Global Modular Gas Processing Plant Market Insights Forecasts to 2033

• The Global Modular Gas Processing Plant Market Size was Valued at USD 1.34 Billion in 2023
• The Market Size is Growing at a CAGR of 6.73% from 2023 to 2033
• The Worldwide Modular Gas Processing Plant Market Size is Expected to Reach USD 2.57 Billion by 2033
• Asia-Pacific is Expected to Grow the fastest during the forecast period.

The Modular Gas Processing Plant Market Size is Anticipated to Exceed USD 2.57 Billion by 2033, Growing at a CAGR of 6.73% from 2023 to 2033. To meet sustainability targets and lower greenhouse gas emissions, there is increasing interest in using modular gas processing systems to produce renewable gases like hydrogen and biogas.

MODULAR GAS PROCESSING PLANT MARKET REPORT OVERVIEW

An establishment that uses prefabricated modules that can be produced off-site and initiated on the spot to process natural gas is known as a modular gas processing plant. Modular gas plants convert associated gas flaring from an associated oil well or gas well into valuable liquid fuel that can be used both commercially to provide power and heat appliances.

The market for modular gas processing plants is expanding due to rapid industrialization. This is because fact that natural gas has a lower environmental impact than petroleum-based fuels like diesel and gasoline. Right now, there is a growing need for modular gas processing facilities. Since these plants can be constructed in remote areas with low resource availability, this trend is anticipated to increase soon. Thus, businesses concentrate on offering modular gas processing systems that are simple to assemble and reasonably priced.

The market is expanding as a result of rising natural gas demand as a cleaner energy source and technological advancements that increase the dependability and efficiency of modular plants. Because of their rapid deployment and portability, modular plants are perfect for isolated or dynamic areas where traditional building can be challenging. Natural gas is essential as the globe moves toward cleaner energy sources, and modular plants offer a scalable and effective way to process it.

The national energy technology laboratory worked on a project name as modular processing flare gas for carbon nanoproducts, this research aims to create a low-cost, easily scalable technology for decarbonizing natural gas (NG) into nanoparticles and nanofibers (CNFs) that might be added to concrete as a structural additive. The production of carbon nanoproducts by chemical vapor deposition and the effect of these fibres on the strength of the concrete would be the main topics of the research.

Report Coverage

This research report categorizes the market for the modular gas processing plant market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the modular gas processing plant market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the modular gas processing plant market.

DRIVING FACTORS:

"Market growth is expected to be driven by a growing need for clean energy"

The development of modular gas processing technology requires the implementation of laws and programs in light of efforts to reduce greenhouse gas emissions and rely less on fossil fuels. Natural gas is regarded as a more environmentally friendly fuel than conventional petroleum fuels like diesel and gasoline. The need for MGP plants and natural gas is growing as countries turn to renewable energy sources to fight climate change and cut emissions. To address the increasing demand for natural gas, modular gas processing plants are essential.

RESTRAINING FACTORS

“The rising cost of investment could restrict the growth of the market.”

High upfront costs for personnel, infrastructure, and equipment can keep smaller businesses and new entrants out of the market, thus the growth of the market would be decreased.

Market Segmentation

The global modular gas processing plant market share is classified into type and application.

Which segment is expected to hold the largest share of the global modular gas processing plant market during the forecast period?

Liquefied natural gas is expected to hold the largest share of the global modular gas processing plant market during the forecast period.

Based on type, the global modular gas processing plant market is classified into liquefied natural gas, liquefied petroleum gas, compressed natural gas, and others. Due to rising demand for it in both industrial and residential applications, liquefied natural gas currently dominates the market. Because it burns cleaner and is versatile enough to be used in many different sectors of the economy, liquefied natural gas is becoming more and more in demand as the main fuel source. The majority of LPG used in the United States is made in the country. It doesn't deteriorate performance and is typically less expensive than gasoline. Certain air pollutants and greenhouse gases can be released by LPG-fueled vehicles in smaller quantities, depending on the kind, calibration, and driving cycle of the vehicle.

Why onshore location is widely applied for the increased demand of modular gas processing plant market?

“There are several reasons for the increase in investment and market dominance in onshore sites, one of which is the expansion of natural gas pipelines”

Based on the application, the global modular gas processing plant market is classified into onshore and offshore. The market is expected to be dominated by growing investment in onshore locations. Growing investment and market domination in onshore locations can be attributed to several causes, including the proliferation of natural gas pipelines, the rise in onshore exploration and production operations, and the availability of significant natural gas reserves. To meet the demand for gas in the onshore market, floating storage and regasification units, or FSRUs, are being employed more and more as flexible and efficient methods of receiving and processing LNG imports. Because of the restricted space and weight capacity on offshore platforms and floating production units, the offshore platform has had the quickest rate of market expansion.

Regional Segment Analysis of the Global Modular Gas Processing Plant Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Which region is expected to hold the largest share of the modular gas processing plant market over the forecast period?

“North America region is holding the highest share of the global modular gas processing plant market during the forecast period”

North America dominates the market and accounts for the majority of installed modular gas processing plants' market share. It has vast natural gas reserves, particularly in the United States. This abundance of natural gas creates a strong demand for modular gas processing plants to extract and process the gas for various applications efficiently. The construction of LNG export facilities, including Dominion Energy's Cove Point and Venture Global LNG's Calcasieu Pass, allows the United States to meet the growing demand for cleaner energy sources worldwide while utilizing its natural gas resources.

Why Asia-Pacific is growing at the fastest CAGR in the global modular gas processing plant market?

The market for modular gas processing plants is growing at the fastest rate in Asia-Pacific. The area has seen a sharp rise in urbanization and industrialization, which has raised energy consumption significantly. Significant investments in LNG and LPG projects as well as other natural gas infrastructure have been undertaken by China, India, Japan, and South Korea. To enable the integration of clean fuel sources and increase natural gas demand, there is a rising focus on enhancing gas plant reliability, stability, and resilience.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global modular gas processing plant market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Gas Processing Equipment
• JFE Engineering
• The Linda Group
• JGC Holding
• Chiyoda Corporation
• Black and Veatch
• Lukoil Oil Company
• GazSurf Engineering company
• Honeywell International Inc.
• Pioneer Energy
• lack and Veatch
• Others

Key Market Developments

• In April 2024, In Shawnee, Kansas, Arechea Energy has opened its largest renewable natural gas facility to date, featuring a unique Archea Modular Design. Approximately 38,000 homes can be heated annually by the facility, which is near to a sizable landfill gas. It can transform 9600 standard cubic meters of landfill gas per minute into renewable energy sources.

• In April 2023, Strikes Energy has finished the preliminary engineering work for an economical, modular, and expandable gas plant using Techship energies. When the South Erregulla Gas Field is put into service, this facility will be situated near the company's mid-west low carbon manufacturing sector.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global modular gas processing plant market based on the below-mentioned segments: 

Global Modular Gas Processing Plant Market, By Type

• Liquefied Natural Gas
• Liquefied Petroleum Gas
• Compressed Natural Gas
• Others

Global Modular Gas Processing Plant Market, By Application

• Onshore
• Offshore

Global Modular Gas Processing Plant Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa