NEWARK, Del, March 28, 2024 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI), the global produced water treatment system market had an estimated valuation of US$ 4.55 Billion in 2023 and is expected to reach a size of US$ 8.41 Billion by 2034, increasing at a CAGR of 5.72% between 2024 and 2034. By 2024, the market for produced water treatments is poised to reach a valuation of US$ 4.82 Billion.
The produced water treatment system market is mostly driven by the growing need for energy globally, especially from the oil and gas sector. The volume of generated water rises with production, requiring efficient treatment methods to minimize environmental effects and adhere to strict requirements.
The complexity and variety of generated water compositions present a problem in the produced water treatment system business. The wide variety of pollutants and their varying amounts found in generated water sources can make treatment procedures more difficult. This necessitates specialized solutions, which presents problems with cost-effectiveness, efficiency, and efficacy.
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Innovative recycling and reuse technologies present an economic potential in produced water treatment. Given the growing scarcity of freshwater and the legal pressure to reduce its use, companies can benefit from providing creative solutions for the treatment and reuse of generated water for useful industrial or agricultural uses.
Key Takeaways from the Market Analysis:
- The global produced water treatment system market was valued at nearly US$ 3.7 Billion in 2019.
- From 2019 to 2023, the produced water treatment system market experienced a CAGR of 4.83%.
- Over the course of the projection period, the produced water treatment system sector in the United States is expected to develop at a CAGR of 4.60%.
- Produced water treatment system will be widely employed for water capacities ranging from 100 to 500 liters, accounting for 56.70% of the market in 2024.
- By 2024, secondary technology will account for 39.30% of the market and be employed more often in produced water treatment.
“The produced water treatment system market is being driven by a growing emphasis on regulatory compliance and environmental sustainability. Industries are investing in effective treatment solutions to limit pollution and guarantee standard compliance as a result of strict laws and increased public awareness of environmental problems,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape:
Leading companies are focusing on innovation to lower costs and increase treatment efficiency while maintaining adherence to strict environmental standards. In order to deliver adaptable and scalable solutions for a range of industrial applications, they are investigating innovative approaches including decentralized systems and transportable treatment units. Strategic alliances and collaborations are also being sought in order to increase market reach and capitalize on expertise.
Innovative technologies like artificial intelligence and nanotechnology are being used by startups in the produced water treatment system market to create affordable and environmentally friendly treatment options. In order to provide adaptable and scalable solutions for several sectors, they are concentrating on modular and decentralized systems. Various startups are actively looking to collaborate with well-established businesses in order to push innovation and expand their market reach.
Key Developments:
- In 2023, with the founding of a new firm to assist project execution in Poland as well as numerous locations in Norway and globally, Aker Solutions plans to expand its footprint in Poland. With decades of experience working with Polish yards and engineering firms, Aker Solutions will use its current presence in Poland to launch its new business, Aker Solutions Poland Sp. z o.o.
Key Companies Profiled:
- Siemens Water Technologies
- Alderley plc
- Frames
- Aker Solutions
- Aquatech
- Schlumberger
- FMC Technologies
- Veolia
- Cetco
- Ecosphere
- Thermoenergy
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More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the produced water treatment system market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the produced water treatment system market, the market is segmented on the basis of capacity (less than 100, 100 to 500, above 500), technology (primary, secondary, tertiary), application (on shore, off shore), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East & Africa).
Produced Water Treatment System Market Segmentation Analysis:
By Capacity:
- Less than 100
- 100 to 500
- Above 500
By Technology:
- Primary
- Secondary
- Tertiary
By Application:
- On Shore
- Off Shore
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
About the Industrial Automation Division at Future Market Insights
The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one Billion+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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