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REDDING, Calif. , March 23, 2022 /PRNewswire/ -- According to a new market research report titled, "Water and Wastewater Treatment Market by Type (Water Treatment, Wastewater Treatment), Offering, Application (Municipal, Industrial), and Geography — Global Forecast to 2032," published by Meticulous Research®, the water and wastewater treatment market is expected to grow at a CAGR of 5.4% from 2022–2032 to reach $956.48 billion by 2032.
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The main goal of wastewater treatment is to protect humans and the ecosystem from harmful and toxic elements found in wastewater. Water treatment facilities speed up the natural process of purifying water; these facilities use various processes (e.g., physical, chemical, and biological) to treat industrial wastewater and municipal wastewater to remove pollutants and send the purified water back into the environment.
In recent years, the rapid population growth and urbanization, the growing emphasis on water quality and public health, the increasing prevalence of waterborne diseases, the increase in industrial demand, and stringent government regulations on treating wastewater have boosted the demand for water treatment systems.
The growth of the water and wastewater treatment market is driven by factors, such as the rapid population growth and urbanization, stringent water treatment regulations, the rising need for new water resources, the growing emphasis on water quality and public health, and the increasing prevalence of waterborne diseases.
Furthermore, the growing demand for energy-efficient and advanced water treatment technologies is expected to provide significant growth opportunities for water and wastewater treatment system providers in the coming years. However, the high installation, maintenance, and operational costs are expected to hinder the growth of this market to a notable extent. In addition, the aging and deterioration of existing water infrastructure are the major challenges for the growth of the water and wastewater treatment market.
Impact of COVID-19 on the Water and Wastewater Treatment Market
The COVID-19 pandemic adversely affected numerous economies globally. Governments worldwide imposed nationwide lockdowns to curb the spread of this disease, impacting many manufacturing and service industries, including the water and wastewater treatment market.
The COVID-19 pandemic disrupted the water sector supply chain, adversely impacting the livelihood of people worldwide. Numerous water and wastewater treatment technologies, including biological wastewater treatment, gained popularity among industries in this scenario. Biological wastewater treatment systems are being used worldwide as it is more economical and effective than other processes, such as mechanical and chemical.
The increasing demand for wastewater treatment is attributed to the growing necessity for an effective approach for the proper disposal of industrial wastewater. In addition, the COVID-19 pandemic resulted in the need for proper and advanced wastewater treatment in hospitals to curb the spread of the virus. As a result, decentralized wastewater treatment plants with multiple disinfection barriers in quarantine centers and isolation wards gained popularity during the pandemic.
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The COVID-19 pandemic also slowed down investments for the installation of new water and wastewater treatment plants in many micro, small, and medium-sized enterprises/businesses worldwide due to the decline in revenues and outcomes. It also increased the importance of operational reliability due to the cost of disruption. Many large sectors that use water have downscaled or reduced activities resulting in declining industrial demand. The decline in demand from large industrial and commercial users due to lockdowns and travel restrictions is expected to significantly reduce water utility revenues. A survey by the Global Water Leaders Group estimates that the industrial demand for water will fall by an average of 27 % due to the COVID-19 pandemic. Deeper revenue losses are projected across the whole water supply chain, including operators, technology companies, contractors, chemical suppliers, and consultants.
Water And Wastewater Treatment Market Overview
The water and wastewater treatment market is segmented based on type, offering, application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on type, the overall water and wastewater treatment market is segmented into water treatment and wastewater treatment. In 2022, the wastewater treatment segment is expected to account for the largest share of the water and wastewater treatment market. The large market share of this segment is attributed to growing industrialization & urbanization, the rising focus on water quality from the industrial sector, depletion of freshwater resources, the increasing necessity for recycling and reusing water, and the growing focus on industrial wastewater treatments.
Based on offering, the water and wastewater treatment market is segmented into treatment technologies, treatment chemicals, process control & automation; design, engineering, and construction services; and operation & maintenance services. In 2022, the operation & maintenance services segment is expected to account for the largest share of the overall water and wastewater treatment market. The large share of this segment is attributed to the growing complexities of water and wastewater treatment facilities, the increasing need for operational excellence, the rising number of investments in maintenance operations, the increasing adoption of innovative & advanced solutions, stringent regulatory requirements, and the growing focus on achieving cost & energy-saving benefits. However, the process control & automation segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the growing need for meeting the government-mandated quality standards of drinking water and managing wastewater and factors such as cost-effectiveness, efficiency, and lower workforce requirements for monitoring and managing wastewater.
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Based on application, the water and wastewater treatment market is segmented into municipal and industrial. In 2022, the municipal segment is expected to account for the largest share of the overall water and wastewater treatment market. The large share of this segment is primarily attributed to the growing focus on improved water quality & public health, the increasing number of water treatment projects, especially in Asian countries, and the aging infrastructure in developed countries. In addition, the increasing environmental concerns and the rising number of stringent regulations and legislations regarding wastewater drives the growth of this segment. However, the industrial segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the growing industrialization, the rising focus on water quality from the industrial sector, depletion of freshwater resources, the growing necessity for recycling and reusing water, and the increasing advancements in industrial wastewater treatment technologies.
Based on geography, the global water and wastewater treatment market is segmented into five major regions: Asia-Pacific , Europe , North America , Latin America , and the Middle East & Africa . In 2022, the water and wastewater treatment market in Asia-Pacific region is expected to account for the largest share of the global water and wastewater treatment market. The high market growth in Asia-Pacific region is driven by the rapid population growth and urbanization, the rising demand for the advanced treatment of residential water, advances in membrane technology, environmental deterioration, limited availability of water resources, and increasing investments in water infrastructure by the public sector organizations.
The key players operating in the global water and wastewater treatment market are Suez Environnement S.A. (France ), Veolia Environnement SA. (France ), Xylem, Inc. (U.S.), DuPont de Nemours, Inc. (U.S.), 3M Company, Inc. (U.S.), Pentair plc (U.K.), United Utilities Group PLC (U.K.), Kingspan Group Plc (U.K.), The Dow Chemical Company (U.S.), BASF SE (Germany ), Kurita Water Industries Ltd. (Japan ), Bio-Microbics, Inc. (U.S.), Calgon Carbon Corporation (U.S.), Trojan Technologies Inc. (Canada ), Kemira Oyj (Finland ), Thermax Limited (India ), Wog Technologies (India ), Golder Associates, Inc. (Canada ), SWA Water Technologies PTY LTD. (Australia ), Burns & McDonnell (U.S.), Adroit Associates Private Limited (India ), Sauber Environmental Solutions Pvt. Ltd. (India ), SPEC Limited (India ), Ecolab, Inc. (U.S.), GFL Environmental Inc. (U.S.), and Clean TeQ Water Limited (Australia ) among others.
Browse in-depth TOC on " Water And Wastewater Treatment Market - Global Opportunity Analysis And Industry Forecast (2022-2032)" 380 – Tables 43 – Figures 441 – Pages
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Water and Wastewater Treatment Market, by Type
Water and Wastewater Treatment Market, by Offering
Water and Wastewater Treatment Market, by Application
Water and Wastewater Treatment Market, by Geography
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Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research
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