Global Wastewater Treatment Services Market Overview:
In the last century, industrialization has contributed significantly to the pollution of rivers and lakes, particularly in urban areas. Unattended dumping of chemicals and debris from construction activities has rendered some rivers unfit for consumption. Water extracted from any source must be purified before being consumed to avoid diseases such as cholera and giardiasis. Water treatment systems play an important role in protecting human life against these diseases.
Global Wastewater Treatment Services Market Size:
According to Research Cosmos, The Global Wastewater Treatment Services Market Was Valued 75.22 Billion USD in 2017 and this value projected to reach USD 97.18 Billion by 2022 growing at a significant CAGR of 6.2 % during 2017 to 2022.
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Drivers and Restraints:
The demand for drinking water is increasing exponentially each year, with an increase in population and pollution levels. Rivers and lakes that were traditionally sources of drinking water for people are also affected by alarming levels of pollution. The water treatment units have an affordable price to enhance their reach across various economic layers of consumers. Increasing health awareness in most regions is expected to improve market growth over the forecast period. Safe Drinking Water Act, 1974, established by the United States Environmental Protection Agency sets standards for the quality of drinking water provided. The agency, along with its partners, is implementing numerous financial and technical programs to protect residents from the impending threat of disease. These trends have benefited the US market in the recent past and will continue to do so in the years to come. Dissolved solids removal technologies are expected to grow fastest over the forecast period due to the growing demand for technologies such as reverse osmosis (RO), ion exchange and distillation. The RO membrane system has important applications in desalination systems, RO purification systems and medical devices. Desalination systems are the most important and dynamic applications on the RO membrane market. The desalination system helps remove unwanted minerals and salt from the sea and brackish water. The desalination system produces fresh water suitable for human consumption. Recently, the Asia-Pacific region has surpassed the United States as a world leader in the RO membrane market. India and China, with their rapid industrialization, will see their market share increase, overtaking other countries in the adoption of technology. Decreasing RO costs over the past two decades have made the market more competitive and created growth opportunities in South Korea and Taiwan.
It is estimated that Asia Pacific will lead the global market during the forecast period. Economic performance is expected to pick up in China in the coming years owing to large-scale investments in technology and research. China is undertaking massive changes in the water supply and sanitation scenario in the country to overcome many problems, including the economic disparity between the urban and rural population, and increasing urbanization. However, pollution and scarcity are the main challenges for the nation.
The European market includes major countries such as Russia, Spain, Germany, Italy and the United Kingdom. Europe was the second largest regional market in terms of revenue, with a share of more than 26.0% in 2016. This can be attributed to the high demand for more quality systems from several important end-users, including residential and non-residential applications.
Suez Environment, Veolia Environmental, GE Water, Evoqua Water, and CH2M Hill are the major players of the global wastewater treatment services market.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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