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Produced Water Treatment Systems Market Surpassing A Valuation Of US$ 6.38 Bn By 2029: FMI
Future Market Insights (FMI) offers an overview of the key technologies used in produced water treatment systems in its research report. The report titled, “Produced Water Treatment Systems Market: Global Industry Analysis and Opportunity Assessment 2022-2029, forecasts the market to amplify at a compound annual growth rate (CAGR) of over 5.8% during the forecast period.
FMI has segmented the produced water treatment systems market on the basis of technology into primary, secondary, and tertiary.
Primary treatment technologies employ basic, such as settling, media filtration, floatation, and biological aerated filtering to separate solids from water. According to FMI’s research, Alderley plc is one of the dominant players in the primary treatment technologies.
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Secondary treatment technologies involve the use of induced gas floatation, degasser, and membrane separation. Twin Filter BV is a dominant company providing secondary treatment technology in the market.
Tertiary treatment technologies involve the use of absorption and polishing to separate oil content in produced water. These technologies use a combination of technologies to treat produced water. According to FMI, ProSep, Inc. is the dominant player in tertiary treatment technology.
FMI has analysed the produced water treatment systems market in North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America is the most lucrative region in the global produced water treatment systems market, accounting for nearly one-third of the global market revenue. In terms of CAGR, the North America produced water treatment systems market is expected to expand at over 8% during the forecast period 2014-2020.
In terms of market share, North America is expected to gain 590 BPS during the forecast period. FMI’s analysis revealed that although all three technologies are widely used in North America, tertiary technology was the largest in terms of market revenue, accounting for US$ 574 Mn in 2014. FMI expects the tertiary technology segment to expand at a double-digit CAGR during the forecast period.
Tertiary technology is more effective than both primary and secondary technology, owing to which it is being widely adopted by end-use industries. The tertiary technology segment of North America is expected to gain a whopping 1310 BPS during the forecast period.
Onshore crude oil industry in North America represented 49.14 Bn barrels or nearly 80% of produced water in 2012. FMI expects this to reach 116.29 Bn barrels by the end of 2020.
Asia Pacific is the second largest market for produced water treatment systems after North America. The Asia Pacific produced water treatment systems market was worth US$ 960 Mn in 2014; FMI expects it to expand at a CAGR of over 2.8% during the forecast period 2014-2021.
FMI has segmented the competitive landscape of global produced water treatment systems market into treatment systems, mobile systems and rental service, and commissioning and consulting services.
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Leading players in the treatment systems include Siemens Water Technologies, Alderley plc, Frames, Aker Solutions, Aquatech, Schlumberger, FMC Technologies, Veolia, Cetco, Eco-Tec, Thermoenergy, Ecosphere, MIOX, Ovivo, and Global Water Engineering.
Most of these companies are focusing on their USP to consolidate their position in the market. For example, Siemens is focusing on advanced biological wastewater treatment, whereas Aquatech is pushing low CAPEX and OPEX biological processes. Aker Solutions is aiming to appeal to end-use industries by providing end to end engineering solutions, whereas Veolia is known for its offshore produced water expertise.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Future Market Insights
Future Market Insights is the premier provider of market intelligence and consulting services
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, UAE, and has its global delivery center in India. In addition to these, FMI also carries out business development and client engagement through its US and UK offices.
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