The global produced water treatment market is expected to reach USD 9.79
billion by 2024, according to a new report by Grand View Research, Inc. The
technological advancement pertaining to water management in the oil & gas
sector with an aim to not only enhance productivity but also as ensure
environment protection is expected to have a positive impact on the market.
Depleting reserves of crude oil in major OPEC countries including Saudi Arabia
and Indonesia owing to rising capital costs in exploration & production
(E&P) is expected to force oil companies to invest in alternate sources
including tight oil, coalbed methane (CBM) and gas hydrates. This trend is
projected to promote the usage of produced water treatment in E&P
activities of alternative sources including shale gas and tight oil over the
forecast period.
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| Russia Produced Water Treatment Market Revenue, By Technology, 2013 - 2024 (USD Million) |
Offshore application is projected to account for 28.9% of total industry
share by 2024. Numerous companies are focusing on expanding their market share
by focusing on offshore applications. For instance, Siemens AG offers Combosep,
a primary treatment system for offshore applications. This system comprises
flotation units for removal of total suspended solids and oil droplets.
In depth research report
on Produced Water Treatment Market
Further key findings from
the report suggest:
•
Natural gas is projected to grow at a CAGR of 6.2% from 2016 to 2024. In
July 2016, the government of Saudi Arabia announced Vision 2030 with an aim to
increase gas production to 17.8 billion cubic feet by 2030 from 12 billion
cubic feet per day in 2015. The abovementioned plan is expected to play a key
role increasing the use of produced water treatment services over the projected
period.
•
Primary separation technology was valued at USD 1.62 billion in 2015 and
is projected to have a high market potential in hydraulic fracturing in light
of increasing importance of separation equipment in hydrocyclone and corrugated
plate separators.
•
Europe generated a revenue of USD 1.12 billion in 2015 and is expected to
witness significant gains in light of increasing E&P spending for natural
gas in the Barents Sea, (Norway) and Sakhalin fields (Russia).
•
The industry is anticipated to witness significant growth in light of
significant investments by OMCs’, which will open new opportunities for growth
over the forecast period. In July 2016, a research partnership between the
USGS, ONGC, and the JAMSTEC announced the discovery of vast reserves of natural
gas hydrates in the Indian Ocean. This trend is expected to open new industry
avenues for produced water treatment services over the next eight years.
•
Key service providers operating in the market include Haliburton, GE,
Siemens, Weatherford, Veolia, and Baker Hughes. The majority of service
providers are located in North America and Europe in light of easy access to
consumables and calibration equipment in the vicinity. Over the past few years,
the companies including Weatherford and GE have been establishing strategic
business units in developing countries including China and India providing the
solutions to upstream oil & gas sector.
Grand View Research has segmented the global produced water treatment
market by production source, application, and region:
Production Outlook
(Revenue, USD Million, 2013-2024)
•
Crude oil
•
Natural gas
Technology Outlook
(Revenue, USD Million, 2013 - 2024)
•
Primary Separation
•
Secondary Separation
•
Tertiary Separation
•
Others
Application Outlook
(Revenue, USD Million, 2013 - 2024)
•
Onshore
•
Offshore
Regional Outlook
(Revenue, USD Million, 2013 - 2024)
•
North America
o
U.S.
o
Mexico
o
Canada
•
Europe
o
Russia
o
Norway
o
UK
•
Asia Pacific
o
China
o
Indonesia
o
India
•
Latin America
o
Brazil
o
Argentina
o
Venezuela
•
Middle East & Africa (MEA)
o
Saudi Arabia
o
UAE
o
Qatar
o
Algeria
o
Iran
o
Iraq
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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