| The report “Wastewater Treatment Services Market by Service Type (Designing and Engineering Consulting, Building and Installation Services), End-user (Municipal and Industrial), Industrial End-user (Chemical & Pharma, Oil & Gas) and Region – Global Forecast to 2028″, size was USD 55.9 billion in 2022 and is projected to reach USD 80.4 billion by 2028, at a CAGR of 6.3%, between 2023 and 2028.
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Some of the prominent key players are:
· Veolia Group (France) · Xylem Inc. (US) · Suez SA (France) · Ecolab Inc. (US) · Thermax Limited (India) · Pentair (US) · WOG Technologies (India) · Golder Associates (Canada) · SWA Water Treatment (Australia)
Opportunities: Aging infrastructure and outdated technologies
Old wastewater treatment plants need more maintenance and are sometimes risky as a downtime may occur at any time. Municipalities or industrial wastewater plants maintenance can be given on contract to service providers. Aging infrastructure and outdated technologies need to be upgraded from time to time, and wastewater treatment service providers are finding increasing opportunities in the building & infrastructure, maintenance & repair, and design and consulting services. The growing need for green technologies and infrastructure upgradation is expected to be a key growth driver for the market in the future
Municipal segment to account for larger share in wastewater treatment services market, in 2022.
Residential wastewater is generally treated through the municipal wastewater treatment plant. Wastewater collected and treated at the municipal level is higher than that at the industrial level. Municipal wastewater is less contaminated than industrial wastewater. According to WHO, in least developed countries, 22% of healthcare facilities have no water treatment service, 21% have no sanitation service, and 22% have no waste management service. Half of the world’s population will be living in water-stressed areas by 2025. Contaminated water and improper discharge of domestic wastewater can lead to various health diseases such as cholera, diarrhea, dysentery, hepatitis A, typhoid, and polio.
Asia Pacific is expected to be the fastest-growing region, in the overall wastewater treatment services market, during the forecast period.
The growth in manufacturing, power generation, oil & gas, and food & beverage industries, among others, has greatly influenced the economic development of the countries in the region. Government initiatives, such as Industry 4.0 and Internet Plus, are attracting heavy investments for the manufacturing sector. China is expected to see an 8.5% year-on-year growth in software spending to undergo numerous upgradations in automation and digitalization and accomplish its “Made in China 2025” initiative. |
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