Wastewater Treatment Market 2022
Growth Strategy, Developing Technologies, Investment Opportunities
According to research report published by Astute Analytica, the global Wastewater Treatment Market is expected to reach US$ 462.49 Billion by 2030 from USD 250.38 Billion in 2021, at a compound annual growth rate (CAGR) of 7.41% during forecast period.
As increased environmental initiatives by government bodies for low waste generation attributes to the growth of global wastewater treatment market. Nations across the globe have enforced strict norms for illegal discharge of against wastewater and stricter norms to prevent naturally polluting water bodies. As per the US EPA (United States Environmental Agency), no discharge zone and clean water act were created to measure and control untreated sewage discharge.
In China, Water Pollution prevention and Control law (WPPCL). Also, Action Plan by MEP (Ministry of Environment Protection) for prevention of water pollution with Integrated Wastewater Discharge Standard. These initiatives emphasis on water quality and public health drives demand for regulating untreated wastewater.
Irrespective of several growth factors, wastewater treatment market faces challenges such as high installation, equipment and operations costs and aging infrastructure in developed countries. As per the recent report of UN-INWEH (United Nation-Institute for Water, Environment and Health), China has the largest water storage Infrastructure (around 23,841 dams that makes 40% of world’s total) and around 55% of world’s total are found in around just four Asian countries – China, Japan, India, and Republic of Korea majority of which will reach 50 years threshold soon. This reflects a blend towards ageing Infrastructure system that prose direct risk to stability of various systems
Global Wastewater Treatment Market by Offerings
Due to rising urbanization, there has been a corresponding increase in the demand for consumption of water, as one of life’s most necessities. Technologies account for more over half of the market share in the offering segment of the wastewater treatment market in the year 2021, while services and treatment chemicals together account for ~35% of share. Innovation in wastewater treatment technologies such as membrane filtration systems, automatic variable filtration (AVF), advanced oxidation processes (AOP), and UV irradiation have been designed, evaluated, and implemented to satisfy both current and future treatment needs. However, services segment is projected to expand at a faster growth rate of 8.3% when compared to technologies and chemicals.
Global Wastewater Treatment Market by Region
Geographically, North America holds the highest share in global wastewater treatment market in 2021, by 38.50%. As the region has developed industrial sector and the market is growing more due to adoption of stringent regulations towards environment. Furthermore, the APAC region includes around 61% of the world’s population and the region’s manufacturing and processing industries are quickly expanding. In addition, the region has the largest wastewater treatment market, with China being the key market with tremendous growth potential. Thus, Asia Pacific is predicted to be the fastest-growing region by 8.62% in wastewater treatment market throughout the forecast period.
Impact of Covid – 19 on Global Wastewater Treatment Market
The breakout of COVID-19 has enhanced the necessity of operational reliability. Many significant water users have scaled back or decreased their operations, resulting in lower industrial demand. Water utilities are projected to lose a considerable amount of money due to a drop in demand from large industrial and commercial customers because of lockdowns and travel restrictions. According to a survey conducted by the Global Water Leaders Group, COVID-19 will reduce industrial water usage by an average of 27%.
However, numerous Government bodies and non-profit organizations are taking initiatives to develop awareness regarding hygiene during the pandemic.
Source: https://www.astuteanalytica.com/ask-for-customization/wastewater-treatment-market
