Water Management Market for Oil and Gas Industry: Overview
Water is used both as an ingredient and as a by-product in the production of oil and gas. Different steps such as injection into the well, drilling of exploration well and refining and oil processing involved in the oil and gas production require water. To improve the production and operational quality across the oil and gas reservoirs, effective water management is required which ensures to save cost and protect the environment. Thus, water management has become very important and the oil companies have devised new methods in order to decrease the fresh water consumption.
Water Management Market for Oil and Gas Industry: Segmentation
The segmentation of the water management market for oil and gas industry is done on the basis of application, technology, and region. On the basis of application, the global market is segmented into the onshore segment and offshore segment. During the production of oil and gas, the volumes of produced and flow back water are constantly rising in the onshore segment. Based on the technology, the water management market for oil and gas industry is divided into water hauling services segment, produced water treatment services, and water disposable services. The water management market for oil and gas industry can be geographically diversified into Asia-Pacific, Europe, North America, and Rest of the World.
Water Management Market for Oil and Gas Industry: Growth Factors
Managing the water in the oilfield is still an evolving process. The main issues faced by the global market are in the management of the produced water, the effect on its deliverability, scale of the wellbore, deliverability, and the costs related to its disposal. The produced water is re-injected for water flooding and pressure support; this technique has been used as a strategy to add the operational and economical benefits. The water scarcity in the world is driving the industry to find new technologies in order to reuse the produced water for irrigation or other utilities. A new level of complexity is added with the development of the multistage fracturing that overall changed the nature of the oilfield water management. Other factors that are driving the water management market for oil and gas industry are water scarcity, growing water cuts, strict environmental regulations, and the growth of the oil and gas productions.
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Water Management Market for Oil and Gas Industry: Regional Analysis
The region that is dominating the water management market for oil and gas industry is North America. It is mainly due to the unusual growth of the oil and gas production in the United States. In the near future, the U.S. market is expected to grow owing to the fact that water hauling is the largest component of the services. The market for the oil and gas industry is growing enormously in the Asia-Pacific region due to a large number of exploration and production activities. Hence, water management has become a key concern for the gas and oil industry in the Asia Pacific region.
Water Management Market for Oil and Gas Industry: Competitive Players
Some of the key companies operating in the water management for oil and gas industry include Ovivo, Green Hunter Resources, Aquatech, Layne, Sclumberger, Veolia, Ridgeline Services, and Heckmann Corp.