Produced Water Treatment Market (By Treatment Type: Chemical Treatment, Reverse Osmosis/Membrane Treatment, Biological Treatment, Physical Treatment, Combined Systems, and Others; By Source: Onshore and Offshore; By End Use: Oil & Gas, Industrial, Power Generation, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

The global produced water treatment market is expected to grow at a CAGR of 5.1% over the forecast period 2021 to 2030 and expected to reach US$ 187 billion by 2030.

The rise in water scarcity and ongoing investment in oil & gas exploration are key factors expected to boost the global produced water treatment market. In terms of end use, oil & gas is estimated to be a highly lucrative segment of the global produced water treatment market during the forecast period. Water is used in all stages of oil & gas development, extraction, and processing. Operations may consume water or remove large quantities of water; the water is subsequently utilized for drilling, washing, and processing.

North America dominated the market in 2020, accounting for 46% share of the total revenue. Strong presence of crude oil reserves in the U.S. and Canada is expected to increase the usage of water management services.

Asia Pacific is projected to remain the fastest-growing regional market, expanding at a CAGR of 9% over the forecast period. Implementation of First Shale Gas Policy and Open Acreage Licensing Policy (OALP) by the governments of China and India, respectively will be a key driver over the next few years.

Key Driver

• Produced water can be described as a mixture of organic and several inorganic components that exist in oil & gas reservoirs. Water produced this way is acidic in nature and needs to be treated before it is discharge into river streams or while employing it for reinjection in oil & gas extraction sites.
• Usage of freshwater has increased significantly, owing to the ever-growing population across the globe. Prolonged discharge of oil contained water is polluting existing resources. This is expected to lead to scarcity of freshwater in the near future. Governments of several countries have enacted stringent regulations on environment practices by imposing discharge norms regarding oil concentration level in discharged streams.
• Water acts as a pushing agent for oil & gas (helping oil & gas rise up to the surface). Produced water needs to be treated and reused in order to increase productivity for the process of extraction oil & gas from the well. Various water treatment methods have been introduced owing to an increase in productivity of oil & gas and stringent government norms to control the discharge of produced water directly.
• Demand for produced water treatment is high in countries experiencing scarcity of freshwater. Asia Pacific experiences greater water scarcity problems; therefore, rate of adoption of water treatment methods is considerably high in major countries, such as China and India, in order to deal with scarcity of water.
• More than 60% produced water comes from oilfields. Reusing produced water for re-injection in onshore as well as in offshore operations is expected to propel the produced water treatment market during the forecast period.

Dynamics

The consumption of oil has been rising with the increase in industrialization in various nations. China is a prominent consumer of oil in the world, owing to rapid industrialization. Various companies are supported by initiatives by the Government of China, such as permitting private companies whose net assets are more than $43 Mn to apply for licenses to conduct oil & gas exploration and production in China in order to enhance investment in this sector for prompt recovery from the impact of COVID-19.

The rise in investments in the oil & gas industry due to increase in consumption of oil & gas, globally, has augmented the application of produced water treatment plants in the oil & gas industry. For instance, the Coalition Government (Australia) revealed the 2020 Offshore Petroleum Exploration Acreage Release 100,000 square km of acreage has been released across five basins including, Browse, Northern Carnarvon, Bonaparte, Otway, and Gippsland basins. This is estimated to stimulate investment in the oil & gas industry, along with the demand for produced water treatment applications.

Oil prices have exhibited significant volatility and are fluctuating for the last 2 to 3 years. Consequently, governments of various countries are taking various efforts to cope with rise in oil prices and revive investment in the oil & gas sector.

Recovering from the impact of the COVID-19 pandemic on the oil & gas industry, and governments of several countries are trying to restore the industry by providing various relief packages for the oil & gas sector in their respective countries. Rise in investment in countries in Southern Africa is projected to boost the produced water treatment market during the forecast period. For instance, in January, 2021, Hess Corp, a U.S.-based company allocated US$ 450 Mn to drill 12-15 exploration and appraisal wells on the Stabroek block in Guyana out of US$ 1.9 Bn for overall E&P in the oil & gas sector. This has fueled the demand for water treatment applications significantly.

Key Players

Major players operating in the global produced water treatment market are Siemens Energy AG, Schlumberger Limited, CETCO Energy Services Company LLC, TechnipFMC plc, Halliburton, Ovivo, Veolia, Enviro-Tech Systems, Suez S.A., and Sulzer.

Market Segmentation

Market By Treatment Type

• Chemical Treatment
• Reverse Osmosis/Membrane Treatment
• Biological Treatment
• Physical Treatment
• Combined Systems
• Others

Market By Source

• Onshore
• Offshore

Market By End Use

• Oil & Gas
• Industrial
• Power Generation
• Others

Market  By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global produced water treatment market in order to identify opportunities for stakeholders. The report also provides insightful information about how the global produced water treatment market would expand during the forecast period of 2021 to 2030.

The report offers intricate dynamics about different aspects of the global produced water treatment market, which aids companies operating in the market in making strategic decisions. TMR’s study also elaborates on the significant changes that are anticipated to configure growth of the global produced water treatment market during the forecast period. It also includes key indicator assessment that highlights growth prospects for the global produced water treatment market and estimates statistics related to the market in terms of volume (Million Barrels) and value (US$ Mn).

This study covers detailed segmentation of the global produced water treatment market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global produced water treatment market, wherein various developments, expansions, and winning strategies practiced by these players have been presented in detail.

Key Questions

The report provides detailed information about the global produced water treatment market on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the global market and are looking for innovative methods to create a unique benchmark in the global market so as to help them design successful strategies and make target-driven decisions.

• Which treatment type segment of the global produced water treatment market would emerge as a major revenue generator during the forecast period?
• Which source segment of the global produced water treatment market would emerge as a major revenue generator during the forecast period?
• Which end use segment of the global produced water treatment market would emerge as a major revenue generator during the forecast period?
• How are key market players successfully earning revenues in the global produced water treatment market?
• What would be the Y-o-Y growth trend of the global produced water treatment market between 2021 and 2030?
• What are the winning imperatives of leading players operating in the global produced water treatment market?

Research Methodology

The research methodology adopted by analysts for compiling the report on the global produced water treatment market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts of the global produced water treatment market.

During the primary research phase, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global produced water treatment market.

For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global produced water treatment market.