North America region is anticipated to account for the major fraction of the global high pressure oil and gas separators market because of the increasing number of onshore and offshore drilling activities in the region. The oil & gas separator manufacturers in the Asia-Pacific region are conducting R&D activities for enhancing the equipment efficiency and reducing the overall pricing. Moreover, the market in the Middle East and Africa also holds a significant share in the global high pressure oil and gas separators market because of the presence of a large number of oil and gas industries in the region.
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With the rapid industrialization around the world, there has been an ever increasing demand for fuel in different verticals of businesses. Since recent past there has been and observed in the applications for unconventional oil and gas resources especially shale gas. This is one of the major factors responsible for driving the growth of high pressure oil and gas separators in the market. The oil and gas separators play a vital role in separating the gaseous components from the crude oil. In addition, the growing number of oil and gas expansion activities and the increasing installations of onshore facilities for high pressure separators and expected to boost the market in near future. However, the fluctuating prices of crude oil might act as a restraining factor for the market.
Companies covered in the market report are Halliburton, , Schlumberger Limitedm Honeywell International, Kirk Process Solutions, Sulzer Ltd., TechnipFMC plc, Frames Group, Alfa Laval, M-I SWACO and Cameron.
COVID-19 scenario analysis:
- The outbreak of the COVID-19 pandemic has severely affected the global market.
- Because of the nationwide lockdowns and restrictions on national and international transport imposed by the governments, most of the business activities have come to a halt. This has resulted in a drastic fall in the demand for oil and gas around the world and as a result the applications for high pressure oil and gas separators decreased significantly.
- Attributed to the wake of COVID-19 pandemic the overall consumption of crude oil has decreased to a greater extent. The oil prices has slashed down to $30 per barrel that led to fall of nearly 50-85% of oil & gas revenues in 2020 as compared to that of 2019. This is projected to have a negative impact on high pressure oil & gas separators market during the COVID-19 scenario.
- Also, temporary shutdown of midstream refineries where oil & gas separators are used widely have put a break on the high pressure oil and gas separators market due to lockdowns and risk of health infection of workforce during the novel coronavirus pandemic.
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Key benefits of the report:
- This study presents the analytical depiction of the global high pressure oil and gas separators industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global high pressure oil and gas separators market share.
- The current market is quantitatively analyzed from 2021 to 2029 to highlight the global high pressure oil and gas separators market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global high pressure oil and gas separators market analysis based on competitive intensity and how the competition will take shape in coming years.
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