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Global Oil and Gas Separator market will reach 4510 million US$ by the end of 2025
Global Oil and Gas Separator market will reach 4510 million US$ by the end of 2025
Publisher: QYResearch
Published Date: 2018/11/19
An oil/gas separator is a pressure vessel used for separating a well stream into gaseous and liquid components. They are installed either in an onshore processing station or on an offshore platform. Based on the vessel configurations, the oil/gas separators can be divided into horizontal, vertical, or spherical separators.
Horizontal separator emerged as type with largest market share, and the segment is also anticipated to witness the fastest growth over the next seven years.
The future market of oil and gas separator depends on the development of technology, demand and suppliers. Worldwide Installations are not performing in a high lightened way because of sluggish economy.
North America was the largest consumer and accounted for over 30% of the global consumption volume in 2015.
Asia is anticipated to witness the fastest growth rate over next seven years owing to dramatic development of both offshore and onshore reserves in China, Indonesia, India and Malaysia.
Chinese government’s plans to exploit its shale reserves have furthered the market expansion and are expected to create immense potential for processing equipment over the forecast period
The global Oil and Gas Separator market is valued at 3780 million US$ in 2017 and will reach 4510 million US$ by the end of 2025, growing at a CAGR of 2.2% during 2018-2025.
This article was first released by QYResearch, if reproduced, please indicate the source.
- Posted on: 2018-11-18 23:54:45
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- Item ID: 14993836