DUBLIN--(BUSINESS WIRE)--The "Industrial Wastewater Treatment Service Market by Service Type (Design, Installation, Operations, Maintenance), Treatment Method (Filtration, Disinfection, Desalination), End User (Power, Oil & Gas, Pulp & Paper), Region - Global Forecast To 2024" report has been added to ResearchAndMarkets.com's offering.
The Global Industrial Wastewater Treatment Service Market is Projected to Reach USD 28.0 Billion by 2024 from an Estimated USD 20.8 Billion in 2019, at a CAGR of 6.1%
This growth can be attributed to factors such as growth in the power generation sector, water-intensive processes in the oil & gas, textile, and pulp & paper industries, and increasing rate of industrialization and urbanization. However, the fact that wastewater treatment is a very costly process and involves a huge amount of capital investment acts as the only major threat to this industry.
The operation & process control segment is expected to be the fastest growing market from 2019 to 2024
The operation & process control segment, by service type, is estimated to be the largest and the fastest growing segment during the forecast period, as this is the main process that generates industrial wastewater. The processes involved in an industry mostly determine the quality and quantity of wastewater generated.
Thus, if the process optimization happens actively and accurately, the requirement for maintenance & repair services of plants and related equipment would be minimized. Thus, the requirement for the maintenance & repair services segment would be comparatively lesser compared to the operation & process control segment during the forecast period.
The filtration segment, by treatment method, is expected to be the largest market from 2019 to 2024
The desalination segment is expected to be the fastest growing segment, and the filtration segment is expected to hold the largest market share during the forecast period. This is because filtration consists of UV filtration, which is a costly process compared to Chlorine and Ozone processes. Chlorine and Ozone processes are fairly cost intensive, which, in turn, increases the cost of filtration.
Filtration plays an important role in the natural treatment of industrial wastewater treatment as it is a basic treatment method. Wastewater, which has been softened or treated through iron and manganese oxidation, requires filtration to remove floc created by coagulation or oxidation processes. Since industrial wastewater is subject to numerous dissolved particles and chemical salts and does not undergo natural filtration, it must be filtered to remove particles and impurities. Such properties of filtration ensure that filtration would be the most effective and cost-intensive treatment process in the coming time.
Asia Pacific: The largest industrial wastewater treatment service market
The Asia Pacific region is projected to be the largest industrial wastewater treatment service market by 2024. Countries such as China, India, Japan, and South Korea are among the major countries that are considered as the main industrial center points generating a large amount of industrial wastewater. Over the past few years, this region has witnessed rapid economic development.
Also, the growth of the power generation sector in this region results in an increase in the wastewater generated, which, in turn, results in an increase in the industrial wastewater treatment service market. The pulp & paper industry in countries such as China, South Korea, Japan, and India is growing at a humongous rate, thereby driving the industrial wastewater treatment service market.
- Increasing Environmental Regulations
- Initiatives of Zero Liquid Discharge
- Expanding Global Manufacturing Industry
- Enormously High Cost of Wastewater Treatment Technologies
- Rising Population and Rapid Urbanization in the Emerging Economies
- Adopting A More Sustainable Approach Through Initiatives of Reduce-Recycle-Reuse
- Proper Environmental Management Will Help Curb Risks of Environmental Non-compliance
- Lack of Required Techno-Commercial Awareness
- Aries Chemical
- Evoqua Water Technologies
- Golder Associates
- SWA Water Holdings
- Terrapure Environmental
- Thermax Group
- WOG Group
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