The new report by Expert Market Research titled, ‘Global Gas Processing Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global gas processing market, assessing the market based on its segments like dry gas, NGL, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 5.2%
Gas Processing Industry Definition and Major Segments
Gas Processing is basically treatment of gas to get its different hydrocarbon components and remove the impurities from unrefined natural gas that is obtained from oil and gas wells. It offers value-added products like dry gas and NGL.
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Based on products, the gas processing market can be segmented into:
The EMR report looks into the regional gas processing markets like:
the Asia Pacific
Middle East and Africa
Gas Processing Market Trends
Natural gas is seeing a huge increase in demand due to its abundance, variety, and decreased carbon dioxide emissions, which is boosting the global gas processing business. In addition, the development of various novel procedures in the gas processing business will increase the technical and economic viability of the industry’s operations. By reducing energy usage, these solutions will help the gas processing industry save costs and achieve significant cost reductions.
Because of the growing use of natural gas and its increased adoption in fertiliser plants, power generation units, petrochemicals, transportation, and other sectors, particularly in developing countries like China and India, the Asia Pacific region is expected to lead the global gas processing market.
Key Market Players
The major players in the market are BP Plc, Exxon Mobil Corporation (NYSE: XOM), PetroChina Company Limited, Public Joint Stock Company Gazprom, Royal Dutch Shell Plc and Saudi Arabian Oil Co. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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