The global water and wastewater treatment market report by Market Research Future (MRFR) studies the market size, which is predicted to show a splendid hike to USD 73.25 billion by 2023 at a CAGR of 5.33%. The development of the market is witnessed owing to the stringent government regulations for industries and rising urbanization.
Water and wastewater treatment process is used to convert wastewater into an affluent, which can return to the water cycle and used for several purposes. Different methods such as chemical, biological, and physical are used for removing impurities and waste products from the water.
The wastewater treatment technology is growing significantly over the years due to the proliferation of population. The wastewater technology is widely used in various industries such as food & beverages, chemicals, pharmaceuticals, pulp & paper, municipal water & wastewater treatment, metal & mining, textiles and more. All these urges for the cleaning of water which is, in turn, driving the growth of water and wastewater treatment market with a positive pull.
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Factors Driving the Market Growth
Growing water consumption demand all over the world along with health concerns and industrial purposes are pulling the water and wastewater treatment market to grow substantially. With immense opportunities emerging in the industrial sector is a challenging water treatment process in broader ways. Moreover, the rising demand for advanced and energy efficient wastewater treatment technology to curb water issues is likely to propel the market growth over the forecast period.
In recent time, people’s inclination towards environmental awareness is rising with time, hence, it is playing as a key driver to protect water by contamination. Thus, the need for water and wastewater treatment is becoming an essential activity after a sluggish growth of the market in past years.
On the other part, the rise in industrial activities has further demanded the treatment of the water to make it suitable for various purposes. In addition, with the rapid increase in water-based infrastructure investments is also expected to have a significant role in increasing the water and wastewater treatment market growth with a higher CAGR in the years to come.
Market Segmentation
The global water and wastewater market have been segmented into technology, applications, and region.
By mode of technology, the market has attained its highest share of growth by membrane separation segment with a higher CAGR, which help in treating the water by removing particles, colloids, and macromolecules making the water disinfected. The use of the equipment is high than any other equipment due to its environment-friendly technology and cost-effectiveness.
By application mode, the municipal accounts the most massive space in growing the market in the forecast period due to creating opportunities for adoption of drinking water solutions and providing high-purity water to residents. The decrease in availability of fresh water supplies and stringent regulations are also pulling up the need for wastewater treatment by municipalities.
Regional Analysis
Geographically, the water and wastewater treatment market has seen its growth in regions such as North America, Europe, Asia Pacific and Rest of the world.
Of these, the Asia-Pacific region is expected to witness tremendous growth in the market with the highest CAGR of 33.50% in 2016. Developing countries such as India and China are the biggest consumers of water due to its high rate of population and rapid industrialization due to which heavy disposal activity in water bodies is raising. Therefore, the need for stringent adoption of water treatment equipment is imperative.
Whereas in North America, strict rules and regulation by Government are further contributing to the growth of the market in recent years.
Market Key Players
The key players of global water and wastewater treatment equipment market include GE Water & Process Technologies (U.S.), Aquatech International Corporation (U.S.), Veolia Water Technologies (France), WPL Limited (U.K.), Fluence Corporation Limited (U.S.), Napier Reid Ltd. (Canada), Calgon Carbon Corporation (U.S.), Xylem Inc. (U.S.), Kemira Oyj (Finland) and Corix Water System (Canada).
Industry News
January 16, 2019: Veolia Water Technologies will supply Kraft Heinz China with a wastewater treatment solution for its new soy sauce plant in Guangdong.
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