Persistence Market Research has recently compiled a report on ‘Oilfield Water Treatment Services Market’ which offers a comprehensive synopsis of revolving market valuation, market size, SWOT analysis, revenue estimation and geographical spectrum of the market. The report further elucidates primary business obstacles and growth prospects within the forecasted timeline, while examining the current competitive sphere involving key players of the ‘Oilfield Water Treatment Services Market’.
Oilfield water treatment services market are set to experience a sizable growth over the coming years on the back of booming oil industry. Moving ahead, waters produced and generated during the extraction of oil reserves must be properly managed and treated in order to mitigate any impacts on the environment and existing water supplies. This can be treated by utilizing oilfield water treatment services. The chemistry and proportion of produced waters at the oilfield is highly variable and complex. These produced waters are considered as brackish water solutions containing a huge amount of dissolved salts and minerals. Thus, a significant concern for effective treatment strategies for these waters is removing or reducing the amount of dissolved solid concentration prior to disposal and subsequently, oilfield water treatment services came into play. Similarly, the huge volumes of produced water generated per year from oilfields require economical, effective and environmentally friendly oilfield water treatment services.
Importantly, the ability to reduce produced water and to curb freshwater supply can improve oilfield operator profitability and contribute to water conservation. To meet up with several objectives, operators have been utilizing various physical, biological, and chemical oilfield water treatment services for produced water management. Subsequently, the aim of the oilfield water treatment services study is to analyze the most recent trends and dynamics in the global and regional oilfield water treatment services market.
Global Oilfield Water Treatment Services Market: Market Dynamics
Water shortage and environmental issues are the most important concerns around the globe. Federal government across the world have been attempting measures to preserve groundwater utilized in an oilfield, thereby proliferating a substantial level of opportunities for oilfield water treatment service providers. Furthermore, the global oilfield water treatment services market is heavily affected by events like unrest in oil-producing regions (Iran and Iraq), new oil field discoveries, and advances in oil extraction technology. In addition to this, many water-stressed nations with oilfields are considering ways to supplement their limited freshwater resources by focusing on economic and efficient methods associated with the oilfield water treatment services to treat oilfield water.
Growth areas in the oilfield water services market include enhanced oil recovery with treated produced water adding value to the oil field through reinjection. Government regulations pertaining to promote investment in advance technologies are stipulated to augment the growth in the oilfield water treatment services market. Aforementioned factors delineating a positive outlook for the oilfield water treatment services market.
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Global Oilfield Water Treatment Services Market: Market Segmentation
The global oilfield water treatment services market can be segmented on the basis of service type, treatment technology, the drilling technique, and region.
On the basis of service type, the global oilfield water treatment services market can be segmented as:
- Solids Removal
- Pond Management
- Saltwater Disposal
On the basis of treatment technology, the global oilfield water treatment services market can be segmented as:
- UV and Chemical Oxidation Treatment
- Voraxial Impeller-Induced Cyclonics
- Gas Flotation
- Media Filtration
- Membrane Treatment Technology
- Ion Exchange
- Others (Dewvaporation etc.)
On the basis of the drilling technique, the global oilfield water treatment services market can be segmented as:
- Onshore oilfield water treatment services
- Offshore oilfield water treatment services
Global Oilfield Water Treatment Services Market: Regional Outlook
Astonishing level of oil production in the countries, such as the U.S., Saudi Arabia, Russia, China, and Canada supports the growth of oilfield water treatment services market. Moreover, various legislations and strategies adopted by the industrialized and developing countries, such as the EU Water Framework Directive, Environmental Impact Factor (EIF) in Norway etc. are poised to encourage the demand for oilfield water treatment services. The U.S. shale oil output is hitting a hefty amount of production in the recent years. In the medium term, an outlook for North America oilfield water treatment services market is likely to be bolstered by ongoing shale oil exploration & production activities.
Oil sanctions enforced by the U.S. against Iran is expected to steer the oilfield water treatment services market and squarely influence the volatility of the price of oil. Additionally, oilfield water treatment services market is significantly influenced by healthy relationships between Saudi Arabia and Russia on managing oil markets. One of the geopolitical realities, which have strengthened Russia’s global position significantly. Also, demarcating the positive trend for oilfield water treatment services market. In South East Asia and Pacific, especially in ASEAN, there has been a growing need for produced water treatment technologies, including oilfield water treatment services on the backdrop of a rising number of mature oil fields in the region. As a result, there is an extended focus in Southeast Asia on oilfield water treatment services that are both cost-efficient and effective.
In a nutshell, public policies, geopolitics, and growing demand for oil are bolstering the oilfield water treatment services market.
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Global Oilfield Water Treatment Services Market: Key Participants
Examples of some of the market participants in the global oilfield water treatment services market discerned across the value chain include:
- Halliburton Energy Services, Inc.
- Schlumberger Limited
- Minerals Technologies Inc.
- Veolia Water Technologies
- WSP Global Inc.