Wearable Technology Market by Product (Smartwatches, Blood Pressure Monitor Watches, Head-mounted Displays, Smart Headgears, Smart Glasses, Smart Jewellery, Body-worn Cameras), Material, End User, and Geography - Global Forecast to 2029
Redding, California, Aug. 24, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Water and Wastewater Treatment Market by Type (Water Treatment, Wastewater Treatment), Offering, Application (Municipal, Industrial), and Geography -Global Forecast to 2032’, the water and wastewater treatment market is expected to reach $956.48 billion by 2032, at a CAGR of 5.4% during 2022–2032.
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The growth of the water and wastewater treatment market is driven by rapid population growth and urbanization, stringent water treatment regulations, the rising need for new water resources, the growing emphasis on water quality and public health, and the increasing prevalence of waterborne diseases.
Furthermore, the growing demand for energy-efficient and advanced water treatment technologies is expected to provide significant growth opportunities for water and wastewater treatment system providers in the coming years. However, the high installation, maintenance, and operational costs are expected to hinder the growth of this market to a notable extent. In addition, the aging and deterioration of existing water infrastructure are the major challenges to the growth of the water and wastewater treatment market.
Rapid Population Growth, Urbanization, and Stringent Water Treatment Regulations
By 2050, more than half of the global population (57%) will live in areas that suffer water scarcity for at least one month each year. The increasing global population, especially the urban population, remains a central factor for industrial expansion. The majority of the world’s population growth in the next 40 years will be absorbed by urban areas, particularly in developing regions. Urbanization leads to increased pressure on water sources as individuals become more concentrated in one area. The rise in per capita water consumption, driven by development, further increases the water demand and strains the local water capacity. By 2050, nearly 6 billion people are expected to lack access to clean water scarcity (Source: United Nations World Water Development Report). This results from the increasing demand for water, reduction of water resources, and increasing pollution of water, driven by dramatic population and economic growth.
Although water withdrawals for domestic and municipal use globally account for a modest part of total water use, they are growing rapidly, especially due to population growth in the urban areas of developing countries. With the rapid growth in the global population and urbanization, the global demand for water supply and sanitation services is also expanding. For instance, according to the World Health Organization (WHO), in 2017, around 74% of the global population, or 5.5 billion people, had used at least basic sanitation services. With the increase in water use and sanitation services, wastewater generation is increasing exponentially.
In 2050, more than two-thirds of the global population will live in cities. Rapid urbanization creates opportunities for economic development but may also increase the use of freshwater resources. This will increase competition for water between cities and agriculture. More urban waste is likely to contaminate water with multiple pollutants such as nutrients and pathogens from human excretion, plastics, and chemicals from personal care products. This is expected to accelerate the demand for water and wastewater technologies in the coming years.
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Additionally, industrial production is also increasing rapidly to serve the growing population. Various industries depend heavily on water for processing, cooling, and disposing of waste products. The demand for water in industrial applications is rising along with rapid industrialization to meet the many requirements of the growing population. With the rising industrialization, the generation of wastewater is increasing rapidly. According to the Indian environment research organization, every liter of wastewater industries discharge pollutes an average of 5-8 liters of fresh water. Many industries worldwide are facing the challenge of water shortage and are increasingly looking for ways to reduce water consumption and reclaim and reuse wastewater. The planned use of treated wastewater can increase resource efficiency and benefit the ecosystem and balanced industrial development.
Regulations regarding the treatment and disposal of wastewater are becoming stringent. In the EU, the main objective of the Urban Waste Water Treatment Directive is to protect the environment from the adverse effects of wastewater discharges. The Water Framework Directive (2000/60/EC) established a framework for protecting rivers, lakes, transitional waters (estuaries), coastal waters, and groundwater. It aims to ensure that all surface water bodies have good chemical and ecological status, displaying minimal signs of impact from human development. Thus, the demand for wastewater treatments has increased due to growing industrialization, population, and urbanization, driving the growth of the global water and wastewater treatment market.
To provide efficient analysis, Meticulous Research® has segmented this market based on type (water treatment, wastewater treatment), offering (treatment technologies [membrane separation & filtration, sludge management technology, activated sludge, clarification], treatment chemicals, process control & automation, design, engineering, & construction services, operation & maintenance services), application (municipal, industrial), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).
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Based on type, the global water and wastewater treatment market is segmented into water treatment and wastewater treatment. In 2022, the wastewater treatment segment is expected to account for the largest share of the water and wastewater treatment market. The large market share of this segment is attributed to growing industrialization & urbanization, the rising focus on water quality from the industrial sector, depletion of freshwater resources, the increasing necessity for recycling and reusing water, and the growing focus on industrial wastewater treatments.
