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Global Oil and Gas Separation Market to Grow at 4.5% During 2019-2024, Impelled by Burgeoning Oil and Gas Industry

According to the latest report by IMARC Group, titled “Oil and Gas Separation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global oil and gas separation market experienced stable growth during 2011-2018. Oil and gas separation refers to the process of segregation of water and natural gas from oil. Comprising natural gas and water in specific quantities, oil in its crude form is passed through a separator that is utilized to extract the gas and direct it into a separation line. The fluid is then passed through a heating unit where the difference of density between oil and water aids in the separation of the two. Additionally, it also aids in the removal of materials such as entrained solid impurities from the crude oil produced from the wells. Apart from this, a separator can also be employed for simultaneous separation of three phases: gas, liquid hydrocarbon and liquid aqueous.

Global Oil and Gas Separation Market Trends:

The global market is primarily driven by significant growth in the oil and gas industry. Technological advancements in the industry have resulted in an increased uptake of standard oilfield equipment for improving the extraction rate. Along with this, the utilization of horizontal and directional drilling methods is also contributing to the market growth. A significant rise in the adoption of non-conventional exploratory methods, along with increasing production of shale gas and oil, are creating a positive outlook for the market. Furthermore, there is increasing utilization of separators for onsite treatment and pre-processing of fluids extracted from reserves before transferring the oil to the offsite processing facilities. This saves a considerable amount of time and offers the efficient transportation of fluids, thus contributing to the market growth. Growing environmental consciousness, along with stringent governmental regulations for exploring sustainable options of oil extraction, are some of the other factors driving the market further. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 4.5% during 2019-2024.

Market Summary:

  • On the basis of the technology type, the market has been divided into gravitational separation, centrifugal separation and others.
  • Based on the vessel type, the market has been categorized into horizontal, vertical and spherical.
  • On the basis of the product type, the market has been segregated into two-phase separators, three-phase separators, scrubbers and others.
  • Based on the application, the market has been classified into onshore, offshore, refinery and others.
  • On the geographical front, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been analyzed, with the detailed profiles of the key players operating in the market. Some of these include 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, and GEA Group Aktiengesellschaft.

 

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