Degasser Market

Degasser Market Size (2024 to 2032)

The Global Degasser Market size is estimated at USD 371.52 million in 2023. The global market is expected at USD 383 million in 2024 and estimated to reach a valuation of USD 492.76 million in 2032 growing at a CAGR of 3.20% between 2024 and 2032.

Market Overview

A degasser is employed to remove trapped gas in the drilling fluid, It plays an important role in removing small bubbles that have become wrapped in the liquid film. The worldwide degasser market offers a variety of opportunities for manufacturers with different types of products introduced for different purposes. They can find applications in high-performance liquid chromatography (HPLC) systems and systems, light industry and packaging, gas and oil extraction, heating, ventilation, and air conditioning (HVAC). Additionally, degassers can be employed vitally to improve the reliability and dispensing accuracy of diagnostic and life science instruments.

Market Drivers and Restraints

International call for degasser is predicted to worsen due to high deep-water drilling activity. Such drilling activities require the removal of hydrogen sulfide, carbon dioxide, natural gas, corrosive oxygen, and other entrained gases to prevent the formation of bubbles in the drilling fluids. The liquid films of these fluids trap and surround the bubbles that must be removed for the correct performance of drilling operations. Degassers can help solve this problem by mechanically removing entrained gases from grout systems. They are employed in application areas such as oil and gas extraction, high-performance liquid chromatography, light industry and packaging, air conditioning, and water purification systems. It is also employed to improve the reliability and accuracy of dispensing in the life sciences and diagnostic instrumentation industry. Increased deep-water drilling activity is one of the main drivers of expansion in the worldwide degasser market. Drilling operations require the removal of hydrogen sulfide and carbon dioxide to avoid the formation of bubbles. The increase in oil and gas projects is supposed to drive the expansion of the worldwide degasser market during the outlook period. 

The worldwide degasser market may face a slight setback due to issues related to the disposal and implementation of drilling fluids.

Market Opportunities

With emerging opportunities in the field of drilling fluids, this deterrent is predicted to lose its grip on the global market. Additionally, escalating energy call and the focus on deep-sea reservoirs are predicted to further increase the need for degasser.

Market Challenges

Problems associated with the disposal and implementation of drilling fluids are likely to limit the expansion of the worldwide market.

Impact of COVID-19 on Degasser Market

The oil and gas industry is experiencing its third price crash in 12 years. After the first two crashes, the industry recovered and the status quo continued. This time it is different. The current context combines a supply shock with an unprecedented drop in calls and a worldwide humanitarian crisis. Also, the financial and structural health of the sector is worse than in previous crises. The advent of shale, oversupply, and generous financial markets that neglected limited capital discipline contributed to poor profitability. Today, with prices reaching their lowest level in 30 years and mounting social pressure, leaders feel that change is inevitable. The COVID-19 crisis is escalating what was already shaping up to be one of the industry's most transformative times. At its current course and speed, the industry may now enter an era defined by intense competition, rapid supply response driven by technology, stable or declining call, scepticism from investors, and mounting pressure. from the public and government on the impact on the climate and environment. However, in most scenarios, oil and gas will remain a trillion-dollar market for decades. Given its role in providing affordable energy, it is too important to fail. So, the question of how to create value in the next normal is critical. To change the current paradigm, the industry will need to dig deeper and build on its proud history of bold structural moves, innovation, and safe and profitable operations in the toughest conditions. The winners will be those who take advantage of this crisis to boldly reposition their portfolios and transform their operating models. Companies that will not inevitably restructure or atrophy.

REPORT COVERAGE

Market Segmentation

Degasser Market Analysis By Type

• Vacuum
• Membrane
• Flash
• Others

The vacuum degasser segment is estimated to record the highest CAGR during the conjecture period. It is the most common form of the degassing system employed in the oil and gas industry. It uses a vacuum to release free and dissolved gases into the water and then discharge them through the automatic exhaust valve system. The vacuum degasser offers some technical features like it removes gas from the system and avoiding air resistance to ensure system reliability during normal operation. It also helps eliminate pump cavitation and reduces operating noise, the characteristics of which should increase the call on the degasser.

Degasser Market Analysis By End User

• Manufacturing industries
• Oil and gas
• Plastics
• Others

The oil and gas industry is predicted to contribute a significant share over the foreseen period. A degasser is employed when drilling an oil well to remove gases from the drilling fluid. Many key players are focusing on oil and gas projects to meet the increased energy call that is estimated to drive the call for degasser. In the current market scenario, the oil and gas industry has shifted its focus from shallow water drilling to deep water drilling, which is expected to drive the expansion of the global degasser market.

Market Regional Analysis

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

The North American degasser market is predicted to record a colossal expansion rate in the near future. The Gulf of Mexico has experienced a significant increase in offshore activity, as a result of which call in the North American market is determined to intensify significantly. The market could expect more opportunities as the region is recognized with a large number of shale reserves. Analysts predict that North America will be one of the top geographies in the worldwide degasser market. There are other regions like Asia-Pacific that can raise the hopes of market players on a worldwide platform. In this regard, with different regions and their countries in action, the worldwide market is expected to grow, especially during the conjecture period. One of the crucial factors responsible for an interesting expansion in the Asia-Pacific degasser market could be the growing government support in countries like China and India for oil and natural gas exploration and production. Looking at the myriad of opportunities in Asia-Pacific, the researchers predict that the region will be an attractive market for degasser. Players in the worldwide degasser market could also benefit from accelerated expansion in South and Central America. Countries like Argentina, Venezuela, and Brazil are heavily involved in growing oil and gas production.

The Middle East and Africa region are estimated to grow at a steady CAGR rate during the envisioned period. Degasser is widely accepted in the oil and gas industry and the wind presence of the oil and gas sector in the region is predicted to increase their adoption. Increased offshore activities in the Gulf of Mexico are foreseen to drive expansion in the regional market.

Market Key Players

The global Degasser Market is dominated by some of the most influential leaders such as

1. National Oilwell Varco, M-I Swaco, LLC
2. Mathena, Inc
3. Kosun Machinery Co., Ltd
4. GN Solids Control
5. Derrick Company, Inc
6. Chengdu West Petroleum Equipment Co. Ltd

Market Recent Developments

• IDEX Health and Science launched a revolutionary film breaker to improve HPLC performance. IDEX Health & Science, LLC (IH&S), a world leader in life science fluidics and optics, today introduced its new flat film membrane degasser.
• The motorhome has introduced the latest product, made to delete bubbles in eluents employed in ion chromatography. In chromatography columns, the presence of bubbles can produce an unstable baseline, as the high-pressure pumps employed can transport liquids but not gases, compromising results.