PUBLISHER: Allied Market Research | PRODUCT CODE: 1140075
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140075
The global septic tanks market size was valued at $4,839.0 million in 2021, and is projected to reach $8,033.5 million by 2031, registering a CAGR of 5.2% from 2022 to 2031.
Underground wastewater treatment facilities are called septic tanks. These are commonly employed in rural regions without centralized sewage systems. Septic tanks use combination of technology and nature to clean wastewater from residential plumbing produced by bathrooms, kitchen drains, and laundry. Water from residential and non-residential sector runs out from one drainage system into septic tanks.
Rise in construction activities in highly populated countries such as India, China, the U.S., and Germany propel the septic tanks market growth. Moreover, rising awareness about wastewater treatment and better sanitation facility will increase the demand for septic tanks and hence will drive the market growth. In addition, rising investment in municipal infrastructure projects in developed countries are providing lucrative growth in the market.
Majority of the population is concentrated in emerging economies such as Brazil, China, India, and Eastern European nations. This makes the septic tank market play a crucial role as these regions witness continuous development of infrastructure. Growth in the construction industry and increase in number of residential complexes are major factors that drive growth of the septic tank market. Moreover, urbanization has increased considerably over the last decade, and is expected to continue to increase during the forecast period, owing to rapid population growth in developing countries such as India and China. Therefore, it is significantly impacting infrastructure development, which is expected to lead to rise in demand for the septic tank market for wastewater management applications.
The septic tanks market is segmented on the basis of material type, capacity, application, and region. By material type, the market is categorized into concrete, plastic, fiberglass, and others. Depending on capacity, it is fragmented into under 1000 liters, 1000-5000mliters, and more than 5000 liters. On the basis of application, it is categorized into residential and non-residential. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
Key Market Segments
By Material type
By Capacity
By Application
By Region