DUBLIN, Jan 9, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global High-Pressure Oil and Gas Separator Market 2017-2021" report to their offering.
The global HPOGS market to grow at a CAGR of 1.24% during the period 2017-2021.
Global HPOGS Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenues generated from the sale of the HPOGS and estimated from the number of oil and gas exploration rigs operational worldwide.
The global HPOGS market is highly reliant upon the state of the global oil industry and the crude oil prices. The primary use of the product is concentrated in the upstream oil and gas industry. The recent rout in the global crude prices, leading to a reduction in drilling activities, is expected to have a significant effect on the course and the high-pressure separator market over the forecast period.
According to the report, the global oil and gas industry has seen an increase in the unconventional oil and gas resources such as oil sands and shale oil and gas. Oil sands have been commercially produced since the 1960s. The Alberta basin in Canada is estimated to hold 1.7-2.5 trillion barrels of bitumen.
The successful shale oil and gas extraction in the US since 2008 has led to an increase in the global oil and gas supply. The shale oil and gas production in the country has increased from 3.76 mbpd in 2011 to 7.41 mbpd in 2015. This drastic increase in oil and gas extraction has increased the number of rigs and related E&P equipment, including high-pressure separators.
Further, the report states that since mid-2014, crude oil prices are falling, which is negatively influencing the oil and gas industry. The falling crude oil price has become a major challenge for oil equipment companies. Companies are shutting down their wells and rigs as the revenue generated is not equal to the expenditure. The number of rigs in use by Baker Hughes has declined by 40%-60% from 2014-2016 during the past oil downturns. Companies have started shifting to the onshore rigs rather than offshore rigs as the cost incurred more than the cost incurred in onshore rigs.
However, later when revenue was not generated as per the expectations or calculations, they started shifting toward offshore rigs owing to decrease in prices related to service providers and equipment. The oil equipment industry is affected indirectly as companies are not buying or renting the equipment due to the declining price.
- Alfa Laval
- FMC Technologies
- Frames Energy Systems
- M-I SWACO
Other prominent vendors
- ACS Manufacturing
- eProcess Technologies
- Grand Prix Engineering
- HAT International
- Kirk Process Solutions
- Kubco Decanter Services
- KW International
- Metano Impianti
- China Oil HBP Technology Group
- Oil Water Separator Technologies
- Peerless Europe Limited
- Separator Spares & Equipment
- Sepco Process
- SMICO Manufacturing
- SOPAN O&M Company
- Stanley Filter Company
- Sulzer (previously ASCOM)
- Surface Equipment Corporation
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by vessel type
Part 07: Market segmentation by application
Part 08: Geographical segmentation
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Vendor landscape
Part 15: Key vendor analysis
Part 16: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/5cwmlm/global
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SOURCE Research and Markets