NEW YORK, United States, May 26, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Water Utility Services Market By Application (Residential, Commercial, And Industrial), By Type (Single Function Water System And Integrated Water System), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Water Utility Services Market size was valued at USD 67.30 billion in 2022 and it is expected to surpass around USD 89.67 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 3.82% during the forecast period 2023 to 2030.”
The report analyzes the global water utility services market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the water utility services industry.
What are Water Utility Services? How big is the Water Utility Services Industry?
Report Overview:
The firms and organizations that offer water supply together with wastewater treatment facilities to commercial organizations, homes, and industrial units are referred to as the water utility services industry. Along with collecting stormwater and wastewater for treatment, it also covers treating and selling portable water. Both public and private water utility corporations operate the market, and they cooperate with other service providers like those who offer water testing and water saving initiatives. The sector is urgently needed since it protects public health and safety and is essential to the nation's economic growth. The market participants can anticipate a consistent growth rate during the predicted period, although they might run across some obstacles.
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Global Water Utility Services Market Dynamics:
Growth Factors
- Growing population and urbanization to propel market growth
Population growth and urbanization will boost the worldwide water utility services market. As the global population grows, so will water demand. Urbanization puts pressure on water utility service providers to offer more water to more clients. As water supply providers try to fulfil the rapidly expanding demand of its population, market growth is projected. Industrialization, especially in water-intensive sectors like manufacturing and textile, may boost industry expansion. Service providers are under pressure to supply demand for water, which is crucial to life.
Restraints
- Regulatory challenges to restrict the market growth
The shifting regulatory environment of water utility services is a major growth barrier for global players. These laws and regulations vary by location, creating more disbalance because service providers must adapt their processes to each region.
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Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 67.30 Billion |
| Market Forecast in 2030 | USD 89.67 Billion |
| Growth Rate | CAGR of 3.82% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Veolia Environnement SA, Suez SA, American Water Works Company, Inc., Aqua America, Inc., United Utilities Group PLC, Severn Trent PLC, Thames Water Utilities Limited, Yorkshire Water Services Limited, Anglian Water Services Limited, Scottish Water, South West Water Limited, Southern Water Services Limited, Northumbrian Water Limited, Welsh Water, Wessex Water Services Limited, BHP Billiton Limited, Rio Tinto Group, Glencore Plc, Barrick Gold Corporation, Newmont Corporation, Freeport-McMoRan Inc., Vale S.A., Anglo American PLC, Teck Resources Limited, ArcelorMittal SA., and others. |
| Segments Covered | By Application, By Type, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Water Utility Services Market: Segmentation Analysis
The global water utility services market is segmented based on application, type, and region.
Based on application, the global market segments are residential, commercial, and industrial. Residential demand for these services grew the most in 2022. The rising urban population demands more water for drinking, cooking, cleaning, and bathing, which boosts sector revenue. With more commercial establishments worldwide, commercial and industrial uses are likewise high. This group is dominated by manufacturing and mining enterprises. New York City residents use 55 gallons of water per day, according to the DEP.
Based on type, the global market divisions are single function water system and integrated water system. During 2022, the latter type of water utility services led the segmental growth. A central system treats and distributes water in integrated systems. Large networks of pipes, pumps, and treatment facilities do this. Commercial, industrial, and residential units receive clean, reliable drinking water via the integrated water system. Single-function water systems give water to one person or entity but are less efficient. In 2015, the mining industry used 4.3 billion gallons of water per day in the US, according to the USGS.
The global Water Utility Services market is segmented as follows:
By Application
- Residential
- Commercial
- Industrial
By Type
- Single Function Water System
- Integrated Water System
Browse this Full Research Report | Water Utility Services Market By Application (Residential, Commercial, And Industrial), By Type (Single Function Water System And Integrated Water System), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030
Competitive Landscape:
Some of the main competitors dominating the global Water Utility Services market include -
- Veolia Environnement SA
- Suez SA
- American Water Works Company Inc.
- Aqua America Inc.
- United Utilities Group PLC
- Severn Trent PLC
- Thames Water Utilities Limited
- Yorkshire Water Services Limited
- Anglian Water Services Limited
- Scottish Water
- South West Water Limited
- Southern Water Services Limited
- Northumbrian Water Limited
- Welsh Water
- Wessex Water Services Limited
- BHP Billiton Limited
- Rio Tinto Group
- Glencore Plc, and others
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Water Utility Services market is likely to expand at a CAGR of around 3.82% during the forecast period (2023-2030).
- In terms of revenue, the Water Utility Services market size was valued at around US$ 67.30 billion in 2022 and is projected to reach US$ 89.67 billion by 2030.
- The water utility services market is projected to grow at a significant rate due to the growing population and urbanization
- Based on application segmentation, residential was predicted to show maximum market share in the year 2022
- Based on type segmentation, the integrated water system was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
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Key questions answered in this report:
- What is the market size and growth rate forecast for Water Utility Services industry?
- What are the main driving factors propelling the Water Utility Services Market forward?
- What are the leading companies in the Water Utility Services Industry?
- What segments does the Water Utility Services Market cover?
- How can I receive a free copy of the Water Utility Services Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Application, By Type, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
- North America to witness the highest growth
North America is anticipated to see the greatest CAGR in the global market for water utility services. The US and Canada are set to take the lead in driving regional growth. Due to the already established, efficient, and well-planned water utility services and network, these locations have some of the most effective water management systems in the entire globe. Additionally, governments and the general public take proactive measures to ensure reduced water waste and place a strong emphasis on recycling wastewater for subsequent uses.
The government's strict controls on industrial facilities' wastewater management are advantageous to the local market. Europe held the second-largest market share in the previous year thanks to the superior infrastructure of European countries like the UK, Spain, France, and Germany. Alongside this, the local governments are attempting to create fresh strategies for guaranteeing a steady supply of water.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Recent Developments:
- In March 2023, in a joint press release, the Federal Ministry for Economic Cooperation and Development (BMZ) belonging to the Federal Republic of Germany and the Ministry of Foreign Affairs of the Netherlands announced the launch of a joint program that intends to improve water utility services in the growing regions of the global South. The initiative is called the Urban Water Catalyst Initiative
- In August 2022, the water utility service provider for the town of Oro Valley, Arizona launched a new and efficient customer service portal that also features billing systems. The new software program will allow the customer of Water and Stormwater Utility to pay their bills online along with better control over account management
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