DUBLIN–(BUSINESS WIRE)–The “Global Water Treatment Market: Analysis By Application, By Product and Services, By Equipment Type, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global water treatment market was valued at US$303.55 billion in 2022. The market value is forecasted to grow to US$460.68 billion by 2028.
People enjoy access to drinking water today, the future supply of clean water for human consumption, and industrial use, holds significant challenges. Ensuring adequate clean water supplies for ever growing populations would likely require increased investment in water treatment services, both to ensure that water quality meets ever tightening standards, and to support increased rates of reuse.
Water treatment is a process of improving water quality and transforming it into an effluent that can be reused for specific end use like drinking, industrial water supply, irrigation, river flow maintenance, water recreation, etc., or safely returned to the nature with a minimized negative impact on the environment.
Water treatment process is mainly associated with removal of contaminants and undesirable components, or reducing the concentration of harmful chemicals to improve water quality for the desired end-use.
Factors such as lack of fresh water resources, rapidly developing emerging economies, rising concerns associated with environment degradation, increasing investment by companies in advanced wastewater treatment technology and growing emphasis on water quality and public health are expected to drive the overall market growth in the forecasted period.
Alongside these trends, there is increasing pressure upon water intensive sectors to improve their efficiency, and increase reuse of wastewater. These factors drive the need for more effective pollutant removal from water, and is likely to drive continued investment in water treatment. The market is anticipated to grow at a CAGR of approx. 7% during the forecasted period of 2023-2028.
Market Dynamics
Growth Drivers
- Rapid Urbanization
- Increasing Demand from End User Industries
- Rising Health Awareness
- Water Scarcity
- Climate Change
- Stringent Wastewater Government Regulations
Challenges
- High Installation, Equipment and Operations Cost
- Lack of Infrastructure Facilities
Market Trends
- Integration of Artificial Intelligence (AI)
- Growing Demand of Internet of things (IoT) solutions
- Rapid Advancements in Water Treatment Technologies
- Increasing Adoption of Nanotechnology
- Thermal Hydrolysis
Market Segmentation Analysis:
- By Application: The report provides the bifurcation of the market into two segments based on application: municipal and industrial. Municipal water treatment market holds the largest share of global water treatment market owing to increasing population growth, rapid urbanization, lack of freshwater resources, rising water demand in agricultural sector and increasing use of municipal water for amusement activities such as swimming pools and amusement parks. Also, municipal water companies are increasingly prioritising actions to address water quality and scarcity issues. For example: Veolia committed to diagnose water resources and develop solutions to optimize water management by 2023.
- By Product and Services: The report provides the bifurcation of the market into three segments based on product and services: equipment, services and chemicals. Services water treatment market is both the largest and the fastest growing segment of global water treatment market owing to increasing manufacturing activities, rapid urbanization, increasing company focus on building technologically advanced water treatment facilities and growing need for maintenance of existing sewage treatment plants.
- By Equipment Type: The report also provides the bifurcation of the water treatment equipment market into five segments: membrane separation, biological, sludge, disinfection and others. Membrane separation water treatment equipment market is the largest and fastest growing segment owing to rising adoption of membrane separation technology in dairy processing & beverages industry, increased population growth, rising environmental restrictions on untreated wastewater discharge by industries, accelerated depletion of ground & surface water resources and increasing implementation of the reverse osmosis (RO) pre-filtration process in various end user industries.
- By Region: The report provides insight into the water treatment market based on the regions namely North America, Europe, Asia Pacific and rest of the world. The global water treatment market is well diversified globally, with significant markets in all regions. Market trends do, however, differ significantly by region. Asia Pacific water treatment market in the largest & fastest growing region of global water treatment market owing to increasing urban population, rising demand for municipal wastewater treatment facilities, rapidly growing manufacturing sector, rapid industrialization and rising government regulations for wastewater treatment. In Europe and North America, there is an established base of water processing infrastructure which was designed and installed in some cases many decades ago, which requires investment to meet modern water processing standards.
- Asia Pacific water treatment market is divided into five regions on the basis of geographical operations, namely, China, Japan, India, South Korea and Rest of Asia Pacific, where China water treatment market held the largest share in Asia Pacific water treatment market owing to rapid industrialization, low freshwater availability and increasing number of stringent wastewater regulations to combat the rising pollution levels.
Companies Mentioned
- Veolia Environnement SA
- DuPont de Nemours, Inc.
- Xylem, Inc.
- 3M Company
- Pentair PLC
- Ecolab Inc.
- Kemira Oyj
- BASF SE
- DOW Inc.
- Kurita Water Industries Ltd.
- United Utilities Group PLC
- Kingspan Group PLC (Kingspan Water & Energy)
- SNF
- Hydro International UK Ltd.
- BioMicrobics, Inc
For more information about this report visit https://www.researchandmarkets.com/r/mi6072-water?w=4
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