Solid Control Equipment Market Size and Share: Fueling Growth at a CAGR of 8.62% to Cross $5.74 Billion by 2030

Chicago, IL, May 26, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Solid Control Equipment Market By Location Of Deployment (Offshore And Onshore), By Type (Centrifuge, Vacuum Degasser, Desilter, Desander, Shale Shaker), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030” in its research database.

“According to the latest research study, the demand of global Solid Control Equipment Market size & share in terms of revenue was valued at USD 3.00 billion in 2022 and it is expected to surpass around USD 5.74 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 8.62% during the forecast period 2023 to 2030.”

What is Solid Control Equipment? How big is the Solid Control Equipment Industry?

Report Overview:

The process of eliminating gas and other impurities that have become trapped in drilling rigs requires the utilization of a gear known as solid control equipment. The process makes use of a variety of instruments, including decanter centrifuges, mud cleaners, vacuum degassers, agitators, settling tanks, hydro cyclones, shale shakers, and others. These tools are classified as settling tanks. The use of such equipment assists in the separation of fluids and solids that have been brought to the surface from the well. Additionally, the apparatus is composed of five distinct layers, which include a centrifuge, distiller, vacuum degasser, and mud tank. Eliminating the carbon footprint associated with the disposal and transportation of drilling mud is made easier with the assistance of solid controls. It assists in successfully lowering the project cost, which in turn makes it possible for the drilling fluid to be recycled further and cleansed for further drilling.

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• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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• About 230+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
• Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Solid Control Equipment Market: Growth Factors

The expanding need for waste management is projected to be a driving force behind the expansion of the global market.

As a result of the increased need for solid control equipment throughout the drilling process, the expansion of the global solid control equipment market is anticipated to be driven by this demand. However, there is a growing trend towards environmentally responsible drilling that is gaining popularity among end users, which is greatly increasing the need for the product.

The cost of the project as a whole can be brought down thanks, in part, by the solid control equipment. In addition, the widespread implementation of solid control measures, in conjunction with the significant increase in the application of synthetic fluids, is further bolstering the expansion of the global solid control equipment market. Because the system assists in the removal of dangerous materials and offers an improvement in the quality of the mud, it contributes to an increase in the demand for equipment to control solids.

The increasing urbanization that is occurring in economies that are still in the process of developing is having a beneficial effect on the expansion of the market. The rising rate of urbanization is causing an increase in the demand for water that may be consumed and used, which, once again, calls for the utilization of drilling equipment. A significant aspect that is helping to drive the expansion of the market is the recent rise in the number of rigs operating in international waters. The use of solid control technology in modern drilling techniques helps to reduce fluid losses to a greater extent, which in turn helps to increase the efficiency of the drilling process.

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Report Scope

Solid Control Equipment Market: Segmentation Analysis

The global solid control equipment market may be broken down into three categories: the deployment site, the kind, and the region.

The market is able to be divided into the onshore and offshore categories according to the site of deployment. Because huge corporations and governments are investing more money in offshore projects in order to meet the growing demand for energy throughout the world, the offshore sector of the solid control equipment market currently holds the greatest proportion of the overall industry.

Shale shakers, centrifuges, vacuum degassers, desilters, and desanders are some of the several types of separation equipment that can be found on the market. As a result of the strong demand for shale shakers in the drilling process, it is anticipated that section of the global solid control equipment market would lead the pack throughout the duration of the projected period.

The global Solid Control Equipment market is segmented as follows:

By location of deployment

• Offshore
• Onshore

By Type

• Centrifuge
• Vacuum Degasser
• Desilter
• Desander
• Shale Shaker

Browse the full “Solid Control Equipment Market By Location Of Deployment (Offshore And Onshore), By Type (Centrifuge, Vacuum Degasser, Desilter, Desander, Shale Shaker), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030"-Report at- https://www.zionmarketresearch.com/report/solid-control-equipment-market

Competitive Landscape

Some of the main competitors dominating the global Solid Control Equipment market include - 

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

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Solid Control Equipment market is likely to expand at a CAGR of around 8.62% during the forecast period (2023-2030).                  
• In terms of revenue, the Solid Control Equipment market size was valued at around US$ 3.00 billion in 2022 and is projected to reach US$ 5.74 billion by 2030.
• The growing need for waste control is likely to boost the solid control equipment market size growth.
• Based on the location of deployment, the offshore segment accounts for the largest share of the global market.
• Based on the type, the shale shaker segment is expected to dominate the global market.
• Based on region, North America is expected to dominate the market during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Solid Control Equipment industry?
• What are the main driving factors propelling the Solid Control Equipment Market forward?
• What are the leading companies in the Solid Control Equipment Industry?
• What segments does the Solid Control Equipment Market cover?
• How can I receive a free copy of the Solid Control Equipment Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By location of deployment, By Type, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America to lead the global market during the forecast period

North America holds the largest share of the global solid control equipment market during the forecast period. A major factor impacting the growth of the regional market is the fast-growing oil & gas industry. The growing number of oil & gas projects in countries like Canada, the United States, Mexico, etc., is expected to propel the growth of the regional market exponentially in the coming years. The United States is the major producer of crude oil in the region owing to the robust drilling in the Shale reserves.

The US holds the second-largest tight oil reserves in the world. Also, it is the largest technically recoverable Shale gas reserve in the world. North America is the second largest contributor of crude oil, the first being the Middle East, thereby increasing the demand for such equipment. Moreover, the high number of active drilling rigs will widen the scope of the regional market during the forecast period.

Asia Pacific is expected to be the fastest-growing region in the market due to the growing exploration activities and surge in offshore drilling activities. The growing initiatives of the government for infrastructure development are further anticipated to expand the growth of the regional market.

Europe is expected to see significant growth prospects in the global market due to the rise in the exploration of unconventional resources like methane.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• The Norwegian Petroleum Directorate in June 2020 offered two wildcat wells (34/4-15 S and 34/4-15 A) drilling to Neptune Energy for drilling permits amid the global pandemic. It is expected to be done from the Deepsea Yantai drilling rig.
• The Scottish government in June 2020 offered USD 78 Billion to help the energy sector recover from the negative effects of COVID-19 and the oil & gas price crash.

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/solid-control-equipment-market

FREQUENTLY ASKED QUESTIONS

• What is solid control equipment?
• Which key factors will influence the solid control equipment market growth over 2023-2030?
• What will be the value of the solid control equipment market during 2023-2030?
• What will be the CAGR value of the solid control equipment market during 2023-2030?
• Which region will contribute notably towards the solid control equipment market value?
• Which are the major players leveraging the solid control equipment market growth?

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