The Global "Water & Waste Water Treatment Equipment Market" is expected to grow at a high CAGR of 6.7% during the forecasting period (2022-2029).
Water and waste water treatment equipment is the equipment used to remove suspended particles and other microorganisms that contaminates water by differentiating the chemical, physical, and biological properties of water and its constituents.
Rising water contamination and water pollution due to rapid urbanization and industrialization are the major factors driving the global water & wastewater treatment equipment market
There has been a significant rise in demand for clean water, mainly due to water scarcity and increasing world population. Water treatment consists of chemical and physical separation processes to remove unstable elements and contaminants from water. Increased environmental deterioration, high soil erosion, occasional floods, and an increase in pollution levels mainly in India, China and Japan is making water contamination is a serious issue in the Asia Pacific region. The declining level of clean water due to contamination is mainly driving the demand for water treatment in these countries. In addition, an increase in manufacturing activities is also increasing the demand for water & wastewater treatment equipment. Easy availability of raw materials, favorable government regulations, a cost-effective production hub in the region is attracting several global companies and investors to set up their production facilities in the region, thereby contributing to the growth of the global water & wastewater treatment equipment market.
However, high installation, equipment, and operation costs will restrict the market growth during the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has disrupted the global economy. Consequently, it has also affected the global water & waste water treatment equipment market. Apart from the disruptions in supply-chain management, many waste water treatment units were halted due to the government enforced lockdowns and curfews. Even the funding and conception of projects relating to waste water management were abandoned due to the deteriorating situations in almost all the countries. There was a steep decline in the demand for waste water treatment utilities due to the lockdowns and travel restrictions in almost all the countries. The budget allocation for the municipalities was also cut down significantly due to the heavy losses suffered by the governments during the pandemic. Hence, the waste water treatment equipment market also faced a crunch in revenue generation. But the post-pandemic situation has improved. The market has recovered and is set to grow with a high rate. As waste water treatment is a near universal problem, therefore, many countries are planning to invest in it to improve upon the existing techniques.
By application, the global water & wastewater treatment equipment market is segmented into Industrial and Municipal
The municipal application segment is expected to grow at the highest CAGR. Water & waste water 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, water & wastewater treatment equipment is employed. There are many active researches going on around the world in assisting the municipalities to find a better way of treating waste water. For instance, in 2020, the 30th European Symposium on Computer Aided Process Engineering dealt with the subject of municipal waste water treatment by augmenting the heat balance and improving the plant control by counteracting temperature disturbances. This will boost the growth of the water and waste water treatment equipment market.
By product, the global water & wastewater treatment equipment market is segmented into membrane separation, disinfection, biological, sludge dewatering, and others
Membrane separation held the highest market share in the global water and wastewater treatment equipment market in 2019. Rising awareness regarding the importance of Nanofiltration and reverse osmosis for wastewater treatment applications is expected to play a crucial role in boosting the membrane separation product segment over the forecast period. Biological equipment was the second-highest revenue-generating segment. Stringent regulations aimed at controlling water pollution in manufacturing and municipal levels through the utilization of eco-friendly means in developed markets including the U.S., Canada, Germany, and Japan are expected to upscale the requirement of biological equipment for wastewater treatment.
By geography, the global water & wastewater treatment equipment market is segmented into North America, Asia Pacific, Europe, South America, and the Middle East and Africa
Asia Pacific region is expected to register the highest CAGR during the forecast period. High industrialization growth in the region, especially in India and China, is expected to fuel the demand for water and wastewater treatment equipment in the region. Water pollution is majorly caused due to city sewage and industrial waste discharge. Indirect sources of water pollution include contaminants that enter the water supply from soils or groundwater systems and from the atmosphere via rain. Soils and groundwater contain the residue of human agricultural practices and also improperly disposed of industrial wastes.
Technological advancement coupled with investment in purification plants has boosted the market growth in countries such as India, Japan, South Korea, the US, and the UK. For instance, in 2021, an Indian study found that electrocoagulation waste water treatment technique can reduce costs for low and medium scale enterprises. These innovations are a healthy sign for the market.
The implementation of stringent regulations has propelled the water and wastewater treatment equipment market in the region. The United States Environmental Protection Agency (EPA), European Environment Agency (EEA), Central Pollution Control Board (CPCB), and other government organizations have been playing a key role in improving the quality of water environments and prevention pollution. Stringent government regulations for wastewater emission in municipal and industrial sectors have augmented the demand.
Water & Waste Water Treatment Equipment market is highly competitive and thus manufacturers continuously focus on developing new strategies in order to grab more customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Water & Waste Water Treatment Equipment.
Major players in the market include 3M Purification, Inc., Xylem Inc., Kemira Oyj, DowDuPont, and Evoqua Water Technologies LLC. Other prominent players include Suez SA, Degremont Technologies, Mitsubishi Chemical Corporation, Veolia Environment SA, and Ecolab, Inc.
The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions. In 2018, Ecolab Korea held an opening ceremony for its new Research and Development Centre. Korea’s new centre will focus mainly on Institutional (warewashing, laundry, housekeeping), Food & Beverage (Clean in Place solutions, Conveyor lubricant, Bottle wash), and Nalco Water (Heavy, Light, Paper) businesses. In 2018, SUEZ and Rosneft signed strategic cooperation agreement to improve water and waste programs across Rosneft sites.
3M Purification, Inc.
Overview: 3M Purification, Inc. is an American company which operates in the fields of filtration, separation and purification of water.
Product Portfolio: Its products include fully automatic water softeners, scale prevention system, appliances protection system, chlorine removal system, whole house water filtration system, smart drinking water system and RO drinking water system.
Key Developments: In February 2021, 3M announced that it will invest approximately $1 billion over the next 20 years to accelerate new environmental goals, i.e., achieve carbon neutrality by 2050, reduce water use by 25% at its facilities and return higher quality water to the environment after use in manufacturing operations.
Why Purchase the Report?
What is the Projected CAGR value of the Water & Waste Water Treatment Equipment Market?
Water & Waste Water Treatment Equipment Market is expected to grow at a CAGR of 6.7% during the forecasting period 2022-2029.
Which region controlled the global market during 2022-2029?
North America region Controls the Water & Waste Water Treatment Equipment Markett during 2022-2029.
Which is the fastest growing region in the Water & Waste Water Treatment Equipment Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period.
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