LONDON--(BUSINESS WIRE)--The global oil and gas separators market is expected to post a CAGR of nearly 3% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Factors such as increasing population and industrial development have created a strong demand for energy. This has increased the production of oil and gas from unconventional sources such as oil sands, tight oil, and shale oil and gas reserves. The rise in the production of oil and gas has increased the use of oil and gas separators in refineries. These factors are expected to fuel market growth during the forecast period.
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As per Technavio, advances in oil and gas separation technologies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Oil and Gas Separators Market: Advances in Oil and Gas Separation Technologies
The oil and gas industry has witnessed significant advances in oil and gas separation technology over the recent years. For instance, vendors in the market are introducing inline separation technology in oil and gas separators to overcome various challenges faced by the global oil and gas industry. The inline separation technique is simple, cost-effective, easy to install, and requires less maintenance compared to conventional vessel-type separation technology. The inline separation technique is suitable for both harsh production environments as well as new fields and retrofit applications. Many such advancements in oil and gas separation technologies are expected to boost market growth during the forecast period.
“Apart from the advances in oil and gas separation technologies, increase in deepwater and ultra-deepwater exploration and production activities and adoption of modular mini refineries are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Oil and Gas Separators Market: Segmentation Analysis
This market report segments the global oil and gas separators market by application (onshore and offshore), type (vertical and spherical) and geography (APAC, Europe, MEA, North America, and South America).
The MEA region led the market in 2018, followed by North America, APAC, Europe, and South America respectively. During the forecast period, the MEA region is expected to maintain its dominance over the global market. This is due to a significant rise in the number of upcoming offshore deepwater projects in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- 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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