June 21, 2022 08:17 ET | Source: Meticulous Market Research Pvt. Ltd. Meticulous Market Research Pvt. Ltd.
Redding, California, June 21, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Industrial Wastewater Treatment Market by Offering (Treatment Technologies, Treatment Chemicals, Process Control and Automation, DEC Services, O&M Services), and Application - Global Forecast to 2029,’ the global industrial wastewater treatment market is projected to reach $174.9 billion by 2029 at a CAGR of 5.5% from 2022 to 2029.
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Industrial wastewater treatment covers the mechanisms and processes used to treat water contaminated in some way by anthropogenic industrial or commercial activities before its release into the environment or its reuse. Most industries produce some wet waste, although recent trends in the developed world have been to minimize such production or recycle such waste within the production process. However, many industries remain dependent on processes that produce wastewaters. The major benefits of using wastewater treatment systems in the industrial sector are waste reduction, energy production, fertilizer production, and the provision of clean and processed water.
The growth of the industrial wastewater treatment market is attributed to stringent water treatment regulations, lack of freshwater resources, and the increasing prevalence of waterborne diseases. Furthermore, the growing demand for energy-efficient and advanced water treatment technologies and increasing demand for wastewater recycling, reuse, & biogas generation are expected to create significant opportunities for the players operating in this market.
However, the high installation, maintenance, and operational costs is expected to restrain the growth of this market to a certain extent. The aging of existing water infrastructure is one of the major challenges to the growth of the industrial wastewater treatment market.
The Impact of COVID-19 on the Industrial Wastewater Treatment Market
The COVID-19 pandemic slowed down investments for installing new 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 users of water downscaled or reduced activities, resulting in declining industrial demand. Due to lockdowns and travel restrictions, the decline in demand from large industrial and commercial users significantly reduced water utility revenues. A survey by the Global Water Leaders Group estimated that the industrial demand for water plummeted 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.
In addition, operations were also affected due to the increased risk of infection among utility staff. Operational continuity and flexibility are key to keeping essential water and sanitation services running while pushing forward ongoing construction projects. Many governments identified people working in the water and sewerage industry as essential workers, enabling utilities to maintain continuity of service.
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The industrial wastewater treatment market is segmented based on offering, application, and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on offering, the industrial wastewater treatment market is segmented into treatment technologies; treatment chemicals; process control & automation; design, engineering & construction services; and operation & maintenance services. In 2022, the operation & maintenance services segment is expected to account for the largest share of the industrial wastewater treatment market. The large market 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 targets. 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. Also, the rising focus on cost-effectiveness, efficiency, and lower workforce requirements for monitoring and managing wastewater is one of the major drivers for the growth of this segment.
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Based on application, the industrial wastewater treatment market is segmented into food & beverages, pharmaceuticals & chemicals, power generation, pulp & paper, oil & gas, mining, petrochemicals, semiconductors, and other industrial applications. In 2022, the food & beverage segment is expected to account for the largest share of the industrial wastewater treatment market. The large market share of this segment is attributed to the high consumption of water in food processing as well as an integral component of the final product; high concentration of organic and inorganic substances; strict purification standards for the water & wastewater treatment technologies for the F&B industry; and increasing demand of energy-efficient technology and energy recovery from the wastewater in the form of biogas.
Based on geography, the industrial wastewater treatment market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to account for the largest share of the industrial wastewater treatment market. The growth of this regional market is driven by the rising demand for sustainable and advanced solutions due to significant water stress and environmental pollution.
The key players profiled in the industrial wastewater treatment market study include 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).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/industrial-wastewater-treatment-market-5170
Industrial Wastewater Treatment Market, By Offering
Industrial Wastewater Treatment Market, By Application
Industrial Wastewater Treatment Market, By Geography
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