Produced Water Treatment Market Set for Steady Growth Amid Industry Challenges

PRESS RELEASE
Published February 7, 2024

The global produced water treatment market is poised for steady growth, with projections indicating a positive trajectory until the end of 2030. Market dynamics, including the high demand in the oil and gas pipe industry, favorable government policies, and the increasing need for eco-friendly treatment technologies, are expected to be key drivers.

The global produced water treatment market, valued at USD 7,676.3 million in 2022, is expected to experience a robust CAGR of 7.5% from 2023 to 2030. The market expansion is attributed to rapid urbanization, population growth, increasing water demand, and efforts to combat waterborne diseases. Utilization of cutting-edge technologies, such as oxidation, ceramic micro- and ultrafiltration, media filtration, and adsorption, is anticipated to further drive market growth.

Market Dynamics

The soaring demand for oil and gas, coupled with increased extraction activities, remains a primary driver for the global produced water treatment systems market. Stringent government regulations addressing the environmental impact of produced water disposal and reinjection norms in the petroleum sector are expected to further fuel market growth.

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product Type, Application, End-user, and Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa): https://www.persistencemarketresearch.com/market-research/produced-water-treatment-systems-market.asp

Scarcity of usable water in developing regions, combined with the rising prevalence of land gas drilling, will drive the demand for better water treatment solutions. The projected increase in produced water volumes, reaching nearly 340 billion barrels by 2020, and the ongoing trend of oil-to-produced water ratio will sustain the demand for efficient treatment systems.

Rising unconventional production levels in the oil and gas industry and increased exploration of reserves, both on-shore and off-shore, are crucial factors supporting market growth. Depleting crude oil reserves in key OPEC countries have led to the adoption of alternative sources, promoting the use of produced water treatment systems.

However, challenges such as higher installation and operational costs may hinder the markets long-term growth. Industry leaders are actively addressing concerns related to scaling water treatment technologies.

Segment Analysis

The global produced water treatment market is segmented into primary, secondary, and tertiary treatment systems. In 2015, the secondary treatment systems segment accounted for the largest revenue share, exceeding 38%. While this segment is projected to witness a decline, the tertiary treatment systems segment is expected to thrive at the fastest CAGR of 9.1% over the period from 2015 to 2020.

Regional Analysis

North America is expected to remain the dominant market, constituting over 41% share in terms of revenues by 2020. Europe and Asia Pacific, collectively holding nearly 43% market share in 2015, will continue to be major markets over the forecast period. Latin America, despite a negligible share in 2015, is anticipated to exhibit substantial growth during 2015-2020.

Key Market Players

Prominent companies in the global produced water treatment systems market include Siemens AG, Aker Solutions, FMC Technologies, Inc., Alderley plc, Veolia, Frames Group, CETCO Energy Services, Aquatech International, Eco-Tec, Schlumberger Limited, Ovivo, ThermoEnergy Corporation, Global Water Engineering, Ecosphere Technologies, Inc., and Miox Corporation.

As the market progresses, these players are actively involved in expanding their portfolios and securing new contracts within the oil sector, aligning with the increasing oil prices and the growing demand for advanced water treatment solutions.

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