Water & Wastewater Treatment Equipment Market Worth 33.22 Billion USD by 2022
PUNE, India, November 8, 2017 /PRNewswire/ --
The report "Water & Wastewater Treatment Equipment Market by Product Type (Filtration (Granular/Sand Filtration, Adsorption, RO, MF), Disinfection (Chlorine, UV), Desalination, Testing), Application (Municipal, Industrial), and Region - Global Forecast to 2022" published by MarketsandMarkets(TM), the market is projected to grow from USD 24.62 in 2017 to USD 33.22 Billion by 2022, at a CAGR of 6.2% between 2017 and 2022. The growth of this market can be attributed to the increasing demand from municipal and industrial applications across the globe. This market depends on the growth of various water & wastewater treatment technologies, such as disinfection, filtration, desalination, and testing. Globally, there is a rise in demand for safe drinking water owing to the decreasing amount of freshwater resources. Therefore, the increasing use of these technologies in water treatment will boost the Water & Wastewater Treatment Equipment Market during the forecast period.
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Based on product type, the desalination equipment segment is projected to grow at the highest CAGR during the forecast period
The Water & Wastewater Treatment Equipment Market has been segmented on the basis of product type into filtration, disinfection, desalination, and testing. The filtration equipment segment accounted for the largest share of the Water & Wastewater Treatment Equipment Market in 2016, whereas the desalination segment is projected to grow at the highest CAGR during the forecast period. The scarcity of fresh water, increasing wastewater reuse, and need for higher quality process water across various industrial sectors are propelling the demand for water desalination equipment around the globe. Growth in the desalination segment will ultimately drive the Water & Wastewater Treatment Equipment Market.
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The municipal application segment is projected to grow at the highest CAGR between 2017 and 2022
Based on application, the municipal segment accounted for the largest share of the Water & Wastewater Treatment Equipment Market in 2016. Water & wastewater treatment equipment is extensively used in residential and non-residential applications. Municipalities treat water to meet the growing demand for potable water. The sources of water for municipal purposes are lakes, rivers, underground wells, and others. Water from these sources is often polluted and contains a large amount of stain-producing dissolved iron and manganese. To treat these pollutants, the water & wastewater treatment equipment is employed. The type of water treatment depends on the application and the required water purity. Thus, the increased demand from municipalities for treated water coupled with stringent regulations for water treatment is expected to supplement the growth of water & wastewater treatment equipment during the forecast period.
The Asia Pacific Water & Wastewater Treatment Equipment Market is projected to grow at the highest CAGR during the forecast period
Based on region, the Water & Wastewater Treatment Equipment Market has been segmented into Asia Pacific, North America, Western Europe, Central & Eastern Europe, Middle East & Africa, and South America. The Asia Pacific Water & Wastewater Treatment Equipment Market is projected to grow at the highest CAGR during the forecast period due to the growing demand of potable water in this region.
Water contamination is a serious issue in the Asia Pacific region due to increased environmental deterioration, high soil erosion, occasional floods, and increase in pollution levels in China, India, and Japan. The availability of clean water is declining, thus driving the demand for water treatment in these countries. Moreover, increase in manufacturing activities combined with the region's emergence as a cost-effective production hub is expected to drive the Water & Wastewater Treatment Equipment Market. With many water treatment projects planned in the region, Asia Pacific is expected to remain a high growth region in the future. Additionally, the easy availability of raw materials has also attracted several global companies and investors to set up their production facilities in the region, thereby contributing to the growth of the Asia Pacific Water & Wastewater Treatment Equipment Market.
Veolia (France), SUEZ (France), Xylem (US), Dow Water & Process Solutions (US), Evoqua Water Technologies (US), Aquatech International (US), Ecolab (US), 3M (US), and Pentair (US) are some of the key players operating in the Water & Wastewater Treatment Equipment Market.
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