Produced Water Treatment Market by Application (Onshore, Offshore), Source (Conventional, Unconventional), Treatment (Primary treatment, Secondary treatment, Tertiary treatment) and Region - Global Forecast to 2029
The produced water treatment market 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). The rise in the demand for Exploration & production activities, and the need to treat the produced water from contaminants is driving the market.
Scope of the Report
Years Considered for the Study
2021-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Million/Billion)
Segments
By Source, Application, Treatment
Regions covered
Asia Pacific, North America, Europe, Middle East and Africa, and South America
"Conventional: The second fastest growing segment of the produced water treatment market, by source."
Based on source, the produced water treatment market has been split into two types: Conventional and Unconventional. The conventional segment is expected to be the second fastest segment in the market. Conventional resources denote the deposits of hydrocarbons that can be extracted using traditional drilling and production methods. These resources are usually found in geological formations where the hydrocarbons are trapped under relatively high pressure, allowing them to flow to the surface when extracted by a well.
"Primary treatment segment is expected to emerge as the third fastest segment by treatment."
Based on treatment, the produced water treatment market has been segmented into Primary treatment, Secondary treatment, and tertiary treatment. The Primary treatment segment is expected to be the third fastest segment in the market. Primary treatment uses technologies such as hydrocyclones, and dissolved air floatation (DAF) systems because of their effectiveness in removing oil and suspended solids from the produced water. The primary treatment is essential in the process to be more efficient and cost effective.
"North America is expected to be the largest region in the produced water treatment market."
North America is expected to be the largest region in the produced water treatment market between 2024-2029. The market in North America comprises US, Canada, and Mexico. The growth of the produced water treatment market in the North America region is largely supported by the abundant unconventional resources, Increasing Exploration & Production activities, and favorable regulatory environment. North America is home to major oilfield service companies such as Baker Hughes, DuPont, SLB, Nov Inc, and Weatherford. These companies provide a wide range of produced water treatment and services, contributing to the market's growth.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 25%, Tier 2- 25%, and Tier 3- 50%
By Designation: C-Level- 25%, Director Levels- 33%, and Others- 42%
By Region: North America- 25%, Europe- 8%, Asia Pacific- 33%, South America- 17%, and Middle East & Africa- 17%
Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined based on their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The produced water treatment market is dominated by a few major players that have and a large number of smaller players with strong regional presence. The leading players in the produced water treatment market are SLB (US), Baker Hughes Co (US), Dupont (US), Siemens Energy (Germany), Veolia Environnement SA (France), TechnipFMC (UK).
Research Coverage:
The report defines, describes, and forecasts the produced water treatment market, by source, by application, by treatment, for various regions. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the produced water treatment market.
Key Benefits of Buying the Report
Environmental regulations, increased oil and gas production activities, technological advancements, water scarcity concerns are some of the factors driving the produced water treatment market. High treatment costs, volatility in oil prices, and complexity of produced water composition hinder produced water treatment market growth. The Expansion into emerging markets, collaborations and partnerships offer opportunities in this market. Regulatory compliance and market fragmentation are some of the challenges faced in this market.
Product Development/ Innovation: Developments such as the Advanced membrane filtration technologies and electrochemical treatment methods are a pivotal trend in produced water treatment development. Advanced membrane filtration technologies offer high efficiency in removing impurities and filtering clean water for reuse, focusing on both environmental and economic interests. Electrochemical treatment methods are effective in removing heavy metals, oil, and other pollutants from produced water, thus by providing an alternative to traditional chemical treatments.
Market Development: The development of produced water treatment is essential in providing safe and productive extraction of oil and gas during increasing demand periods. Favorable government policies promoting energy security, increasing investments in like oil & gas, advancements in Oilfield Technologies create produced water treatment market growth.
