Global Drilling Mud Desander and Desilter Market 2019-2023 | 6% CAGR Projection of the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Oct 30, 2019--
The drilling mud desander and desilter market size is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled global drilling mud desander and desilter market 2019-2023. (Graphic: Business Wire)
The increasing global rig activity is one of the major reasons for the drilling mud desander and desilter market growth. With the recovery of crude oil prices, there has been an increase in onshore and offshore drilling projects, which encouraged oil and gas companies to invest in oil and gas projects to improve profitability. The growth in drilling activities has resulted in an increase in the number of active rigs for both onshore and offshore drilling. This, in turn, has led to an increase in the demand for drilling-related equipment, including desanders and desilters.
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As per Technavio, the advances in solids control equipment 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.
Drilling Mud Desander and Desilter Market: Advances in Solids Control Equipment
Desanders and desilters have undergone several advances to improve the efficiency of the equipment and the process. Desanders traditionally use high erosion-resistant, reaction-bonded silicon carbide ceramics fabrication. However, the development of new fabrication techniques has brought a step-change improvement in desanders. Wellhead desanders are being cast in a few ceramic rings, instead of manually grouting ceramic tiles. As a result, the diameter of the desanders reaches around 700 mm, which results in higher manufacturing efficiency, repeatability, and standardization. Solid control equipment is also improving in terms of size, due to which it is able to cater to the offshore segment efficiently as space availability is a concern in offshore drilling rigs.
“Apart from the advances in solids control equipment, other factors such as the declining cost of raw materials, and the increase in deepwater and ultra-deepwater upstream projects will have a significant impact on the growth of the drilling mud desander and desilter market value during the forecast period,” says a senior analyst at Technavio.
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Drilling Mud Desander And Desilter Market: Segmentation Analysis
This market research report segments the drilling mud desander and desilter market by application (onshore and offshore) and geographic regions (North America, Europe, APAC, South America, and MEA).
The North America region led the market in 2018, followed by MEA, APAC, Europe, and South America respectively. The growth of the drilling mud desander and desilter market share in North America can be attributed to the increase in drilling activities in the US, along with the increase in demand for solids control equipment in drilling facilities.
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Five Forces Analysis
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PUB: 10/30/2019 10:30 AM/DISC: 10/30/2019 10:30 AM