Expanding their global footprint and signing
strategic cross-border contracts is expected to be the mainstay of
companies aiming for global growth in the produced water treatment
systems market, finds Transparency Market Research in a new study.
Entities such as Schlumberger Water Services, Alderley Plc, and
Siemens Water Technology are actively pursuing the development of
tertiary patented products to steal a march on the competition. These
initiatives will eventually lead to better service and product
differentiation, prompting smaller companies to follow suit.
TMR’s projections show that by 2020, produced water
volumes will surpass the 340-bn barrel mark. This in indicative of a
massive opportunity for companies offering produced water treatment
equipment and services.
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With Produced Water Reinjection Becoming
Customary, Investments in Produced Water Treatment Systems to Rise
Across the world, it is now common practice to
reinject produced water given the stringent government regulations at
play and the overall scarcity of water. This trend is creating
hitherto unexplored opportunities for companies in the produced water
treatment systems market. In 2014, while 68% of the 201.4 bn barrels
of produced water generated worldwide from oil and gas wells was
disposed of, the rest was treated and injected back into oilfields at
onshore and offshore locations.
This trend is expected led to a sizeable increase in
produced water volume worldwide, reaching 340 bn barrels by 2020. At
23% from 2014 through 2020, offshore reinjection is expected to
exhibit the fastest CAGR and will be followed by onshore reinjection.
Besides this high-impact driver, factors such as the
rising ratio of oil-to-produced water and an inclination toward
unconventional oil exploration are driving investments in produced
water treatment systems, observes TMR.
Opportunity for Produced Water Treatment Systems
to Touch US$2.6 Bn by 2020 in North America
Produced water treatment systems are expected to
account for a market worth US$2.6 bn in North America by 2020. North
America is also the clear leader in the global produced water
treatment systems market. With crude oil production in North America
projected to rise steadily through 2020, the demand for produced
water treatment systems in the region is projected to remain strong.
With Asia Pacific and Europe trailing North America,
the two regions collectively comprised 43% of the global produced
water treatment systems market in 2014. The demand for produced water
treatment systems in Latin America is expected to grow substantially
through the forecasting horizon.
Aging Oil Wells Act as Spur to Development of
Highly Efficiency Products and Services
The types of produced water treatment systems can be
broadly classified into primary, secondary, and tertiary. Of these,
secondary systems generated about 38.6% of the total market revenue
in 2012 given the pressing need to cut oil content in produced water.
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“However, the growing
number of tertiary systems-especially the patented offerings
combining the benefits of primary and secondary treatment systems as
a bundled or packaged service-will witness strong adoption in the
near future. So much so, that securing patents on innovative tertiary
systems will lend players a strong edge over their counterparts,”
says a TMR analyst. This will consequently lead to tertiary treatment
systems displaying a 9.1% CAGR from 2014 and 2020 – the highest
among all types of produced water treatment systems.
Produced water treatment
systems represented a global market with a valuation of US$3.78 bn in
2012, which will rise to US$6.16 bn by 2020 at a CAGR of 6.1% between
2014 and 2020.
This analysis is based on
a report, titled, ‘Produced Water Treatment Systems Market - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012
-2020,’ published by Transparency Market Research.
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company’s exclusive blend of quantitative forecasting and trend
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