Oil And Gas Separation Equipment Market Size, Share & Trends Analysis Report By Product (Degasser, Scrubber, Heat Treaters, Deliquilizer), By Region, And Segment Forecasts, 2023 - 2030

Oil And Gas Separation Equipment Market Size, Share & Trends Analysis Report By Product (Degasser, Scrubber, Heat Treaters, Deliquilizer), By Region, And Segment Forecasts, 2023 - 2030

Oil And Gas Separation Equipment Market Growth & Trends

The global oil and gas separation equipment market size is expected to reach USD 10.2 billion by 2030, registering a CAGR of 3.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing exploration and production, coupled with stringent regulations regarding pipeline specific processed fluids are expected to drive industry demand. Installation of several on-site and off-site processing facilities, particularly in Canada, Mexico, Russia and Indonesia has seen a surge in separation equipment demand in recent times. Technology innovation to manage complex processing setbacks adhering to international standards coupled with all the aforementioned factors are expected to drive global oil & gas separation equipment industry.

Three-phase separators emerged as the highest grossing product segment and accounted for 40.8% of total revenue in 2014. The segment is also anticipated to witness the fastest growth over the next seven years owing to added advantages in terms of optimum pressure and liquid sealing. Large number of existing as well as upcoming installations of this equipment coupled with multi-applicability of these separators in offshore, onshore, refineries and gas processing facilities may be attributed for their high demand.

Oil And Gas Separation Equipment Market Report Highlights

• Three-phase separator was the largest product segment and accounted for 42.2% of the total market in 2022 and is expected to grow at the fastest CAGR of 3.7% over the forecast period.
• Scrubber is expected to witness rapid growth over the forecast period. Stringent government norms for maintaining flare gas quality and maximum suspended particulate matter content in pipeline fluids is estimated to positively impact market expansion over the next few years.
• North America dominated the global oil & gas separation equipment market with a revenue share of 36.9% in 2022. North America oil & gas industry is characterized by heavy capitalization of assets in both onshore and offshore reserves. Rising shale plays and coal bed methane production in the region is anticipated to bolster equipment demand over the forecast period.
• Asia Pacific is anticipated to witness growth in the coming years owing to rising E&P activities in countries such as China, Indonesia, Taiwan, Malaysia, Vietnam and India. Increasing government initiatives to exploit hydrocarbon reserves sustainably by providing financial aid in terms of FDI and tax benefits particularly in China and India is anticipated to drive market penetration in these regions over the next few years.

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