The global WaterTreatment Market Size was valued at USD 323.32 billion in 2023 and isprojected to grow from USD 346.41 billion in 2024 to USD 617.81 billion by
2032, exhibiting a CAGR of 7.5% during the forecast period.
The demand for water and wastewater treatment technologies is risingacross the globe due to large-scale urbanization and rapid industrialization.
Since more people are moving to urban areas, the demand for clean water is
growing at a notable pace every year. Similarly, more manufacturing plants are
being set up to cater to the rising lifestyle demands of people living in the cities.
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This factor has led to a worrying rise in the volume of wastewater beinggenerated from these plants each year. Many countries across the world are also
facing severe water shortages, compelling the authorities to use wastewater
treatment solutions to convert seawater into drinkable water with the help of the
desalination process. These factors are expected to augment the water and
wastewater treatment market growth.
Fortune BusinessInsights™ displays this information in a report titled, "Water and
Wastewater Treatment Market, 2023-2030."
COVID-19 Impact:
IndustrialActivities Slowed During Pandemic, Negatively Impacted Market Progress
The COVID-19 pandemic decelerated the volume of investments in the waterindustry as a large number of large-scale commercial and industrial end-users
decreased their demand for water treatment facilities. This is because
lockdowns and other movement restrictions were imposed, which slowed down
industrial activities significantly. Moreover, since manufacturing plant owners
faced a severe cash crunch due to the decline in their revenue margins, they
were discouraged from investing in advanced water and wastewater treatment
facilities. This scenario negatively affected the market progress.
Segmentation:
RisingFocus on Establishment of New Treatment Plants to Boost Demand for Water
Treatment Services
Based on segment,the market is classified into chemicals, equipment, and services. The services
segment is anticipated to record a strong growth rate during the forecast
period as more companies are focusing on building new water and wastewater treatment
plants while renovating the existing facilities.
MunicipalEstablishments to Increase Dependence on Wastewater Treatment Facilities to
Supply Clean Agriculture Water
Based on application,the market is bifurcated into municipal and industrial. The municipal segment
is expected to hold a dominant water and wastewater market share as more than
30% of the global water supply goes to the agriculture sector. This will
automatically increase the demand for clean water to help farmers keep their
fields healthy.
With respect toregion, the market covers North America, Europe, Asia Pacific, South America,
and the Middle East & Africa.
Report Coverage:
The market reportoffers an elaborative study of the industry and highlights key areas, such as
prominent companies, leading application areas of the product, and key technologies.
It also offers valuable insights into the most recent market trends and focuses
on top industry developments. Besides the aforementioned factors, the report also
encompasses several factors that have contributed to the market’s growth in
recent years.
Drivers and Restraints:
Impositionof Strict Rules for Effluent Treatment to Boost Market Growth
While productionprocesses are undergoing a wide range of technological innovations to improve
their overall efficiency and performance, the volume of wastewater generation
increased by many folds over the years.
The effluentsreleased by companies that process rare metals, pesticides, chemicals, and
other harmful materials pose severe environmental risks. This is why many
reputed government agencies have released protocols and guidelines that place a
limit on the number of effluents in industrial water before it is released into
freshwater bodies. Such initiatives will drive the water and wastewater
treatment market share.
