Market Research Report
High-Pressure Oil and Gas Separator - Global Market Outlook (2020-2028)
|High-Pressure Oil and Gas Separator - Global Market Outlook (2020-2028)|
Published: May 5, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global High-Pressure Oil and Gas Separator Market is expected to growing at a CAGR of 3.1% during the forecast period. Some of the key factors propelling the market growth include growth in unconventional oil and gas resources, particularly shale gas and oil reserves, installation of off-site and on-site processing facilities, advancements in research & development activities, and growth in unconventional resources. However, tumbling global crude oil prices and unpredictability of the oil and gas industry has led to a reduction in exploration, drilling and production activities are restricting the market growth.
A high-pressure oil and gas separator is a spherical or cylindrical pressure vessel used to separate oil, water, and gas from the fluid stream produced by an oil well. In order to produce the hydrocarbons, the most fundamental part is separation. The operating principle of separators is that the lightest fluid rises to the top while the heaviest fluid settles to the bottom. It is installed either on an offshore platform or on an onshore processing station. High pressure separators can handle pressures ranging from 975 and 1500 psi.
By vessel type, the horizontal separators segment is expected to grow at the significant rate throughout the forecast period, due to their ability to handle a large volume of gas and liquids. Horizontal high pressure oil and gas separators are suitable for high gas-oil ratios and constant flow well-streams. These separators can handle the higher pressure that makes them more suitable for offshore and deepwater reservoirs. With the increase in offshore and deepwater E&P across various countries, the market for horizontal HPOGS is predicted to grow in the coming years.
On the basis of geography, North America region is expected to have considerable market growth during the forecast period, owing to the rise in discovery of multiple reservoirs of shale oil and gas and rising offshore exploration activities in the region. The market for high pressure oil and gas separators is on the rise, mainly in the United States, due to the discovery of multiple reservoirs of shale oil and gas and rising offshore exploration activities in the region. Since the number of conventional deposits is decreasing, crude oil is increasingly being extracted from unconventional deposits such as oil sands or oil shale. There are large amounts of unconventional hydrocarbon reserves in regions of North America, especially in countries like the United States, and Canada.
Some of the key players in High-Pressure Oil and Gas Separator Market include Honeywell International, Kirk Process Solutions, Alfa Laval AB, Halliburton Co., Schlumberger Limited, Cameron, GEA Group Aktiengesellschaft, Sulzer Ltd., TechnipFMC plc, Frames Group, HAT International Ltd., CECO Environmental Corp., Exterran Corp., Parker Hannifin Corp., FMC Technologies, ACS Manufacturing, Inc., Hydrasep,Inc., and R&H Technical Sales, Inc.
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