The global produced water treatment market is projected to grow steadily in forthcoming years, according to Transparency Market Research (TMR). The produced water treatment market is reportedly fragmented at present. Top market players account for a significant share of the global produced water treatment market. Further, regional and domestic vendors constitute a substantial portion of the market in coming years.
Market players are leveraging technological innovations into their product with the aim of gaining better market share. For instance, Siemens has invested in secondary and advanced treatment technologies in the offshore sector to reduce oil spills and discharge into local water bodies. Further, players are seen focusing on efficiency by introducing water management services.
Global produced water treatment market vendors are likely to find rich growth opportunity in regions with high fresh water storage. The vendors in the market are seen focusing on strategic alliances, partnerships, and collaborations.
Prominent names in the global produced water treatment are Suez S.A., Veolia Water Technologies, Siemens AG, TechnipFMC plc., and Halliburton.
According to TMR, the global produced water treatment market was estimated to be worth US$ 5,693.8 Mn in 2017. With a CAGR of 7.2% over the period 2018 to 2026, the market is likely to reach a value of US$ 10,566.4 Mn by 2026-end.
In terms of value, the produced water treatment industry is expected to grow considerably over the forecast period in Asia Pacific and Europe. It is estimated that the market will drive during the forecast period to increase the exploration of oil and gas and to increase public infrastructure development projects. Increasing investment in offshore oil and gas exploration and manufacturing also leads to the implementation of produced water therapy throughout the globe. Increasing the manufacturing volume of oil and gas in the oil and gas industry is anticipated to drive demand for produced water therapy.
