In this report, Technavio covers the market outlook and growth prospects of the global high-pressure oil and gas separator (HPOGS) market for 2017-2021. By vessel type, this market is segmented into horizontal, vertical, and spherical vessels.
The horizontal HPOGS vessel segment is the market leader, with a share of over 70% (2015 figures). These vessels can handle large volumes under high pressures, and countries like Venezuela, Saudi Arabia, and Canada have high demand for them. The segment is forecast to have a market value of 1.96 billion by 2021, per Technavio analysts.
“Alfa Laval, one of the key vendors in the global HPOGS market, offers Alfa Laval OFX 20-disc stack centrifuge system to provide an efficient removable of water and solids from heavy crude oil and provide refinery-spec oil downstream. Larger, established vendors like Alfa Laval have a key advantage in this competitive market space as they can afford to provide lower average selling prices for similar products, thus attracting more consumers,” says Thanikachalam Chandrasekaran, one of the lead analysts at Technavio for power research.
Technavio’s research study segments the global HPOGS market into the following regions:
EMEA: largest HPOGS market segment
Since the 1950s, when the first oil reserves were discovered in EMEA, the region has established itself as a hotspot for crude oil and natural gas production. Saudi Arabia, Iran, the UAE, and Kuwait have been leading the industry in terms of production volumes for decades. This creates a substantial demand for HPOGS in the market, and the market is projected to grow moderately during the forecast period.
The oil and gas industry in the region is mature, with many complex operations being witnessed from Western Europe due to the constantly increasing energy demands from the region. The established reserves still under production, combined with the increasing investments to locate new reserves is expected to aid in the growth of the HPOGS market in the region.
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Americas: fall in oil prices leads to increase in oil production in the region
The HPOGS market in the Americas is expected to be valued at USD 1.48 billion by 2021, where the US is forecast to be the most important contributor. This region is witnessing an increased production from existing reserves due to the recent fall in oil prices. The high investments made into exploration and production (E&P) activities have resulted in production of greater quantities of oil and gas from unconventional sources.
Despite the dip in oil prices, the region has maintained a constant output of oil. The HPOGS market is expected to grow slowly in the region, with a slightly higher growth after the expected oil price stabilization in 2017. Additionally, the massive pre-sale discoveries in Santos and Campos basins in Brazil is likely to have a significant impact on this HPOGS market in the region.
APAC: fastest growing HPOGS market
“The HPOGS market in APAC will post the quickest growth, with a CAGR of 2.17%. This region has been witnessing rapid growth in the past four to five years due to increased offshore oil and gas exploration activities. China, Malaysia, Indonesia, and India are the major revenue contributors in the region, as they are heavily involved in production to meet their high demand for petroleum and related products,” says Thanikachalam.
APAC creates nearly 70% of the global oil demand, driven by their constantly increasing population and high rates of urbanization. China and Southeast Asia are investing heavily in the oil and gas industry, which will spur the market growth. The region is yet to realize its complete potential, giving it a large margin for growth.
The top vendors in the global HPOGS market highlighted in the report are:
- Alfa Laval
- FMC Technologies
- Frames Energy Systems
- M-I SWACO
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