Oilfield Degasser Market Size & Share, by Application (Onshore, Offshore); Type (Vacuum Tank Degasser, Atmospheric Degasser) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5521
  • Published Date: Jan 08, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Oilfield Degasser Market size is anticipated to reach USD 6.4 Million by the end of 2036, growing at a CAGR of 6.5 % during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of oilfield degasser was over USD 3 Million. The increase in active oil rig count is acting as a significant factor for the market’s growth. The increase in global crude oil prices has prompted oil and gas companies to invest more in oil and gas projects. As analysed by Research Nester analysts, the number of operational onshore oil rigs stood at 1,532 by the end of 2022, compared to 231 offshore. In 2021, as demand for oil increases again due to the coronavirus pandemic induced economic collapse, there has been a significant increase in global rig count. However, a decrease in proven oil and gas reserves in the North Sea is primarily behind the fall in offshore drilling rigs. In 2022, the average number of global oil rigs reached 1,747, which represents an increase compared to 2021. Increased drilling activity, in turn, increases demand for oil and gas drilling rigs. As a result, the demand for rig components and equipment rises. thus, propelling the market’s growth.

Further, the gradual recovery of global crude oil prices increased the number of active rigs deployed in both onshore and offshore drilling activities. This is expected to increase the demand for oilfield equipment, including degasser, which, in turn, will drive the growth of the global oilfield degasser market during the forecast period.


Oilfield Degasser Market Overview
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Oilfield Degasser Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 6.5%

Base Year Market Size (2023)

~ USD 3 Million

Forecast Year Market Size (2036)

~ USD 6.4 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Oilfield Degasser Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Technological Developments- The need for sophisticated degassing solutions that are more economical and efficient is rising. The creation of ecologically friendly degasser that lower the emission of hazardous gases is also receiving more attention. Increasingly, degasser are integrating digital technologies like AI and IoT to improve their accuracy and monitoring capabilities. Additionally, the market is seeing a rise in the use of mobile degassing devices, which offer convenience and flexibility for onsite degassing operations. All things considered, these trends are spurring innovation and changing the global market for oilfield degasser.
  • Stringent Environmental Regulations- Environmental Compliance requirements prompt the need for effective degassing solutions. Degasser aid in the removal of harmful gases and contaminants from drilling fluids, ensuring compliance with environmental standards.
  • Global Energy Demand- Increasing energy needs worldwide drive expanded drilling activities. Consequently, the demand for efficient and reliable degassing solutions rises to maintain operational efficiency in drilling operations.
  • Growing Focus on Well Control- Ensuring wellbore stability and pressure control is critical in drilling operations. Degasser help prevent gas-related issues like kicks and blowouts, ensuring safe and controlled drilling processes.

Challenges

  • Operational Costs-High operational costs associated with acquiring and maintaining advanced Degassing system can pose a challenge, especially for smaller drilling operations or during periods of low oil prices.
  • Ensuring these systems function optimally and safety under such conditions presents a challenge.
  • Designing Degasser capable of efficiently handling vary conditions poses challenge.


Oilfield Degasser Segmentation

Application (Onshore, Offshore)

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 (Vacuum Tank Degasser, Atmospheric Degasser)

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:

          Application

  • Onshore
  • Offshore

          Type

  • Vacuum Tank Degasser
  • Atmospheric Degasser

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Oilfield Degasser Industry - Regional Synopsis

North American Market Forecast

North America oilfield degasser market is poised to hold largest revenue share, accounting to 45%. The region demonstrates robust growth driven by the thriving oil and gas industry. As per estimates, North America is home to the largest number of oil rigs in the world. There were 797 drilling rigs in this area as of November 2023, and another 22 had been deployed offshore. The United States and Canada, as key players in this market, witness extensive drilling activities, both onshore and offshore, contributing to the demand for efficient Degassing systems. The region’s focus on technological innovation and advanced drilling techniques enhances the necessity for reliable Degasser to maintain drilling fluid integrity. Additionally, stringent environmental regulations governing the oil and gas sector prompt the adoption of Degasser capable of effectively removing contaminants and gases from drilling fluids, ensuring compliance while optimizing drilling processes. Moreover, the emphasis on safety and well control in drilling operations further propels the demand for these systems. The North American market’s growth signifies its commitment to leveraging advanced technologies and adhering to environmental standards, fostering safer, more efficient, and environmentally conscious oil and gas exploration and production practices.

APAC Market Analysis

Asia Pacific oilfield degasser market is set to attain notable market value, by the end of the forecast period. The region exhibits a dynamic and growing market propelled by burgeoning energy exploration and drilling activities. In 2022, crude oil production in Asia Pacific is estimated to be approximately 7.37 million barrels a day. Countries like China, India, Australia, and Indonesia contribute significantly to this market’s expansion. China's oil output in the Asia Pacific region has exceeded 4 million barrels per day by 2022, making it the world's biggest producer. The region’s extensive oil and gas exploration efforts in both onshore and offshore fields drive the demand for Degasser. Moreover, the emphasis on environmental compliance and safety standards in drilling operations fuels the adoption of efficient Degassing systems. Technological advancements and a focus on optimizing drilling processes further bolster market growth. The expanding energy demands across various industries in the Asia Pacific region stimulate increased drilling activities, thus elevating the necessity for reliable and efficient Degasser.

Research Nester
Oilfield Degasser Market Size
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Companies Dominating the Oilfield Degasser Landscape

top-features-companies
    • Bomcobras
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
    • Derrick Corporation
    • Elgin Power and Separation Solutions
    • Fluid Systems & Controls, Inc.
    • GN Solids Control. 
    • NOV Inc.
    • Petro Path, LLC.
    •  Rumaila
    • Shandong Jintan Machinery Equipment Co., Ltd 
    • The Weir Group PLC

In-the-news

In The News

  • December, 2023- In keeping with its commitment to sustainability and innovation, Derrick® Corporation partnered with Rungta Steel®, one of the top and fastest-growing integrated steel manufacturers in India. Modern SuperStack® technology from Derrick will be used by the company in its iron ore beneficiation projects in Odisha, India.
  • November,2021- At the Rumaila oilfield, one of the most sophisticated water pumping systems in Iraq has been built to support the long-term goals of the field and increase oil production. After over 40 years, Cluster Pump Station Six (CPS-6) is the first CPS facility constructed at Rumaila. Additionally, it is the first CPS built by the field's operator, the Rumaila Operating Organization (ROO), a joint venture between the State Oil Marketing Organization (SOMO), bp, PetroChina, and the Basra Oil Company (BOC).

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5521
  • Published Date: Jan 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing energy needs, growing focus on well control, rising oil rig activities are some of the major growth drivers for the oilfield degasser market.

The market size of oilfield degasser is anticipated to attain a CAGR of 6.5 % over the forecast period, i.e., 2024-2036.

The major players in the market are Derrick Corporation, Elgin Power and Separation Solutions, Fluid Systems & Controls, Inc., GN Solids Control., NOV Inc., Petro Path, LLC., Schlumberger Limited, Shandong Jintan Machinery Equipment Co., Ltd, The Weir Group PLC, and others.

The Onshore segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Oilfield Degasser Market Report Scope
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