The report “Solid Control Equipment - Global Trends & Forecast to 2019” defines and segments the global solids control equipment market with an analysis and forecast of the market size. The market will reach $2.65 billion by 2019 with an increase of more than $1 billion during the period 2014 and 2019, at a growing CAGR of 10.0%.
Browse 65 market data tables and 52 figures spread through 171 pages and in-depth TOC on Solid Control Equipment Market - Global Trends & Forecast to 2019.
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North America: Largest market for solids control equipment
North America solids control equipment market is at the forefront when it comes to considering the regulations and policies for the protection of the degradation of the global environment. Further, advancement in technologies in the region has enabled the companies to reduce the fluid losses at a greater extent. Nearly half of the world oil and gas reserves are present in North America, particularly in U.S., which has increased the drilling activities in the region. Further, the region is increasing its activities to explore unconventional resources such as coal bed methane, and shale gas which will increase the demand for solids control equipment. The solids control equipment market in North America is expected to reach $1.23 billion by 2019 from an estimated value of $0.78 billion in 2014, at a CAGR of 9.3%.
Europe & Asia-Pacific: Ranks 2nd & 3rd in the global solids control equipment market
Europe stood at the second position in the global solids control equipment market with a value of $276.6 million in 2013 and is expected to reach a value of $509.2 million by 2019. However, the region is expected to grow at a comparatively slow growth due to political and economic uncertainty.
The Asia Pacific region was responsible for 19% of international drilling activity (outside the US & Canada) in June 2014. There were total of 251 drilling rigs in the region in June 2014, which depicts the increasing demand for solids control equipment. The Asia-Pacific solids control equipment market holds a market share of 13.3% of the global market and is expected to grow at a CAGR of 10.8% in the next five years period.
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Increasing Demand for Solid Control Equipment’s
The technologies that are taking hydrocarbon recovery into new frontiers are moving through the industry. When it comes to solids control equipment, effects are being felt from faster, more efficient rigs, intense, improved fluid designs; and dual-gradient drilling. Companies are pushing development of higher-capacity shakers, bigger centrifuges, better screen designs and streamlined processes.
Also, in order to expand the business in the regions of South America, Africa, and Gulf of Mexico, companies have adopted contracts and agreements as the key strategy to gain traction in solids control equipment market.
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