Valley Cottage, NY -- (SBWire) -- 11/06/2018 --North America is projected to be the fastest growing market for produced water treatment systems, according to Future Market Insights' (FMI) research report, "Produced Water Treatment Systems Market: Global Industry Analysis and Opportunity Assessment 2014-2020." According to the report, the North America produced water treatment systems revenue, valued at US$ 1,599.4 Mn in 2014, will reach a valuation of US$ 2553.4 Mn by 2020.
On the basis of technology, FMI has segmented the produced water treatment system into primary, secondary, and tertiary.
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Primary technologies involve basic methods to separate solids from water, such as upstream sand removal, whereas secondary treatment involves separating oil from produced water through gas floatation, degasser, and membrane separation. On the other hand, tertiary treatment technology makes use of a combination of both primary and secondary technology.
Onshore crude oil industry in North America represented 49.14 Bn barrels or 79.1% of produced water in 2012. FMI expects this to reach 116.29 Bn barrels, or 70.6% in 2020. On the other hand, offshore natural gas segment is projected to reach a volume of 7.66 Bn barrels by 2020.
Crude oil and natural gas market has a direct impact on the demand for produced water treatment systems. According to FMI's analysis, natural gas production in North America is anticipated to expand at a CAGR of 1.1% during the period 2014-2020, whereas, growth of crude oil production is set to increase at a CAGR of 4.8% between 2014 and 2020.
The produced water treatment systems market in Europe is expected to reach a valuation of US$ 1,191.6 Mn by 2020. FMI estimates the market in Europe to expand at a CAGR of 4.6% during the forecast period. Demand for secondary treatment systems is anticipated to expand at a moderate rate during the forecast period, however, FMI expects it to remain the dominant segment through 2020. On the other hand, stringent regulation on part of the governments in Europe is expected to fuel the development of tertiary treatment technologies in the near future.
FMI estimates the oil and gas production in Europe to increase by 0.23 Bn barrels, however, adoption of renewable energy sources in Europe is anticipated to hamper growth of this market in the future.
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Asia Pacific produced water treatment systems market, valued at US$ 960.7 Mn in 2014, is anticipated to increase at a CAGR of 4.8% during the forecast period and reach a valuation of US$ 1275.2 Mn. In terms of revenue, primary produced water systems technology is expected to be the largest contributor in Asia Pacific by the end of forecast period, owing to the growing number of new produced water treatment installations in the region. According to FMI, the growth of the market in Asia Pacific is expected to be driven by a large number of new installations.
The key stakeholders in the global produced water treatment system market can be broadly categorised into treatment systems, mobile systems and rental service, and commissioning and consulting services. Schlumberger, Cetco, and Miox, Ovivo, and Global Water Engineering are companies that have a presence in all of the above-mentioned three categories.
Know Why ? Produced Water Treatment Systems Market Fuelled by Strong Demand in North America
Produced Water Treatment Systems Market Segmentation By Covered Type - Produced Water End-use; By Onshore reinjection, offshore reinjection and disposal Type - Produced Water Treatment Systems,Primary, secondary and tertiary