Based on offering, the water and wastewater treatment market is segmented into treatment technologies, treatment chemicals, process control & automation, design, engineering, and construction services, and operation & maintenance services. In 2022, the operation & maintenance services segment is expected to account for the largest share of the water and wastewater treatment market. The large market share of this segment is attributed to the growing complexities of water and wastewater treatment facilities, the increasing need for operational excellence, the rising number of investments in maintenance operations, the increasing adoption of innovative & advanced solutions, stringent regulatory requirements, and the growing focus on achieving cost & energy-saving benefits.
Based on application, the global water and wastewater treatment market is segmented into municipal and industrial. In 2022, the municipal segment is expected to account for the largest share of the water and wastewater treatment market. The large market share of this segment is attributed to the growing focus on improved water quality & public health, the increasing number of water treatment projects, especially in Asian countries, and the aging infrastructure in developed countries.
Based on geography, the market is segmented into five major regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to account for the largest share of the water and wastewater treatment market. The high market growth in Asia-Pacific is driven by the rapid population growth and urbanization, the rising demand for the advanced treatment of residential water, advances in membrane technology, environmental deterioration, limited availability of water resources, and increasing investments in water infrastructure by the public sector organizations.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/water-and-wastewater-treatment-market-5026
China has the world’s largest wastewater sector. The high-speed development of China’s wastewater sector over the past 40 years has forged its global leading treatment capacity and innovation ability. However, many problems persist, including underdeveloped sewers and sludge disposal facilities, low sustainability of the treatment processes, questionable Wastewater Treatment Plant (WWTP) effluent discharge standards, and a lack of global thinking on achieving a sustainable balance between wastewater management, human society, and nature.
According to the Ministry of Housing and Urban-Rural Development of the People’s Republic of China, in 2018, there were 2.45 million villages in China with a total population of 0.58 billion, generating approximately 17.6 million m3 of sewage. However, the treatment capacity per day was only around 494,700 m3, meaning that only 2.8% of wastewater was being treated. To address this situation, the government has introduced policies and programs such as the ‘New Rural Construction’ initiative for sewage treatment projects in villages. Under this policy, the government provides subsidies for the construction of wastewater treatment plants which can effectively improve water quality and the environment in rural areas. China’s growing population, rising volumes of untreated sludge, high wastewater discharge, and increasing water pollution are key factors driving the growth of the country's water and wastewater treatment market. However, the lack of domestic operational expertise is a major challenge to the growth of this market. For instance, around 70% of the constructed wastewater treatment plants in Hainan were operated for 3–5 years and then shut down due to the lack of proper operation and maintenance.
Some of the key players operating in the water and wastewater treatment market are Veolia Environnement S.A, Suez SA (Veolia), Xylem, Inc. (U.S.), DuPont de Nemours, Inc. (U.S.), 3M Company, Inc. (U.S.), Pentair plc (U.K.), United Utilities Group PLC (U.K.), Kingspan Group Plc (U.K.), The Dow Chemical Company (U.S.), Kurita Water Industries Ltd. (Japan), Bio-Microbics, Inc. (U.S.), Calgon Carbon Corporation (U.S.), Trojan Technologies Inc. (Canada), Kemira Oyj (Finland), Thermax Limited (India), Wog Technologies (India), Golder Associates, Inc. (Canada), SWA Water Technologies PTY LTD. (Australia), Burns & McDonnell (U.S.), Adroit Associates Private Limited (India), Sauber Environmental Solutions Pvt. Ltd. (India), SPEC Limited (India), Ecolab, Inc. (U.S.), GFL Environmental Inc. (U.S.), and Clean TeQ Water Limited (Australia).
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Smart Water Management Market by Component, Automation Solution (Water Quality & Quantity Monitoring, Water Treatment & Automation, Pressure Control & Leakage Detection, Analytics & Data Management), User Type, and Region – Global Forecast to 2028
https://www.meticulousresearch.com/product/smart-water-management-market-5198
Industrial Wastewater Treatment Market by Treatment Technology (Membrane Separation, Activated Sludge, Clarification, Membrane Bio-reactor, and Sludge Digestion), and Application (Food & Beverages, Power, Energy, Mining) — Global Forecast to 2028
https://www.meticulousresearch.com/product/industrial-wastewater-treatment-market-5170
Tertiary Water and Wastewater Treatment Technologies Market by Type (Membrane Filtration, UV Radiation, Chlorination, Ozonization, Activated Carbon, and Ion Exchange), and Application (Municipal and Industrial) — Global Forecast to 2027
https://www.meticulousresearch.com/product/tertiary-water-and-wastewater-treatment-market-5185
Contact: Mr. Khushal Bombe Meticulous Market Research Inc. 1267 Willis St, Ste 200 Redding, California, 96001, U.S. USA: +1-646-781-8004 Europe : +44-203-868-8738 APAC: +91 744-7780008 Email- sales@meticulousresearch.com Content Source: https://www.meticulousresearch.com/pressrelease/44/water-and-wastewater-treatment-market-2032
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