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 treatmenttechnologies is rising across 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.
Source:https://www.fortunebusinessinsights.com/water-and-wastewater-treatment-market-102632
This factor has led to a worrying rise in thevolume of wastewater being generated 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 Business Insights™ displays thisinformation in a report titled, "Water and Wastewater Treatment Market,
2023-2030."
COVID-19 Impact:
Industrial Activities Slowed During Pandemic,Negatively Impacted Market Progress
The COVID-19 pandemic decelerated the volume ofinvestments in the water industry 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:
Rising Focus on Establishment of New TreatmentPlants to Boost Demand for Water Treatment Services
Based on segment, the market is classified intochemicals, 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.
Municipal Establishments to Increase Dependence onWastewater Treatment Facilities to Supply Clean Agriculture Water
Based on application, the market is bifurcatedinto 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.Withrespect to region, the market covers North America, Europe, Asia Pacific, South
America, and the Middle East & Africa
Report Coverage:
The market report offers an elaborative study ofthe 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:
Imposition of Strict Rules for Effluent Treatmentto Boost Market Growth
While production processes are undergoing a widerange of technological innovations to improve their overall efficiency and
performance, the volume of wastewater generation increased by many folds over
the years.
The effluents released by companies that processrare 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.
