Oil and Gas Water Management Services Market Size

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.