A new analysis by Future Market Insights projects the value of the worldwide water treatment industry to be approximately US$ 112 billion by 2030. The main factors predicted to propel the worldwide water treatment market’s growth are the need for potable water, evolving legal requirements, and public awareness of the harmful effects of untreated water.
According to the report, several key drivers are expected to fuel the growth of the global water treatment market during the forecast period. The notable driving forces include, growing awareness of the hazardous effects of impure water consumption, steady surge in demand for fresh water, adoption of water treatment systems, and demand for quality water from the domestic and industrial sector.
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In addition, existing players pushing for product innovation, collabortions with EPC companies and local municipalities, development of patented technologies and high capacity treatment systems are likely to gain a competitive edge in the current industry landscape.
East Asia Emerges as a Promising Region for Market Growth
In the current scenario, North America and MEA are expected to dominate the global water treatment market in terms of market share. However, the report suggests that the market in East Asia will witness a commendable growth through the forecast period 2019-2029. Currently, the market value of the water treatment market in East Asia is ~ US$ 10,065.6 million and expected to reach US$ 24,376.9 million by the end of 2029 growing at a CAGR of around 9.2% throughout the forecast period. The growth is projected to be primarily driven by focus on enhancing water quality and striking a balance between the demand and supply ratio.
Furthermore, the economies of East Asian countries such as China, South Korea, and Japan have shown a steady groth in recent years. Macro-economic parameters including rapid urbanization, growing population, and positive investment patterns have boosted investments in the housing and municipality projects in the region. Other factors such as lack of quality water treatment infrastructure and growing water scarcity have led to a noteworthy increase in the spending to upgrade water treatment facilities in the region.
Evolving Government Regulations Expected to Shape the Future of Water Treatment
According to the FMI report, in the current scenario, the high demand for chemical-free water is projected to be a key driver of the global water treatment market. Government regulations revolving around water treatment policies are expected to focus on the impact of untreated water on the environment. The evolving government regulations has encouraged market players to focus on the development of eco-friendly water with innovation and adoption of new technologies.
According to the FMI analyst, “The groing demand and focus on chemical-free water has certainly opened up new opportunities for the existing market players. Further, the demand for environment-friendly water will lead to an increase in process water treatment systems in the forecast period.”
In 2019, by application, process water treatment had a high value share of around 47.9% followed by waste water treatment (30.5%). Further, the trend is anticipated to continue throughout the forecast period 2019-2029 driven primarily due to the stringent government regulations.
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Water Treatment System Market Key Segment
By System Type:
Preliminary Treatment
Water Treatment
Membrane Bio-Reactor (MBR)
Reverse Osmosis (RO)
Micro-Filtration (MF)
Nano/Ultra Filtration (NF/UF)
Disinfectants (UV, Ozone)
Sludge treatment
Activated Sludge
ludge Thickening & Dewatering
Sludge Drying
Other Sludge Treatment Technology
By Application:
Process Water/ Water Treatment
Waste Water Treatment
Zero Liquid Discharge
Desalination
By End Use:
Residential Buildings
Commercial Buildings
Municipality
Industrial
Chemical & Petrochemicals
Oil & Gas
Mining & Metals
Food & Beverage
Pharmaceuticals
Thermoelectric Power Plants
Semiconductors
Pulp & Paper
Sugar Mills
Textiles
Leather
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East
Africa
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on accunt of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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Aug 3, 2023
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