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The global produced water treatment systems market is predicted to earn an estimated US$2.6 billion by the end of 2026, improving its revenue from around US$2.3 billion reached in 2019, according to QY Research. During the forecast period 2021-2026, it is expected to grow at a CAGR of 2.1%, as per a new market research report by QY Research, titled “Global Produced Water Treatment Systems Market Size, Status and Forecast 2020-2026.”
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Environmental Concerns, Threat of Coronavirus to Augment Demand
The need to maintain hygiene and keep the environment healthy amid the COVID-19 epidemic may increase the demand for produced water treatment systems in future. The release of produced water into the environment could promote bacterial growth, fouling, and further strengthen the spread of dangerous diseases like coronavirus. Enhanced oil recovery is one of the most important applications of produced water. However, produced water first needs to be treated to make it capable for enhanced oil recovery, and this is where produced water treatment systems play a very significant role.
There has been an increase in the number of knowledge-sharing seminars and presentations focusing on produced water treatment solutions for the oil and gas industry. This is anticipated to help players give more exposure to their products sold in the global produced water treatment systems market. In February 2020, Vista Projects announced its participation in the Produced Water Society Seminar 2020.
Onshore Produced Water Treatment Applications to Significantly Add to Growth
The secondary treatment product type segment of the global produced water treatment systems market may show commanding growth in future. Secondary produced water treatment systems are largely used in applications such as total dissolved solids removal, suspended solids removal, induced gas and static floatation, hydrocarbon removal, multivalent ion removal, and hardness removal.
The onshore application segment of the global produced water treatment systems market is predicted to account for a maximum market share due to increasing onshore oil and gas operations. Industries such as oil and gas are already under a lot of pressure to reduce their water usage and environmental footprint. Moreover, water scarcity is a major problem in the world, and such industries are expected to avoid further contributing to the problem. Produced water treatment and management is one of the primary efforts industries can take to mitigate environmental concerns.
North America: The developed region could showcase dominance on the global produced water treatment systems market as the US alone produces billions of barrels of produced water in a year due to the continuous expansion of the oil and gas industry.
Asia Pacific: The developing region may gather pace in the global produced water treatment systems market as water pollution is already a major concern in countries such as India. In addition, the improvement in the ease of doing business in exploration and production sector because of favorable government policies could strengthen the growth of the petroleum and natural gas industries.
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https://www.qyresearch.com/settlement/pre/38b1aae50d192678a2c9c1bfcc55b8f0,0,1,Global-Produced-Water-Treatment-Systems-Market-Size-Status-and-Forecast
The report covers key players operating in the global produced water treatment systems market, including Schlumberger, Jutal, Veolia, Pentair, Halliburton Company, CETCO Energy Services, SUEZ, Expro Group, Siemens, Frames, Exterran Corporation, Offshore Oil Engineering, Ovivo, Parker Hannifin, NOV, and Global Process Systems. Produced water treatment system manufacturers are expected to partner with oil and gas companies and water treatment solution providers to gain competitive edge over their opponents.
About QY Research
QY Research is a leading global market research and consulting company. Established in 2007 in Beijing, China, QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and custom research to help our clients in providing non-linear revenue models and make them successful. We are globally recognized for our expansive portfolio of services.
