Covid-19 Impact on Offshore Oil and Gas Separators Market: Trends, Competitive Landscape and Segmentation by 2023

Oil and Gas Separators Market - Overview

The global Oil and Gas Separators Market is expected to exhibit a strong 4.2% CAGR over the forecast period from 2017 to 2023, according to the research report recently released by Market Research Future (MRFR). The global oil and gas separator market is mainly driven by the growing demand for oil and gas refineries and on-site processing.

Oil and gas separators are crucial components of oil and gas refinery units and allow the producer to separate the liquid and gaseous components of the crude well stream effectively and relatively easily. The various types of oil and gas separators work on the same fundamental principle of the respective density of each component allowing it to settle into its own layer, with gases at the top, oils in the middle, and water at the bottom. A detailed analysis report of COVID-19 impact on Offshore Oil and Gas Separators Market is provided with the report.

The growing demand for onshore as well as offshore exploration and production of oil and gas around the world is likely to be a major driver for the global oil and gas separator market over the forecast period. the growing demand for fossil fuels around the world has driven the demand for oil and gas exploration in recent years, with countries such as Indonesia, Mexico, China, Canada, and Russia making increasing efforts to discover rich veins of petroleum and making the most of them in the long run. This is likely to remain the major driver for the global oil and gas separator market over the forecast period, as emerging countries such as the ones mentioned above are likely to focus on oil and gas E&P as a highly profitable line of business in the coming years.

On the other hand, the high costs of constructing and maintaining oil and gas separators could hamper the global oil and gas separator market’s prospects over the forecast period.

Competitive Analysis:

Leading players in the global offshore oil and gas separator market include GEA Group AG, Frames Group, Pall Corporation, Suzler Ltd., ACS Manufacturing Inc., TechnipFMC PLC, Halliburton Inc., Schlumberger Limited, Pentair PLC, Honeywell International Inc., Alfa Laval, and Exterran Corp.

Global Offshore Oil and Gas Separators Market Segmentation:

The global offshore oil and gas separator market is segmented on the basis of type, technology, application, vessel configuration, and region.

On the basis of type, the oil and gas separator market is segmented into two-phase, three-phase, deliquilizers, scrubbers, and degassers. Three-phase separators are the dominant product segment in the global oil and gas separator market and are likely to remain the dominant segment over the forecast period due to their ability to easily handle complex operations such as solid separation. Two-phase separators are also widely demanded in the oil and gas industry and are mainly used in onsite applications before the crude oil is sent to refineries.

On the basis of technology, the global offshore oil and gas separator market is segmented into gravitational and centrifugal. Gravitational oil and gas separators dominate the global market due to their low costs, but centrifugal separators are expected to witness a higher growth rate over the forecast period.

On the basis of application, the offshore oil and gas separator market has been segmented into onshore, offshore, and refinery. Onshore applications dominate the global oil and gas separator market, while offshore applications are likely to exhibit a rise in demand over the forecast period due to the growing demand for offshore oil and gas projects.

On the basis of vessel configuration, the market has been segmented into horizontal, vertical, and spherical. 

Regional Analysis:

North America dominates the global offshore oil and gas separators market due to the growing demand for unconventional oil and gas exploration projects, which drive up the demand for effective separation mechanisms. Asia Pacific is expected to exhibit the highest growth over the forecast period due to the growing offshore projects in countries such as China and Indonesia.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.