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Water Treatment Global Market Report 2023: Sector to Reach $460.68 Billion by 2028
Dublin, March 01, 2023 (GLOBE NEWSWIRE) -- The "Global Water Treatment Market: Analysis By Application, By Product and Services, By Equipment Type, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The global water treatment market was valued at US$303.55 billion in 2022. The market value is forecasted to grow to US$460.68 billion by 2028.
People enjoy access to drinking water today, the future supply of clean water for human consumption, and industrial use, holds significant challenges. Ensuring adequate clean water supplies for ever growing populations would likely require increased investment in water treatment services, both to ensure that water quality meets ever tightening standards, and to support increased rates of reuse.
Water treatment is a process of improving water quality and transforming it into an effluent that can be reused for specific end use like drinking, industrial water supply, irrigation, river flow maintenance, water recreation, etc., or safely returned to the nature with a minimized negative impact on the environment.
Water treatment process is mainly associated with removal of contaminants and undesirable components, or reducing the concentration of harmful chemicals to improve water quality for the desired end-use.
Factors such as lack of fresh water resources, rapidly developing emerging economies, rising concerns associated with environment degradation, increasing investment by companies in advanced wastewater treatment technology and growing emphasis on water quality and public health are expected to drive the overall market growth in the forecasted period.
Alongside these trends, there is increasing pressure upon water intensive sectors to improve their efficiency, and increase reuse of wastewater. These factors drive the need for more effective pollutant removal from water, and is likely to drive continued investment in water treatment. The market is anticipated to grow at a CAGR of approx. 7% during the forecasted period of 2023-2028.
Market Dynamics:
Growth Drivers: The global water treatment market has been growing over the past few years, due to factors such as rapid urbanization, increasing demand from end user industries, rising health awareness, water scarcity, climate change, stringent wastewater government regulations, etc. Effluents from companies processing chemicals, pesticides, rare materials & other harmful materials are proven to hazardous if not adequately treated before dumping into the fresh water resources. Governments of various countries are increasingly implementing stringent wastewater regulations along with punishments for perpetrators in terms of increased jail time & hefty fines, incentivizing many industries to build their own water treatment plants or employ wastewater treatment solutions & services, provided by wastewater treatment companies. Thus, rising stringent regulations requiring industrial producers to either recycle or clean wastewater before discharging in order to achieve sustainability goals will continue to increase the demand for wastewater treatments, boosting the growth of global water treatment market.
Challenges: However, the market growth would be negatively impacted by various challenges such as lack of infrastructure facilities, high installation, equipment and operations cost, etc. High cost of equipment and its operation act as a restraining factor in the water treatment market. Disinfection technologies, desalination equipment and Ozonation and UV equipment are very costly for developing and underdeveloped countries and requires considerable amount of energy to be operated, resulting in high overall equipment and energy consumption costs. So, absence of basic infrastructure and equipment that are required for distribution and storage of water in both developing and underdeveloped economies will continue to impend the growth of global water treatment market.
Trends: The market is projected to grow at a fast pace during the forecasted period, due to various latest trends such as increasing integration of artificial intelligence (AI), growing demand for internet of things (IoT) solutions, rapid advancements in water treatment technologies, increasing adoption of nanotechnology, thermal hydrolysis, etc. Artificial intelligence in water treatment processes is associated with higher automation, reduced operational cost, low occurrence of human error and optimizing use of chemicals with AI models successfully predicting the performance of different absorbents for the removal of pollutants from water. AI also helps in getting real-time data on the quality of water, predicting emergency events by observing data patters, optimizing energy use, meeting effluent compliance standards and detecting the amount and composition of toxic contaminants present in the effluent, and increasing the effectiveness & efficiency of providing wastewater treatment solutions. Therefore, increasing integration of AI in water treatment processes is expected to boost the growth of global water treatment market in the forecasted period.
Impact Analysis of COVID-19 and Way Forward:
COVID-19 brought in many changes in the world in terms of reduced productivity, loss of life, business closures, closing down of factories and organizations, and shift to an online mode of work.
Lockdown policies, imposed by the government to prevent the spread of virus forced various end user industries to either shut down or run low on production capacity, resulting in lower production and manufacturing activities by various end user industries and since end user industries including oil & gas, power plant, mining, pulp & paper, etc., demand water treatment solutions to remove impurities and chemical contaminants from effluent before releasing it into the environment in order to comply to stringent wastewater government regulations and achieve sustainability goals, there was a sudden fall in the demand for water treatment solutions as result of reduced production activities, having negative impact on the global water treatment market during the period, 2019-2020.
