Produced Water Treatment Systems Market Booming
The global produced water treatment systems market is estimated to grow at a CAGR of 6.1 percent between 2014 and 2020, according to a Future Market Insights report.
According to Global Produced Water Treatment Systems: Market Analysis and Opportunity Assessment, 2014 – 2020, produced water reinjection is becoming the norm in the petroleum industry.
In 2014 alone, 201.4 billion barrels of produced water were generated from oil and gas wells across the globe. Of these, 136.9 billion barrels were disposed of, and over 65 billion barrels were re-injected into oil fields, both onshore and offshore. As resultant, produced water volumes are expected to rise to over 340 billion barrels by 2020.
In addition, offshore reinjection is anticipated to display a fastest CAGR of 23 percent from 2014 to 2020, followed by onshore reinjection at a 13.4 percent.
By technology type, the secondary treatment system segment dominated the global produced water treatment systems market in 2013, accounting for $1.6 billion. The secondary treatment system segment is expected to reach $2.2 billion by 2020, exhibiting a CAGR of 5.3 percent during the forecast period. However, tertiary treatment systems segment is projected to witness fastest CAGR of 9.1 percent over the forecast period.
A crude oil production site in Italy will use GE’s advanced evaporator and zero liquid discharge (ZLD) technology to recycle up to 98 percent of produced water. The installation is slated for completion by the end of this year.
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