Produced Water Treatment Systems Market Is Projected To Grow At A CAGR Of 5.8% Between 2022 And 2029

In 2022, the global produced water treatment systems market is expected to be worth approximately US$ 4.29 billion. With rising oil and gas activity around the world, the overall market is expected to grow at a 5.8 percent CAGR between 2022 and 2029, surpassing a valuation of US$ 6.38 billion by 2029.

FMI has divided the global produced water treatment systems market into three competitive landscapes: treatment systems, mobile systems and rental services, and commissioning and consulting services. Primary treatment technologies use fundamental techniques such as settling, media filtration, floatation, and biological aerated filtering to separate solids from water.

According to FMI research, Alderley plc is one of the dominant players in primary treatment technologies.

Induced gas floatation, degassing, and membrane separation are examples of secondary treatment methods. Twin Filter BV is the market leader in secondary treatment technology.

Regionally, North America will continue to lead the produced water treatment systems market, accounting for the largest share of 31.4% in 2022. Presence of leading oil and gas companies, increasing government initiatives and rising oil & gas exploration activities are some of the factors driving the North America produced water treatment systems market.

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Tertiary treatment technologies use absorption and polishing to separate oil from produced water. To treat produced water, these technologies employ a combination of technologies. ProSep, Inc. is the dominant player in tertiary treatment technology, according to FMI.

FMI examined the market for manufactured water treatment systems in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

North America is expected to gain 590 BPS in market share during the forecast period. According to FMI's analysis, despite the fact that all three technologies are widely used in North America, tertiary technology was the largest in terms of market revenue in 2014, accounting for US$ 574 Mn. FMI anticipates that the tertiary technology segment will grow at a double-digit CAGR during the forecast period.

Tertiary technology is more effective than both primary and secondary technology, owing to which it is being widely adopted by end-use industries. The tertiary technology segment of North America is expected to gain a whopping 1310 BPS during the forecast period.

The onshore crude oil industry in North America represented 49.14 Bn barrels or nearly 80% of produced water in 2012. FMI expects this to reach 116.29 Bn barrels by the end of 2020.

The Asia Pacific is the second-largest market for produced water treatment systems after North America. The Asia Pacific produced water treatment systems market was worth US$ 960 Mn in 2014; FMI expects it to expand at a CAGR of over 2.8% during the forecast period 2014-2021.

FMI has segmented the produced water treatment systems market based on technology into primary, secondary, and tertiary.

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Leading players in the treatment systems include Siemens Water Technologies, Alderley plc, Frames, Aker Solutions, Aquatech, Schlumberger, FMC Technologies, Veolia, Chetco, Eco-Tec, Thermoenergy, Ecosphere, MIOX, Ovivo, and Global Water Engineering.

Most of these companies are focusing on their USP to consolidate their position in the market. For example, Siemens is focusing on advanced biological wastewater treatment, whereas Aquatech is pushing low CAPEX and OPEX biological processes. Aker Solutions is aiming to appeal to end-use industries by providing end to end engineering solutions, whereas Veolia is known for its offshore produced water expertise.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.