October 7, 2019 - 4:30 AM EDT
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Global Oilfield Degassers Market 2019-2023 | 6% CAGR Projection Over the Next Five Years | Technavio


The global oilfield degassers market size is expected to post a CAGR close to 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global oilfield degrassers market 2019-2023. (Graphic: Business Wire)

Technavio has announced its latest market research report titled global oilfield degrassers market 2019-2023. (Graphic: Business Wire)

The increase in the global oil and gas demand is one of the major reasons for the growth of the market. Global oil and gas consumption is expected to witness considerable growth in the coming years owing to the increase in the demand for energy. The growing demand for energy is attributed to rapid urbanization and large-scale industrialization in developing countries. To meet the rising demand for energy, major oil and gas companies are focusing on increasing their oil and gas E&P projects. This will drive the demand for drilling-related equipment, including degassers, thus, driving market growth.

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As per Technavio, the increase in deep-water and ultra-deep-water upstream projects will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Oilfield Degassers Market: Increase in Deep-Water and Ultra-Deep-Water Upstream Projects

Oil and gas companies have shifted their focus from shallow-water drilling to deepwater and ultra-deepwater resources. Moreover, the rise in the price of crude oil has led to a significant increase in drilling and operations. Oil and gas companies are significantly investing in offshore deepwater and ultra-deepwater drilling projects, which will drive the demand for degassers, thereby driving the growth of the market during the forecast period.

“Apart from the increase in deep-water and ultra-deep-water upstream projects, other factors such as the declining cost of raw materials, and the increase in unconventional E&D activities will have a significant impact on the oilfield degassers market growth during the forecast period,says a senior analyst at Technavio.

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Oilfield Degassers Market: Segmentation Analysis

This market research report segments the global oilfield degassers market by application (onshore and offshore) and by region (North America, Europe, APAC, South America, and MEA).

The North American region led the market in 2018, followed by MEA, APAC, Europe, and South America respectively. The growth of the oilfield degassers market share in North America can be attributed to the rise in oil and gas drilling activities in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200

Source: Business Wire (October 7, 2019 - 4:30 AM EDT)

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