Global Produced Water Treatment Market, Trends, Analysis, Opportunities, Share and Forecast – 2019-2027
Regulations in consideration of produced water discharge limits are increasing the requirement of technological oil-water separation processes for an enhanced recovery of the oil supports in a higher demand of produced water treatment. The produced water is generated through exploring and production operations involved in the oil and natural gas process. For treating produced water various technologies such as primary and secondary and tertiary separation methods are involved in eliminating oil droplets, sediments, mud particles, heavy metals, salts, hydrocarbons and different impurities that would decrease the quality of the oil & gas offerings. Enhanced discharge of oil contains treated water with excessive use of freshwater is observed as a pollution-causing agent. Thus different countries in the developed region including Germany and the U.S. enforced policies to curb environmental pollution
The demand for Produced Water Treatment is anticipated to expand or exhibit a CAGR of 5.9 % during the forecast period.
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By technology, the Tertiary separation segment is expected to increase in demand during the forecast period.
Tertiary separation segment method of treating produced water is growing at a moderate rate of CAGR during the forecast period. Growing concerns on environment and climatic Changes through BTX (Benzene, toluene, xylene) in oil and gas sector is observed due to increased awareness among the end-users for eliminating the greenhouse gas emissions are contributing to the increase in the demand of tertiary treatment technology.
The Produced water treatment market in North America accounted for the largest share in 2018 and is expected to remain dominant during the forecast period.
The market for produced water treatment in North American has a good demand because of the presence of oil reserves. The region has a good production capacity of crude oil volume in barrels per day by 2027 that would boost the demand of the produced water treatment. There are several regulations imposed by the government in this region to control the pollutant that is caused by oil and gas exploration firms. Countries in this region are focused on offering eco-friendly products to the customers. Regulations imposed in this region are stimulating the demand for the produced water treatment for decreasing pollution and its ill effect on environmental conditions.
The market of Produced water treatment is fragmented thus having a considerable completion in the market among the various advanced technologies offered by respective organizations. Therefore the demand for technologically advanced Produced water treatment is under high demand which could contribute to the organizations in entering various markets globally.
Baker Hughes Ltd., Enviro Tech Systems, LLC, Siemens AG, Schlumberger Ltd, CETCO Oilfield Services, Ovivo Inc., General Electric Company, Veolia Environnement SA, Halliburton Energy Services, Inc, FMC Technologies Ltd. and others.
Impact of COVID-19 on Economy, Industry and Company
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