Desanders is Expected to Dominate the Global Offshore Solid Control Equipment Market

Solid control equipment is used in the oil & gas upstream sector to separate the solid particles of the drilling fluid. The activity helps a drilling operator reuse the drilling fluid without disposing of it in the environment.

 

According to TechSci Research report, “Global Offshore Solid Control Equipment Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Offshore Solid Control Equipment is anticipated to project robust growth in the forecast period with a CAGR of  6.22% through 2028, factors such as increasing demand for energy and growing concerns regarding the safety and environmental impact of drilling and waste management are expected to drive the global market. Based on Location of Deployment, Offshore segment is expected to dominate the market during the forecast period. Offshore Solid Control Equipment is used in the oil & gas upstream sector to separate the solid particles of the drilling fluid. The activity helps a drilling operator reuse the drilling fluid without disposing of it in the environment. Offshore Solid Control Equipment consists of several processes. The most widely used are shale shaker, desander, desilter, and vacuum degassers. A centrifuge is another process in the Offshore Solid Control Equipment primarily used to segregate solid particles of around 5 microns. As of December 2022, there are nearly 623 active offshore drilling rigs worldwide. With active participation from countries like Brazil concentrating more on offshore activities due to its high presence of hydrocarbon reserves in offshore locations, the sector is likely to grow significantly during the forecast period. In August 2022, The Nigerian National Petroleum Company (NNPC) Limited, Nigeria's state-owned oil firm, renewed its oil production sharing agreements with international oil companies Shell, Equinox, Chevron, ExxonMobil, China's Sinopec, and Nigerian firm South Atlantic Petroleum for five deep-water blocks. The company aims to produce up to 10 billion barrels of oil over the next 20 years. NNPC jointly and separately owns the OML 128, 130, 132, 133, and 138 blocks. In March 2022, Petronas signed four new Production Sharing Contracts (PSCs) for five offshore blocks – located off the coast of Sabah and Sarawak. Additionally, in February 2021, Petronas signed PSCs for five offshore exploration blocks – SB412, 2W, and X, located off the coast of Sabah, and SK439/SK440 off the coast of Sarawak. Hence, owing to the above factors, the offshore segment is expected to aid the growth of the Offshore Solid Control Equipment market during the forecast period.

 

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Based on Region, North America plays a significant role in the global Offshore Solid Control Equipment market, North America is a leading region with a significant presence in the oil & gas industry. The region is the second-largest contributor of crude oil after the Middle East. North America contributed to around 26.6% of global crude production during 2021.

With the increasing number of oil & gas projects in countries such as the United States, Canada, and Mexico, the region is likely to witness robust growth in the coming years. The United States is one of the largest producers of crude oil and natural gas, accounting for around 18.5% and 23.1% of global production, respectively, in 2021. The United States has one of the largest, technically-recoverable shale gas reserves and the second-largest tight oil reserves in the world. The technological developments in hydraulic fracturing have supported the oil & gas drilling activities in the onshore region, resulting in high demand for solid control equipment.

Moreover, as of January 2023, North America has nearly 771 active drilling rigs using Offshore Solid Control Equipment on both onshore and offshore platforms. With upcoming projects like Constellation in the United States Gulf of Mexico, the country is expected to have further uses of Offshore Solid Control Equipment during the upcoming years. Canada, on the other hand, is the second-largest producer of oil and gas in the region. The oil and gas industry is important to the country’s economy. Oil sands remain its primary source of hydrocarbon production, comprising over 90% of the country's total oil reserves. Therefore, based on the above factors, the North American region is expected to dominate the Offshore Solid Control Equipment market.

 

Key market players in the Global  Offshore Solid Control Equipment Market are following:-

• Schlumberger Limited
• Halliburton Company
• Weatherford International Plc
• Baker Hughes Company
• GN Solids Control
• Derrick Corporation
• KES Energy Equipment Manufacturing Hebei Co. Ltd
• China Petroleum Technology & Development Corporation (CPTDC)
• KOSUN Machinery Co. Ltd
• ORS International Ltd          

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“The global Offshore Solid Control Equipment market is driven by several key factors that collectively contribute to its growth and expansion. Firstly, the increasing demand for energy, particularly in the oil and gas sector, fuels exploration and drilling activities. Offshore Solid Control Equipment is crucial for maintaining drilling efficiency and managing drilling fluids and cuttings, making it indispensable in this industry. Stringent environmental regulations represent another major driver. These regulations require responsible waste management and environmentally friendly drilling practices, propelling the adoption of Offshore Solid Control Equipment to meet compliance standards. Technological advancements enhance the efficiency and effectiveness of solid control equipment, attracting industries seeking to optimize their drilling processes. Additionally, cost reduction and operational efficiency drive companies to invest in solid control systems, as they help minimize drilling fluid costs and reduce environmental impact. The expansion of infrastructure development projects, the growth of horizontal and directional drilling techniques, and the emergence of renewable energy sources like shale gas further boost the demand for solid control equipment. These drivers collectively ensure a promising outlook for the global Offshore Solid Control Equipment market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based  global management consulting firm.

 

Offshore Solid Control Equipment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented Type (Shale Shaker, Desander, Desilter, Vacuum Degasser, Centrifuge, and Other Types), By Region, Competition 2018-2028 has evaluated the future growth potential of Global  Offshore Solid Control Equipment Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global  Offshore Solid Control Equipment Market.

 

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