Global Produced Water Treatment Market Overview
The produced water treatment market is forecast to reach USD 13.4 billion by 2029 from an estimated USD 10.7 billion in 2024, at a CAGR of 4.7% during the forecast period (2024-2029). Produced water treatment is primarily used in Oil and gas wells for the treatment of the water extracted along with the hydrocarbons. The produced water treatment market is growing due to the Increasing exploration & production activities, increased focus on well optimization & productivity.
Key Market Players
Some of the major companies in this market include SLB (US), Baker Hughes Company (US), TechnipFMC plc (UK), Siemens Energy (Germany), DuPont (UK), and Veolia Environment SA (France).
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This report segments the produced water treatment market based on two sources: Conventional and Unconventional. The Unconventional segment in the produced water treatment market is expected to be the fastest growing, as there is a growing production happening in the shale reserves. This segment produces large amounts of produced water which then presents different challenges in the treatment terms due to the chemical additives used in fracking process.
This report segments the produced water treatment market based on treatment into three segments: Primary treatment, secondary treatment, and tertiary treatment. Primary treatment methods typically include techniques like gravity separation, where contaminants are separated based on their densities, and mechanical separation methods such as skimming, filtration, and sedimentation. Primary treatment is expected to be the largest segment in the produced water treatment market because of its crucial role in removing the majority of impurities such as grease, oil, and suspended solids from the produced water.
This report segments the produced water treatment market based on application into two segments: onshore and offshore. The offshore segment in the produced water treatment market is expected to be the fastest growing due to the Increasing energy demand, depletion of onshore reserves and technological advancements. Innovations like Enhanced drilling techniques and Floating production storage and offloading (FPSO) units make offshore process a flexible one, eliminating the need for onshore infrastructure.
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The produced water treatment market is experiencing growth due to increased exploration & production activities, expansion into deepwater and ultra deepwater environments, renewal and redevelopment of aging wells, focus on efficiency and cost reduction, and environmental and regulatory considerations. The rising energy demand causes increasing energy consumption mostly in the emerging markets, which further drives the need for more effective and efficient techniques to meet the demand.
