Global Oilfield Degassers Market
About this market
Technavio’s oilfield degassers market analysis considers sales from both onshore and offshore applications. Our analysis report also considers finds the sales of oilfield degassers in APAC, Europe, North America, South America, and MEA. In 2018, the onshore segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising onshore E&P activities and the increased production activities due to substantial investments by private players will play a significant role in the onshore segment to maintain its market position. Also, our global oilfield degassers market report looks at factors such as a rebound in active rig count owing to recovery in oil price, increasing investments in upstream oil and gas, rise in global oil and gas demand. However, volatility in oil prices, environmental concerns related to E&P activities, and growing adoption of renewable energy may hamper the growth of the oilfield degassers industry over the forecast period.
Global Oilfield Degassers Market
Increase in the global oil and gas demand
Global oil and gas consumption is expected to witness considerable growth in the coming years owing to the increase rise in the demand need for energy. The growing demand for energy is attributed to rapid urbanization and large-scale industrialization in developing countries. To meet the rising demand for energy, major oil and gas companies are focusing on increasing their oil and gas E&P projects. This will drive the demand for drilling-related equipment, including degassers, which will lead to the expansion of the global oilfield degassers market at a CAGR of almost 6% during the forecast period.
Increase in Deep-Water and Ultra-Deep-Water Upstream Projects
Oil and gas companies have shifted their focus from shallow-water drilling to deepwater and ultra-deepwater resources. Moreover, the rise in the price of crude oil has led to a significant increase in drilling and operations. Oil and gas companies are significantly investing in offshore deepwater and ultra-deepwater drilling projects. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global oilfield degassers market during the forecast period 2019-2023, click here.
With the presence of several major players, the global oilfield degassers market is highly fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading oilfield degassers manufacturers, that include CMIC Ocean En-Tech Holding Co. Ltd., Derrick Corp., Fluid Systems, Inc., Hebei GN Solids Control Co. Ltd., MHWirth AS, National Oilwell Varco Inc., Schlumberger Ltd., The Weir Group Plc., Xi’an KOSUN Machinery Co. Ltd., Yantai Jereh Oilfield Services Group Co. Ltd.
Also, the oilfield degassers market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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