Market Diversification: TechnipFMC signed an agreement with the Island offshore group to acquire a 51% stake in Island offshore's wholly owned subsidiary, Island offshore Subsea AS. Island Offshore Subsea AS provides Riserless Light Well Intervention (RLWI) project management and engineering services for plug & abandonment (P&A), riserless coiled tubing and well completion operations.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like SLB (US), Baker Hughes Co (US), Siemens Energy (Germany), Dupont (US), Veolia Environnement SA (France), TechnipFMC (France) among others in the produced water treatment market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 PRODUCED WATER TREATMENT MARKET SEGMENTATION
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 REGIONAL SCOPE
1.3.4 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
1.9 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 PRODUCED WATER TREATMENT MARKET: RESEARCH DESIGN
2.1.1 PRIMARY AND SECONDARY RESEARCH
2.1.2 SECONDARY DATA
2.1.2.1 Key data from secondary sources
2.1.2.2 List of key secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 Key data from primary sources
2.1.3.2 List of primary interview participants
2.1.3.3 Key industry insights
2.1.3.4 Breakdown of primaries
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 3 PRODUCED WATER TREATMENT MARKET: DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION METHODOLOGY
2.3.1 BOTTOM-UP APPROACH
2.3.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
FIGURE 4 PRODUCED WATER TREATMENT MARKET: BOTTOM-UP APPROACH
2.3.1.2 Demand-side analysis
FIGURE 5 KEY METRICS CONSIDERED TO ANALYZE DEMAND FOR PRODUCED WATER TREATMENT SOLUTIONS
2.3.1.2.1 Demand-side assumptions
2.3.1.2.2 Demand-side calculations
2.3.2 TOP-DOWN APPROACH
2.3.2.1 Approach to arrive at market size using top-down analysis (supply side)
FIGURE 6 PRODUCED WATER TREATMENT MARKET: TOP-DOWN APPROACH
2.3.2.2 Supply-side analysis
2.3.2.2.1 Supply-side assumptions
2.3.2.2.2 Supply-side calculations
2.4 RISK ASSESSMENT
TABLE 1 PRODUCED WATER TREATMENT MARKET: RISK ASSESSMENT
2.5 RESEARCH ASSUMPTIONS
TABLE 2 PRODUCED WATER TREATMENT MARKET: RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.7 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON PRODUCED WATER TREATMENT MARKET
TABLE 3 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON PRODUCED WATER TREATMENT MARKET
3 EXECUTIVE SUMMARY
TABLE 4 PRODUCED WATER TREATMENT MARKET SNAPSHOT
FIGURE 7 NORTH AMERICA TO HOLD LARGEST SHARE OF GLOBAL PRODUCED WATER TREATMENT MARKET IN 2024
FIGURE 8 OFFSHORE SEGMENT TO EXHIBIT HIGHER CAGR IN PRODUCED WATER TREATMENT MARKET, BY APPLICATION, DURING FORECAST PERIOD
FIGURE 9 PRIMARY SEGMENT TO DOMINATE MARKET, BY TREATMENT, BETWEEN 2024 AND 2029
FIGURE 10 CONVENTIONAL SEGMENT TO EXHIBIT HIGHER CAGR FROM 2024 TO 2029
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PRODUCED WATER TREATMENT MARKET
FIGURE 11 RISING OIL AND GAS EXPLORATION AND PRODUCTION TO DRIVE PRODUCED WATER TREATMENT MARKET
4.2 PRODUCED WATER TREATMENT MARKET IN NORTH AMERICA, BY TREATMENT AND COUNTRY
FIGURE 12 PRIMARY SEGMENT AND US TO HOLD LARGEST SHARES OF NORTH AMERICAN PRODUCED WATER TREATMENT MARKET IN 2024
4.3 PRODUCED WATER TREATMENT MARKET, BY APPLICATION
FIGURE 13 ONSHORE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2029
4.4 PRODUCED WATER TREATMENT MARKET, BY TREATMENT
FIGURE 14 PRIMARY SEGMENT TO HOLD LARGEST SHARE OF PRODUCED WATER TREATMENT MARKET IN 2029
4.5 PRODUCED WATER TREATMENT MARKET, BY SOURCE
FIGURE 15 CONVENTIONAL SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2029
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 16 PRODUCED WATER TREATMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Escalating global crude oil and gas production
FIGURE 17 CRUDE OIL PRODUCTION, BY COUNTRY (MT)
FIGURE 18 GLOBAL OIL DEMAND, BY REGION (MB/D), 2019-2028
5.2.1.2 Growing concerns about water scarcity and freshwater management
5.2.1.3 Increasing reliance on hydraulic fracturing process for shale gas production
5.2.2 RESTRAINTS
5.2.2.1 Requirement for high capital investments
5.2.3 OPPORTUNITIES
5.2.3.1 Mounting production of natural gas to address blue hydrogen demand
5.2.3.2 Increasing use of produced water in industrial applications
5.2.3.3 Rising development of shale gas resources
FIGURE 19 SHALE GAS AND OTHER NATURAL GAS PRODUCTION IN SELECTED COUNTRIES, 2015 AND 2040
5.2.4 CHALLENGES
5.2.4.1 High salinity and total dissolved solid levels of produced water
5.2.4.2 Challenges associated with disposal of treated produced water
5.2.4.3 Fluctuating oil & gas prices and economic uncertainties
5.2.4.4 Complexities in developing standardized produced water treatment solutions
*Business Overview, Products/Services/Solutions Offered, Recent Developments, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats might not be captured in case of unlisted companies.