- Conceptualization of mobile plant for treatment of produced water gaining prominence for agricultural irrigation sites
- Initiatives undertaken by startups to assess viability of DAF for raw water with light contaminant particles widens growth vistas
ALBANY, N.Y., April 20, 2021 /PRNewswire/ -- In a bid to reduce the cost associated with treating and reusing produced water, Office of Fossil Energy, of the U.S. Department of Energy funds several new R&D initiatives and continues to collaborate with industry, state governments, universities, and federal and non-federal agencies. Earlier, for such initiatives, the Department of Energy invested nearly US$100 million for produced water projects, with another aim to transform produced water from being a waste to a resource.
Meanwhile, R&D of produced water is important in the larger interest of development of unconventional oil and natural gas resources of a nation. Produced water that has been treated can stimulate unconventional oil and gas reservoirs, other oil field operations, fire control, vehicle and equipment washing, power generation, and even for non-edible crop irrigation.
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Interestingly, investments by the U.S. Department of Energy for reuse of produced water supports the Water Security Grand Challenge of the nation. The framework of the initiative facilitates transformational technology to meet the global need for safe, secure, and affordable water. In other nations too, the increasing demand for and natural variability of water resources has sought the interest of policy makers, regulators, and society of potential opportunities for the reuse of produced water. Consequently, such extensive interest for produced water treatment with support from regulatory authorities has led to the establishment of a solid produced water treatment market worth more than billion dollars. In the near term, the produced water treatment market is predicted to expand at a CAGR of ~5% from 2021 - 2031.
Produced Water Treatment Market - Key Findings of the Report
Continued Dip in Oil Prices amid COVID-19, Rising Popularity of Electric Vehicles impacts growth curve
Amidst COVID-19, substantial drop in oil prices has indirectly hit the produced water treatment market. Impact on the transportation sector in several developed countries due to the pandemic has led to sudden drop in oil prices, which in turn, has impacted several ancillary industries. In developed countries also such as India, stakeholders are at loggerheads to increase petrol price, in a bid to push the economy from recession.
Besides this, in India, rising environmental consideration and increasing disposable incomes are attracting consumers to own electric vehicles. Such inclinations that will impact the entire oil and gas sector is likely to result in dip for the growth of produced water treatment market.
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Feasibility of Reuse of Produced Water favors Growth
In the light of extensive programs worldwide to save water, government bodies and private companies have come together to brainstorm and deploy maximum techniques to save water at industrial, commercial, and domestic fronts. However, the feasibility of reuse of produced water is largely dependent on the quality of produced water, time duration of generation of produced water, and how it deteriorates over time. To obtain the maximum benefits of such initiatives, oil wells that generate significant volumes of produced water are tapped for reuse due to the logistics involved in storing and transporting water for reuse.
Produced Water Treatment Market - Growth Drivers
- Conceptualization for design of mobile plant to treat produced water for agricultural irrigation gaining prominence.
- Startups gauge potential of dissolved air floatation (DAF) technique for treating raw water with light contaminants, thereby unlocking growth opportunities, in return.
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Produced Water Treatment Market - Key Players
- Siemens energy AG
- CETCO Energy Services Company LLC
- Halliburton
- Veolia
- Suez S.A.
- Schlumberger Limited
- TechnipFMC plc
- Ovivo
- Enviro-Tech Systems
- Sulzer
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