The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The market for fracking water treatment is expected to grow at a CAGR of over 3% during the forecast period. The major factor driving the growth of the market is its extensive use in the oil and gas industry to recycle the water for economic as well as environmental efficiency. Moreover, stringent international regulations regarding wastewater treatment are expected to propel the market considered. The outbreak of COVID-19 is expected to foil the market growth during the period of forecast.
- Treatment & Recycle Segment is anticipated to dominate the global fracking water treatment market owing to the various stringent regulations pertaining to the oil and gas industry.
- North America region is expected to be the largest market for the fracking water treatment market because of rising daily crude oil demand coupled with increasing number of drilling projects in the region.
Key Market Trends
High Demand from Treatment & Recycle Segment
- The treatment & recycle section is represented as a critical offer lately with expanding interest for water treatment and rising demand for water because of water shortage comprehensively.
- The wastewater from fracking tasks require treatment for its further usage. In addition, the expanded significance of water and dry season conditions is producing a need to create equipment to reuse wastewater and assisting the development of the worldwide fracking water treatment market.
- Every day worldwide interest for crude oil (including biofuels) is on the ascent and is anticipated to cross 100 million barrels for each day mark in 2020. Besides, more drilling must be done per unit of oil as hydrocarbon discoveries become less gainful with time.
- All the aforementioned factors are expected to drive the fracking water treatment market during the forecast timeframe.
North America to Dominate Fracking Water Treatment Market
- North America region holds a prominent share in the fracking water treatment market globally and is expected to dominate the market during the period of forecast.
- The United States and Canada are the key markets for fracking water treatment in North America inferable from increasing drilling projects in the area. Furthermore, shale gas boom in the United States is a central point expected to drive the fracking water treatment business in North America.
- In 2020, the United States is projected to produce around 6.7 million barrels of crude oil daily, and therefore the demand for fracking water treatment in the region is expected to rise.
- Thus, rising crude oil demand coupled with government support is expected to drive the market studied in the region during the forecast period.
The fracking water treatment market is consolidated. Some of the players in the market include Schlumberger Limited, Halliburton, Veolia Water Technologies, DuPont, and Ecologix Environmental Systems, LLC.
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