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Produced Water Treatment Systems Market is expected to reach US$ 4.29 Bn in 2022, likely to surge at a vigorous 5.8% CAGR during the assessment period.
NEWARK, DELAWARE, UNITED STATES OF AMERICA, July 5, 2022 /EINPresswire.com/ — In 2022, the global produced water treatment systems market is expected to be worth approximately US$ 4.29 billion. With increased oil and gas activity around the world, the entire market is expected to develop at a 5.8 percent CAGR between 2022 and 2029, achieving a worth of US$ 6.38 billion by 2029.
FMI has segmented the competitive landscape of the global produced water treatment systems market into treatment systems, mobile systems and rental services, and commissioning and consulting services.
Primary treatment technologies employ basic, such as settling, media filtration, floatation, and biological aerated filtering to separate solids from water. According to FMI’s research, Alderley plc is one of the dominant players in primary treatment technologies.
Secondary treatment technologies involve the use of induced gas floatation, degasser, and membrane separation. Twin Filter BV is a dominant company providing secondary treatment technology in the market.
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The global produced water treatment systems market is estimated to be worth around US$ 4.29 Bn in 2022. With rising oil and gas activities across the world, the overall market is projected to grow at a CAGR of 5.8% between 2022 and 2029, surpassing a valuation of US$ 6.38 Bn by 2029.
Tertiary treatment technologies involve the use of absorption and polishing to separate oil content in produced water. These technologies use a combination of technologies to treat produced water. According to FMI, ProSep, Inc. is the dominant player in tertiary treatment technology.
FMI has analysed the produced water treatment systems market in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In terms of market share, North America is expected to gain 590 BPS during the forecast period. FMI’s analysis revealed that although all three technologies are widely used in North America, tertiary technology was the largest in terms of market revenue, accounting for US$ 574 Mn in 2014. FMI expects the tertiary technology segment to expand at a double-digit CAGR during the forecast period.
Tertiary technology is more effective than both primary and secondary technology, owing to which it is being widely adopted by end-use industries. The tertiary technology segment of North America is expected to gain a whopping 1310 BPS during the forecast period.
The onshore crude oil industry in North America represented 49.14 Bn barrels or nearly 80% of produced water in 2012. FMI expects this to reach 116.29 Bn barrels by the end of 2020.
The Asia Pacific is the second-largest market for produced water treatment systems after North America. The Asia Pacific produced water treatment systems market was worth US$ 960 Mn in 2014; FMI expects it to expand at a CAGR of over 2.8% during the forecast period 2014-2021.
FMI has segmented the produced water treatment systems market based on technology into primary, secondary, and tertiary.
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Leading players in the treatment systems include Siemens Water Technologies, Alderley plc, Frames, Aker Solutions, Aquatech, Schlumberger, FMC Technologies, Veolia, Chetco, Eco-Tec, Thermoenergy, Ecosphere, MIOX, Ovivo, and Global Water Engineering.
Most of these companies are focusing on their USP to consolidate their position in the market. For example, Siemens is focusing on advanced biological wastewater treatment, whereas Aquatech is pushing low CAPEX and OPEX biological processes. Aker Solutions is aiming to appeal to end-use industries by providing end to end engineering solutions, whereas Veolia is known for its offshore produced water expertise.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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