Oilfield Degassers Market by Application and Geography - Global Forecast & Analysis 2019-2023

The global oilfield degassers market has the potential to grow by USD 2.36 million during 2019-2023. The growth momentum will accelerate throughout the forecast period, and the market will grow at a CAGR of almost 6%.

The rise in global oil and gas demand and the increase in deep-water and ultra-deep-water upstream projects are some of the major factors are driving market growth. The US, China, and Canada are currently the significant markets for oilfield degassers.

Oilfield Degassers Market Report - Key Insights

Scope of this Report

The report provides a detailed analysis of the market by application and geography. Also, the oilfield degassers market analysis report analyzes the market’s competitive landscape and offers information on several market vendors.

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Market Segmentation      

Oilfield Degassers Market by Application

• Onshore
• Offshore

Oilfield Degassers Market by Region

• APAC
• Europe
• MEA
• North America
• South America

Market Competitive Analysis

The oilfield degassers market is fragmented, and the degree of fragmentation will remain the same during the forecast period. CMIC Ocean En-Tech Holding Co. Ltd., Derrick Corp., and Fluid Systems Inc. are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the growing adoption of renewable energy will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The report provides information on the production, sustainability, and prospects of several companies, including:

• 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.

Oilfield Degassers Market: Key Drivers and Trends

Because of the rapid urbanization and large-scale industrialization, there is increasing consumption of oil and gas across the globe. This will result in a significant increase in the global demand for energy during the next few years. The growing demand for energy is inducing oil and gas companies to focus on increasing E&P activities. This will subsequently drive the need for oilfield degassers over the forecast period.

• The increase in deep-water and ultra-deep-water upstream projects is one of the critical oilfield degassers market trends that will influence market growth.
• The rise in crude oil prices has increased drilling and production activities.
• This will lead to a rise in offshore drilling projects, and during 2018-2021, offshore investments will grow at a CAGR of almost 12%.
• The US government has already announced the restarting of several oil and gas projects along the country’s coasts.
• Such factors will increase drilling activities across the globe, driving oilfield degassers market growth.
• During 2019-2023, the market will register a CAGR of almost 6%.

Oilfield Degassers Market: Segmentation by Region

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North America is one of the critical markets for oilfield degassers. The oil and gas production output increased significantly after the shale boom in the region. Offshore oil and gas production is also growing in the region as the US government is implementing a strategic approach to oil and gas production. As a result of such factors, the oilfield degassers market size will increase steadily in North America in the next few years.

During the forecast period, over 48% of the overall market growth will originate from North America. Market growth in this region will be faster than the growth of the market in Europe and South America.

Oilfield Degassers Market: Segmentation by Application

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The rising onshore E&P activities and the increased production activities due to substantial investments by private players are driving the growth of the market in the onshore segment. Technological advances in horizontal drilling and hydraulic fracturing also drive the growth of the market in the onshore segment.

However, market growth in this segment will be slower than the growth of the market in the offshore application segment. The report provides an accurate prediction of the contribution of various segments to oilfield degassers market growth.

Oilfield Degassers Market: Key Highlights of the Report

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the market during the next five years
• Precise estimation of the global oilfield degassers market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the oilfield degassers industry across the APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of oilfield degassers market vendors

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