Pune, India, June 04, 2021 (GLOBE NEWSWIRE) -- The global water and wastewater treatment market size is expected to gain momentum by reaching USD 465.23 billion by 2028 while exhibiting a CAGR of 7.3% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled "Water and Wastewater Treatment Market, 2021-2028." The report further observes that the market stood at USD 263.07 billion in 2020. The increasing focus on adopting novel treatment techniques while complying with stringent regulations is expected to boost the demand for the product globally.
The COVID-19 pandemic has had a seismic effect on several economies across the globe. To curb the pandemic spread, the governments of several countries have ordered complete lockdown of industrial and human activities. This is expected to have a significant impact on the market in 2020. However, proactive steps by the industry leaders to revive the automotive industry will bode well for the growth of the market in the near future.
Market Segmentation:
Based on segment, the market is trifurcated into chemicals, equipment, and services.
On the basis of segment, the chemicals segment is expected to hold a significant global Water and wastewater treatment market share during the forecast period. This is due to the high demand for chemicals to remove harmful substances such as hydrogen peroxide and other contaminants from wastewater.
Based on application, the market is bifurcated into municipal and industrial. Moreover, on the basis of region, the market is categorized into North America, Asia-Pacific, Europe, the Middle East and Africa, and South America.
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What does the Report Include?
The global market for Water and wastewater treatment report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2021 and 2028.
Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
DRIVING FACTORS
Presence of Stringent Regulations for Effluent Treatment to Spur Demand
Back in 2016, the EPA had publicized the Oil and Gas Extraction Effluent Guidelines and Standards that covered wastewater discharges from drilling, field exploration, production, and well treatment activities, across coastal areas, land, and offshore. Since then, several regulations have been in place to ensure proper treatment and management of wastewater.
For instance, in April 2021, Clark Development Corp., along with Clark Water Corp, announced their plan to upgrade the Clark Freeport Zone sewage treatment facility by complying to the stringent Department of Environment and Natural Resources Administrative Order (DAO) 2016-08 on Biological Nutrient Removal (BNR) standards.
The aim is to improve the efficiency of the facility that treats around 27 million liters of wastewater every day. Therefore, the imposition of stringent regulations to treat effluents will contribute to the global Water and wastewater treatment market growth in the forthcoming years.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/water-and-wastewater-treatment-market-102632
List of the Leading Companies Profiled in the Global Market are:
- Veolia (Aubervilliers, France)
- Acciona (Alcobendas, Spain)
- Pt. Amrita Enviro Energi (Banten, Indonesia)
- Hydro International (Clevedon, United Kingdom)
- Orenco Systems (Oregon, The U.S.)
- ASIO, spol. s r.o. (Brno, Czech Republic)
- Aquatech International LLC (Maharashtra, India)
- Trojan Technologies (London, UK)
- BioMicrobics Inc. (Kansas, UK)
- Kurita Water Industries Ltd. (Kanto Region, Japan)
- Calgon Carbon Corporation (Pennsylvania, United States)
- Kemira (Helsinki, Finland)
- SUEZ worldwide (Paris, France)
- Xylem (New York, U.S.)
- DuPont (Delaware, United States)
- Evoqua Water Technologies LLC (Pennsylvania, United States)
- 3M (Minnesota, United States)
- Pentair plc (Minnesota, United States)
- Ecolab (Minnesota, United States)
- United Utilities Group PLC (Warrington, United Kingdom)
- American Water (New Jersey, United States)
- Other Key Players
REGIONAL INSIGHTS
North America – The region stood at USD 102.79 billion in 2020 and is expected to hold the highest position in the market in the forthcoming years. This is owing to the increasing demand for power generation that has led to the high adoption of demineralized water for industrial purposes in the region.
Europe – The market in the region is expected to showcase considerable growth backed by the growing renovation activities carried out at existing Water and wastewater treatment plants between 2021 and 2028.
Asia-Pacific- The region is anticipated to experience significant growth in the forthcoming years. This is ascribable to factors such as the surging adoption of activated sludge process-based effluent treatment solutions in countries such as China and India that will boost the adoption of advanced Water and wastewater treatment solutions in the region between 2021 and 2028.
COMPETITIVE LANDSCAPE
Facility Expansion by Prominent Companies to Amplify Their Market Positions
The market is experiencing fierce competition amongst the players operating in it. These players are focusing on proactive strategies such as facility expansion to ensure a wider horizon to market their advanced Water treatment solutions in the forthcoming years. Besides, other key players are focusing on collaborations and partnerships to maintain their presence that will favor the growth of the market in the forthcoming years.
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Industry Development:
January 2020: Xylem announced the launch of a multi-dimensional center based in Singapore to develop advanced wastewater, water, and energy technologies. The company aims to consolidate its position by introducing innovative treatment solutions through its state-of-the-art RD capability.
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