Global Fracking Water Treatment Equipment Market: Overview
The growing population has increased the demand for electricity, improved housing, automobiles, and others, which in turn has increased the demand for oil and gas. The wastewater from fracking operations should undergo water treatment in order to be reused, thus accelerating the fracking water treatment equipment market. Besides, the current conditions of the requirement of more water and water scarcity have made it necessary to develop equipment that can recycle wastewater. Water scarcity affects almost each continent and over 2.8 Billion people globally suffer due to it at least one month every year. Over 1.2 Billion people are unable to use clean drinking water. All these factors accelerate the global fracking water treatment equipment market.
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Global Fracking Water Treatment Equipment Market: Segmentation
The segmentation of the fracking water treatment equipment market is done on the basis of product type, technology, application, and region. Geographically, the fracking water treatment equipment market is categorized into following regions North America, Europe, Asia-Pacific and Rest of the World.
Global Fracking Water Treatment Equipment Market: Growth Factors
During hydraulic fracturing and horizontal drilling, there is a necessity to treat the wastewater in order to prevent the contamination of groundwater. This is the major factor driving the fracking water treatment equipment market. The natural gas market is anticipated to grow rapidly in the coming years, which will likely enhance the growth of the fracking water treatment market. The less availability of water has led to a demand to recycle the waste water. During the hydraulic fracturing, there is huge consumption of water which compelled the regulatory authorities to promote the recycling of the wastewater in order to avoid the excessive water wastage, thus positively impacting the fracking water treatment equipment market growth. The natural gas extraction is the alternative that is being used due to the depletion of oil reserves. Increasing the drilling activities has boosted the fracking water treatment equipment market growth. Moreover, the companies that are involved in the fracking water treatment equipment have invested huge amounts for the research and development of new equipment for treating the wastewater efficiently.
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Global Fracking Water Treatment Equipment Market: Regional Analysis
North America is dominating the fracking water treatment equipment market due to the increased drilling activities and extraction of the unconventional gas. The boom in shale gas in the U.S. is a prime factor that is anticipated to drive the fracking water treatment equipment market growth. As said by the U.S. Energy Secretary in the oil and gas conference, there are increasing tensions between energy and water thus growing the importance of water in the energy industry; hence, wastewater treatment has become necessary. The Asia-Pacific region is also expected to grow in the coming years owing to the emerging shale gas market in China. REACH and GPA has increased the restrictions to reduce the wastage of water, hence helping the European fracking water treatment equipment market to grow.
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Global Fracking Water Treatment Equipment Market: Competitive Players
Some of the key companies operating in the fracking water treatment equipment market include Schlumberger Ltd., Oasys Water Inc., GASFRAC Energy Services Inc., Total Separation Solutions, Halliburton Co., and Altela Inc.
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