Global Solid Control Equipment Market: Overview
Since the beginning, the drilling industry is using chemical compounds and drilling fluids during drilling of boreholes and other drilling activities to enhance the efficiency of the tool. The function of the drilling fluid is to eject waste cuttings from boreholes by applying hydrostatic pressure; it ends the formation of fluid and stops the entry into bore well. The drilling fluids are also referred as drilling blood; it is the most important component during the drilling process. Sometimes, there occurs a rare possibility that a large amount of solid waste gets mixed with fluid and enters into the borehole. The drilling industry is rapidly changing and provides useful waste management equipment such as solid control equipment.
Global Solid Control Equipment Market: Growth Factors
Rising concerns regarding safety and the environmental impact of drilling and waste product management have triggered the global solid control equipment market growth. An abundant amount of drilled solids is produced in the oil and gas wells. It not possible to drill oil and gas well without producing drilled solids. Hence, solid control equipment has become the convenient option that avoids mixing of waste into the drilled materials thus contributing to the growth of the market. Moreover, increased need for improved efficiency of drilling machines may positively enhance the global solid control equipment market. Emergent construction and infrastructure activities in the economically developed countries further drive the growth of the global solid control equipment market.
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Global Solid Control Equipment Market: Segmentation
The global solid control equipment market is classified based on the drilling end use industry as energy, oil and gas industry, groundwater, offshore, mining, onshore, construction, infrastructure, and others. Based on product type, the global market is fragmented as desander, shale shaker, desilter, mud agitator, centrifuge, mud cleaner and others. Geographically, the global market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa.
Global Solid Control Equipment Market: Regional Analysis
The strict regulation implemented regarding environmental concerns and protection from hazardous solid materials boost the global solid control equipment market in North America. Increasing drilling activity in the region also supports the global market growth. North America is expected to witness steady growth in the coming years. Europe accounted for the largest market chunk in the global market. Heavy investments in the field of research by Asia Pacific are expected to drive global solid control equipment market growth. The increase in drilling activities coupled with growing constructional industries in emerging countries such as China and India are further driving the global solid control equipment market. Increasing exploring activity for coal beds, shale gas and methane is expected to provide immense opportunities to the solid control equipment market in the North America.
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Global Solid Control Equipment Market: Competitive Players
Major key players dominating the global solid control equipment market are Baker Hughes, GN Solid Control, Chengdu West Petroleum Equipment Co., Ltd., Secure Energy Services Inc. and Rasson Energy India Private Ltd. Other key players influencing the global market are Schlumberger Limited, Halliburton, Kemtron Technologies Inc. and Derrick Equipment Company.
Global Solid Control Equipment Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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