According to IMARC Group's latest research report, titled "Oil and Gas Separation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on the oil and gas separation market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global oil and gas separation market reached a value of US$ 13 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 16.6 Billion by 2027, exhibiting a CAGR of 4.23% during 2022-2027.
Oil and Gas Separation Market Outlook:
Oil and gas separation represents the process of removing natural gas and water from oil by using gravitational or centrifugal separation technologies to extract pure products suitable for market supply. It usually involves the usage of various types of products, such as two-phase separators, three-phase separators, scrubbers, etc. Oil and gas separation procedures aid in removing materials, such as entrained solid impurities, from the crude oil produced from the wells. These methods are extracted for processing and burning. Consequently, oil and gas separation solutions are extensively utilized in offshore and onshore drilling activities across countries.
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Oil and Gas Separation Market Growth:
The growing usage of standard oilfield equipment for improving extraction processes is among the key factors driving the oil and gas separation market. In line with this, the increasing number of exploratory activities for non-conventional and conventional energy resources is acting as another significant growth-inducing factor. Moreover, the launch of numerous favorable policies by government bodies across the globe aimed at promoting and exploring sustainable options for oil extraction to reduce harmful environmental impacts is further stimulating the market growth. Besides this, the escalating demand for gas-based power generation methods and the widespread adoption of separators for onsite treatment and pre-processing of fluids that are generally extracted from reserves before transferring the oil to the offsite processing facilities are also positively influencing the global market. Furthermore, the development of enhanced horizontal and directional drilling techniques by key market players is expected to propel the oil and gas separation market over the forecasted period.
Key Market Segmentation:
Competitive Landscape:
- Frames Energy Systems B.V.
- Honeywell International Inc.
- TechnipFMC plc
- ALFA LAVAL Corporate AB
- Halliburton Energy Services Inc.
- Schlumberger Limited
- ACS Manufacturing Inc.
- AMACS Process Tower Internals
- CECO Environmental Corporation
- GEA Group Aktiengesellschaft
Breakup by Technology Type:
- Gravitational Separation
- Centrifugal Separation
- Others
Breakup by Vessel Type:
- Horizontal
- Vertical
- Spherical
Breakup by Product Type:
- Two-Phase Separators
- Three-Phase Separators
- Scrubbers
- Others
Breakup by Application:
- Onshore
- Offshore
- Refinery
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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