Produced Water Treatment Market to Reach US$ 10,566.4 Mn by 2026
The global produced water treatment market is projected to grow steadily in forthcoming
years, according to Transparency Market Research (TMR). The produced water
treatment market is reportedly fragmented at present. Top market players account for a
significant share of the global produced water treatment market. Further, regional and
domestic vendors constitute a substantial portion of the market in coming years.
Market players are leveraging technological innovations into their product with the aim of
gaining better market share. For instance, Siemens has invested in secondary and
advanced treatment technologies in the offshore sector to reduce oil spills and discharge
into local water bodies. Further, players are seen focusing on efficiency by introducing
water management services.
Global produced water treatment market vendors are likely to find rich growth
opportunity in regions with high fresh water storage. The vendors in the market are seen
focusing on strategic alliances, partnerships, and collaborations.
Prominent names in the global produced water treatment are Suez S.A., Veolia Water
Technologies, Siemens AG, TechnipFMC plc., and Halliburton.
According to TMR, the global produced water treatment market was estimated to be
worth US$ 5,693.8 Mn in 2017. With a CAGR of 7.2% over the period 2018 to 2026, the
market is likely to reach a value of US$ 10,566.4 Mn by 2026-end.
In terms of value, the produced water treatment industry is expected to grow
considerably over the forecast period in Asia Pacific and Europe. It is estimated that the
market will drive during the forecast period to increase the exploration of oil and gas and
to increase public infrastructure development projects. Increasing investment in offshore
oil and gas exploration and manufacturing also leads to the implementation of produced
water therapy throughout the globe. Increasing the manufacturing volume of oil and gas
in the oil and gas industry is