Global Oil and Gas Separation Market to Grow at 3.5% During 2024-2032, Impelled by Burgeoning Oil and Gas Industry

December 04, 2019 | Chemical & Materials

According to the latest report by IMARC Group, titled “Oil and Gas Separation Market Report by Technology Type (Gravitational Separation, Centrifugal Separation, and Others), Vessel Type (Horizontal, Vertical, Spherical), Product Type (Two-Phase Separators, Three-Phase Separators, Scrubbers, and Others), Application (Onshore, Offshore, Refinery, and Others), and Region 2024-2032,” the global oil and gas separation market reached a value of US$ 14.2 Billion in 2023. 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 3.5% during 2024-2032.

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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Technology Type, Vessel Type, Product Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered 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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Oil and Gas Separation Market to Grow at 3.5% During 2024-2032, Impelled by Burgeoning Oil and Gas Industry
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