The manufacturing industry have been the major contributor for the economic growth of the country. The growth in the industry sector is expected to drive the produced water treatment system market. The stable growth of water and sewer sector due to monopolistic business nature and essentiality of the service will also drive the market. South Global countries are witnessing continues development in the manufacturing sector which is expected to drive the produced water treatment system market. The mining industries in Brazil and Chile have been growing at a steady pace since 2010. Produced water treatment system is used extensively in the industrial applications. According to World Bank, the annual percentage growth for industry was 2.353 % in 2013 and it increased to 3.203 in 2015.
The produced water treatment market are used for the treatment of salty water trapped in the reservoir rock and is brought up along with Oil and Gas during production. The produced water treatment are land and offshore with less requirements for installation. The major application of produced water treatment system are residential complexes and industrial sector. Different technology is ised for the treatment of water such as Chemical, physical and Membrane. According to a recent study report published by the Market Research Future, The global market of produced water treatment market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2022).
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Industry/ Innovation/ Related News:-
The key strategies followed by most companies within the global Produced Water Treatment Market are that of new product development.
In 2017, GE Water & Process Technologies launched a new product PROflex for wide range of application such as general industrial, power, drinking water, food & beverage, pharmaceuticals and others. The reverse osmosis was developed to provide cost-effective and easy-to-configure system.
In 2017, Veolia Water Technologies have been given a contract to build an iron removal water treatment plant for providing facility to Senegal’s water utility. This would increase the supply of drinking water to Dakar and its suburbs area.
Global Produced Water Treatment Market – Competitive Analysis:-
With the entry of new industry players in global produced water treatment market, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced technique types in the segment. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. Effective planning is essential in terms of R&D which will enable to continue the upward growth trend.
Some of the key players in the Produced Water Treatment market are Siemens AG, Aker Solutions, Alderley plc. Some of the other noteworthy market players are Schlumberger Limited, CETCO Energy Services
Produced Water Treatment Market – Segmentation:-
The global Produced Water Treatment Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Well Type : Comprises Land and Offshore
Segmentation by Treatment : Comprises Chemical, Physical and Membrane
Segmentation by Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Produced Water Treatment Market: Regional Analysis:-
Being home to the most populous countries of the world such as China and India among others, the dominance of APAC becomes evident in the global produced water treatment system market value. The market has been experiencing rapid growth in the last two years owing to the increasing industrialization, rising preference towards purified water and government initiatives. Another major reason behind APAC leading the global market is that the countries within this region were able to sustain its economy during the global economic crisis of 2008-09 and have been able to showcase continued growth in water treatment production and sales across the globe.
U.S. accounts for the largest market in the North America produced water treatment system. The rising concerns for optimal water usage across all sections of life are driving the market. It has been experienced that increased spending on modernization and up gradation of infrastructure in the country is driving the market. It is one of the major reasons for biggest market for such treatment system and gaining highest revenue growth. Furthermore growing water usage in commercial and institutional sector, increased water conservation movements, focus on recycling and reuse is fuelling the growth of the water storage systems market.
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