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Thriving amid water scarcity and regulations, the produced water treatment market, fueled by rising oil & gas activities ensures growth for a sustainable future
NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 17, 2023 /EINPresswire / -- According to a Future
market Insights (FMI) report, the global produced water treatment systems market size is estimated to be worth around US$ 4.29 Billion in 2022. With rising oil and gas activities across the world, the overall market is projected to grow at a CAGR of 5.8% between 2022 and 2029, surpassing a valuation of US$ 6.38 Billion by 2029.
Future Market Insights (FMI) offers an overview of the key technologies used in produced water treatment systems in its research report. The report titled,“Produced Water Treatment Systems Market: Global Industry Analysis and Opportunity Assessment 2022-2029, forecasts the market to amplify at a compound annual growth rate (CAGR) of over 5.8% during the forecast period.
FMI has segmented the produced water treatment systems industry on the basis of technology into primary, secondary, and tertiary.
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Primary treatment technologies employ basic, such as settling, media filtration, floatation, and biological aerated filtering to separate solids from water. According to FMI's research, Alderley plc is one of the dominant players in the primary treatment technologies.
Secondary treatment technologies involve the use of induced gas floatation, degasser, and membrane separation. Twin Filter BV is a dominant company providing secondary treatment technology in the market.
Tertiary treatment technologies involve the use of absorption and polishing to separate oil content in produced water. These technologies use a combination of technologies to treat produced water. According to FMI, ProSep, Inc. is the dominant player in tertiary treatment technology.
FMI has analysed the produced water treatment systems market in North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America is the most lucrative region in the global produced water treatment systems market, accounting for nearly one-third of the global market revenue. In terms of CAGR, the North America produced water treatment systems industry is expected to expand at over 8% during the forecast period 2014-2021.
In terms of market share, North America is expected to gain 590 BPS during the forecast period. FMI's analysis revealed that although all three technologies are widely used in North America, tertiary technology was the largest in terms of market revenue, accounting for US$ 574 Million in 2014. FMI expects the tertiary technology segment to expand at a double-digit CAGR during the forecast period.
Tertiary technology is more effective than both primary and secondary technology, owing to which it is being widely adopted by end-use industries. The tertiary technology segment of North America is expected to gain a whopping 1310 BPS during the forecast period.
Onshore crude oil industry in North America represented 49.14 Billion barrels or nearly 80% of produced water in 2012. FMI expects this to reach 116.29 Billion barrels by the end of 2021.
Asia Pacific is the second largest market for produced water treatment systems after North America. The Asia Pacific produced water treatment systems market was worth US$ 960 Million in 2014; FMI expects it to expand at a CAGR of over 4% during the forecast period 2014-2021.
FMI has segmented the competitive landscape of global produced water treatment systems industry into treatment systems, mobile systems and rental service, and commissioning and consulting services.
“Our findings underscore the increasing demand for efficient and environmentally responsible solutions, positioning these systems as pivotal in addressing the challenges associated with oil and gas production. The study elucidates key trends, technological advancements, and market players shaping this sector, providing invaluable insights for industry stakeholders navigating this dynamic landscape.” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).Top of Form
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Key Players Operating in the Global Produced Water Treatment Systems Industry:
Siemens Water Technologies
Alderley plc
Frames
Aker Solutions
Aquatech
Schlumberger
FMC Technologies
Veolia
Cetco
Eco-Tec
Thermoenergy
Ecosphere
MIOX
Ovivo
Global Water Engineering
Most of these companies are focusing on their USP to consolidate their position in the market. For example, Siemens is focusing on advanced biological wastewater treatment, whereas Aquatech is pushing low CAPEX and OPEX biological processes. Aker Solutions is aiming to appeal to end-use industries by providing end to end engineering solutions, whereas Veolia is known for its offshore produced water expertise.
Produced Water Treatment Systems Industry Segmentation Analysis:
Capacity (thousand bl/day):
Less than 100
100 to 500
Above 500
Technology:
Primary
Secondary
Tertiary
Application:
On Shore
Off Shore
Region:
North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East & Africa (MEA)
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Future Market Insights, Inc.
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