Increasing oil & gas production is expected to drive the global market over the forecast period. Increasing disposable income and economic growth has led to the rise in energy demand globally, especially in non-OECD Asia Pacific and Latin America. Additionally, increased supply sufficiency coupled with energy sustainability as well as security has further escalated the energy demands globally. Increasing E&P in offshore and unconventional reservoirs along with increasing water injection applications in tight reserves has led to high levels of water production in oilfields. Favorable regulations such as Baltic Sea conventions, Barcelona Sea conventions, Kuwait conventions, Administrator of Oslo and Paris (OSPARCOM) and U.S regulations for produced water are expected to drive the global market in near future. Regulatory bodies such as Environment Agency, UK and Canada’s Oil Sands Innovation Alliance (COSIA) have been established to monitor and release guidance notes for emission levels and environmental performance and are anticipated to fuel market growth over the forecast period. Leading companies have been investing heavily in R&D to upgrade technologies to handle pipeline specific quality. The requirement for technological advancements for solid handling is expected to hinder market growth over the foreseeable future.
Global oil & gas separation market revenue by technology, 2012 - 2020 (USD Million)
On the basis of technology, oil & gas separation market has been segmented into gravitational, centrifugal and other technologies such filter vane separation and mist elimination. Gravitational was the major technology segment and accounted for over 45% of the market revenues in 2013 owing to low cost for the separation process. Gravitation is the most conventional technology used in the industry and is poised to grow at a relatively lesser pace compared to other high-growth technologies. Centrifugal technology is expected to grow rapidly over the next six years owing to more efficient separation mechanism. Other technologies such as filter vane separation, mist elimination, inertial impaction and diffusional interception are poised to grow at an above-average rate over the next six years owing to rising demand for more efficient technologies for crude separation.
On the basis of separation equipment, oil & gas separation market has been segmented into two-phase separators, three-phase separators, and scrubbers. Other equipment included in the market sizing comprise degassers, deliqulizer, and trap. Three-phase separators emerged as the leading product segment and accounted for over two-fifth of total market revenue in 2013. Three-phase separators are also expected to witness the fastest growth rate in the foreseeable future owing to growing need to treat produced water during oil & gas production. Better capability to handle complex operation issues such as solid separation is also estimated to drive three-phase separators to demand in next few years. Scrubbers are expected to gain market share over the foreseeable future owing to cost and energy efficient mechanism.
On the basis of application, oil & gas separation market has been segmented into onshore, offshore, refinery and other processing facilities for heavier fractions C5, C5+, and NGL.s. Onshore dominated global oil & gas separation industry. An increasing number of onshore drilling wells is expected to fuel the market growth over the forecast period. Offshore oil & gas separation is expected to be the fastest growing application segment. Increasing deep sea drilling investment particularly in “Golden Triangle” which is represented the area covered between U.S. Gulf of Mexico (GoM), West Africa and offshore Brazil is expected to drive this segment over the forecast period.
North America dominated the global oil & gas separation industry and accounted for over 40% of the total market share in 2013 owing to increasing production in unconventional reserves in the region. North America is expected to remain the largest market over the forecast period on account of increasing production in conventional and unconventional reserves in onshore & offshore locations. North America is also expected to witness significant growth over the forecast period. The rapid development of unconventional resources in the U.S. and Canada is expected to drive the need for separation in the region. In addition, favorable regulatory policies regarding treatment of produced water are also expected to have a positive influence on the regional market. Asia Pacific is expected to project the fastest growth rates in near future on account of rising oil & gas production in the region. Growing energy need has prompted oil & gas activities in the region which is expected to boost the regional market. China is expected to witness rapid growth in the foreseeable future on account of increasing shale gas activities in the region. U.S dominated the oil & gas separation market in 2013 and is expected to maintain its dominance over the forecast period owing to increasing production in shale gas reserves. Latin America and Africa is expected to increase market share over the next six years owing to increasing oil & gas production in various countries such as Brazil, Peru, and Venezuela.
Major players in global oil & gas separation market are investing heavily in R&D for separation technology development. Major companies operating in the global market include Chevron, Opus Company, Pall Corporation, Hamworthy, Unidro SpA, Twister BV, Frames Group, Honeywell, FMC Technologies and Sulzer.
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