Global Produced Water Treatment Systems Market: Increasing Regulations and Deteriorating Produced Water Quality will Drive Growth
A large volume of water is produced during the extraction of oil and gas. Over the years, there has been an increase in the efforts to treat produced water and convert it into a potential profit stream. Concerns about environmental conservation have also persuaded the industry to focus on produced water treatment systems in an efficient manner.
There are several ways in which oil producers manage produce water. They use polymer gels to block water, or install downhole water separators to separate water from oil and gas. The objective of the oil producers is to treat produced water in a cost-effective manner. Mobile treatment units have emerged as a credible solution for treating produced water, and it is anticipated that mobile rental operators will stand to gain from the opportunities available in this market in the near future.
Global Produced Water Treatment Systems Market will Witness a CAGR of 6.1% through 2020
The global produced water treatment systems market was worth US$ 4.3 Bn in 2014 and it is forecasted that it will witness a 6.1% CAGR through 2020 and reach a valuation of US$ 6.2 Bn. The key drivers for the growth of the global produced water treatment systems market include:
- Increase in regulatory standards
- Rise in oil-to-produced-water ratio
- Rise in unconventional oil and gas production methods
- Deterioration in produced water quality
- Scarcity of water
Out of 201.4 Bn barrels of produced water in 2014, 136.9 Bn barrels were discarded. An estimated 65 Bn barrels were re-injected into onshore and offshore oil fields. As pre-existing oil wells around the world are ageing, the volume of produced water is increasing.
Market Segmentation of the Produced Water Treatment Systems
It is forecasted that onshore re-injection segment of the produced water systems market will witness a 13.4% CAGR and reach 100.3 Bn barrels by 2020. On the other hand, offshore re-injection segment is expected to exhibit a 23% CAGR through 2020 and reach 8.7 Bn barrels. Furthermore, the produced water disposal segment is forecasted to witness a CAGR of 14% and reach 230.9 Bn barrels by 2020.
On the basis of technology, the global produced water treatment systems market is segmented into:
- Primary treatment systems
- Secondary treatment systems
- Tertiary treatment systems
Among these, the tertiary treatment systems is projected to witness the highest CAGR of 9.1% and reach a valuation of US$ 2.2 Bn by 2020. The secondary treatment systems segment is forecasted to witness the second-highest CAGR of 5.3% and reach a valuation of US$ 2.2 Bn by 2020. At 3.8%, the primary treatment systems market is forecasted to witness the slowest growth among all the segments and be worth US$ 1.7 Bn by 2020.
North America Accounts for Over One-third of the Global Produced Water Treatment Systems Market
North America is the key region for the global produced water treatment systems market and accounts for over one-third of the global market. It is anticipated that the region will continue to be the most dominant till 2020.
Considering the opportunities available in the global produced water treatment systems market, a number of new products are being launched consistently. It is projected that manufacturers that develop cost-effective and customised produced water treatment systems will benefit from the growing demand for these products.
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