Solid Control Equipment Market Size, Share, Growth Report 2030

Solid Control Equipment Market

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

Category: Heavy Industry Report Format : PDF Pages: 230 Report Code: ZMR-1267 Published Date: May-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 3.00 Billion USD 5.74 Billion 9.71% 2022

Industry Perspective:

The global solid control equipment market size was USD 3.00 Billion in 2022 and is expected to surpass USD 5.74 Billion by the end of 2030. The solid control equipment market is anticipated to grow with a CAGR of 9.71% during the forecast period.

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The report analyzes the global solid control equipment market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the solid control equipment industry.

Solid Control Equipment Market: Overview

Solid control equipment is the tool utilized in the process of removing gas and other contaminants trapped in drilling rigs. There are a number of tools used in the process, like decanter centrifuges, mud cleaners, vacuum degassers, agitators, settling tanks, hydro cyclones, shale shakers, and others. Such equipment helps in the segregation of the solids and fluids from the well surface. Also, the equipment has five layers – centrifuge, distiller, vacuum degasser, and mud tank. Solid controls aid in eliminating the carbon footprint related to the disposal and transportation of the drilling mud. It helps in effectively lowering the project cost, thereby allowing the drilling fluid further be recycled and cleansed for future drilling.

Key Insights

  • As per the analysis shared by our research analyst, the global solid control equipment market size is estimated to grow annually at a CAGR of around 9.71% over the forecast period (2023-2030).
  • In terms of revenue, the global solid control equipment market size was valued at around USD 3.00 Billion in 2022 and is projected to reach USD 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.

Global Solid Control Equipment MarketRequest Free Sample

Solid Control Equipment Market: Growth Drivers

Growing need for waste control is likely to propel the growth of the global market.

There is high demand for solid control equipment during the drilling process which is expected to propel the growth of the global solid control equipment market. However, the surging practice of eco-friendly drilling is gaining traction among end users, thereby boosting its demand significantly.

The solid control equipment also helps in lowering the total cost of the project. Furthermore, the wide adoption of solid control measures, along with the high utilization of synthetic fluids is further accentuating the growth of the global solid control equipment market. The system helps eliminate harmful solids offering improved quality of mud, thereby increasing the demand for solid control equipment. The growing urbanization in the developing economies is positively impacting the growth of the market. The high urbanization is leading to a high demand for drinking and usable water, which again requires this drilling equipment. Also, the surge in the international rig count is a major factor positively impacting the growth of the market. Advanced drilling techniques utilize solid control equipment to lower the fluid losses to a larger extent and improve the drilling efficiency.

Solid Control Equipment Market: Restraints

High capital cost is likely to hamper the growth of the global market.

High investment is one of the major reasons restricting the growth of the global solid control equipment industry. Also, the maintenance is high. Furthermore, the production of high vibrations and challenges in segregating the biological solids is quite complex, which in turn is likely to degrade the growth trajectory of the global market.

Solid Control Equipment Market: Opportunities

Rise in demand for innovative equipment is expected to offer lucrative growth opportunities in the global market.

Due to the rising consequences of traditional equipment, there is surging demand for innovative solutions with advanced features. The companies are boosting their research and development activities to come up with advanced equipment, which in turn is expected to widen the scope of the global solid control equipment market. The tech advancements like Artificial Intelligence, integration of IoT, etc., are complimenting the market growth. Also, the digitization of pipelines, exploration sites, refineries, etc., is anticipated to boost the growth of the global market. The growing concern about waste management is expected to create lucrative opportunities in the market in the forthcoming years.

Solid Control Equipment Market: Challenges

Growing environmental concerns is a big challenge in the global market.

The rising environmental concerns due to the growing drilling activities are a huge challenge in the global solid control equipment industry. High vibration produced by solid control equipment is causing environmental damage, thereby restraining the growth of the global market. Moreover, the socio-political turmoil and challenging tax regulations are further hindering the market growth.

Solid Control Equipment Market: Segmentation

The global solid control equipment market can be segmented into the location of deployment, type, and region.

By location of deployment, the market can be segmented into offshore and onshore. The offshore segment accounts for the largest share of the global solid control equipment market due to the increasing investment by big companies and governments to satisfy the rising demand for energy globally.

By type, the market can be segmented into centrifuge, vacuum degasser, desilter, desander, shale shaker, and others. The shale shaker segment is expected to dominate the global solid control equipment market during the forecast period due to its high demand in the drilling process.

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.

Solid Control Equipment Market: Report Scope

Report Attributes Report Details
Report Name Solid Control Equipment Market Research Report
Market Size in 2022 USD 3.00 Billion
Market Forecast in 2030 USD 5.74 Billion
Growth Rate CAGR of 9.71%
Number of Pages 230
Key Companies Covered 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
Segments Covered By location of deployment, By Type, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Solid Control Equipment Market: 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.

Solid Control Equipment Market: Competitive Analysis

The key players in 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

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

By Region

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

Table Of Content

Methodology

FrequentlyAsked Questions

Solid control equipment is the tool utilized in the process of removing gas and other contaminants trapped in drilling rigs. There are a number of tools used in the process, like decanter centrifuges, mud cleaners, vacuum degassers, agitators, settling tanks, hydro cyclones, shale shakers, and others.

There is high demand for solid control equipment during the drilling process is expected to propel the growth of the global solid control equipment market. However, the surging practice of eco-friendly drilling is gaining traction among end users, thereby boosting its demand significantly. The solid control equipment also helps in lowering the total cost of the project.

The global solid control equipment market size was USD 3.00 Billion in 2022 and is expected to surpass USD 5.74 Billion by the end of 2030.

The global solid control equipment market is anticipated to grow with a CAGR of 9.71% 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 key players in 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.

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