Produced Water Treatment Market to Reap Excessive Revenue by 2026

Transparency Market Research has released a new market report titled "Produced Water Treatment Market (Technology, Source, End-use, and Region) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast: 2018–2026." According to this report, the global produced water treatment market was valued at US$ 5,693.8 Mn in 2017 and is projected to reach US$ 10,566.4 Mn by 2026 at a CAGR of 7.2% from 2018 to 2026.

It has become essential to recover and use produced water generated from oil and gas exploration activities due to the rise in enactment of stringent environmental norms. Newly developed state-of-the-art produced water treatments offer better reliability with efficient results for the energy industry. Produced water is a term used in the oil & gas industry for any water that comes out of an oil or gas reservoir as part of the production process. Oil reservoirs often contain water in large amounts, while gas reservoirs typically have water in small quantities. Environmental stewardship is now becoming a key priority in the industry, especially among major oil producers. Adoption of hydraulic fracturing techniques to extract oil and gas from shale formations leads to generation of surplus produced water. Reinjection of produced water in an onshore geologic formation helps eliminate the risk of earthquakes. This ultimately propels the demand for produced water treatment.

In terms of value, the produced water treatment market in Asia Pacific and Europe is anticipated to expand significantly during the forecast period. Increase in oil and gas exploration activities and rise in government initiatives for infrastructure development of produced water treatment are estimated to drive the market during the forecast period. Rise in investments in the exploration and production of offshore oil and gas is also propelling the adoption of produced water treatment across the world. Upstream activities in the oil & gas industry are expected to boost production volumes of oil and gas, thereby driving the demand for produced water treatment. Discovery of new oil and natural gas reserves, especially in offshore areas of the North Sea, exhibit immense potential for the produced water treatment market.

The global produced water treatment market can be primarily segmented based on technology, source, end-use, and region. In terms of technology, the global produced water treatment market can be classified into primary, secondary, and tertiary. Secondary is a widely used technology for produced water treatment. Based on end-use, the global produced water treatment market can be segregated into onshore and offshore. Increase in global crude oil prices is boosting the demand for produced water treatment. Steady rise in shale oil and gas exploration is creating opportunities for the produced water treatment market. Rise in demand for energy consumption due to the increase in population; and growth in environmental concerns are augmenting the demand for produced water treatment. Many countries across the globe are investing in offshore oil and gas exploration activities. This is driving the demand for produced water treatment across the globe. Secondary systems are required to lower oil content in produced water. Therefore, increase in preference of reinjection is one of the key factors fuelling the secondary technology segment. Reinjection of produced water yields additional oil & gas recovery in the onshore oil & gas projects. It ultimately propels the demand for produced water treatment market.

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Key players in the produced water treatment market are expected to benefit from the formation of strategic alliances with global players. Prominent players operating in the produced water treatment market include Siemens AG, Schlumberger Ltd., Suez S.A., Halliburton, TechnipFMC plc., and Veolia Water Technologies.

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