(PharmaNewsWire.Com, July 27, 2022 ) According to a new market research report titled, ‘Water and Wastewater Treatment Technologies Market by Type (Membrane Separation & Filtration, Sludge Management Technology, Activated Sludge), Application (Municipal, Residential, Industrial), and Geography - Global Forecasts to 2029,’ the water and wastewater treatment technologies market is projected to grow at a CAGR of 5.4% during the forecast period to reach $128.78 billion by 2029.
The growth of this market is attributed to rapidly diminishing freshwater resources and the growing need for water reclamation and reusable technologies. However, a lack of awareness of appropriate usage of water treatment techniques and the high cost of wastewater treatment technologies are hindering the growth of the wastewater treatment technologies market. In addition, the growing demand for energy-efficient and advanced water treatment technologies is expected to create significant growth opportunities for the players operating in this market. The aging and deterioration of existing water infrastructure is a major challenge to the growth of this market.
Impact of COVID-19 on the Water and Wastewater Treatment Technologies Market
The COVID-19 pandemic severely affected numerous businesses across the globe. Several government bodies imposed nationwide lockdowns to curb the spread of the disease, impacting many manufacturing and service industries, including the water and wastewater treatment technologies market.
The pandemic slowed down investments for installing new water and wastewater treatment plants in many micro, small, and medium-sized enterprises/businesses worldwide due to the decline in revenues and outcomes, resulting in decreased industrial demand in many large sectors using water downscaled or reduced activities. Due to lockdowns and travel restrictions, the decline in demand from large industrial and commercial users significantly reduced water utility revenues.
However, the increasing demand for wastewater treatment is attributed to the growing necessity for an effective approach to properly dispose of industrial wastewater. In addition, the COVID-19 pandemic resulted in the need for proper and advanced wastewater treatment in hospitals to curb the spread of the virus, decentralizing wastewater treatment plants with multiple disinfection barriers in quarantine centers and isolation wards. These factors are expected to impact the water and wastewater treatment market.
The global water and wastewater treatment technologies market is segmented by type, application, and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.
Based on type, the water and wastewater treatment technologies market is segmented into membrane separation & filtration, sludge management technology, activated sludge, activated carbon technology, clarification, chlorination, industrial demineralization, membrane bioreactor (MBR), UV and ozone, dissolved air flotation, electrochemical scale treatment systems, electrochemical water treatment technology, and other treatment technologies. The membrane separation & filtration technology segment is further segmented into reverse osmosis (RO) membranes, ultrafiltration (UF) membranes, microfiltration (MF) membranes, nanofiltration (NF) membranes, and other filtration technologies. In 2022, the membrane separation & filtration segment is estimated to account for the largest share of the water and wastewater treatment technologies market. The growth of this segment is attributed to the growing emphasis on reducing the usage of chemicals in water treatment, rising demand for low energy-consuming water treatment processes, low installation, and energy costs, and easy accessibility.
Based on application, the water and wastewater treatment technologies market is segmented into municipal, residential, and industrial. In 2022, the municipal segment is estimated to account for the largest share of the water and wastewater treatment technologies market. The growth of this segment is attributed to the rising scarcity of potable water, coupled with the growing population and increasing clean water demand. However, the industrial applications segment is projected to grow at the fastest CAGR during the forecast period. The growth of this segment is attributed to the growing industrialization and urbanization, the rising focus on water quality from the industrial sector, the growing necessity for recycling and reusing water, and the increasing advancements in industrial wastewater treatment technologies. The industrial application segment is further segmented into food & beverages, pharmaceuticals & chemicals, power generation, pulp & paper, oil & gas, mining, petrochemical, electronics & semiconductors, and other industrial applications.
Based on geography, in 2022, the Asia-Pacific region is estimated to account for the largest share of the water and wastewater treatment technologies market. The large market share is attributed to rapid growth in population and urbanization, increased environmental deterioration, increased demand for water treatment technologies to provide clean and potable water, and the increasing number of investments in water infrastructure by public sector organizations in the region.
Some of the key players operating in the water and wastewater treatment technologies market are Suez S.A. (France), Veolia Environment SA. (France), Xylem Inc. (U.S.), DuPont de Nemours, Inc. (U.S.), United Utilities Group PLC (U.K.), Kingspan Group plc (U.K.), The Dow Chemical Company (U.S.), BASF SE (Germany), Kurita Water Industries Ltd. (Japan), BioMicrobics, Inc. (U.S.), Calgon Carbon Corporation (U.S.), Trojan Technologies Inc. (Canada), Thermax Limited (India), WOG Group (Singapore), SWA Water Technologies PTY LTD. (Australia), Burns & McDonnell (U.S.), Adroit Associates Private Limited (India), Sauber Environmental Solutions Pvt. Ltd. (India), and Clean TeQ Water Limited (Australia).
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