Oil and Gas Water Management Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Oil & Gas Water Management Services Market Analysis

The global oil and gas water management services market is expected to grow at a CAGR of greater than 8.3% over the period of 2020-2025. Factors such as advances in oil & gas recovery techniques to produce energy from unconventional resources have increased the crude oil and natural gas production. Moreover, these production activities involve utilization of huge amount of water and hence is expected to drive the water management services market. Owing to environmental concerns, oil & gas industry has been facing serious oppositions related to water usage by concerned authorities and local inhabitants. As a result, the rising environmental concerns for water usage in the oil & gas industry is expected to increase the need for better water management services during the forecast period. However, high cost associated with water management services is expected to restrain the market growth.

• The upstream sector, having the largest share in the market, is expected to provide huge thrust to the oil and gas water management services owing to the increasing E&P activities and capital expenditure.
• Investments in the oil & gas deep water and ultra-deep water drilling activities, such as Gabon, Senegal, Guyana, Trinidad & Tobago, Egypt, and the Mexican side of the Gulf of Mexico, are actively promoting the development of deepwater and ultra-deepwater reserves. This, in turn, is expected to create significant opportunities for the operating countries in the near future.
• North America having a large share of oil & gas production and hydraulic fracturing activity is expected to the fastest growing in the global oil & gas water management services market during the forecast period.

Oil & Gas Water Management Services Industry Segments

The oil and gas water management services market report include:

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Oil & Gas Water Management Services Market Trends

This section covers the major market trends shaping the Oil & Gas Water Management Services Market according to our research experts:

Upstream Sector to Dominate the Market

• Upstream oil and gas sector accounts for the largest share in the oil and gas water management services. The increased horizontal drilling activity and growing lateral length has translated into the significant demand for water management services in the recent past.
• Though the number of produced wells globally has increased significantly in the last few years, the declining oil and gas production from matured conventional oil and gas fields has resulted in a moderate growth of the volume of produced water.
• Around 100 offshore projects were sanctioned in 2018, up from 60 in 2017 and 40 in 2016. The increasing number of projects is expected to result in increased demand for water management services in the offshore sector.
• The Saudi government has invested on up scaling the production of hydrocarbons and maintain the dominance in the global oil & gas business. Moreover, the country has also invested in the upstream infrastructure. Therefore, the water management services market in upstream and midstream industry in the country is expected to register a substantial growth rate, during the forecast period.
• In the onshore segment the market is led by the United States and in the major offshore demand is expected to come from Brazil, Gulf of Mexico, North Sea, and West Africa.

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