Pune, May 18, 2021 (GLOBE NEWSWIRE) -- Water and Wastewater Treatment Equipment Market Analysis
The global water & wastewater treatment equipment market will touch USD 82.15 Billion at a 5.8% CAGR in the forecast period (2020- 2027), states the current Market Research Future (MRFR) report. Water treatment equipment is used to improve the water quality to make it ideal for specific end uses. This end use could be water recreation, river flow maintenance, irrigation, industrial water supply, drinking, or other uses which includes being returned safely to the environment. It helps to remove undesirable components and contaminants, or reduce their concentration to make the water fit for its desired end use. This form of treatment is essential to human health and enables humans in benefiting from both irrigation use and drinking.
Alluring Features that Spur Market Growth
According to the MRFR report, there are numerous factors that are propelling the water and wastewater treatment equipment market growth. Some of these entail the rapid growth of water and wastewater treatment equipment, demand for clean water in different industries such as oil and gas, textiles, semiconductors, metal and mining, power, pulp and paper, pharmaceuticals, chemicals, and food and beverage, strict government emission regulations, increasing urbanization, rising scope for maintenance and operations, growth in emerging economies, the growing population, development of technology, rapid urbanization, growth in infrastructure, and increasing need in the municipal and industrial applications. The additional factors adding market growth include lack of fresh water resources, increasing water pollution, and increasing industrial activities.
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On the contrary, high cost of water and wastewater treatment equipment coupled with high installation and operational cost may impede the global water and wastewater treatment equipment market growth over the forecast period.
COVID-19 Analysis
The worldwide economy has been adversely hit by the COVID-19 pandemic. To curb the spread of this deadly virus, governments all over the world have announced complete or partial lockdowns, majorly affecting several services and manufacturing industries including water and wastewater treatment. The crisis is projected to slow down investments in the worldwide water sector. It also boosted the significance of operational reliability owing to the cost of disruption. Several large users of water have reduced or downscaled activities leasing to fall in industrial demand. The fall in demand from large commercial and industrial users owing to travel restrictions and lockdowns is likely to reduce revenues to water utilities significantly. Higher revenue losses have been projected across the entire water supply chain that includes consultants, chemical suppliers, contractors, technology companies, and operators.
Further, operations may be impacted owing to the growing risk of infection amongst utility staff. Flexibility and operational continuity is the key for keeping sanitation services and essential water services running and simultaneously pushing forward the ongoing construction projects. Most governments identified people that work in the water & sewage industry as essential workers allowing utilities in maintaining continuity of service. Social distancing protocols mean that utilities can retain only operationally critical staff onsite. Logistics disruptions and supply chain have also been reported. This has affected the need for water and wastewater treatment.
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Market Segmentation
The MRFR report highlights on an inclusive analysis of the global water and wastewater treatment equipment based on application and treatment type.
By treatment type, the global water and wastewater treatment equipment market is segmented into sludge treatment, disinfection, membrane separation, and others. Of these, the membrane separation segment will lead the market over the forecast period.
By application, the global water and wastewater treatment equipment market is segmented into industrial and municipal. Of these, the municipal segment will dominate the market over the forecast period.
Regional Analysis
APAC to Head Water and Wastewater Treatment Equipment Market
Geographically, the global water and wastewater treatment equipment market is bifurcated into Europe, North America, the Asia Pacific, & Rest of the World (RoW). Of these, the APAC region will head the market over the forecast period. China and India being biggest consumers of water owing to rapid industrialization and population, the disposal of wastewater from industries, rapid adoption of water and wastewater treatment equipment, strict rules and regulations imposed by the government in South Korea and Japan, Japan being a major contributor of water and wastewater treatment equipment, potable water scarcity, the presence of several water and wastewater treatment equipment manufacturers, growing demand for treated water from different end use industries like industrial and municipal applications in India, Japan, South Korea, and China, and the easy accessibility of raw materials that has attracted global investors and companies in setting up their production facilities are adding to the global water and wastewater treatment equipment market growth in the region.
Europe to Hold Second-Largest Share in Water and Wastewater Treatment Equipment Market
In Europe, the global water and wastewater treatment equipment market is predicted to hold second-largest share over the forecast period. Stringent directives and laws like Drinking Water Directive, Urban Wastewater Treatment Directive (UWWTD), and Water Framework Directive (WFD), increase spending on water and wastewater treatment equipment, immense water pollution in Brazil that is resulting in environment and health concerns, leaking landfills, sewage, and industrial waste, and growth in end user industries like refineries, pharmaceuticals, and food and beverages are adding to the global water and wastewater treatment equipment market growth in the region.
North America to Have Favorable Growth in Water and Wastewater Treatment Equipment Market
In North America, the global water and wastewater treatment equipment market is predicted to have favorable growth over the forecast period. The rise in water-intensive gas exploration activities, significant need for industrial water reuse, increasing trend of water recycling and reusing, and prevailing stringent water regulations are adding to the global water and wastewater treatment equipment market growth in the region.
RoW to Have Sound Growth in Water and Wastewater Treatment Equipment Market
In RoW, the global water and wastewater treatment equipment market is predicted to have sound growth over the forecast period. Outbreak of diseases like cholera, and insufficient water management and limited supply are adding to the global water & wastewater treatment equipment market growth in the region.
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Key Players
The leading players profiled in the water and wastewater treatment equipment market report include Corix Water System (Canada), Kemira Oyj (Finland), Xylem Inc. (U.S.), Calgon Carbon Corporation (U.S.), Napier Reid Ltd. (Canada), Fluence Corporation Limited (U.S.), WPL Limited (U.K.), Veolia Water Technologies (France), Aquatech International Corporation (U.S.), and GE Water & Process Technologies (U.S.), among others.
The water & wastewater treatment equipment market is fragmented and also competitive with the presence of many domestic as well as international industry players. They have incorporated assorted strategies to stay at the forefront and also cater to the surging needs of the customers, including collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.
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