Fracking Water Treatment Market size was valued at USD 432.3 million in 2023 and is anticipated to reach USD 845.97 million by 2036, registering around 5.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of fracking water treatment is assessed at USD 450.63 million. The growth of the market can be attributed to the increasing usage of hydraulic fracking in the oil and gas industry, stringent international norms associated with wastewater treatment, and rising demand for crude oil and natural gas around the world. According to the International Energy Agency, the total oil demand rose up to 4,456 million tons in 2019, up from 4,428 million tons in 2018. long with these, growing focus of people towards natural gas vehicles and escalating environmental concerns regarding emissions are also expected to boost the growth of the market in the upcoming years. Furthermore, rise in demand for sophisticated techniques to recycle water as a result of the escalating importance of water worldwide is also projected to be a crucial factor expanding the market growth in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.3% |
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Base Year Market Size (2023) |
USD 432.3 million |
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Forecast Year Market Size (2036) |
USD 845.97 million |
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Regional Scope |
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The market is segmented based on application into treatment & recycle, and deep well injection, out of which, the treatment & recycle segment is anticipated to hold the largest share in the global fracking water treatment market on account of the increasing requirement for water to comprehend its shortage, and growing applications of reused wastewater globally. In addition, rising number of drilling activities in the oil and gas sector is also predicted to boost the growth of the market segment by the end of 2030. Moreover, on the basis of source, the residential segment is assessed to acquire the largest share during the forecast period, which can be credited to the high generation of waste water from the residential sector across the globe and rapid rate of urbanization.
Our in-depth analysis of the global fracking water treatment market includes the following segments
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By Application
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By Source |
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APAC Market Statistics
On the basis of geographical analysis, the global fracking water treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific is likely to account for largest revenue share by 2036, on the back of increasing implementation of restrictions from governmental organizations to reduce excessive wastage of water, and growing scarcity of fresh water in the region. It is calculated that by 2050, more than 250 million will suffer from shortage of water in South Asia. In addition, population in the region has already used 95 percent of Indus. Additionally, the fracking water treatment market in North America is expected to gather the largest share over the forecast period, which can be credited to the increasing number of drilling projects, growing consumption of crude oil, and strong presence of prominent market players in the region.
March 25, 2021: MIT engineers made xylem filters from native tree branches in India to purify drinking water. The filtration system is fitted with replaceable xylem filters that purify water at a rate of one liter per hour.
Author Credits: Rajrani Baghel
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