Global Oilfield Degassers Market: Overview
A degasser refers to equipment that is utilized in the taking away of entrained gas in drilling fluid. It is done to minimize or avoid prevention of hydrostatic pressure that happens due to gas cut mud. The global oilfield degassers market is likely to gather considerable momentum over the tenure of assessment owing to rapid rise in the demand for oil and gas across the globe.
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With the objective of offering a detailed and deeper insight into the market, segmentations of the global oilfield degassers market have been done on the basis of two parameters, namely application and region.
Global Oilfield Degassers Market: Notable Developments
Change is a constant process for any market and the same goes for the global oilfield degassers market as well. The market has witnessed some development over the last few years. These developments exhibit the changing dynamics of the global oilfield degassers market. One such development is mentioned below:
- In November 2017, Hebei GN Solids Control Co has given exclusive right of distribution in the UK to GTD group. The former is a China-based leading manufacturer of Solids Control Equipment and Shaker Screens. Following this deal, it is expected that Hebei GN Solids Control Co will be able to expand its geographical reach in years to come.
Some of the key market players of the global oilfield degassers market are
- CMIC Ocean En-Tech Holding Co. Ltd
- Hebei GN Solids Control Co. Ltd
- Yantai Jereh Oilfield Services Group Co. Ltd
- National Oilwell Varco Inc
- Fluid Systems, Inc
- The Weir Group Plc
Global Oilfield Degassers Market: Growth Drivers
Increased Demand for Energy to Propel Oilfield Degassers Market to Prominence
The global oilfield degassers market is prophesized to witness considerable growth over the review period, thanks to the expansion of the oil and gas industry. A large chunk of the demand for degassers comes from the oil and gas industry. Oil and gas companies have made a shift in their focus to ultra deep and deep water drilling from shallow-water drilling. As such, increase in the price of crude oil has resulted in substantial rise in exploration and drilling activities. Oil and gas companies are making considerable amount of investment in ultra-deepwater and deepwater drilling projects. Such augmented interests of the companies are expected to favor growth of the global oilfield degassers market in forthcoming years.
With large-scale industrialization and rapid urbanization, the consumption of oil and gas has increased manifold all over the globe. This has led to substantial rise in the demand for energy across the globe. Such rise in the demand for energy is likely to compel the leading players of oil and gas industry to emphasize on accelerating their exploration and production activities. This is prophesized to drive the growth of the global oilfield degassers market in the forthcoming years. Following such developments, the US government has already made announcements of restarting many oil and gas projects along the coast of the country.
Global Oilfield Degassers Market: Regional Outlook
Asia Pacific, the Middle East and Africa, South America, Europe, and North America comprise the major regions of the global oilfield degassers market.
North America is estimated to come up as one of the prominent regions for the global oilfield degassers market, the production of oil and gas has increased manifold following the shale boom in the North America. The government in the U.S. making strategic approach toward oil and gas production, which is likely to fuel the expansion of oilfield degassers market in the region.
The global oilfield degassers market is segmented as:
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