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Natural Gas Compressors, Natural Gas Engines, Gas Turbines, Centrifugal Gas Compressors Market in Asia, Middle East and Africa expected to reach US$ 18,575.1 Million by 2023: Transparency Market Research

Albany - NY, Aug. 24, 2015 (GLOBE NEWSWIRE) -- According to this report, the Asia and Middle East and Africa (MEA) natural gas engines market in was valued at US$ 283.6 Mn in 2013 and is expected to reach US$ 2,137.7 Mn by 2022, growing at a CAGR of 25.2% from 2015 to 2022. In terms of volume, in 2013, the natural gas engines market witnessed shipments of 23,893 units. Kazakhstan was the largest revenue contributor in 2013, and was valued at US$ 27.7 Mn. Increasing number of natural gas vehicles in Kazakhstan is fostering the market growth of natural gas engines. The growth is further propelled by growth in the gas industry which uses natural gas fired reciprocating engines at pipeline compressor and storage stations and at gas processing plants. The market for gas turbines was valued at 6,658.0 Mn in 2013 and is expected to grow with a CAGR of 8.9% during the forecast period: 2015-2022.

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The growth is mainly driven by its deployment at increasing number of peaking power plants, co-generation plants and combined cycle plants. Algeria was one of the largest contributor to the market revenue for gas turbines in Asia and MEA. However, Algeria and Nigeria are expected to be the fastest growing market for gas turbines in terms of revenue as well as unit shipments during the forecast period. The growth in this region would be primarily driven by the favorable government initiatives that aim at increasing natural gas production capacity and consumption as well. The government of Nigeria intends to triple the natural gas production capacity of the country by 2020 to help meet the energy demands of West African nations, which in turn is anticipated to be prime factor behind the growth of gas turbines in Nigeria.

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Expanding natural gas exploration activities in Asia and MEA to boost natural gas production is expected to be the principal factor behind the growth of gas equipment market including natural gas compressors, natural gas engines, gas turbines and centrifugal gas compressors. Increasing usage of natural gas in oil and gas industry and for power generation has fueled its demand across the world. Due to this, the country with large natural reserves are expected to expand their natural gas production and the distribution and transportation capabilities. This in turn is anticipated to drive the market for natural gas compressor and centrifugal gas compressors in the foreseeable future. The market for compressors has witnessed consolidation with GE Oil & Gas acquiring reciprocating compressor product line from Cameron International Corporation in 2014 and Ingersoll Rand purchasing centrifugal compressor business from the Cameron International Corporation in August 2014. Moreover, with growing focus towards green sources of energy to curb the emission of harmful by products, the countries across the world are expected to look forward to natural gas as a potential alternative fuel to oil and coal. Therefore, natural gas industry is expected to see growth traction in the near future, which in turn is anticipated to contribute to the growth of natural gas compressor, gas turbines, natural gas engine and centrifugal gas compressors market during the forecast period.

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As the market witnesses few key players, the manufacturers of gas equipment are anticipated to have high bargaining power over their customers. Moreover, increased demand of natural gas in last few years has observed proliferation in the production of natural gas, which is likely to continue during the forecast period. This is analysed to affect the gas equipment market as the inventory of the manufactures is expected to exhaust, thus causing slight increase in the price (of the equipment) during the forecast period.The report analyses natural gas compressors, natural gas engines, gas turbines, centrifugal gas compressors market in Asia and MEA regions and provides estimates in terms of revenue (US$ Mn) and volume shipment (Units) from 2012 to 2022.

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The Market has been segmented as follows:

Market Segmentation:

Natural Gas Compressors Market, By Region

  • Asia
  • Central Asia
  • Kazakhstan
  • Turkmenistan
  • Azerbaijan
  • Rest of Central Asia

Rest of Asia (South, South-East, South-West Asia)

  • Pakistan
  • Myanmar
  • Bangladesh
  • Thailand
  • Malaysia
  • Indonesia
  • Vietnam
  • Brunei
  • Papua New Guinea (PNG)
  • Rest of South, South-East and South-West Asia

Middle-East

  • United Arab Emirates (UAE)
  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Iraq
  • Oman

Rest of Middle-East

  • Africa
  • Nigeria
  • Ghana
  • Algeria
  • Mozambique
  • Angola
  • Rest of Africa

Natural Gas Engines Market, By Region

  • Asia
  • Central Asia
  • Kazakhstan
  • Turkmenistan
  • Azerbaijan
  • Rest of Central Asia

Rest of Asia (South, South-East, South-West Asia)

  • Pakistan
  • Myanmar
  • Bangladesh
  • Thailand
  • Malaysia
  • Indonesia
  • Vietnam
  • Brunei
  • Papua New Guinea (PNG)
  • Rest of South, South-East and South-West Asia

Middle-East

  • United Arab Emirates (UAE)
  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Iraq
  • Oman
  • Rest of Middle-East

Africa

  • Nigeria
  • Ghana
  • Algeria
  • Mozambique
  • Angola
  • Rest of Africa

Gas Turbines Market, By Region

  • Asia
  • Central Asia
  • Kazakhstan
  • Turkmenistan
  • Azerbaijan
  • Rest of Central Asia

Rest of Asia (South, South-East, South-West Asia)

  • Pakistan
  • Myanmar
  • Bangladesh
  • Thailand
  • Malaysia
  • Indonesia
  • Vietnam
  • Brunei
  • Papua New Guinea (PNG)
  • Rest of South, South-East and South-West Asia

Middle-East

United Arab Emirates (UAE)

  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Iraq
  • Oman

Rest of Middle-East

  • Africa
  • Nigeria
  • Ghana
  • Algeria
  • Mozambique
  • Angola
  • Rest of Africa

Centrifugal Gas Compressors Market, By Region

  • Asia
  • Central Asia
  • Kazakhstan
  • Turkmenistan
  • Azerbaijan
  • Rest of Central Asia

Rest of Asia (South, South-East, South-West Asia)

  • Pakistan
  • Myanmar
  • Bangladesh
  • Thailand
  • Malaysia
  • Indonesia
  • Vietnam
  • Brunei
  • Papua New Guinea (PNG)
  • Rest of South, South-East and South-West Asia

Middle-East

  • United Arab Emirates (UAE)
  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Iraq
  • Oman
  • Rest of Middle-East

Africa

  • Nigeria
  • Ghana
  • Algeria
  • Mozambique
  • Angola
  • Rest of Africa

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Source:Transparency Market Research