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(Health-NewsWire.Net, December 13, 2022 ) The global "Wastewater Treatment Services Market size is estimated to be USD 53.0 billion in 2021 and is projected to reach USD 71.6 billion by 2026, at a CAGR of 6.2% between 2021 and 2026. Growing population, expanding manufacturing industry, urbanization, and regulatory requirements are the major drivers of the Wastewater Treatment Services Market. Initiatives by manufacturing industries and state bodies for low waste generation and growing awareness about new water treatment technologies are some of the factors which are likely to boost the wastewater treatment services market.
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An increase in the wastewater generated from municipal and industrial segments is providing ample opportunities for the wastewater treatment service providers. The wastewater treatment services are used for managing the overall wastewater treatment operations, including designing and maintenance of the wastewater treatment plant. The various types of services are design & consulting, building & installation, operations & control, maintenance & repair, and other services. Growing concerns about the environment and growing acceptance of zero discharge policy, are increasing the scope of wastewater treatment services in municipal as well as industrial end-use. The operation & process control segment is the leading service type generating maximum industrial wastewater. The segment accounted for the largest share of the global wastewater treatment services market in 2020, in terms of value, followed by building & installation segment. The larger share of operations & process control can be attributed to aging wastewater treatment plants in the developed and developing countries and increasing load of wastewater contamination on the existing wastewater treatment capacities.
On the basis of end-user, the wastewater treatment services market is segmented into municipal and industrial. Municipal accounted for the largest share in 2020. One of the essential factors for human health, social and economic development, and the ecosystem is the availability and supply of quality water. However, the natural environment is getting degraded and the growing population is making it challenging to ensure sufficient and safe water supplies for everyone. A major part of the solution is to produce less water pollution and improve the way we manage wastewater. For a sustainable economy, it is very important to value wastewater for its potential, rather than discard it. Safe wastewater management could help protect our ecosystems and give energy, nutrients and other recoverable materials; it can also protect from the negative effects of wastewater on health and environment.
The wastewater treatment services can be availed by various industries including chemical, pharmaceutical, oil & gas, food, pulp & paper, metal & mining, and power generation. The wastewater generated in each industry differs in terms of the contamination level of the water. The technologies used for the treatment of wastewater in each industry are different, and the services provided for them are also different. Power generation and oil & gas industries produce highly contaminated wastewater as compared to other industries like food, paper & pulp, chemical and pharma and metal and mining.
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On the basis of region, APAC is projected to be the fastest-growing market during the forecast period. The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The wastewater treatment services market is growing significantly and offers opportunities for various industries. The APAC region constitutes approximately 61.0% of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest wastewater treatment services market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.
The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally The key players operating in the wastewater treatment services market are trying to increase their scope of services to address the increasing demand. Veolia Water Technologies (France), SUEZ (France), Xylem (US), Evoqua Water Technologies (US), Thermax (India), and Ecolab (US) are the leading providers of wastewater treatment services, globally.
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