Albany, NY -- (SBWIRE) -- 02/21/2018 -- 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.
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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.
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.
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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.