LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global three-phase separator market in the oil and gas industry to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.
The ongoing R&D activities is one of the major trends being witnessed in the global three-phase separator market in the oil and gas industry 2018-2022. Manufacturers are involved in innovative R&D, often in collaboration with their clients and partners, to develop leading products and technologies that provide greater efficiency to the client, reduce development costs, and enable frontier developments.
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According to Technavio analysts, one of the key factors contributing to the growth of the global three-phase separator market in the oil and gas industry is the growth in unconventional oil and gas resources:
Global three-phase separator market in the oil and gas industry: Growth in unconventional oil and gas resources
The production of crude oil has been on high in countries. With the increase in production, separation of crude oil from liquid and impurities has become a necessity, leading to the growing demand for three-phase separators in the oil and gas industry. Once the crude oil is extracted from wellbores, refineries need to separate oil, water, and gas before transporting it for further downstream processing.
According to a senior analyst at Technavio for research on oil and gas, “The downstream sector of the oil and gas industry is heavily dependent on the upstream sector that is opting for three-phase separators to segregate oil, gas, and liquid before transporting it to refineries. This entire process helps save the time required to separate different phases prior to crude oil refining and simplify the process for the downstream sector.”
Global three-phase separator market in the oil and gas industry: Segmentation analysis
The global three-phase separator market in the oil and gas industry research report provides market segmentation by application (onshore and offshore) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The onshore segment held the largest market share in 2017, accounting for nearly 90% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 56% of the market share. The market share occupied by this region is anticipated to increase during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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