Solid Control Equipment Market: Introduction
Solid control equipment plays a vital role in drilling rigs. It separates solids in drilling fluids from the well surface. Solid control equipment contains five layers: mud tank, shale shaker, vacuum degasser, desilter, and centrifuge. Shale shaker is used to separate big solids or rocks with diameter above 75μm, while desilter segregates solids with diameter between 15 μm and 44μm. Centrifuge separates suspended solids with 2μm diameter. Often, desander and desilter are combined to make a high-efficiency mud cleaner. A vacuum degasser is used to separate the air. All these layers such as mud tank, shale shaker, vacuum degasser, desilter, and centrifuge are mounted on the top of the mud tank.
Solid Control Equipment Market: Segmentation Overview
Based on application the solid control equipment market can be segmented into onshore and offshore. In terms of type, the market can be classified into shale shakers & screen, mud centrifuges, hydrocyclones, and mud cleaners.
Solid Control Equipment Market: Overview
Major drivers of the solid control equipment market include recent practice of environment-friendly drilling, reduction in the overall well cost, adoption of solids control measures, and utilization of synthetic fluids in drilling fluids. High adoption of solid control equipment for waste control during drilling processes is driving the global solid control equipment market. Rapid urbanization in developing economies and increase in exploration activities globally are expected to boost the demand for solid control equipment. Rise in demand for drinking water across the globe is leading to an increase in number of drilling activities. This, in turn, is propelling the demand for solid control equipment. Environmental concerns are restricting drilling activities, while adverse weather conditions are restraining the solid control equipment market. High capital cost is another major factor hindering the global solid control equipment market. Problems associated with the use of solid control equipment, such as high vibrations and difficulty in separation of biological solids with small density, are expected to restrain the global solid control equipment market. Socio-political turmoil and adverse tax laws are some of the major challenges hindering the market. Arctic drilling and rise in demand for innovation of new products are expected to create opportunities for the solid control equipment market.
Solid Control Equipment Market: Regional Outlook
In terms of region the global solid control equipment market can be segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa. In terms of revenue, North America is expected to account for a considerable share of the market during the forecast period. Increase in exploration activities and rise in offshore drilling activities in this region are driving the solid control equipment market in the North America. Oil & gas reserves are present in North America, particularly in the U.S. This has increased drilling activities in the region. Rise in exploration of unconventional resources such as coal bed methane and shale gas is boosting the demand for solids control equipment. Europe is expected to hold substantial share of the global solids control equipment market. The market in the region is expected to expand at a comparatively sluggish pace due to political and economic uncertainty. The market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Increase in government initiatives for the development of infrastructure in emerging economies such as China and India is fueling the solid control equipment market in Asia Pacific.
Solid Control Equipment Market: Key Players
Key players in the global solid control equipment market include Aker Solutions, BHGE, Clean Harbors, Inc., Derrick Corporation, GN Solids Control, Halliburton, IMDEX LIMITED, Schlumberger Limited, and National Oilwell Varco.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.