(USGovernment-News.Com, November 12, 2020 ) The report "Wastewater Treatment Services Market by Type (Design & Engineering Consulting, Building & Installation, Operation & Process Control, Maintenance & Repair), End User (Municipal, Industrial), and Region - Global Forecast to 2024" The wastewater treatment services market size is projected to reach USD 65.1 billion by 2024, at a CAGR of 6.1% from USD 48.5 billion in 2019.
The growth of the wastewater treatment services market is triggered primarily by the stringent regulatory and sustainability mandates for wastewater discharge at both municipal as well as industrial level. Various emission control acts and regulations have been legislated across most of the countries, worldwide to control the level of water pollution as well as to ensure the disposed solid and liquid wastes are less harmful to the environment. Numerous developing countries, such as Brazil, South Africa, India, China, and Saudi Arabia, have set five-year targets to reduce pollutant levels.
Growth in industrial wastewater is one of the major driving factors for the wastewater treatment services industry. The growing industrial wastewater in emerging markets such as China, Germany, Saudi Arabia, and India, is driving the adoption of wastewater treatment services such as design & engineering consulting, building & installation, and operation & process control services. The norms of pollution control boards existing in various countries ensure that the Environmental Performance Index of a nation is maintained. Concepts of circular economy and triple bottom line are crucial to ensure that the businesses that are currently operating remain sustainable, imbibing sustainability as a core value. All these factors are driving the wastewater treatment services market at the global level. Collectively, all these reasons will support the demand for wastewater treatment services in the coming years.
Operation & process control is the largest segment of the wastewater treatment services market.
Operation & process control services estimated to lead the wastewater treatment services market, in terms of value, in 2019. This dominance is mainly due to demand from industries and municipal corporations for facility operation, routine maintenance, parameters monitoring, statistical process control, and report generation. The growth is expected to be the highest in the market in APAC due to the high demand from end-use industries.
Browse in-depth TOC on "Wastewater Treatment Services Market” 111 - Market Data Tables 43 - Figures 205 - Pages
Power generation is estimated to be the largest end-use industry of the wastewater treatment services market during the forecast period.
The power generation is estimated to be the largest end-user industry of wastewater treatment services during the forecast period. In an attempt to meet the set targets of carbon emission, many countries have started investing heavily in renewable energy sources, such as wind and solar energy. The demand for wastewater treatment services in power generation is driven primarily by the APAC market. APAC accounts for over 40% of the global power demand. Over 70% of power generation is carried out by the steam turbines technology. As the demand for power in countries including India, Indonesia, and Vietnam is projected to increase, the wastewater treatment services market will witness substantial growth.
APAC is estimated to be the largest market for wastewater treatment services during the forecast period.
APAC is the largest market for wastewater treatment services, followed by North America and Europe. Rapid industrialization, increasing municipal wastage, water scarcity, and growing government spendings drives the regions wastewater treatment services market. In the previous few years, the market has experienced a change from traditional wastewater treatment services to modern wastewater treatment services. High-spending power of end-user industries and stringent regulatory will continue to drive the wastewater treatment services market in the region during the forecast period.
The key market players profiled in the report include as Veolia (France), SUEZ (France), Xylem (US), Ecolab (India), Evoqua Water Technologies (US), Thermax (India), and W.O.G. Group (US), Golder Associates (Canada), and SWA Water Holdings (Australia)).
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