2021-03-12 11:15:00
GLOBAL COMPRESSOR MARKET 2021
The oil and gas industry has been hit hard by the COVID-19 pandemic. However, in comparison to other energy sectors, such as exploration and production, which are more directly affected by volatility and oil and gas prices, the pipeline business is expected to be relatively stable. People return to more normal activities and refined product demand recovers. According to several analysts, the midstream sector situation is to improve gradually. Therefore, it is anticipated that the construction activities of pipelines will increase worldwide. It will lead to the demand growth of compressors within the midstream sector.
The present-day compressor market is defined by some other positive trends. Among them, the following can be outlined:
- demand for the natural gas pipelines network that increases due to attempts to reduce a negative impact on the environment;
- a quest for energy security in many regions such as Asia-Pacific.
The global demand for natural gas is expected to increase by 1.6%, y-o-y, for the next five years, with the consumption reaching almost 4,200 billion cubic meters (bcm) by 2025, up from 3,800 bcm in 2018.
Thus, according to data, the total length of pipelines worldwide amounts to 74,828 miles with 38,476 miles being under construction. The USA remains to be a leader in the field. However, emerging markets such as India, China, Brazil, and Mexico have significantly increased their electricity demand and now have to develop their own pipeline construction projects, for example, the largest gas transmission system in Central Asia – Central Asia-China Gas Pipeline (CAGP) or the Villa de Reyes-Aguascaliente-Guadalajara, a 232-mile (374-km) gas pipeline, with a capacity of 886 MMcf/d (25 Bcm/d).
Undoubtedly, in the near future, gas pipeline construction will only increase, which will bring new opportunities for the growth and development of the compressor market.
To learn more about the global compressor market, download a full version of the Compressor Market Research brought to you by Vostock Capital, the distinguished British consultancy and B2B event agency. The research presents the following:
- Trends in the global compressor market
- Forecast for the global compressor market
- Global pipeline construction outlook 2021 by region.
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Earlier:
2021, March, 3, 12:45:00
GLOBAL CO2 EMISSIONS UPDOWN
After hitting a low in April, global emissions rebounded strongly and rose above 2019 levels in December.
2021, March, 1, 10:50:00
GLOBAL GAS DEMAND WILL UP 50%
Natural gas will overtake coal in 2025 and become the largest global primary energy source by 2047, with oil plateauing around 2040 and then beginning its irreversible decline
2021, February, 19, 12:50:00
GLOBAL HYDROGEN INVESTMENT $300 BLN
There are now 228 large-scale projects for a combined $300 billion of proposed investment through to 2030
2021, January, 27, 14:10:00
GLOBAL ECONOMY WILL UP 5.5%
The global economy is projected to grow 5.5 percent in 2021 and 4.2 percent in 2022.
2021, January, 27, 14:05:00
GLOBAL GAS DEMAND WILL UP BY 2.8%
Global natural gas demand is projected to increase by 2.8% in 2021 (about 110 bcm), thus reaching slightly above its 2019 level.
2021, January, 22, 11:05:00
GLOBAL HYDROGEN DEMAND UPDOWN
Global hydrogen demand is currently dominated by the refining and ammonia production industries that primarily use natural gas as a feedstock.
2021, January, 8, 15:45:00
GLOBAL ECONOMY WILL UP 4%
Global economic output is expected to expand 4 percent in 2021 but still remain more than 5 percent below its pre-pandemic trend.
