Produced Water Treatment Systems Market Is Expected tT Grow At CAGR of ~6% During Forecast Period of 2019-2029

The global oil and gas industry was a major victim of the COVID-19 pandemic due to a drastic slump in energy demand. Such was the impact of the pandemic on the oil industry that benchmark Brent crude oil prices plummeted to a historic low of under US$ 20 per barrel in April, 2020.

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This led to most major oil producing countries such as Saudi Arabia, Russia, Iraq, UAE, etc. resorting to production cuts to stabilise global crude prices. These production cuts still continue. The net result of this downturn for the market was a reduction in demand for produced water treatment systems.

1. The global produced water treatment systems market size in 2018 was ~US$ 6 Bn.
2. The demand for water treatment systems is expected to grow at a CAGR of ~6% during the forecast period of 2019-2029.
3. Upsurge in the demand from the oil and gas industry, and stringent government regulations has been recently driving the sales of produced water treatment systems.
4. Collectively, South Asia Pacific and East Asia are likely to account for half of the revenue shares in the produced water treatment systems industry by the end of 2029.
o South Asia Pacific, attributing to the strong presence of the oil & gas industry, is expected to continue to be a prominent regional market for produced water treatment systems manufacturers.
5. The offshore reinjection segment is expected to remain a prominent application area to invest in, for major players involved in produced water treatment systems.
o The oil & gas industry has witnessed significant growth over the recent past, and rapid oil & gas exploration activities has been particularly noteworthy.
o Noteworthy application potential of produced water treatment systems has been identified in the offshore reinjection category.

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Market Structure Analysis
• The global produced water treatment systems market represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on the development of solid distribution partnerships and joint ventures, targeting a firmer global footprint.
• The market has been relatively moderate in size, which remains a key factor for its dynamic competitive nature.
• Prominent manufacturers of produced water treatment systems are currently prioritizing R&D and new product launches to resonate with the growing adoption of chemical free systems in North America, Europe, and China.
• Portfolio extension is also identified to remain as one of the key developmental strategies adopted by manufacturers of produced water treatment systems.
• For a stronger foothold in target markets, produced water treatment system manufacturers are anticipated to continue to rely on inorganic strategies, such as mergers and acquisitions.
• Profound understanding of the market trends and preferential shifts of end-use segments across several regions are likely to create a bottleneck for prominent players, looking forward to untapped opportunities growth of produced water treatment systems.

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Competitive Analysis:
The key stakeholders in the global produced water treatment system market can be broadly categorised into treatment systems, mobile systems and rental service, and commissioning and consulting services. Schlumberger, Cetco, and Miox, Ovivo, and Global Water Engineering are companies that have a presence in all of the above-mentioned three categories.

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