As the chemical industry moves into 2022, strong demand for both commodity and specialty chemicals should keep prices robust throughout the year. However, the industry could face margin pressures amid raw material cost inflation, which will likely remain high through the first half of 2022.
The global water and wastewater treatment market size was USD 281.75 billion in 2021. The market is projected to grow from USD 301.77 billion in 2022 to USD 489.07 billion in 2029 at a CAGR of 7.1% during the 2022-2029 period. This information is presented by Fortune Business Insights, in its report, titled, “Water and Wastewater Treatment Market, 2022-2029.”
Surging competitiveness has resulted in the prime companies to augment their service network. Global firms are intentionally purchasing local companies to maintain their dominance in the global market.
List of Key Players Mentioned in the Water and Wastewater Treatment Market Report:
SUEZ Worldwide (France)
Evoqua Water Technologies LLC (U.S.)
Pentair PLC (U.K.)
American Water (U.S.)
Hydro International (U.K.)
Aquatech International LLC (U.S.)
Trojan Technologies (Canada)
BioMicrobics Inc. (U.S.)
Kurita Water Industries Ltd. (Japan)
ASIO (Czech Republic)
The report offers treasured perceptions attained by detailed review done by our analysts. An all-encompassing research was directed to offer the assessed size and share of the water and wastewater treatment market. The data gained and applied to estimate the shares for manifold sections at all levels such as global, national, and regional is acquired from detailed interviews with various stakeholders. Moreover, we have obtained admission to numerous global and regional paid records to provide detailed information to make business investment conclusions simple for our clients and shareholders.
Services Segment to Gain Momentum due to Larger Investments
Based on segment, the market is classified into chemicals, equipment, and services. The services segment is expected to grow at the highest pace due to companies focusing on constructing novel treatment plants and maintenance of existing facilities.
By application, the market is divided into municipal and industrial.
Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Strict Guidelines on Waste Treatment to Encourage Water and Wastewater Treatment Market Growth
With technological progressions in production techniques, the quantity of wastewater produced has increased abruptly in the recent years. Sewage from corporations and factories processing chemicals, rare metals, pesticides and other dangerous chemicals and materials are harmful to the environment and are likely to trigger tragic impacts if not sufficiently treated prior to releasing in freshwater resources.
However, with severe protocols being inflicted on wastewater treatment for businesses, they are prevented from having progressive treatment technologies set up at the locations owing to huge capitalizations to build such factories.
North America to Lead Stoked by Augmented Demand for Clean and Treated Water
North America held the largest water and wastewater treatment market share and stood at USD 109.52 billion in 2021. It is anticipated to dominate in the upcoming future. This is accredited to the huge demand for treated water from the beverages and pharmaceuticals sectors in nations such as the U.S.
The market for water and wastewater treatment in Asia Pacific is predicted to exceed North America soon in terms of revenue share. This is backed by the factor that huge-scale capitalization by countries such as China, India, and Southeast Asia in order to refine the water superiority and sanitation amenities in the region.
European market will be strengthened by the restoration being carried out in the prevailing water treatment services and sustain structure in the region to boost the implementation of ground-breaking wastewater treatment solutions in the upcoming years.
Purchases Originated by Significant Companies to Sponsor Market Growth
The dominating players in the market repetitively are looking to apply competent approaches to strengthen their brand value as well as endorse the global market growth of the product by facing least imaginable complications. One such competent scheme is securing competitive companies and further safeguarding a lucrative opportunity for both the engaged corporations.
January 2022 – Xylem and Isle Utilities partnered to scale the breakthrough ‘Trial Reservoir’ water technology. It will create a pool of funding to new companies to undertake trials. Also, by removing the financial uncertainty, new companies will be able to come together and to better solve the water problems.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.