According to this report, the market for produced water treatment systems is estimated to grow at a robust CAGR of 6.1% during the forecast period.
Valley Cottage, NY -- (SBWIRE) -- 01/09/2017 -- Future Market Insights (FMI) announces the release of its new research report titled "Global Produced Water Treatment Systems Market Analysis and Opportunity Assessment 2014–2020". FMI forecasts that growth in the global produced water treatment systems market will open up opportunities for mobile rental system operators and companies that rent out equipment specific to this industry in the near future. This report provides a detailed collation of market data, and offers a snapshot of 2013 market conditions. According to this report, the market for produced water treatment systems is estimated to grow at a robust CAGR of 6.1% during the forecast period.
Offering some insight into the geographical distribution of the market, AbhishekS. said, "North America is the dominant regional segment in the global produced water treatment systems market, thanks largelyto the high revenue generated by the U.S.The North American market accounts forover one-third of the global market."North America's share in the global market is expected to increase during the forecast period.Markets in Asia Pacific and Europeare also expected to expand during the forecast period.
Stringent environmental norms governing the disposal of produced waterin North America are responsible for the dominant market share of this region.Treatment of produced water is mandatory in North America and Europe, resulting in these regions accounting for higher market shares compared to others.
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Produced water reinjection is becoming the norm in the petroleum industry. In 2014 alone, 201.4 billion barrels of produced water were generated from oil and gas wells across the globe. Of these, 136.9 Bn barrels were disposed of, and over 65Bn barrels were re-injected into oil fields, both onshore and offshore.According to Abhishek, the increased generationof produced water is due to the fact that pre-existing oil wells areageing.
"As oil wells become older, oil production begins to drop and more produced water is re-injected to help sustain production,"Abhishek stated, adding, "Produced water volumes are expected to rise to over 340Bn barrels by 2020." Reinjection of produced water, in both onshore and offshore wells, is expected to grow at a double-digit CAGR from 2014 to 2020.Consequently, American oil wells, most of which are old, will be the prime drivers of the market till 2020.
Three types of technology are used in produced water treatment systems: primary, secondary and tertiary. Of these, the secondary treatment systems held the dominant share in the market in 2013. However, tertiary treatment systems are expected to grow at the fastest CAGR during the forecast period. The technology used to treat saline produced water generated offshore will also emerge as a strong contender in the near future.
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The emergent technology in the produced water treatment systems market will have to be more sophisticated, or customised todealwith produced water that is more contaminated. Consequently, the leading players in the global produced water treatment systems market are opting for patented, tertiary and innovative technologies. This is a key trend likely to drive growth of the global produced water treatment systems market.