In oil and gas production, water management is crucial both as a by-product and ingredient, water. Various steps in oil and gas production such as drilling of exploration well, injection into the well, and refining and oil processing require water. Effective water management is highly required to improve production and operational quality across oil and gas reservoirs. It also saves cost and ensures environmental protection. Oil companies have started realizing the importance of water management and have devised new methods to increase sustainability and decrease fresh water consumption. Operators are reusing oilfield waste water and are also focusing on reducing the disposal volume.
The report studies the global water management market for oil and gas industry on the basis of application and technology as well as geography. The report offers a detailed analysis of the growth of the market across key geographical regions.
The report further provides insightful information about the competitive landscape and profiles some of the key players operating in the global water management market for oil and gas industry.
Overview of Global Water Management Market for Oil & Gas Industry
Stringent environmental regulation, water scarcity, increasing water cuts, and growth in unconventional oil and gas production are propelling the global water management market for oil and gas industry. The importance of water management has increased significantly in response to the wide-scale development of shale resources for oil and gas production. The acute shortage of potable water is compelling the oil and gas industry to develop technologies enabling the use of produced water for irrigation and other utilities. Multi-stage fracturing has further pushed the demand for recycling and treatment of water.
In terms of application, the report segments the global water management market for oil and gas industry into offshore and onshore. On the basis of technology, the market has been categorized into water hauling services, water disposable service, and produced water treatment service. In onshore segment, volumes of flow back and produced water are increasing owing to increased production of unconventional oil and gas.
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The report studies the global water management market for oil and gas industry across four key regions: Asia Pacific, North America, Europe, and Rest of the World. Demand is highly located in North America due to rapid increase in unconventional oil and gas production in the United States. In the coming years, the U.S. market is estimated to expand further with water hauling as the largest component of the services market. Asia Pacific is expected to emerge as an enormous market for oil and gas industry. This would fuel the water management market in the region.