North American produced water treatment equipment market to reach $825 million in 2012
DALLAS — The North American market for produced water treatment equipment is expected to reach $825 million in 2012, according to a new market research report from ReportsnReports.com.
Total market value is expected to reach nearly $1.2 billion in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 7.7%. Oil field-produced water is expected to increase from $627 million in 2012 to $929 million in 2017, a CAGR of 8.2%. Gas field-produced water is expected to increase from $198 million in 2012 to $267 million in 2017, a CAGR of 6.2%.
The demand for carbon-based energy is a major market driver for products and services used to treat the water produced during oil and gas exploration and production (E&P). Produced water, the effluent that rises to the surface during E&P, includes naturally occurring water in energy deposits and water injected into formations during drilling processes.