Global Produced Water Treatment Market is anticipated to reach USD 9.79 billion by 2024. Produced water implies the one produced when we get crude gas and oil as a byproduct. Oil and gas reservoirs usually contain water as well as hydrocarbons. Huge volumes of water are produced in oil reservoir as compared to gas reservoir.
The factors that propel the growth of the produced water treatment market include rise in the unconventional oil & gas production, increasing oil to produced water ratio, and rising water scarcity and governing standards. On the other hand, there are factors that may hamper the growth of the market including higher operational and installation costs. The industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Produced water treatment industry may be explored by production type, application, technology, and geography. The market may be explored by production type as Natural gas, and Crude oil. The “Crude oil” segment led the produced water treatment market in 2015 and is anticipated to maintain its dominance by 2024 owing to continuous reduction of crude concentrations in the oil-water produced watercourses.
The key applications that could be explored in the industry include Offshore, and Onshore. The “Onshore” segment led the produced water treatment industry in 2015 and is anticipated to maintain its dominance by 2024 owing to high acceptance rate of management services.
The market could be explored based on technology as Tertiary Separation, Secondary Separation, Primary Separation, and Others. The “Secondary treatment systems” segment led the produced water treatment industry in 2014 and is anticipated to maintain its dominance by 2024.
North America accounted for the major share of the produced water treatment Market Size in 2014 and will continue to lead in the forecast period. The key factor that could be attributed to the growth includes maximum revenue generated from the oil and gas production segment in North America. North America is likely to be followed by Asia-Pacific and Middle East owing to increasing number of onshore surveys.
Some of the key players that fuel the growth of the Produced Water Treatment Industry comprise Alderley plc, Siemens AG, FMC Technologies, MIOX Corporation, CETCO Energy Services, Veolia, Ovivo, Aker Solutions, and Schlumberger Limited, among others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Production Outlook (Revenue, USD Million, 2013 - 2024)
• Crude oil
• Natural gas
Technology Outlook (Revenue, USD Million, 2013 - 2024)
• Primary Separation
• Secondary Separation
• Tertiary Separation
Application Outlook (Revenue, USD Million, 2013 - 2024)
Regional Outlook (Revenue, USD Million, 2013 - 2024)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)
• Saudi Arabia
Research Support Specialist, USA