Rapid Advancements in Mud handling Equipment Market to Fuel Revenues Through 2026
Mud Handling Equipment Market: Introduction
In the oil and gas drilling, efficiency of operation is impaired owing to mud handling problems. To avoid such problems, mud handling equipment are used during the drilling operation. The main purpose of mud handling equipment is to manage losses due to waste without effecting the process and to maintain drilling fluid properties. Mud handling equipment and systems include shale shakers, vacuum degasser, desilter/desanding, mud cleaner, decanter and centrifuges, among others. Generally, in the drilling operation, the pit system is incorporated with the mud handling system in order to get higher yield. The mud handling equipment are designed to yield less cutting to reduce mud dumping, which helps to reduce the cost of the operation. While designing the system, mud handling equipment must have sufficient capacity to process the sand at required drilling rates without overloading, which will help to maintain the efficiency of the system. Use of mud handling equipment varies with the application areas. For instance, if the drilled area is comprised of coarse sand then the shale shaker is used as a mud handling equipment.
Mud Handling Equipment Market: Dynamics
Recovery of the oil & gas industry from the repercussion of crude oil prices, coupled with significant rise in the demand for fuels and petroleum-based products from several end-use industries, have in turn stimulated the exploration and production activities across the globe in order to cater the rising demand. At offshore drilling rigs, the extraction, processing and storage of oil & gas is carried out under the seabed. Offshore rigs are the major source of crude oil and constitute a significant share in the global crude oil production. Thus, with the growing exploration and drilling activities across the globe, the demand for mud handling equipment is expected to increase over the forecast period. In various industries, corrosion is a major issue that cause disastrous effects. In the U.S., corrosion costs around US$ US$ 180 Bn each year. In the oil & gas industry, oxygen, and sulfur often cause corrosion loss during upstream operation. During drilling operation, untreated drilling mud and oxygen contaminated fluid corrodes the pipeline, well casing and drilling equipment as well as the mud handling equipment. Thus, losses due to corrosion lead to frequent repair and replacement of mud handling equipment or its parts. This replacement of mud handling equipment and its added cost is expected to dent the growth of the market.
Mud Handling Equipment Market: Segmentation
On the basis of components, the global mud handling equipment market is segmented into:
- Desilter/ Desanding
- Screen Shale Shaker
- Sand Trap
- Mud Agitator
- Mud Scrubber
On the basis of drilling techniques, the global mud handling equipment market is segmented into:
- On shore
Mud Handling Equipment Market: Regional Outlook
Over the recent past, there has been significant surge in exploration activities in North America, especially in the U.S. The U.S. alone, accounted for around 49% of total oil & gas rigs. In January 2018, the Gulf of Mexico and North Sea had significant offshore rigs, i.e., around 175 rigs and 184 rigs, respectively, which is expected to increase over the forecast period. With this significant growth in oil & gas exploration activities, the demand for mud handling equipment is expected to increase in North America. North America mud handling equipment market is expected to register healthy CAGR growth over the forecast period. In terms demand, Middle East ranked second and is expected to grow significantly over the forecast period. This growth of mud handling equipment market is mainly attributed to growing exploration and drilling activities in GCC Countries, which is expected to drive the demand for mud handling equipment. Currently, around 300+ rigs are present in GCC countries and rig counts are expected to increase with rising demand for oil & gas across the globe. In terms of production, Europe is expected to dominate the global mud handling equipment market. It is expected that the China mud handling equipment market is expected to grow at a healthy CAGR over the forecast period. In Latin America, Mexico is expected to dominate the mud handling equipment market
Mud Handling Equipment Market: Key Participants
Examples of some of the key participants identified across the value chain of the mud handling equipment market include:
- GN Solids Control
- Shaanxi Aipu Machinery Manufacture Co., Ltd
- Russell Oilfield Equipment Company, Inc.
- Double Life Corporation
- TangShan Dachuan Mechanical Equipment Co., Ltd
- Neftegasmash-Technologies” Ltd.
- Russell Oilfield Equipment Company, Inc.
- AKROS LLC