Global water, wastewater treatment market seen at $456 bn by 2026
Buoyed by rising demand for water in the wake of increasing shortages and growing global population, the global water and wastewater treatment market size is projected to reach $456.68 billion by 2026.
The growth in the global market will come due to Asia Pacific witnessing considerable growth in the coming years driven by massive investments by countries such as China, India and Japan.
According to a recent research report, the global water and wastewater treatment market was worth $265.30 billion in 2018 and will exhibit a CAGR of 7.1 per cent during the forecast period 2019-2026.
North America too will remain a major market in the next six years. The market in North America currently dominates the global market owing to the presence of several water and wastewater R&D facilities across this region. As of 2018, the water & wastewater treatment market in North America was worth $104.53 billion and this value is projected to increase further in coming years.
Water and wastewater treatment is carried out before being used for commercial and domestic purposes. The growing demand for freshwater, coupled with the low availability of naturally available drinking water has created a subsequent demand for this process.
Recent technological advancements will also open up a huge potential for the companies operating in the water and wastewater treatment industry in the forthcoming years.
The generation of wastewater has increased globally mainly due to rapid urbanization and industrialization. The scarcity of pure water in areas including refineries, manufacturing plants, and power plants is driving the deployment of wastewater treatment plants.
The global wastewater treatment system market alone is expected to cross $15 billion by the end of 2025 and is driven by the stringent laws enacted by governments across the world for environment preservation, another report said. The number of small and medium-sized business units that are installing wastewater treatment systems has increased due to the stringent government laws.
Advancements in water treatment methods are driving the global wastewater treatment system market, especially for membrane-based water treatment methods. Most leading companies have huge R&D budgets for developing efficient membranes across the world, including carbon nanotube-based membranes and biomimetic membranes.
The global wastewater treatment system market is mainly dominated by companies like Veolia, Evoqua Water, Xylem, Smith & Loveless, Suez, and Aerzen, among others.
India is expected to be one of the fastest growing markets for wastewater treatment. Availability of groundwater has significantly deteriorated over the past few years and with increasing number of manufacturing facilities coming up across India, particularly in south India, there is expected to be increasing demand for wastewater treatment plants in coming years.
The wastewater treatment plants market stood at around $2.4 billion in 2019 and is expected to reach $4.3 billion by 2025 owing to increasing demand for sophisticated municipal water as well as sewage treatment plants across the country.
In terms of regional analysis, south region accounted for the largest market share in 2019, followed by west, north and east regions.
Implementation of strict government regulations, like zero liquid discharge (ZLD) regulation for the treatment of sewage before discharging into the water bodies is expected to augment demand for wastewater treatment plants through 2025. However, fluctuating prices of membranes, which is a major raw material for wastewater treatment plants, could hamper the growth of the market in coming years.
