The global oil and gas industry was a major victim of the COVID-19 pandemic due to a drastic slump in energy demand. Such was the impact of the pandemic on the oil industry that benchmark Brent crude oil prices plummeted to a historic low of under US$ 20 per barrel in April, 2020.

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Primary technologies involve basic methods to separate solids from water, such as upstream sand removal, whereas secondary treatment involves separating oil from produced water through gas floatation, degasser, and membrane separation. On the other hand, tertiary treatment technology makes use of a combination of both primary and secondary technology.

Onshore crude oil industry in North America represented 49.14 Bn barrels or 79.1% of produced water in 2012. FMI expects this to reach 116.29 Bn barrels, or 70.6% in 2020. On the other hand, offshore natural gas segment is projected to reach a volume of 7.66 Bn barrels by 2020.

The produced water treatment systems market in Europe is expected to reach a valuation of US$ 1,191.6 Mn by 2020. FMI estimates the market in Europe to expand at a CAGR of 4.6% during the forecast period. Demand for secondary treatment systems is anticipated to expand at a moderate rate during the forecast period, however, FMI expects it to remain the dominant segment through 2020. On the other hand, stringent regulation on part of the governments in Europe is expected to fuel the development of tertiary treatment technologies in the near future.

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FMI estimates the oil and gas production in Europe to increase by 0.23 Bn barrels, however, adoption of renewable energy sources in Europe is anticipated to hamper growth of this market in the future.

Asia Pacific produced water treatment systems market, valued at US$ 960.7 Mn in 2014, is anticipated to increase at a CAGR of 4.8% during the forecast period and reach a valuation of US$ 1275.2 Mn. In terms of revenue, primary produced water systems technology is expected to be the largest contributor in Asia Pacific by the end of forecast period, owing to the growing number of new produced water treatment installations in the region. According to FMI, the growth of the market in Asia Pacific is expected to be driven by a large number of new installations.

By Segmentation:

The key stakeholders in the global produced water treatment system market can be broadly categorised into treatment systems, mobile systems and rental service, and commissioning and consulting services. Schlumberger, Cetco, and Miox, Ovivo, and Global Water Engineering are companies that have a presence in all of the above-mentioned three categories.