Market Analysis
The produced water treatment market is projected to grow at a healthy CAGR between 2023- 2027, states the recent Market Research Future (MRFR) analysis. Produced water, simply put, is the complex mixture of inorganic and organic mixed in the formation water that exists in the reservoir along with oil and gas and produced with extracted oil and gas. Membrane, physical, and chemical are the different types of treatment, and offshore and land are the well types.
Various factors are propelling the global produced water treatment market share. According to the recent MRFR report, such factors include increasing use of freshwater, prolonged discharge of oil contained treated water that is polluting the current resources and resulting in scarcity, strict environmental practices and policies by imposing zero discharge or minimized limits of oil concentrations of disposed streams, growing demand for oil and gas, rising extraction activities, and increasing scarcity of usable water in developing countries. Additional factors adding market growth include demand for enhanced water treatment solutions, growing investments by key players to develop better water treatment solutions, and a rising number of partnerships and agreements.
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On the contrary, high operational and installation costs and the impact of the on-going COVID-19 outbreak may limit the global produced water treatment market growth over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global produced water treatment market based on treatment and well type.
By treatment, the global produced water treatment market is segmented into membrane, physical, and chemical.
By well type, the global produced water treatment market is segmented into offshore and land. Of these, the offshore segment will lead the market over the forecast period.
Regional Analysis
By region, the global produced water treatment market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Middle East and Africa (MEA). Of these, North America will lead the market over the forecast period. A strong presence of crude oil reserves in Canada and the US, rise in the use of water management services, constant and huge increment in production and exploration activities in the US, new and unconventional hydrocarbon recovery as well as its growth, strict environmental regulations, increasing development in oil and gas sector, presence of key players, increasing investment, and growing mergers and acquisitions among international and regional players are adding to the global produced water treatment market growth in the region.
The produced water treatment market in the APAC region is predicted to have healthy growth over the forecast period at a high CAGR. Implementation of Open Acreage Licensing Policy and First Shale Gas Policy by the governments in India and China, increasing investments by prominent players in water treatment plants, and rising environmental regulations are adding to the global produced water treatment market growth in the region.
The global produced water treatment market in Europe is predicted to have notable growth over the forecast period. The presence of large oil reserves, key oil reserves in the UK and Norway, and Russia being the largest oil producer, and the region having the eighth largest oil reserves in the world are adding to the global produced water treatment market growth in the region.
The global produced water treatment market in the MEA is predicted to have sound growth over the forecast period. The presence of top players in Argentina and Brazil, coupled with rising oil & gas exploration activities, are adding to the global produced water treatment market in the region.
Key Players
Leading contenders profiled in the global produced water treatment market report include CETCO Energy Services, Schlumberger Limited, Alderley Plc, Aker Solutions, and Siemens AG, among others.
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