The global oil and gas separator market to grow at a CAGR of 3.39% during the period 2017-2021.
Global Oil and Gas Separator 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 presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
One trend in the market is ongoing R&D activities. Oil and gas separator vendors are conducting R&D activities to reduce the equipment cost and improve efficiency. The overall efficiency of high-pressure separators is highly dependent on the nature of the inlet devices. There are a variety of inlet devices available with different working mechanisms.
According to the report, one driver in the market is refining heavy crude obtained from unconventional oil reserves. The next leap in oil and gas exploration and production will be that from unconventional reserves of oil and gas. These resources have a substantial quantity of unused reserves and are scattered across the globe. At large, they are mostly concentrated in the Americas and the Middle East. Global refineries have enhanced their Nelson complexity index in order to be able to refine the well fluids extracted from these unconventional hydrocarbon resources.
Further, the report states that one challenge in the market is uncertainties associated with low crude oil and natural gas commodity prices. The market for crude oil is volatile. This is due to the complex value and supply chain in the oil and gas industry. The price of crude oil and natural gas has been on a roller coaster ride in the past decades and has vaguely followed a trend over the past few years. The rise and fall in crude oil price, and the significance it holds in the global market is now referred to as the "crude oil price cycle." Despite studies dedicated to this crude oil price cycle, it is still difficult to make forecasts for the rise and fall of crude oil prices.