According to a Future Market Insights (FMI) report, the global produced water treatment system market was valued at $3.6B in 2018 and is estimated to grow at 5% year-over-year (YOY) in 2019. The global produced water treatment systems market is estimated to experience significant growth over the forecast period of 2019 to 2029, owing to several driving factors, including an increasing demand from the oil and gas industry.
Effective produced water management has been a longstanding concern, and the operational discharges of produced water from offshore oil and gas platforms remains a continuous contaminant source to surrounding ecosystems.
On-shore applications currently account for a majority of shares, roughly equating 66% in the produced water treatment systems market. However, higher growth prospects are estimated for offshore applications. The increasing application of produced water treatment systems in disposal applications is expected to project growth of the global produced water treatment systems market by application.
By technology, the tertiary produced water treatment systems segment is expected to hold prominent value shares of the global produced water treatment systems market. This has majorly resulted from the increasing technological advances over the years to eliminate more than 95% contaminants from produced water.