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The fracking water treatment market is estimated to increase by USD 1,208.4 million between 2022 and 2027. The size of the market is forecast to grow at a CAGR of 4.18%. The growth of the market depends on several factors, including increasing consumption of natural gas, growth in E and P of unconventional oil and gas sources, and stringent regulatory policies.
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The increasing consumption of natural gas is notably driving the market growth, although factors such as the uncertainty in crude oil prices may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Driver
The increasing consumption of natural gas is the key factor driving the market growth. The use of natural gas in fertilizer plants, power generation units, and the petrochemical, transportation, residential, and commercial sectors has increased significantly in major natural gas-producing countries such as China and the United States. China has been using natural gas in many industrial and household applications. According to the US EIA, the major natural gas producers will increase their supply by 69% during 2012-2040 to meet the growing demand. The demand for natural gas as a transportation fuel is also increasing, especially in developing countries such as China and India.
Therefore, the increasing demand for natural gas will lead to an increase in demand for more offshore and onshore oil and gas projects. These factors will lead to high demand for hydraulic fracturing as well as the equipment to access unconventional gas reserves, such as shale gas, which will drive the growth of the market in focus over the forecast period.
Significant Trend
The adoption of supercritical carbon in fracking is the primary trend in the market. The adoption of supercritical coal in the fracking system is one of the main trends that will influence the future growth of the market. The crushing process uses millions of gallons of water, and hazardous wastewater is produced after the process. The exploration of newer technologies such as supercritical coal will impact the demand for hydraulic fracturing at a faster rate. Supercritical coal reduces the use as a fuel. In this technique, supercritical carbon is used to inject pressure into the research process.
In addition, supercritical carbon has various advantages, such as reducing the huge water requirements in operations, it can be captured easily and can be reused for the process, and it is more efficient in hydraulic fracturing rock. Also, the dry process will reduce the cost of operation, as the cost of treating and storing for operations can be avoided. Hence, the deployment of this technology will impact market growth negatively.
Major Challenge
Uncertainty in crude oil prices is a major challenge to market growth. Price volatility forces oil and gas companies to cancel or delay planned investments until prices are favorable. In addition, price fluctuations make oil and gas companies cautious about their future investments, especially in large projects. Most companies invest slowly in megaprojects, waiting for a certain level of price stabilization before making large investments.
The continuous fall in crude oil prices has been triggering a massive withdrawal of investments, with the upstream sector bearing the major brunt of it. The profitability of upstream oil and gas companies is taking a hit, with many of them registering considerable losses. The uncertainties in global crude oil prices adversely affect E and P activities, which negatively impacts the demand for the equipment required for hydraulic fracturing processes.
Key Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
alfalaval.com- The fracking water treatment systems such as PureNOx LS, PureNOx HS, and PureNOx Maersk.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the treatment and recycle segment will be significant during the forecast period. The global market by treatment and recycling is expected to register substantial growth during the forecast period owing to the increasing demand for water supply across the world.
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The treatment and recycle segment was valued at USD 2,382.47 million in 2017 and continue to grow by 2021. The growing demand for water and adverse environmental conditions such as droughts have driven the demand for water treatment. In industrialized countries, more than 50% of the water available for human use is consumed by industries. As the hydraulic fracturing process consumes millions of gallons of water, there will be a continuous demand for water from this process, and companies will use the available freshwater for it. This process will degrade the quality of the available water resources and will reduce the number of readily available water resources. Such factors will increase segment growth during the forecast period.
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North America is estimated to contribute 85% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The high rate of adoption of the hydraulic fracturing process is compelling companies to use recycled water in their operations. As the amount of water required in hydraulic fracturing is higher than the quantity of water available, the demand for the installation of water treatment facilities in the drilling areas where the hydraulic fracturing process is used is increasing. Moreover, the hydraulic fracturing process involves the use of several chemicals that may cause serious health hazards to the surrounding habitat if left untreated and discharged into the environment. These chemicals can release toxic elements, such as arsenic, lead, and mercury. These factors intensify the demand for the installation of water treatment facilities, which is propelling the growth of the market in focus on the region.
The Market is experiencing significant growth fueled by technological advancements and the increasing demand for natural gas. Companies like Dryden Aqua, Calgon Carbon Corporation, and Organica Water are leading players in this sector, offering innovative solutions to address groundwater contamination caused by fracking operations. Rising awareness of environmental concerns drives the adoption of fracking water treatment, despite challenges such as the high cost of treatment and raw material shortages. MIT engineers and other research institutions are contributing to the market's expansion through recent developments in treatment technologies. Regional analysis reveals opportunities in emerging markets, while the global market scope underscores the importance of efficient water treatment solutions in the fracking industry amid economic slowdowns and shipping delays.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.18% |
Market growth 2023-2027 |
USD 1,208.4 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.06 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 85% |
Key countries |
US, Canada, China, Japan, and France |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alfa Laval Corporate AB, Anguil Environmental Systems, Aquatech International LLC, Baker Hughes Co., Calfrac Well Services Ltd., ChampionX Corp., Cudd Energy Services, DuPont de Nemours Inc., Ecologix Environmental Systems LLC, EVOQUA WATER TECHNOLOGIES CORP., Filtra Systems Co, Fluence Corp. Ltd., Halliburton Co., Industrie De Nora Spa, LiqTech International Inc., OriginClear Inc., Schlumberger Ltd., Veolia Environment SA, WesTech Engineering LLC, and Xylem Inc. |
Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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