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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Oil and Gas Separation Market Size
The global oil and gas separation market is anticipated to register a CAGR of 4.7% during the forecast period of 2024-2032.
The oil and gas separation market growth is primarily driven by the rising environmental concerns of the emission of greenhouse gases, stringent governmental regulations for exploring sustainable options of oil extraction, and increasing demand for energy across the globe.
On the basis of product type, the three-phase separator segment accounted for the largest market share in 2020 and is estimated to retain its dominance over the forecast period of 2024-2032. In addition, the scrubber segment is expected to be the fastest-growing segment during the assessment years. Based on the technology type, the global oil and gas separation industry is dominated by gravitational separation segment in 2020. The gravitational separation technology has a lower operating cost, which in turn is projected to drive the industry growth. The centrifugal separation segment, however, is likely to register the highest CAGR over the forecast period of 2024-2032.
North America is accounted for the largest market share in the global oil and gas separation industry, owing to the increasing exploration and generation of conventional and non-conventional resources, which is expected to propel the industry growth in the region. The Asia Pacific is estimated to grow at a significant CAGR during the forecast year on account of favourable government policies.
Oil and Gas Separation Market Report Snapshots
Oil and Gas Separation Market Size
Oil and Gas Separation Market Analysis
Oil and Gas Separation Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In the forecast period of 2024-2032, the global oil and gas separation market is expected to witness a CAGR of 4.7%.
The major drivers of the industry, such as rising disposable incomes, increasing population, growing energy demand, increasing adoption of non-conventional exploratory methods, and rising use of separators for onsite treatment are expected to aid the market growth.
The rapidly growing environmental concerns regarding the emission of greenhouse gases and the introduction of stringent governmental regulations for exploring sustainable options of oil extraction are the major trends guiding the growth of the industry.
The major regions in the markets are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa, with North America accounting for the largest market share.
The dominant technology in the industry is gravitational separation.
The leading vessel types in the industry are horizontal, vertical, and spherical.
Three-phase separators are the major product types in the industry.
The significant application segments in the industry are onshore, offshore, and refinery, among others.
The key players in the industry are Honeywell International Inc., TechnipFMC plc, Alfa Laval Corporate AB, Halliburton Company, Schlumberger Limited, and Frames Energy Systems B.V., among others.
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