According to a new market report published by Credence Research “Global Produced Water Treatment Market– Growth, Future Prospects & Competitive Analysis, 2016 – 2023″, the Global Produced Water Treatment Market is expected to reach US$ 9.2 Bn by 2023, expanding at a CAGR of 6.3% during the forecast period 2016 to 2023.
Browse the full Global Produced Water Treatment Market by Separation Method, Application, Source and Geography – Growth, Future Prospects & Competitive Analysis, 2016 – 2023 report at https://www.credenceresearch.com/report/produced-water-treatment-market
Produced water in oil & gas refers to the water comes out of reservoir during the production of crude oil or gas from the well. Large volumes of water is produced in oil reservoir as compared to gas reservoir. Such water usually contains hydrocarbons and metals. Therefore, needs to be treated before discharge to the surface. Produced water is treated through various methods such as primary separation method, secondary separation method and tertiary separation method. Secondary separation method is widely adopted separation method used for the treatment of produced water.
Produced water treatment market is anticipated to gain thrust with growing environmental concerns over water contamination coupled with stringent government regulation regarding disposal and treatment of produced water. Increasing exploration and production of oil & gas with growing demand for fossil fuel as source of energy across the globe is projected to augment the growth of the produced water treatment market over the forecast period. Moreover, increasing exploration of non-conventional shale gas reserves especially during hydraulic fracturing produces large amount for salt water containing six times salts and other hydrocarbons as compared to normal sea water. Thus, disposal of such water is regulated by stringent policies with the focus to avoid contamination of fresh water this in turn is anticipated to drive the demand for produced water treatment during the forecast period (2016-2023). However, water treatment is seen as the additional cost which adds up to per barrel cost of oil production coupled with high cost for the produced water treatment is expected to hamper the growth of produced water treatment market during the forecast period (2016-2023).
Global produced water treatment market is segmented on the basis of separation method, application, source and geography. By separation method, secondary separation method segment is projected to be the most dominant segment owing to wide adoption of secondary methods in treatment of produced water generated during oil production. Among applications, onshore segment was the most dominant segment accounting for more the 60% revenue share of the global produced water treatment market in 2015. Large number of onshore proven oil reserves is anticipated to augment the growth of the segment during the forecast period. Considering source segment, natural gas segment is anticipated to be the fastest growing segment due to increasing exploration of natural gas reserves along with increasing exploration of non-conventional shale gas, coal bed methane is expected to fuel the growth of the segment over the forecast period (2016-2023).
The key players accounts for major share of the global produced water treatment market. Major players are focusing on increasing their market penetration through mergers and acquisitions along with development of new techniques.
Overall, global produced water treatment market is projected to register high growth over the forecast period (2016-2023).
- Merger & Acquisition
- New techniques development
- Joint ventures and agreements
- Investment in research and development