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Increasing exploration & production activities, rising demand for oil & gas globally, & increasing investment in refining are key factors driving market growth

NEW YORK CITY, NY, UNITED STATES, May 5, 2022 /EINPresswire.com/ -- According to the latest report by Reports and Data, the global Oil & Gas Separation Equipment Market size is expected to reach USD 11.81 Billion by 2028 and register a CAGR of 4.5% over the forecast period. Increasing oil and gas exploration activities and rising demand for hydrocarbon processing onsite are key factors expected to continue to drive market revenue growth over the forecast period. The increasing focus of oil companies on improving the productivity of oil and gas wells to meet the growing global demand for oil and gas is another key factor expected to continue to drive market growth going ahead.

An oil and gas separator is a pressure vessel used to separate well streams into liquid and gas components. Oil and gas separators are typically installed in onshore processing units and offshore platforms. Separators are necessary to generate oil and gas streams that conform to pipeline requirements. In addition, extracted hydrocarbons are generally mixed with gas, oil, water, mud, and other liquid or solid particles. The separation of hydrocarbons from impurities is important before they can be converted to fuel. The increasing need for efficient separation equipment to maintain the optimum pipeline and fluid quality has been booting demand for oil & gas separation equipment and this is expected to further drive market growth over the forecast period.

Prominent companies in the market include Worthington Industries, Alfa Laval, Amacs, Burgess-Manning, Inc, ACS Manufacturing Inc., Godrej Process Equipment, Honeywell, ATLAS Oil & Gas Process Systems Inc, Valerus, eProcess Technologies Pty. Ltd, HAT International, Fenix Process Technologies, and Doyle Dryers LLC.

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Market Overview:

Consumers are placing higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had a considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and worksites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.

The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.

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Some Key Highlights From the Report:

Three-phase separators segment is expected to account for the largest revenue share in the global market during the forecast period. This can be attributed to the increasing advantages of three-phase separators such as optimum pressure and liquid sealing. Increasing production of oil from resources such as shale reserves is a key factor expected to contribute to the revenue growth of this segment.

Horizontal segment revenue is expected to expand significantly over the forecast period owing to increasing use in onshore wells, the ability to handle high flow rates, and is relatively easier to clean and maintain as compared to others.

The Centrifugal technology segment is expected to dominate other technology segments in terms of revenue share over the forecast period owing to its ability to allow efficient separation of liquid mist from gas.

North America is expected to register a revenue CAGR of 4.2% over the forecast period attributable to increasing offshore exploration and production activities, rapid increase in shale gas and tight oil exploration, and growing demand for oil and gas in countries in the region. In addition, the robust presence of key companies in the region is expected to further drive market growth.

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For the purpose of this report, Reports and Data has segmented the global oil & gas separation equipment market based on product, configuration, technology, and region:

Product Outlook (Revenue, USD Billion; 2018-2028)

Two-phase separators

Three-phase separators

Degasser

Scrubber

Deliquilizer

Heat Treaters

Configuration Outlook (Revenue, USD Billion; 2018-2028)

Horizontal separator

Vertical separator

Spherical separator

Technology Outlook (Revenue, USD Billion; 2018-2028)

Gravitational

Centrifugal

Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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