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Solid Control Equipment Market


Energy & Power
Drilling Equipment

The global solid control equipment market is expected to reach $2.65 billion industry by 2019, with a projected CAGR of around 10.0%, signifying a high demand for solid control equipment in both developed and developing countries.

Solid control equipment’s are drilling equipment to control or separate the undesirable and even harmful solids mixed in drilling fluids. The separation of harmful solids from drilling fluids will contributes to better mud property and meets the increased demand on drilling efficiency by the scientific application and arrangement of solids control equipment.

The increase in the international rig count over the period and growing environmental concern primarily drives the global solid control equipment market. The utilization of solid control equipment enhances the drilling efficiencies by reducing the fluid losses to a large extent. According to the American Petroleum Institute (API), it has been estimated that approximately 1.2 barrels of total drilling waste fluids are generated for every foot drilled. These impacts the overall production of the drilling activity and thus plays a vital role in effective and efficient drilling. North America, Europe and Asia-Pacific are the major regions where solid control equipment constitutes to around 50% of the global demand.

North America: Largest market for solid control equipment

The North American market will see strong growth through 2019 due to robust drilling activity in the region. North America constitutes to more than 45% of the total share in global solid control equipment market. Further, the region is increasing its interests in exploring unconventional resources like, shale gas, coal bed methane and others which will give rise to the demand of solid control equipment in the future years.

The figure below shows the global solid control equipment market share by region in the year 2013.

Global Solid Control Equipment Market Share (Value), by Region, 2013

Solid Control Equipment Market

Source: MarketsandMarkets Analysis

Contracts & Agreements: Key Strategy

Leading companies in the solids control equipment market have focused on contracts & agreements as one of the key strategies. The major reasons behind the widespread acceptance of contracts & agreements as a strategy in this market are, it creates a leading diversified solids control equipment portfolio by adopting the expertise of the renowned companies, and enables market penetration in economies such as U.S., Gulf of Mexico etc. From 2011 to 2014, contracts & agreements have led the market developments, accounting for 42% of the total share.

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