Application segment performance in the global oil and gas separators market.

The global oil and gas separators market is expected to grow at a CAGR of 2.57% during the forecast period. Based on the application, the global oil and gas separators market has been segmented into onshore and offshore.

The onshore segment includes the market for oil and gas separators, which is registering growth, owing to an increase in onshore oil and gas E&P activities and oil refineries. Upstream oil and gas E&P activities in onshore projects have continuously undergone technological advances that increase oil and gas production. Based on application, onshore E&P projects constitute the leading segment since these projects cost less than offshore projects. Operating conditions in onshore sites are more favorable than those in offshore sites. Therefore, many oil and gas companies engage in onshore E&P activities.

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Shale oil and gas production has steadily increased in the onshore segment and has emerged as an alternative to conventional oil and gas production. Globally, the use of hydraulic fracturing to extract shale oil and gas has increased, with the US being the largest producer of unconventional oil and gas. An increase in E&P activities will have a positive impact on total crude oil production, which will increase the demand for oil and gas separators that are used at processing units. Hence, the onshore segment of the global oil and gas separators market is expected to grow significantly during the forecast period.