LONDON--(BUSINESS WIRE)--The global produced water treatment market is expected to grow by USD 327 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of about 1%.
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The produced water treatment market is driven by increasing global concerns regarding water scarcity. In addition, the increased produced water volumes in mature oil fields are anticipated to boost the growth of the produced water treatment market.
Rapid global population growth and depleting water resources have increased the demand for water worldwide. According to a United Nations (UN) report in 2018, over 2 billion people across the world do not have access to safe drinking water. Also currently, almost 49 countries are water-stressed, of which 9 are facing water scarcity and 21 are facing absolute water scarcity. This is increasing the awareness regarding water conservation and the protection of water bodies among the population. Also, increasing stringency of regulations regarding environmental protection has compelled companies to plan and adopt technologies to conserve water. All these factors are expected to influence the growth of the global produced water treatment market during the forecast period.
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Major Five Produced Water Treatment Companies:
Baker Hughes Co.
Baker Hughes Co. operates its business through segments such as Oilfield Services, Oilfield Equipment, Turbomachinery & Process Solutions, and Digital Solutions. The company offers a wide range of water treatment solutions. H2prO HD Treatment is one of its key offerings.
Enviro-Tech Systems
Enviro-Tech Systems operates its business through a unified segment. The company offers a wide range of products such as Enviro-Sep Plate Separator, Enviro-Cell, Sumperator, and many others.
General Electric Co.
General Electric Co. operates its business through segments such as Power, Renewable energy, Aviation, and Healthcare. The company offers GE Evaporator and Zero Liquid Discharge Crystallizer for treating produced water.
Minerals Technologies Inc.
Minerals Technologies Inc. operates its business through segments such as Performance Materials, Specialty Materials, Refractories, and Energy Services. The company offers produced water treatment products through its brands CrudeSep, CrudeSorb, Hi-Flow, and Nemoh.
Ovivo Inc.
Ovivo Inc. operates its business through segments such as Drinking Water, Electronics, Municipal Wastewater, Petrochemical, Power, and Others. The company offers a wide range of produced water treatment solutions such as OVIVO SkimTM Skimmer Vessels, OVIVO FloatTM Induced Gas Flotation Units (IGF), Chemical Dosing Systems, among various others.
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Produced Water Treatment Market Application Outlook (Revenue, USD Million, 2020-2024)
- Onshore
- Offshore
Produced Water Treatment Market Geography Outlook (Revenue, USD Million, 2020-2024)
- North America
- Europe
- MEA
- South America
- APAC
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