Reformer Unit Market Size (2024 - 2029)

The reformer unit market is anticipated to experience significant growth over the forecast period, driven by rising investments in downstream activities to meet the demand for higher quality petroleum products. Despite challenges such as operational difficulties at high capacities leading to increased downtime, the market is poised for expansion due to stringent government regulations aimed at controlling vehicle emissions. The Asia-Pacific region is expected to lead the market, supported by a surge in oil refinery projects in countries like India and China.

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Market Size of Reformer Unit Industry

Reformer Unit Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 9.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Reformer Unit Market Major Players

*Disclaimer: Major Players sorted in no particular order

Reformer Unit Market Analysis

Reformer Unit Market is projected to register a CAGR of over 9% during the forecast period.

COVID-19 negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels.

  • Over the medium term, the increasing investments in the expansion of downstream activities to meet the increasing demand for higher quality petroleum products, thus increasing the demand for a reformer unit market.
  • On the other hand, the difficulty in operations at extremely high operations leads to increased shutdown or breakdown times due to equipment malfunction, which is expected to hinder market growth.
  • Nevertheless, the increasing government regulations on controlling harmful emissions from vehicles are expected to create huge opportunities for the reforming unit market.
  • Asia-Pacific is expected to dominate the market during the forecasted period due to the increasing oil refinery projects in the region, especially in countries like India and China.

Reformer Unit Industry Segmentation

The reformer unit is the equipment that performs the Process of reforming inside it. The Process is utilized to convert the low-octane naphtha derived from the distillation of crude oil into high-value gasoline products containing high-octane naphtha. This process also removed various impurities present in the oil, such as nitrogen, sulfur, and other contaminants. Additionally, this process's by-product is mainly hydrogen, which can be utilized in the refinery for other processes such as hydrocracking and hydrotreating. The other products derived from this Process are light gases and high-quality gasoline called reformates.

The Reformer Unit Market is segmented by application type, Process, and geography. By application type, the market is segmented into the oil industry, chemical industry, and others. By Process, the market is segmented into thermal reforming and catalytic reforming. The report also covers the market size and forecasts for the reformer unit market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).

Application
Oil Industry
Chemical Industry
Others
Process
Thermal Reforming
Catalytic Reforming
Geography [Market Size and Demand Forecast till 2028 (for regions only)]
North America
United States
Canada
Rest of North America
Europe
Germany
France
United Kingdom
Russia
Rest of Europe
Asia-Pacific
China
India
Australia
Malaysia
Rest of Asia-Pacific
Middle East and Africa
Saudi Arabia
UAE
Nigeria
Rest of Middle East and Africa
South America
Brazil
Argentina
Columbia
Rest of South America
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Reformer Unit Market Size Summary

The reformer unit market is poised for significant growth, driven by increasing investments in downstream activities to meet the rising demand for high-quality petroleum products. This demand is further fueled by the continuous rise in gasoline and diesel consumption, which are essential for various sectors, including transportation and heavy machinery. The market is also benefiting from stringent government regulations aimed at reducing harmful emissions, creating substantial opportunities for reformer units that produce cleaner, high-octane fuels. Despite challenges such as operational difficulties at high temperatures leading to potential equipment malfunctions, the market is expected to thrive, particularly in the Asia-Pacific region, where oil refinery projects are on the rise, especially in countries like India and China.

The Asia-Pacific region is anticipated to dominate the reformer unit market due to its expanding oil consumption and significant investments in petrochemical projects. The region's focus on increasing refining capacities and transitioning to cleaner fuels, supported by government policies, further bolsters its market position. Key players in the moderately fragmented global market include Honeywell International, Wood plc, BP plc, Larsen and Toubro Limited, and Siemens AG. Recent advancements, such as Raven SR Inc.'s successful trial of converting methane to transportation-grade hydrogen and TechnipEnergies' refinery capacity expansion in Senegal, highlight ongoing innovations and developments within the industry. These factors collectively underscore the market's robust growth trajectory and the strategic importance of reformer units in meeting future energy demands.

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Reformer Unit Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Oil Industry

      2. 2.1.2 Chemical Industry

      3. 2.1.3 Others

    2. 2.2 Process

      1. 2.2.1 Thermal Reforming

      2. 2.2.2 Catalytic Reforming

    3. 2.3 Geography [Market Size and Demand Forecast till 2028 (for regions only)]

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 France

        3. 2.3.2.3 United Kingdom

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Australia

        4. 2.3.3.4 Malaysia

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 Saudi Arabia

        2. 2.3.4.2 UAE

        3. 2.3.4.3 Nigeria

        4. 2.3.4.4 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Columbia

        4. 2.3.5.4 Rest of South America

Reformer Unit Market Size FAQs

The Reformer Unit Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)

Honeywell International, Wood plc, BP plc, Larsen and Toubro Limited and Siemens AG are the major companies operating in the Reformer Unit Market.

Reformer Unit Report Snapshots

Reformer Unit Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)