Global water & wastewater treatment equipment market worth est $33.22 bn by 2022
- November 9, 2017
- Category: Africa, Asia
The global water and wastewater treatment equipment market market is projected to grow from $24.62 billion in 2017 to $33.22 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 6.2% between 2017 and 2022, according to new research.
The report Water & Wastewater Treatment Equipment Market by Product Type, Disinfection Application and Region – Global Forecast to 2022 says the market growth is attributable to the increasing demand from municipal and industrial applications across the globe.
This market depends on the growth of various water and wastewater treatment technologies, such as disinfection, filtration, desalination, and testing.
Globally, there is a rise in demand for safe drinking water owing to the decreasing amount of freshwater resources availability. The increasing use of these technologies in water treatment will therefore boost the water and wastewater treatment equipment market during the forecast period.
Based on product type, the desalination equipment segment is projected to grow at the highest CAGR during the forecast period.
The Water & Wastewater Treatment Equipment Market has been segmented on the basis of product type into filtration, disinfection, desalination, and testing. The filtration equipment segment accounted for the largest share of the market in 2016, whereas the desalination segment is projected to grow at the highest CAGR during the forecast period.
Growth in desalination segment will ultimately drive the market
The scarcity of fresh water, increasing wastewater reuse, and need for higher quality process water across various industrial sectors are propelling the demand for water desalination equipment around the globe. Growth in the desalination segment will ultimately drive the water and wastewater treatment equipment market, the report says.
The municipal application segment is projected to grow at the highest CAGR between 2017 and 2022 – the segment accounted for the largest share of the market in 2016. Water and wastewater treatment equipment is extensively used in residential and non-residential applications. Municipalities treat water to meet the growing demand for potable water. The sources of water for municipal purposes are lakes, rivers, underground wells, and others.
Water from these sources is often polluted and contains a large amount of stain-producing dissolved iron and manganese. Water and wastewater treatment equipment is employed to treat these pollutants.
Increased demand from municipalities for treated water coupled with stringent regulations for water treatment is expected to supplement the growth of water and wastewater treatment equipment during the forecast period.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period due to the growing demand of potable water in this region.
Water contamination is a serious issue in the Asia Pacific region due to increased environmental deterioration, high soil erosion, occasional floods, and increases in pollution levels in China, India, and Japan. The availability of clean water is therefore declining, thus driving the demand for water treatment in these countries. In addition, an increase in manufacturing activities combined with the region’s emergence as a cost-effective production hub is also expected to be a driver for growth.
The easy availability of raw materials has also attracted several global companies and investors to set up their production facilities in the region. Veolia (France), SUEZ (France), Xylem (US), Dow Water & Process Solutions (US), Evoqua Water Technologies (US), Aquatech International (US), Ecolab (US), 3M (US), and Pentair (US) are just some of the key players operating in market.