforces companies' competitiveness in the LNG compressor market.
Leading companies in the LNG compressor market prioritize product solutions, such as FH LNG trucks, to solidify their market standing. FH LNG trucks, renowned for their potential to reduce greenhouse gas emissions and contribute to environmentally sustainable transportation, exemplify this strategic approach. Volvo Trucks, a Sweden-based manufacturer, deployed FH LNG trucks in an exclusive pilot program in collaboration with Linde Canada, an industrial gas and engineering company. This pilot program involves importing five Volvo FH LNG-powered trucks to Canada to assess their performance, CO2 emission reductions, and operational benefits. The deployment of these LNG-powered trucks showcases Volvo Trucks' commitment to environmentally friendly transportation solutions.
In October 2022, Enerflex Ltd., a Canada-based manufacturer specializing in LNG compressors and related gas production products, completed the acquisition of Exterran Corporation for an undisclosed amount. This strategic move positions Enerflex to capitalize on global macro trends, leveraging its robust global platform and diverse services to meet the growing demand for natural gas and energy security worldwide, irrespective of commodity cycles. Exterran Corporation, a US-based company engaged in natural gas processing, treatment, and compression products and services, aligns with Enerflex's strategic goals in the dynamic LNG compressor market.
Major companies operating in the liquefied natural gas compressor market include EagleBurgmann, General Electric Company, Siemens AG, Mitsubishi Heavy Industries Ltd., Elliott Group, Kobelco Compressors America Inc., IMW Industries Ltd., Sundyne, IHI Rotating Machinery Engineering Co Ltd., NEUMAN & ESSER GROUP, Atlas Copco AB, Burckhardt Compression AG, MOLGAS ENERGY SAU, Howden Group, Sulzer Ltd., Ariel Corporation, Bauer Compressor Inc., Ingersoll Rand Inc., HYDRAULIC MACHINES & SYSTEMS GROUP PLC. , Clean Energy Fuels Corp, Kobe Steel Ltd., Ebara Corporation, Hitachi Ltd., Gardner Denver Holdings Inc., Sullair LLC, Quincy Compressor LLC, Kaeser Kompressoren SE, Corken Inc., Baker Hughes Company, MAN Energy Solutions SE, Mitsui Seiki Kogyo Co Ltd., Rolls-Royce Holdings plc, Worthington Industries Inc.
North America was the largest region in the liquefied natural gas compressor market in 2024. The regions covered in the liquefied natural gas compressor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the liquefied natural gas compressor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The liquefied natural gas compressor market consists of sales of LNG centrifugal compressors, off-gas compressors, regeneration gas compressors, refrigerant compressors, boil-off gas compressors, and end flash gas compressors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Liquefied Natural Gas Compressor Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on liquefied natural gas compressor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for liquefied natural gas compressor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The liquefied natural gas compressor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.