Produced Water Treatment Systems Market Demand And Opportunities
Posted by Pradnya on April 29th, 2021
PMR’s global produced water treatment systems market report for a five-year forecast period 2015-2020 indicates that the market registered a value of US$ 4.6 Bn in 2015, and is likely to witness steady growth by 2016 end.
With rising demand for crude oil and gas, the need for extraction and production has consistently been on the rise since the past decade. This will remain a key factor propelling the demand for effective produced water treatment systems globally. Moreover, developing regions are constantly facing challenges regarding availability of usable water, which is also identified to fuel the market for better, more efficient, and cost-effective water treatment solutions over the next few years.
PMR expects increased volumes of produced water generation by 2020 end. In addition, the market also estimates spiking ratio of oil-to-produced water. These factors are anticipated to collectively drive the market in the near future.
Several governments have been mandating stringent regulatory measures in order to maintain the environmental impact of reuse and disposal of produced water. This will continue to escalate the demand for new water treatment systems. Moreover, reinjection norms of the petroleum industry will continue to boost the market for produced water treatment systems.
The oil and gas industry is consistently observing rising exploration of accessible on-shore and off-shore reserves, which is another important factor foreseen to drive the market growth. Introduction of new water treatment technologies are predicted to support the market post-2016. However, high capital costs associated with installation and operation of produced water treatment systems are likely to remain a barrier to widespread adoption.
On the basis of technology, secondary and tertiary treatment systems segments are identified to be the major market shareholders in 2015. However, tertiary treatment systems segment is expected to emerge faster compared to secondary treatment systems segment. Expanding at an estimated 9.1% CAGR over 2015-2020, tertiary treatment systems segment is projected to account for the largest share of the market by 2020 end.
Based on geography, the global produced water treatment systems market is classified into five regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America will continue to be the largest regional market for produced water treatment systems, attributed to wide acceptance of tertiary treatment technology among end-use sectors. Up from US$ 1.73 Bn registered in 2015, North America will witness a CAGR of over 8% during 2015-2020. Asia Pacific is expected to be the second largest market with a moderate CAGR of 4% estimated over 2015-2020. Europe and APAC will continue to represent lucrative markets, whereas Latin America’s market share is poised to rise up by 2020 end.
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