According to a research report "Produced Water Treatment Market Size - Global Forecast to 2029", size 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, which is a byproduct of oil and gas exploration process, requires active treatment to meet environmental regulations and helps in reuse or safe disposal. This produced water is a mixture of injected water, Natural formation water, and any other chemicals used in the exploration and drilling process.
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Key Market Players
- SLB (US),
- Baker Hughes Company (US),
- Siemens Energy (Germany),
- Veolia Environnement SA (France),
- TechnipFMC (UK) among others...
“Asia Pacific”: The fastest growing region
Asia Pacific is the fastest growing region in the produced water treatment market size owing to the region experiencing significant population growth and economic development, leading to a corresponding increase in energy demand. The region has vast untapped offshore reserves, particularly in Southeast Asia. Even though Asia Pacific Oil & gas production witnessed a decline during the pandemic years, it is expected to bounce back during the forecast period owing to growing investment in new projects and expansion of shale gas exploration. These are some of the factors that are augmenting the market growth in the region.
This research report categorizes the Produced water treatment market size by Source, Application, Treatment, and region.
On the basis of source:
- Conventional
- Unconventional
On the basis of application:
- Onshore
- Offshore
On the basis of treatment:
- Primary treatment
- Secondary treatment
- Tertiary treatment
On the basis of region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
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By Source
Based on source, the market size has been split into Conventional and Unconventional. The Conventional segment in the produced water treatment market is anticipated to be the largest because it is experiencing rapid growth due to the increasing exploration and production activities. The conventional segment for produced water treatment is growing due to the increase in established oil and gas fields that require constant maintenance to remain effective.
By Application
Based on Application, the market size has been split into Onshore and Offshore. The Onshore segment in the produced water treatment market is anticipated to be the largest because the onshore drilling operations are generally less expensive compared to offshore projects. The onshore segment experienced considerable growth due to the cost advantages, technological advancements, better infrastructure, and increased exploration and production activities.
By treatment type
This report segments the produced water treatment market size based on various treatment methods: Primary treatment, secondary treatment, and tertiary treatment. Tertiary treatment is expected to be the fastest growing segment during the forecast period due to the usage of advanced methods such as reverse osmosis and advanced oxidation. These processes provide high levels of impurities removal to make the treated water suitable for reuse as portable water as well as in industrial applications.
