Wastewater treatment technologies market expected to reach $55B by 2023

Aug. 30, 2019

According to Trends Market Research, the wastewater treatment equipment market will have a CAGR of more than 6% from 2016 to 2023.

According to a report by Trends Market Research, the wastewater treatment equipment market size was worth over $35 billion in 2015, and is expected to reach more than $55 billion by 2023, growing at a compound annual growth rate (CAGR) of more than 6% from 2016 to 2023.

The increasing need for mechanization and food safety have led to the excessive use of the available freshwater resources in the past century. This has created an ecological imbalance, as the wastewater produced from agriculture, industrial processes and sewage was discarded into freshwater resources.

Stringent government regulations over industrial and municipal wastewater disposal drive growth of water treatment technology market in the recycle and reuse procedures.

The water treatment technology market is segmented on the basis of pumping systems, chemical, membrane systems and geography. The pumping systems segment divided into pumps, valves and controls and automation systems. In 2015, the valves and controls segment held the largest market share and is expected to maintain this trend during the forecast period. The U.S. dominates the market due to public awareness about clean water, high GDP, purchasing power parity and availability of optimum resources. China is the second largest market and is expected to be the fastest growing market in the forecast period

As of 2015, there were over 17,000 desalination plants globally. Increasing energy-efficient processes is likely to create opportunities for hybrid and solar desalination. Filtration equipment used for municipal and industrial applications are available in a wide range.

Industrial processes that use water always need specific grades, which are determined by measuring parameters such as conductivity, pH, dissolved oxygen content, temperature and other dissolved compounds, namely microbial count and ammonia. Regions such as Europe and North America are anticipated to witness high demand for this method due to strict norms pertaining to industrial effluent water discharge into water bodies.

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