CHICAGO, June 12, 2024 /PRNewswire/ -- Produced Water Treatment Market in terms of revenue was estimated to be worth $10.7 billion in 2024 and is poised to reach $13.4 billion by 2029, growing at a CAGR of 4.7% from 2024 to 2029 according to a new report by MarketsandMarkets.
Produced water, which is a byproduct of oil and gas exploration process, requires active treatment to meet environmental regulations and helps in reuse or safe disposal. This produced water is a mixture of injected water, Natural formation water, and any other chemicals used in the exploration and drilling process.
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Produced Water Treatment Market Scope:
Report Coverage | Details |
Market Revenue in 2024 | $10.7 billion |
Estimated Value by 2029 | $13.4 billion |
Growth Rate | Poised to grow at a CAGR of 4.7% |
Market Size Available for | 2021-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Source, Application, Treatment |
Geographies Covered | Asia Pacific, North America, Europe, Middle East and Africa, and South America |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Use of produced water in industrial processes |
Key Market Drivers | Rising global oil and gas production and growing concerns over water resource management |
By Source, the Conventional segment is estimated to be the largest segment during the forecast period.
Based on source, the produced water treatment market has been split into Conventional and Unconventional. The Conventional segment in the produced water treatment market is anticipated to be the largest because it is experiencing rapid growth due to the increasing exploration and production activities. The conventional segment for produced water treatment is growing due to the increase in established oil and gas fields that require constant maintenance to remain effective.
By Application, Onshore segment is expected to remain largest during the forecast period.
Based on Application, the produced water treatment market has been split into Onshore and Offshore. The Onshore segment in the produced water treatment market is anticipated to be the largest because the onshore drilling operations are generally less expensive compared to offshore projects. The onshore segment experienced considerable growth due to the cost advantages, technological advancements, better infrastructure, and increased exploration and production activities.
By treatment type, Tertiary treatment is expected to grow fastest during the forecast period.
This report segments the produced water treatment market based on various treatment methods: Primary treatment, secondary treatment, and tertiary treatment. Tertiary treatment is expected to be the fastest growing segment during the forecast period due to the usage of advanced methods such as reverse osmosis and advanced oxidation. These processes provide high levels of impurities removal to make the treated water suitable for reuse as portable water as well as in industrial applications.
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Middle East & Africa is expected to be the Second fastest region in the produced water treatment market.
Middle East & Africa is expected to be the second fastest growing region after Asia-Pacific in the produced water treatment market during the forecast period. The region's increasing focus on produced water treatment is due to the Geopolitical stability, Abundant oil and gas reserves, and expanding Exploration & Production activities. The MEA region is home to some of the world's largest oil and gas reserves, particularly in countries like Saudi Arabia, Iran, Iraq, Kuwait, and the United Arab Emirates. The MEA region has significant offshore oil and gas reserves, particularly in the Persian Gulf, Red Sea, and offshore West Africa.
Key Market Players of Produced Water Treatment Industry:
Key players in the global Produced Water Treatment Market include SLB (US), Baker Hughes Company (US), Siemens Energy (Germany), Veolia Environnement SA (France), TechnipFMC (UK). The major strategies adopted by these players include sales contracts, product launches, investments, collaborations, partnerships, and expansions.
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