The market value of glycol dehydration units is expected to increase at a healthy pace over the forecast period of 2018 – 2028, according to a new report from Persistence Market Research.
Based on the glycol type segment, the triethylene glycol segment is expected to account for a large share in the market, owing to the advantages associated with its utilisation.
The value of the global glycol dehydration unit market exceeded US$140 million in 2018, witnessing 3.6% year-on-year growth over 2017. North America, led by the US, is anticipated to account for the maximum number of glycol dehydration units installed, while Europe is expected to account for a prominent share in the global glycol dehydration unit market over the forecast years.
The rising demand for natural gas from various end-use industries across the globe is expected to be one of the key factors assisting the demand for glycol dehydration units. The growing adoption of gas instead of oil in multiple industries across the globe has become a trend. This can be attributed to the less harmful nature of gas to the environment as compared to oil. Hence, the development and establishment of new gas fields will remain the key agenda for various economies. With an increase in gas production activities, the demand for gas treatment technologies and equipment such as glycol dehydration units is also expected to grow.
However, the availability of alternative technologies pertaining to natural gas dehydration is one of the key challenging factors in the global glycol dehydration unit market. Some of the players in the gas dehydration technologies market are focusing on the development of alternative technologies, such as the membrane dehydration technique. For instance, Air Liquide’s PEEK-SepTM membrane technology has the capability to dehydrate natural gas at a low pressure.
Technological advancements in glycol dehydration unit production technology combined with advancements in various end uses are expected to create opportunities for companies to serve multiple clients with better solutions. Long-term contracts and acquisition activities are found to be the key trends in the global glycol dehydration unit market.
As per market insights, among the glycol type segments, the triethylene glycol segment is expected to remain a prominent segment in the global dehydration unit market during the forecast period, owing to the various advantages associated with its utilisation, such as it can be easily regenerated to a higher degree of purity, lower operating costs and vapor losses, etc.
Globally, Europe is anticipated to account for a prominent share in the global glycol dehydration unit market throughout the forecast years. The market in Africa is anticipated to grow at a significant CAGR in the global glycol dehydration unit market, owing to upcoming investments in countries such as Nigeria, Egypt, etc.
Some of the market participants included in the report on the glycol dehydration unit market are Exterran Corp., Schlumberger Ltd, Enerflex Ltd, Pietro Fiorentini S.p.a., QB Johnson Manufacturing Inc., Frames Group, Axens, KW International, Propak Systems Ltd, Alco Group, Croft Production Systems Inc., Nihon Seiki Co. Ltd, ALLIA France, etc.
Globally, the glycol dehydration unit market is found to be consolidated, owing to the presence of a small number of manufacturers across the globe. The top five players in the market across the globe are expected to account for more than 70% of the overall glycol dehydration unit market. Long-term supply contracts and acquisition activities are found to be the key strategies adopted by glycol dehydration unit manufacturers across the globe.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/02072019/glycol-dehydration-unit-market-to-increase-in-value/