$ 134.54 Million growth Expected in High-pressure Oil &Gas Separator Market | Key Drivers, Trends, COVID-19 Analysis & Major Vendor Offerings| Technavio
Based on our research, the oil & gas equipment & services sector witnessed a negative impact due to the widespread growth of the COVID-19 pandemic.
NEW YORK, April 7, 2021 /PRNewswire/ -- The global high-pressure oil and gas separator market is expected to grow by USD 134.54 million, exhibiting a CAGR of about 1% during 2020-2024, according to Technavio's latest market report. Based on our research, the oil & gas equipment & services sector witnessed a negative impact due to the widespread growth of the COVID-19 pandemic. The report also throws light on the pre- and post-impact of COVID-19 on businesses.
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The horizontal vessel segment will generate maximum revenue in the high-pressure oil and gas separator market, owing to the increase in offshore and deepwater E&P activities. In terms of geography, APAC will present significant opportunities for market vendors due to the rising demand for energy in the region.
High-pressure Oil and Gas Separator Market: Major Growth Drivers
The following factors are expected to drive the growth of the market during the forecast period:
- Moving toward sour crude oils
- Rise in global oil and gas consumption
In addition, the report identifies the growth in unconventional oil and gas resources as a major trend in the high-pressure oil and gas separator market. Since 2008, shale oil and gas extraction activities have significantly increased in North America, especially in the US. This has subsequently increased the number of rigs and related equipment, including high-pressure oil and gas separators. Therefore, the rise in unconventional oil and gas resources is expected to foster the growth of the market during the forecast period.
The report helps businesses create strategies to make the most of future growth opportunities.
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High-pressure Oil and Gas Separator Market: Key Vendor Offerings
Alfa Laval AB: The company offers LYNX decanter centrifuge, which is a key component in solids-liquid separation for oil, gas and drilling industry processes such as barite recovery and slop oil.
CECO Environmental Corp.: The company offers industrial gas filters.
Exterran Corp.: The company offers EinsteinVision® 3.0, a 3D camera system in laparoscopic surgery and SmartVue® 2D Camera Platform.
Frames Energy Systems BV: The company offers a wide range of gas treatment products for gas separation, gas sweetening, small scale sulphur recovery, gas dehydration, dew point control, hydrate inhibition, light hydrocarbon recovery, and flare gas recovery.
GEA Group Aktiengesellschaft: The company offer separators that come in gas-tight design with nitrogen blanketing for reliable explosion protection (ATEX), for maximum protection and uptime of the separators.
Reasons to Buy High-pressure Oil and Gas Separator Market Report:
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist high-pressure oil and gas separator market growth during the next five years
- Estimation of the high-pressure oil and gas separator market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the high-pressure oil and gas separator market across APAC, Europe, MEA, North America, and South America
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of high-pressure oil and gas separator market vendors
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