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Increased natural gas output from shale sources is likely to promote innovation in liquefied natural gas compressor manufacture, hence propelling the market over the forecast period.

The global liquefied natural gas compressor market is expected to grow from $3.80 billion in 2022 to $4.04 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. he global liquefied natural gas compressor market size is expected to reach $4.97 billion in 2027 at a CAGR of 5.3%.

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Global Liquefied Natural Gas Compressor Market Segments Include:

• By Design: Vertically-Split Barrel, Horizontally-Split Barrel, Axial Compressors
• By Application: Low Pressure Application, Medium Pressure Application
• By End User: Vehicles, Electrical, Industrial, Residential, Other End Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global liquefied natural gas compressor market in 2021.

Major Market Players in the liquefied natural gas compressor market include EagleBurgmann, General Electric, Siemens AG, and Mitsubishi Heavy Industries. Ltd., Elliott Group, Kobelco Compressors America Inc., IMW Industries Ltd.

The primary trend gaining traction in the liquefied natural gas compressor market is technological innovation. Major players in the liquefied natural gas compressor market are focusing on developing innovative technologies to increase their market position. ConocoPhillips, a US-based oil and natural gas producer and owner of exploratory leases, for example, will deploy The Traditional OCP Configuration – OCP Pro Technology in November 2020. The Traditional OCP Configuration – OCP Pro technology improves compressor train turndown capabilities and yearly availability while maintaining acceptable thermal efficiency across a wide operating range. The other technology is the latest OCP Configuration – OCP Compass technology minimises overall installed cost by reducing the number and size of liquefaction train equipment, as well as significantly simplifying modularization. OCP Compass facilities will offer the same industry-leading efficiency and low greenhouse gas emissions as OCP Pro facilities.

The Liquefied Natural Gas Compressor Global Market Report 2023  provides a liquefied natural gas compressor market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The liquefied natural gas compressor market forecast analyzes liquefied natural gas compressor market size, liquefied natural gas compressor market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The compressor utilised in the liquefaction of natural gas is referred to as a liquefied natural gas compressor. Natural gas compressors increase gas pressure mechanically in stages (or steps) until it reaches the appropriate delivery threshold. The number of stages in a compressor is determined by the initial pressure and the desired finishing pressure.

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