Rising Government regulations regarding Waste Treatment are Accelerating the Produced Water Treatment Market in the North America Region!
- Himanshu Patni
- November 24, 2023
- ENERGY & POWER, NEWS
- Produced Water Treatment Market, Produced Water Treatment Market Share, Produced Water Treatment Market Trends
- 0 Comments
North America registered the highest market share in the Produced Water Treatment market and is expected to register a substantial CAGR in the forecasted period. It is mainly owing to the expansion and upgradation of oil & gas projects taking place in the USA and Canada. Moreover, favorable government policies, regulations, and investments in the oil and gas sector set by various countries are driving the market. For Instance, On February 10, 2023, the U.S. Department of Energy’s Office of Fossil Energy and Carbon Management announced more than $18 million in funding for research and development projects that focus on the characterization, treatment, and management of produced water, or wastewater associated with oil & natural gas development and production.
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Increasing environmental concerns regarding industrial waste is acting as a catalyst for the growth of the produced water treatment market during the projected period. The major market driver of the global produced water treatment market is the strict rules and regulations governing produced water treatment. The water produced must be treated so that it can be used for non-potable purposes. Rising demand for oil and gas in different countries, growth in downstream activities, and economic utilization of shale gas are expected to have a positive impact on the produced water treatment market. Low and volatile oil prices have significantly reduced oil and gas investment. This is a significant constraint for the water treatment market.
As environmental concerns regarding the treatment of wastewater generated from the petroleum industry grow, such trends are leading to increased opportunities for companies in the produced water treatment market. SEM, a UK company providing wastewater treatment solutions, has developed DAF (Dissolved Air Flotation) technology, an alternative clarification process ideal for treating raw water containing light particles such as algae and color-causing organics. It gained popularity after its introduction. Dissolved air flotation is a well-known mud-thickening process that can be used to remove oil and grease from product water. More and more companies are turning to DAF because it helps to achieve low effluent turbidity than settling.
APAC Produced Water Treatment Market Revenue (2020-2030)- USD Bn
· Based on Location, The Produced Water Treatment market is divided into Onshore, and Offshore segments. The Offshore segment acquired a majority share in the Produced Water Treatment market and is expected to showcase a substantial growth rate during the forecast period. Offshore oil exploration and extraction activities are rising in the USA. The USA has numerous old oil wells that need refurbishment, modernization, and upgradation. The increasing offshore oil activities in the world are positively affecting the produced water treatment market during the forecast period.
· Based on Technology, the Produced Water Treatment market is segmented into Physical, Biological, Membrane, Chemical, and other treatment segments. The Physical Treatment segment captured the biggest market share in the Produced Water Treatment market and the Membrane Treatment segment is expected to showcase the fastest growth during the forecast period. The membrane Treatment segment is increasing as companies are using membrane bioreactors to effectively remove the total petroleum hydrocarbons from produced water, resulting in a significant improvement in effluent quality.
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Global Produced Water Treatment Market Segmentation
Market Insight, by Location
· Onshore
· Offshore
Market Insight, by Technology
· Physical Treatment
· Biological Treatment
· Membrane Treatment
· Chemical Treatment
· Others
Market Insight, by Region
· North America
o U.S.A.
o Canada
o Rest of North America
· Europe
o Germany
o Italy
o United Kingdom
o France
o Spain
o Rest of Europe
· APAC
o China
o Japan
o Australia
o India
o Rest of APAC
· Rest of the World
Top Company Profiles
· Siemens AG
· Aker Solutions
· Alderly Plc
· Schlumberger Limited
· CETCO Energy Services
· Veolia Water Technologies
· Aquatech International L.L.C
· Evoqua Water Technologies LLC
· Dow Water & Process Solutions
· Xylem Inc.
