Water Cut Monitors Market worth USD 357.14 million by 2028, registering a CAGR of 5.47% – Report by Market Research Future (MRFR)
New York, Nov. 01, 2021 (GLOBE NEWSWIRE) — Water Cut Monitors Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Water Cut Monitors Market Research Report, by Sector, Application, Location and Region – Forecast till 2028” the market is projected to be worth USD 357.14 million by 2028, registering a CAGR of 5.47% during the forecast period (2021 – 2028)., The market was valued at USD 211.32 million in 2021.
The key industry participants operating in the global water cut monitors market profiled are –
- Weatherford (US)
- Emerson Electric Co (US)
- Schlumberger Limited (US)
- TechnipFMC plc (UK)
- Siemens (Germany)
- Eesiflo (Czech Republic)
- Ametek Inc (US)
- Aquasant Messtechnik AG (Switzerland)
- Haimo Technologies Group Corp (UAE)
- LEMIS Process (US)
- Agar Corporation (UK)
- Sentech AS (Norway)
- Among others.
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Competitive Landscape
Many prominent firms, including Schlumberger Limited, Emerson Electric Co, and Weatherford, are actively pursuing contracts and partnerships with oil and gas industries to provide water cut monitors. Companies in the global water cut monitors market have made significant efforts in research and development to develop new products and enhance their market share. Furthermore, the market is extremely competitive, with all firms continually vying for a larger market share.
Market Research Future’s Review on Water Cut Monitors Market
Multiple Factors to Bolster Market Growth
Water cut monitors are solid-state electronic equipment used to determine the amount of water in an oil emulsion. The water content of crude oil gives operators vital information for controlling water injection rates during drilling. Furthermore, in the downstream sector, a water cut monitor is critical for optimizing de-watering or de-salters. A water meter is an important part of water cut monitoring since it is a highly accurate online analyzer that is inserted in a pipe and can be used as a water cut meter. Water in oil analyzers and water cut analyzers, which are easy to maintain and have the ability to analytically quantify and measure oil in water, are also important components of water cut monitoring.
The increasing requirement and demand for real-time flow monitoring equipment are one of the primary reasons driving the growth of the worldwide water cut monitors market. In addition, economies around the world are boosting refining capacity to satisfy the rising demand for refined products. During the projected period, this is expected to have a beneficial impact on the growth of the worldwide water cut monitors market. Furthermore, many countries rely on oil imports to meet their demand for hydrocarbon products, which is projected to fuel demand for the worldwide water cut monitors market in both exporting and importing countries.
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Market Segmentation
The global water cut monitors market has been segmented on the basis of sector, application, and location.
On the basis of sector, the global water cut monitors market has been segmented into upstream, midstream, and downstream. The upstream segment is projected to hold a larger share during the forecast period.
On the basis of application, the global water cut monitors market has been segmented into well testing, separation vessel, refinery, and others. The separation vessel segment is projected to grow with the highest CAGR during the assessment period as the equipment is used to separate water from crude.
On the basis of location, the global water cut monitors market has been segmented into onshore and offshore. The offshore segment is projected to hold the largest share of the global water cut monitors market owing to the increasing offshore exploration and production activities throughout the globe.
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Regional Analysis
APAC to Rule the Global Market
The Asia Pacific market is the largest in terms of size and is expected to develop the fastest over the forecast period. Rising import activity, particularly in Southeast Asian nations such as South Korea and Japan, as well as increased investment in improving refineries, are important factors predicted to fuel considerable growth in the Asia Pacific water cut monitors market over the forecast period.
Segmentation of Market covered in the research:
Water Cut Monitors Market Research Report Information: by Sector (Upstream, Midstream and Downstream), Application (Well testing, Separation Vessel, Refinery and others), Location (Onshore and Offshore) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2028
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