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Oil companies are focussing on enhancing the overall production efficiency of the well to meet the massive demand for oil and gas. Extracted hydrocarbon contains gas, oil, water, sluggish fluid, mud, and other particles. It is necessary to separate these particles before end-use.
A pressure vessel is primarily used to separate oil and gas from the total fluid stream produced by a well. Separator contains primary separation section, baffles, oil settling section, water drain section, oil, water, and gas outlets, and mist extractor. Oil and gas separation is essential for efficient transportation and storage of oil and gas, as they need to be stored separately.
The growing exploration and production activities in remote areas and rising demand for onsite processing of hydrocarbon is expected to leverage the growth of the oil and gas separation equipment market.
Key Market Driver -
Key Market Driver – Rising exploration and production activities along with massive investment in refining
Key Market Restraint -
Key Market Restraint – Complications involved in handling solid particles and expensive technology
Oil and gas separation equipment market is segmented into the configuration, product type, and technology. The configuration segment is further divided into horizontal, vertical, and spherical configuration. Vertical separators are mainly suitable for offshore well because of limited space while horizontal separators are suitable for onshore wells because they occupy a large area.
A horizontal separator can handle high flow rates, and they are easy to clean. The two-phase separator deals only with oil and gas, while three-phase separators can handle oil, water, and gas.
An uninterrupted flow of liquid fuel and gas is important parameter in the extraction of oil and gas. Rising exploration and production activities along high installation of separators at onshore, offshore and refineries are expected to leverage the growth of the oil and gas separation equipment market. Growing environmental concern and massive offshore exploration are accelerating the growth of the oil and gas separation equipment market.
Complexities involved in handling solid particles and expensive technology is obstructing the growth of the oil and gas separator equipment market.
The key players in the oil and gas separation equipment market are Worthington Industries, Alfa Laval, CECO Environmental Corporation, ACS Manufacturing, Inc., Halvorsen Co., Äager GmbH, Honeywell, HAT International Ltd, Valerus, Member of the SNC-Lavalin Group, Pentair Filtration Solutions, LLC, GEA Group, TechnipFMC, and ANDRITZ.
The oil and gas separation equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to share a substantial market of oil and gas separator equipment owing to rising gas production and shifting trend towards shale gas production. North America and Europe are first regions which adopted this technology to enhance the flow rate of oil wells. Asia Pacific experiencing a rapid demand for oil and gas due to massive industrial and urban growth.
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Oil companies are expanding their existing project investing in new project that adding positive value for the growth of the oil and gas separation equipment market. The oil baron countries UAE, Saudi Arabia, Iran, Iraq, Qatar, etc. in MEA makes it one of the most significant producer hydrocarbon. Some of the leading oil and gas companies like Saudi Aramco are consistently investing in exploration and production activities. These factors are expected to accelerate the growth of the oil and gas separation equipment market in MEA.
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