The global produced water treatment systems market was valued at ~US$ 3.6 Bn in 2018, and is estimated to grow at ~5% Y-o-Y in 2019. According to the findings of a recently published report, the global produced water treatment systems market is estimated to experience significant growth over the forecast period owing to several driving factors, including increasing demand from the oil & gas industry.
While the healthy growth outlook of produced water treatment systems market is prominently attributed to the increasing produced water release from the oil & gas exploration activities, the demand for disposal applications will particularly remain strong over the coming years, says the report.
Effective produced water management has been a longstanding concern, globally, and the operational discharges of produced water from offshore oil & gas platforms primarily remains a continuous contaminant source to surrounding ecosystems. The EIA norms and other regulations compel industry vendors to pull their socks up, which is providing an impetus to the market, according to Study.
MEA’s Market Attractiveness Rising
Regions such as East Asia and South Asia Pacific are expected to hold prominent market shares in terms of value. However, the MEA market is expected to witness lucrative growth in the global produced water treatment systems market during the period of 2019-2029. This growth is propelled by the rapid development in the oil & gas exploration activities in and around MEA countries that includes GCC countries and South Africa, among others. The economic condition of above mentioned MEA countries have been developing positively.
Furthermore, owing to the effects of macroeconomic factors such as growing population, rising oil & gas industry, and rapid industrialization, the confidence of investors and investments in water treatment projects have increased drastically in the MEA region. As a consequence, the oil & gas industry of the MEA region has gained significantly positive momentum over the past few years, and is expected to result in the lucrative growth of the produced water treatment systems market in the MEA region.
On-shore applications currently account for a majority of shares, roughly equating 66%, in the produced water treatment systems market. However, higher growth prospects are estimated for off-shore applications, by the report. The increasing application of produced water treatment systems in disposal application is expected to project lucrative growth of the global produced water treatment systems market by application.
By technology, the tertiary produced water treatment systems segment is expected to hold prominent value shares of the global produced water treatment systems market. This has majorly resulted from the increasing technical advances over the years to eliminate more than 95% contaminants from produced water.
The global market of produced water treatment systems is segmented based on different types of produced water treatment systems, their multiple applications, and regions such as North America, Latin America, Europe, South Asia Pacific, East Asia, and Middle East and Africa. The report highlights some of the prominent market players, who have established themselves as leaders in the global produced water treatment systems market. Some of the examples of prime players in the global produced water treatment systems market are Schlumberger Limited, Minerals Technologies Inc., Frames Group, Halliburton, Suez Environment, Aquatech International LLC, IDE Technologies, Veolia, Aker Solutions, Prosep, Inc., Siemens AG, Alderley plc, and Enhydra Ltd., among others.
The global produced water treatment systems market is significantly consolidated with some players holding prominent shares of the market. These players are offering produced water treatment systems under their popular brands such as Brise, Spinsep, SeaWave, CYCLONIXX, STREAMLINER, and AutoFlot, among others.
SOURCE: Future Marketing Insights