Authored By: Sarah
02 Dec 2024

Latest News- Oilfield Degassers Market: Onshore is expected to lead the Application segment during 2024-2028

The Oilfield Degassers Market is being driven by Increase in active rig count

The Oilfield Degassers Market is expected to grow at a CAGR of 5.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.66 thousand. In the oil and gas industry, the shift from onshore to offshore production has been a significant trend for several decades. With the depletion of shallow water resources, companies have turned to deepwater and ultra-deepwater reserves. However, the high capital expenditures and operational challenges associated with deepwater and ultra-deepwater projects necessitate an average crude oil price of over USD60/bbl for profitability. Consequently, the decline in global crude oil prices in 2014 led to a decrease in investment in these projects. The harsh weather conditions and complex extraction processes in offshore environments further increase the costs and risks involved. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on Application (Onshore, Offshore) Geography (North America, Middle East and Africa, APAC, Europe, South America). 

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

  • Increase in active rig count
  • Rise in unconventional drilling activities
  • Growing consumption of oil and gas

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Key Features in Oilfield Degassers Market Research Report

  • Comprehensive Market Analysis
  • In-Depth Competitive Landscape
  • Future Market Trends
  • Detailed Market Segmentation.
  • Expert Analysis, and more...

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Oilfield Degassers Market plays a crucial role in the oil and gas industry, particularly in managing hydrostatic pressure and preventing the release of harmful gases such as methane, carbon dioxide, and hydrogen sulfide during drilling operations. Degassers are essential for deep-water and ultra-deep-water drilling to mitigate the risk of gas explosions. With the fluctuating oil prices, onshore and offshore drilling rig counts and drilling activities continue to impact the demand for oilfield equipment. Ecologically friendly degassers, digital technologies like AI and IoT, mobile degassing devices, and advanced drilling technologies are driving innovation in this market. Gas-cut mud, vacuum degassers, membrane degassers, and centrifugal degassers are some of the key types used in exploration and production activities. Well control is a critical application area for degassers to ensure safe and efficient drilling operations.

Market Research Overview

The global oil and gas equipment and services market encompasses businesses involved in the production of oil and gas upstream, including the manufacture of equipment and provision of contracts. This sector plays a significant role in catering to the demands of the oil and gas industry. According to Technavio, the oil and gas equipment and services market is projected to expand at a moderate growth rate, driven by the surging global energy demand and the burgeoning power sector. The increasing need for drilling equipment will fuel the expansion of this market. Additionally, the challenge of managing hydrostatic pressure and the presence of gases such as methane, carbon dioxide, and hydrogen sulfide during deep-water and ultra-deep-water drilling poses significant safety concerns, necessitating the use of degassers to prevent gas explosions. Therefore, the growing focus on safety and the rising demand for deep-water and ultra-deep-water drilling will further propel the growth of the oil and gas equipment and services market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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