LONDON–(BUSINESS WIRE)–Sep 24, 2020–
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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Technavio has announced its latest market research report titled Global Produced Water Treatment Market 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on “Produced Water Treatment Market Analysis Report by Application (Onshore and Offshore), Geography (North America, Europe, MEA, South America, and APAC), and the Segment Forecasts, 2020-2024”. Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/produced-water-treatment-market-industry-analysis
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.