PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408921
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408921
Water Utility Services Market size was valued at USD 69,655 Million in 2023, expanding at a CAGR of 3.5% from 2024 to 2032.
The firms, enterprises, or entities that supply water and offer wastewater treatment facilities to homes, businesses, and industrial units are referred to as the water utility services industry. In addition, it involves gathering stormwater and wastewater for treatment, treating it, and selling portable water.
The rising population and rapid urbanization are projected to fuel growth in the global market for water utility services. The water demand is predicted to increase in tandem with the global population growth. In addition, as cities become increasingly urbanized, water utility service providers will likely face increased demand to supply more water to the expanding number of customers. This is anticipated to propel market expansion as water supply companies search for ways to satisfy the population's rapidly increasing demand. Additionally, the increasing pace of industrialization, particularly in industries that use water extensively, such as manufacturing and textiles, among many other industries, maybe the primary driver of industry expansion. Since water is a need for life, service providers are expected to increase their investments in systems and technologies that will enable them to satisfy demand.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. Because of the well-established, well-thought-out network and efficient water utility services, these areas have some of the most efficient water management systems in the world. Additionally, there is a strong focus on recycling wastewater for future use and governments and the general public take proactive measures to ensure reduced water waste. The government's strict rules regarding wastewater treatment for industrial facilities benefit the local market.
The key players operating in the market are: United Utilities Group PLC, Suez SA, American Water Works Company Inc., Aqua America Inc., Veolia Environment SA, Severn Trent PLC, Thames Water Utilities Limited, Yorkshire Water Services Limited, Anglian Water Services Limited, Scottish Water, Southern Water Services Limited, South West Water Limited, Northumbrian Water Limited, BHP Billiton Limited, Wessex Water Services Limited, Welsh Water and Rio Tinto Group among others.
In August 2022, the municipality of Oro Valley, Arizona's water utility service provider unveiled a brand-new, effective customer support site with invoicing systems. Customers of Water and Stormwater Utility will be able to pay their bills online and have more control over account management because of the new software.
The scope of this report covers the market by its major segments, which include as follows: