Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
The Demand for Produced Water Treatment is Anticipated to Expand at a CAGR of 5.9 % During the Forecast Period.
Strict regulations regarding produced water discharge limits are leading the necessity of technologically advanced oil-water separation in order to enhance the efficiency in recovering the oil. It is generated from the exploration and production operation of oil and natural gas procedures. Treating produced water includes the usage of different primary and secondary and tertiary separation processes in order to eliminate the oil droplets, sediments, mud particles, heavy metals, salts, hydrocarbons and other various impurities. Increased discharge of oil containing treated water and excessive use of freshwater is projected to increase pollution of current resources available that would cause scarcity problems in the near future. Therefore various governments in developed regions such as Germany and The U.S. had imposed regulatory policies and practices in order to decrease environmental pollution. This would substantially contribute to the zero discharge of concentrated oil.
The decreased adoption rate in the technological process in the oil and gas sector among the developing and developed nations such as India, China, and Indonesia, etc. This is observed due to the lack of regulatory policies that could eliminate such contaminants and are encouraging the produced water treatment demand. This is significantly observed among the energy sectors that are having a substantial amount of discharge of these pollutants is a challenge to organizations in implementing the produced water treatment facilities globally. Moreover, there is a significant oil recovery by the countries such as Russia, Venezuela, and UAE are anticipated for higher adoption of produced water treatment facilities. Increasing demand for produced water treatment could stimulate the market in treating produced water and its services. The water treatment physically in treating chemical water and membrane water are the major procedures in treating the produced water worldwide.
By Technology, the Tertiary Separation Segment is Expected to Increase in Demand During the Forecast Period.
The most important method of treating produced water is through the application of the tertiary separation technology segment that is expanding at a moderate rate of CAGR during the forecast period. Increased concerns about the environment and climatic change over BTX (Benzene, toluene, xylene) of the oil and gas industry are because of a rise in the awareness in consideration to eliminate the greenhouse gas emissions. Such factors are anticipated to have a considerable role for the enhanced use of tertiary treatment technology.
The Produced Water Treatment Market in North America Accounted for the Largest Share in 2019 and is Expected to Remain Dominant during the Forecast Period.
The North American market has substantial oil reserves and is having a potential for increasing the market demand for Produced water treatment. Moreover, there could be a significant production of crude oil in barrels per day by 2027 in this region. The region has imposed considerable government policies that are in regulating the pollutants caused by the oil and gas exploration organizations. These countries in North America have considerably focused on offering environment-friendly products to the end-users. Such limitations in this region are propelling the growth of the produced water treatment market due to an increased regulatory policy to reduce the pollution and its adverse impact on the environmental conditions.
The market of Produced water treatment is fragmented thus having a considerable completion in the market among the various advanced technologies offered by respective organizations. Therefore the demand for technologically advanced Produced water treatment is under high demand which could contribute to the organizations in entering various markets globally.
Baker Hughes Ltd., Enviro Tech Systems, LLC, Siemens AG, Schlumberger Ltd, CETCO Oilfield Services, Ovivo Inc., General Electric Company, Veolia Environnement SA, Halliburton Energy Services, Inc, FMC Technologies Ltd., and others.
The key segment of Produced Water Treatment Market:
- Onshore Produced Water Treatment Services
- Offshore Produced Water Treatment Services
- North America
- Asia pacific
- Middle east and Africa
- Latin America