New York, United States, April 08, 2024 (GLOBE NEWSWIRE) -- A process called wastewater treatment is used to clean up contaminants from wastewater and turn it into an effluent that can be reintroduced to the water cycle. In many regions of the world, enormous amounts of wastewater are released into the environment untreated or with insufficient treatment, causing environmental degradation and severe health risks for people. Diseases can be carried by wastewater that hasn't been treated at all or only partially. It is anticipated that growing urbanization, industrialization, and the depletion of freshwater resources will increase the need for clean water and boost product demand.
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Stringent Regulations by Governments for Wastewater Emission Drives the Global Market
Important governmental agencies like the Central Pollution Control Board (CPCB), the European Environment Agency (EEA), and the U.S. Environmental Protection Agency (EPA) play crucial roles in boosting the environment's water quality and preventing water pollution. Climate changes have raised awareness about conserving and recycling natural resources like water because most of the world's population faces water stress. Many governments are also strengthening restrictions to address this problem. The demand for water and wastewater treatment equipment is anticipated to rise over the anticipated period due to stringent government laws supporting numerous water and wastewater treatment activities globally. In wealthy nations, the government is required to provide safe drinking water. On the other hand, it will likely be difficult for small and medium-sized businesses in developing countries that are expanding quickly to follow stringent governmental rules.
Growing Demand for Clean Water Creates Tremendous Opportunities
Freshwater can be obtained from various sources, including groundwater, rivers, streams, and lakes. Worldwide demand for fresh and treated water is rising as a result of population growth, rapid urbanization, technological advancements, and infrastructure upgrades. Water use has dramatically increased over the past 50 years due to the more than doubling of the human population. According to the WHO, 2.2 billion people do not have access to services that manage drinking water properly. Access to these waterways is anticipated to remain challenging due to geopolitical tensions between nations like India, Bangladesh, and China. Due to the limited availability of freshwater resources, wastewater treatment is now more crucial than ever to supply the rising demand for clean water. This will propel the global water and wastewater treatment equipment market over the forecast period.
Regional Analysis
Asia-Pacific is the most significant shareholder in the global water and wastewater treatment equipment market and is expected to grow at a CAGR of 5.2% during the forecast period. The rapidly growing manufacturing sector and rising investment in the wastewater management sector will be the market's growth drivers. Additionally, it is projected that increased product use in municipal wastewater treatment facilities would result from the region's growing residential market. India presently offers excellent opportunities to grow the water and wastewater treatment systems market. Furthermore, improvements in the country's economic situation will probably spur developments in the wastewater treatment sector, supporting the growth of the market for water and wastewater treatment equipment.
Europe is expected to grow at a CAGR of 3.1%, generating USD 24.21 billion during the forecast period. Water and wastewater treatment technology investments are predicted to rise due to the region's stringent laws, such as the Drinking Water Directive, Urban Wastewater Treatment Directive (UWWTD), and Water Framework Directive (WFD). The high concentration of dairy farmers in England is expected to increase water and wastewater treatment spending. Furthermore, it is anticipated that the utility sector's product demand will increase significantly over the projected period due to improvements in the UK's automotive industry following the Eurozone Crisis.
Key Highlights
- Based on equipment, the global water and wastewater treatment equipment market is bifurcated into membrane separation, biological, disinfection, sludge treatment, and others. The membrane separation segment is the highest contributor to the market and is expected to grow at a CAGR of 4.5% during the forecast period.
- Based on the process, the global water and wastewater treatment equipment market is bifurcated into primary treatment, secondary treatment, and tertiary treatment. The tertiary treatment segment owns the highest market share and is estimated to grow at a CAGR of 5.1% during the forecast period.
- Based on application, the global water and wastewater treatment equipment market is bifurcated into municipal and industrial. The municipal segment is the highest contributor to the market and is expected to grow at a CAGR of 3.9% during the forecast period.
- Asia-Pacific is the most significant shareholder in the global water and wastewater treatment equipment market and is expected to grow at a CAGR of 5.2% during the forecast period.
Competitive Players
The global water and wastewater treatment equipment market’s major key players are Xylem, Inc, Pentair plc, Evoqua Water Technologies LLC, Aquatech International LLC, Suez, Ecolab Inc., DuPont, Calgon Carbon Corporation, Toshiba Water Solutions Private Limited, and Veolia Group.
Market News
- In June 2022, Evoqua Water technologies opened a new manufacturing facility in Singapore to support growth in Asia-Pacific.
- In October 2022, Xylem announced that more than 80 water and wastewater utilities worldwide had set net-zero and climate-neutrality targets. These utilities are leading the decarbonization of the water sector with strategies that optimize operations while cutting greenhouse gas (GHG) emissions.
Global Water and Wastewater Treatment Equipment Market: Segmentation
By Equipment
- Membrane Separation
- Biological
- Disinfection
- Sludge Treatment
- Others
By Process
- Primary Treatment
- Secondary Treatment
- Tertiary Treatment
By Applications
- Municipal
- Industrial
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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