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.
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.
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 Size||US$ 187 Billion by 2030|
|Growth Rate||CAGR of 5.1% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Treatment, Source, End User|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Siemens Energy AG, Schlumberger Limited, CETCO Energy Services Company LLC, TechnipFMC plc, Halliburton, Ovivo, Veolia, Enviro-Tech Systems, Suez S.A., Sulzer|
Market By Treatment Type
Market By Source
Market By End Use
Market By Region
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.
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.
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.
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