“The global market for oil and gas separation is expected to grow at a CAGR of around 6%”, says Visiongain
08 January 2020
The Oil and Gas Separators Market Report 2020-2030: Forecasts By Type (Horizontal Separators, Spherical Separators, Vertical Separators), by Product (Two phase separator, Three phase separator, Degasser, Scrubber, Deliqulizer, Heat treaters, Others), By Application (Onshore, Offshore, Refineries), by Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), and analysis of leading companies operating in this industry.
In 2020-2030, the global market for oil and gas separation is expected to grow at a CAGR of around 6 percent. Separation of oil and gas is the process of removing petroleum from liquid and natural gas. Oil is usually a mixture of small amounts of water and natural gas as derived in its natural form. The fluid is first passed through a system that separates the fuel and guides it into a separation line in order to obtain pure oil or natural gas appropriate for market supply. The resulting oil and water combination, which includes a tiny amount of natural gas, is transferred through a heating unit where the fuel is isolated from the liquid due to the difference in thickness.
One of the key factors boosting market growth is the booming oil and gas sector. Significant economic advances in both developed and emerging nations, coupled with rising disposable incomes, have resulted in increasing global demand for energy.
There has been an increase in the number of exploratory projects of traditional and non-conventional energy resources to satisfy this rapidly escalating need. Increasing shale gas and oil production also contributes to the demand for oil and gas separators. Additionally, multi-country governments are exploring sustainable oil extraction options that are expected to drive market growth significantly.
In 2018, the global market for oil & gas separation equipment was USD 9 billion. Increasing petroleum industries, especially in the Middle East & Africa and North America, are expected to drive the demand over the forecast period. Growing E&P operations in the U.S., Indonesia, Venezuela, China, Nigeria, and Canada have been a major contributing factor to increased demands for separation techniques over the past few years.
Before sending to offsite processing facilities and refineries for effective transportation, most of the fluids extracted from these reserves require on-site treatment and pre-processing. Increasing requirements for on-site processing along with large unexplored hydrocarbon reserves in regions such as North Sea and Gulf of Mexico are expected to drive processing industry, which in turn is expected to demand fuel equipment over the forecast period.
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