The market for water and wastewater treatment technologies is likely to grow at a CAGR of 9% during the forecast period 2019 - 2024. One of the major driving factors of the market is the rapidly diminishing freshwater resources across the globe. However, lack of awareness on appropriate usage of water treatment techniques is likely to restrain the market.
- Increasing demand from shale gas exploration activities is also likely to boost the market growth.
- Active research on water treatment technologies is likely to provide opportunities for market growth in the future.
- Middle East & Africa is likely to witness the highest growth rate during the forecast period.
Key Market Trends
Municipal Water and Wastewater Treatment to Dominate the Market
- Wastewater treatment is necessary and used across the globe in different cities. The major applications of treatment technologies include preliminary treatment, primary and secondary treatment, tertiary treatment, biological nutrient removal (BNR), resource recovery, energy generation, etc.
- Moreover, municipal wastewater treatment involves a lot of biomass therefore, biological treatment is a major step used for the treatment of bio waste.
- North America and Europe are adopting the latest technologies in wastewater treatment at a faster rate than in other regions. The developed regions of North America and Europe are expected to continue the momentum of adaptation of the latest technologies.
- The majority of drinking water used in Israel and Saudi Arabia is generated from the desalination process which is likely to boost the demand for municipal water and wastewater treatment technologies.
- Hence, municipal water and wastewater treatment industry is likely to dominate the market during the forecast period.
Asia-Pacific to Dominate the Market
- In 2018, Asia-Pacific has accounted for the major share of the global water and wastewater treatment technologies market owing to high demand from countries like China and Japan.
- China has been discharging more wastewater than industrial wastewater in the recent times. Adding to the issue is the huge problem of pollution, especially in the major industrial locations of the country.
- Hence, the Chinese government began to concentrate more on the reorganization of the pollutant treatment measures, including water and industrial wastewater treatments which majorly includes biological treatment, which comprises of aerobic treatment, anaerobic treatment, etc.
- In India, the major industries are contributing to an extensive discharge of wastewater which is resulting in the increasing usage of wastewater treatment technologies in the region.
- Hence, Asia-Pacific is likely to dominate the market during the forecast period.
The market for water and wastewater treatment technologies is moderately fragmented as the market share is divided among a large number of players. Some of the key companies of the market include Veolia Environmental, Suez, GE Water, and Evoqua Water, among others.
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