DUBAI, United Arab Emirates, Jan. 24, 2022 (GLOBE NEWSWIRE) — The world produced water treatment systems market is estimated at approximately US$4.29 billion in 2022. With the increase in oil and gas activities across the globe, the overall market is expected to grow at a CAGR of 5.8% between 2022 and 2029, exceeding a valuation of US$6.38 billion by 2029.
|Estimated size of the produced water treatment systems market in 2022||US$4.29 billion|
|Projected size of the produced water treatment systems market in 2029||US$6.38 billion|
|Historical CAGR of the Produced Water Treatment Systems market (2014-2021)||2.8||%|
|CAGR Based on Produced Water Treatment Systems Market Value (2022-2029)||5.8||%|
Future Market Insights (FMI) offers an overview of key technologies used in produced water treatment systems in its research report. The report entitled “Produced Water Treatment Systems Market: Global Industry Analysis and Opportunity Assessment 2022-2029, predicts the market to expand at a compound annual growth rate (CAGR) of over 5.8% during the forecast period.
FMI has segmented the produced water treatment system market on the basis of technology into primary, secondary and tertiary.
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Primary treatment technologies use basic techniques such as settling, media filtration, flotation and aerated biological filtration to separate solids from water. According to FMI research, Alderley plc is one of the dominant players in primary processing technologies.
Secondary treatment technologies involve the use of induced gas flotation, degasser and membrane separation. Twin Filter BV is a leading company providing secondary treatment technology to the market.
Tertiary treatment technologies involve the use of absorption and polishing to separate the oil content from the produced water. These technologies use a combination of technologies to treat produced water. According to FMI, ProSep, Inc. is the dominant player in tertiary treatment technology.
FMI analyzed the market for produced water treatment systems in North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
North America is the most lucrative region in the global produced water treatment systems market, accounting for almost a third of global market revenue. In terms of CAGR, the produced water treatment systems market in North America is expected to grow over 8% during the forecast period 2014-2021.
In terms of market share, North America is expected to gain 590 bps over the forecast period. IMF analysis found that although all three technologies are widely used in North America, tertiary technology was the most important in terms of market revenue, accounting for US$574 million in 2014. IMF expects that the tertiary technology segment grows at a double-digit CAGR during the forecast period.
Tertiary technology is more efficient than primary and secondary technology, due to which it is widely adopted by end-use industries. North America Tertiary Technology segment is expected to gain a whopping 1310 BPS during the forecast period.
The onshore crude oil industry in North America accounted for 49.14 billion barrels or almost 80% of the water produced in 2012. IMF expects this to reach 116.29 billion barrels by the end of 2021.
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$960 million in 2014; IMF expects it to grow at a CAGR of over 4% over the forecast period 2014-2021.
FMI has segmented the competitive landscape of the global produced water treatment systems market into treatment systems, mobile systems and rental service, and commissioning and consulting services.
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Major players in treatment systems are Siemens Water Technologies, Alderley plc, Frames, Aker Solutions, Aquatech, Schlumberger, FMC Technologies, Veolia, Cetco, Eco-Tec, Thermoenergy, Ecosphere, MIOX, Ovivo and Global Water Engineering.
Most of these companies focus on their USP to solidify their position in the market. For example, Siemens focuses on advanced biological wastewater treatment, while Aquatech pushes low CAPEX and OPEX biological processes. Aker Solutions aims to attract end-use industries by providing end-to-end engineered solutions, while Veolia is known for its offshore produced water expertise.
|Historical data available for||2022-2029|
|Market analysis||Units for volume and US$ Mn for value|
|Key regions covered||North America, Latin America, Europe, East Asia, South Asia Pacific and Middle East & Africa|
|Main countries covered||United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, Poland, China, Japan, South Korea, India, ASEAN, Turkey, Saudi Arabia and South Africa|
|Key Segments Covered||Capacity, technology, application and region|
|Profiled Key Companies||• Siemens Water Technologies
• Alderley plc
• Aker Solutions
• FMC Technologies
• Global Water Engineering.
|Report cover||Market forecasts, company share analysis, competitive intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives|
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About Future Market Insights (IMF)
Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.
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