Oilfield Degasser Market Segmentation:
Application Segment Analysis
Oilfield degasser market from the onshore segment is estimated to hold largest revenue share during the forecast period, amounting to 56% of the global market. The segment’s growth is attributed to significant technological advancements in horizontal drilling and hydraulic fracturing, which have made extraction from unconventional oil and gas reserves possible. As observed by Research Nester analysts, between 2008 and 2018, the total number of horizontal oil and gas wells in the USA increased considerably, from about 28,400 to approximately 140,000. Also, the US Energy Information Administration says that hydraulic fracturing of tight oil reserves made up 6.24 million barrels a day in 2018, or 59 per cent of America's total production.
Type Segment Analysis
The vacuum tank degasser segment in the oilfield degasser market is slated to garner majority revenue share. Demand in this segment is being stimulated by the rise of seaborne drilling activities. In the mining and oil & gas sectors, there is also a continuous growth in demand for degasification equipment. Another factor expected to underpin segment growth is the need for effective dissolution gas removal from liquids with a view to improving product quality. Moreover, new opportunities for the segment and market expansion are opening up as a result of increasing urbanization and industrialization in developing countries.
Our in-depth analysis of the global market includes the following segments:
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