Competitive Landscape:
The market for water treatment has been fragmented due to the presence of numerous international, regional and local players in the market. The main objective of key players operating in the market is to adopt technologies such as AI, advanced diagnostics and nanotechnology to build an effective water treatment process for treating all the impurities present in a water resource.
The key players of the market are:
Veolia Environnement SA
DuPont de Nemours, Inc.
Xylem, Inc.
3M Company
Pentair PLC
Ecolab Inc.
Kemira Oyj
BASF SE
DOW Inc.
Kurita Water Industries Ltd.
United Utilities Group PLC
Kingspan Group PLC (Kingspan Water & Energy)
SNF
Hydro International UK Ltd.
BioMicrobics, Inc
Product launches, mergers & acquisitions and partnership & collaborations are the main strategies adopted by water treatment players to expand market share and gain competitive advantage. For instance, on January 23, 2023, Xylem, Inc., and Evoqua announced that they have entered into a definitive agreement under which Xylem would acquire Evoqua in an all-stock transaction that reflects an implied enterprise value of approximately US$7.5 billion.
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Water Treatment: An Overview
2.1.1 Definition of Water Treatment
2.1.2 Benefits of Water Treatment
2.1.3 Stages of Water Treatment Process
2.2 Water Treatment Segmentation: An Overview
2.2.1 Water Treatment Segmentation
3. Global Market Analysis
3.1 Global Water Treatment Market: An Analysis
3.1.1 Global Water Treatment Market: An Overview
3.1.2 Global Water Treatment Market by Value
3.1.3 Global Water Treatment Market by Application (Municipal and Industrial)
3.1.4 Global Water Treatment Market by Product and Services (Services, Equipment and Chemicals)
3.1.5 Global Water Treatment Market by Region (Asia Pacific, North America, Europe and Rest of the World)
3.2 Global Water Treatment Market: Application Analysis
3.2.1 Global Water Treatment Market by Application: An Overview
3.2.2 Global Municipal Water Treatment Market by Value
3.2.3 Global Municipal Water Treatment Market by Segments (Production of Drinking Water and Wastewater Treatment)
3.2.4 Global Industrial Water Treatment Market by Value
3.2.5 Global Industrial Water Treatment Market by Sector (Oil and Gas, Power Generation, Food and Beverages, Refining and Petrochem, Mining, Pulp/Paper, Micro Electronics, Pharmaceuticals and Others)
3.3 Global Water Treatment Market: Product and Services Analysis
3.3.1 Global Water Treatment Market by Product and Services: An Overview
3.3.2 Global Water Treatment Services Market by Value
3.3.3 Global Water Treatment Equipment Market by Value
3.3.4 Global Water Treatment Equipment Market by Type (Membrane Separation, Biological, Sludge, Disinfection and Others)
3.3.5 Global Water Treatment Chemicals Market by Value
3.4 Global Water Treatment Equipment Market: Type Analysis
3.4.1 Global Water Treatment Equipment Market by Type: An Overview
3.4.2 Global Membrane Separation Water Treatment Equipment Market by Value
3.4.3 Global Biological Water Treatment Equipment Market by Value
3.4.4 Global Sludge Water Treatment Equipment Market by Value
3.4.5 Global Disinfection Water Treatment Equipment Market by Value
3.4.6 Global Others Water Treatment Equipment Market by Value
4. Regional Market Analysis
5. Impact of COVID-19
5.1 Impact of COVID-19 on Water Treatment Market
5.2 Post COVID-19 Impact on Water Treatment Market
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rapid Urbanization
6.1.2 Increasing Demand from End User Industries
6.1.3 Rising Health Awareness
6.1.4 Water Scarcity
6.1.5 Climate Change
6.1.6 Stringent Wastewater Government Regulations
6.2 Challenges
6.2.1 High Installation, Equipment and Operations Cost
6.2.2 Lack of Infrastructure Facilities
6.3 Market Trends
6.3.1 Integration of Artificial Intelligence (AI)
6.3.2 Growing Demand of Internet of things (IoT) solutions
6.3.3 Rapid Advancements in Water Treatment Technologies
6.3.4 Increasing Adoption of Nanotechnology
6.3.5 Thermal Hydrolysis
7. Competitive Landscape
7.1 Global Water Treatment Market Players: Technology Comparison
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/74wkjl-water?w=12
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