Latest News- Produced Water Treatment Market: Onshore is expected to lead the Application segment during 2024-2028

The Produced Water Treatment Market is being driven by Increasing global concerns regarding water scarcity

The Produced Water Treatment Market is expected to grow at a CAGR of 7.06% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2976.8 million. In the global energy sector, the utilization of unconventional oil and gas resources, such as tight oil, shale gas, coalbed methane, and oil from gas hydrates, is experiencing a surge. These resources, which include formations of low permeability like limestone, carbonates, siltstones, and organic-rich rocks, necessitate advanced well completion and stimulation techniques, including hydraulic fracturing and acidizing. The significant increase in unconventional oil and gas production is expected over the next decade. Concurrently, the extensive use of water in unconventional E&P activities necessitates effective water management services to ensure sustainable operations and minimize environmental impact. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Onshore
  • Offshore
• Technology
  • Secondary treatment
  • Primary treatment
  • Tertiary treatment
• Geography
  • North America
    • US
  • Europe
    • Russia
  • Middle East and Africa
  • South America
    • Brazil
  • APAC

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing global concerns regarding water scarcity
• Increased produced water volumes in mature oil fields
• Increase in world energy demand

However, the market also witnesses some limitations, which are as follows:

• Increasing use of renewable energy sources
• Corrosion in produced water storage tanks and pipelines
• Stringent environment regulations for the disposal of produced water

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Market Scope in Produced Water Treatment Market Research Report

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Research Analysis Overview

Produced water, the water co-produced during oil and gas exploration and production activities, has become a significant challenge due to its high content of organic compounds, hydrocarbons, salts, heavy metal particles, mud particles, sediments, oil droplets, and other impurities. This water, often sourced from river streams and oil & gas reservoirs, is a byproduct of industrial activities such as natural gas and crude oil extraction, transportation, and fossil fuel processing. The increasing water scarcity and environmental concerns associated with freshwater usage in production processes have led to the adoption of advanced water treatment technologies. Electrocoagulation and membrane filtration are two such technologies gaining popularity in the produced water treatment market. While electrocoagulation uses electrical energy to precipitate impurities, membrane filtration separates contaminants based on size and molecular weight. Regulatory requirements, population growth, and urbanization further emphasize the need for effective produced water treatment. Energy consumption and cost-effectiveness are crucial considerations in selecting treatment technologies. Despite these challenges, the produced water treatment market is expected to grow due to the increasing demand for water in industrial activities and the need to minimize environmental impact.

Market Research Overview

The industrial machinery, supplies, and component market encompasses businesses involved in the production of industrial machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio's market analysis, the global market size is determined by the consolidated revenue generated by manufacturers supplying equipment for industrial applications. Factors driving growth in this sector include expanding industrial output in process and discrete industries, fueled by increasing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing economies. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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