DUBLIN--(BUSINESS WIRE)--The "Wastewater Treatment Services Market by Type (Design & Engineering Consulting, Building & Installation, Operation & Process Control, Maintenance & Repair), End User (Municipal, Industrial), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Wastewater Treatment Services Market Estimated to Grow from USD 48.5 Billion in 2019 to USD 65.1 Billion by 2024, at a CAGR of 6.1%
Growth in operation & process control service type is expected to drive the wastewater treatment services market.
Growing municipal waste, expanding manufacturing industry, urbanization, and regulatory requirements are the primary drivers of the wastewater treatment services market. Initiatives by manufacturing industries and state bodies for low waste generation and growing awareness about new water treatment technologies are some of the factors which are likely to boost the wastewater treatment services market.
APAC is the most attractive market for wastewater treatment services, owing to the increasing population and industrialization in the region followed by North America and Europe. The growth in wastewater generation and rising complexities in the plant operations are expected to be the driving factors of the faster growth of the operation & process control services.
"Power generation expected to be the fastest-growing segment of the wastewater treatment services market, in terms of value, between 2019 and 2024"
The power generation segment is expected to witness the highest growth in terms of value during the forecast period. Power generation is one of the largest consumers of water, globally. Hence, wastewater treatment is an important topic for this industry to ensure compliance with guidelines set by environmental agencies. The treatment of hazardous contaminants, such as nitrate, selenium, arsenic, and mercury in the wastewater from a flue gas desulfurization system is a challenging task.
The power industry is striving to increase efficiency by increasing the temperature and pressure parameters. The supercritical power plants are challenging the metallurgical limits for temperature and pressure. The water needed in the industry is in boilers, feedwater heaters, superheaters, turbines, condensers, and cooling towers.
The heater tubes and heat exchangers in power plants are highly susceptible to corrosion, as they are always in contact with water, either in its liquid form or as steam. Therefore, advanced wastewater treatment technologies and efficient services are being used in all modern power generation plants to mitigate this challenge.
APAC is accounted for the largest wastewater treatment services market.
APAC is the largest market for wastewater treatment services, followed by North America and Europe. APAC is the fastest-growing wastewater treatment services market. The demand for wastewater treatment services in the region is increasing because of factors such as high population, increasing industrial growth, and rise in stringent environmental norms.
Major drivers of the market in the region are growing concerns regarding water scarcity and increasing reuse and recycling of water. It is also the fastest-growing wastewater treatment services market. The growth of the market in this region is attributed primarily to the presence of substantial industrial infrastructure in China, India, Japan, Indonesia, and other APAC countries. The growing population and increasing disposable income of the population are boosting the municipal wastewater treatment services market.
The key players profiled in the report include as Veolia (France), SUEZ (France), Xylem (U.S.), Ecolab (U.S.), Evoqua Water Technologies (U.S.), Thermax Group (India), WOG Group (U.S.), Golder Associates (Canada), SWA Water Holdings (Australia), and Envirosystems (Canada).
- Increasing Environmental Regulations
- Initiatives of Zero Liquid Discharge (Zld)
- Expanding Global Manufacturing Industry
- Enormously High Cost of Wastewater Treatment Technologies
- Adopting A More Sustainable Approach Through Initiatives of Reduce-Recycle-Reuse
- Proper Environmental Management Will Help Curb Risks of Environmental Noncompliance
- Aging Infrastructure and Outdated Technologies
- Lack of Required Techno-Commercial Awareness
Porter's Five Forces
Policy and Regulations
- Clean Water Act (CWA)
- Safe Drinking Water Act (SDWA)
- The Urban Wastewater Treatment Directive (1991)
- The Drinking Water Directive (1998)
- The Water Framework Directive (2000)
- Environmental Protection Law (EPLl)
- The Water Resources Law
- Water Pollution Prevention & Control Law (WPL)
- Aries Chemical
- Bauminas Quimica
- Buckman Laboratories
- Bwa Water Additives UK
- Evoqua Water Technologies
- Feralco AB
- Golder Associates
- Hydrite Chemical Co.
- Kurita Water Industries
- SWA Water Holdings
- Terrapure Environmental
- Thermax Group
- VA Tech Wabag
- W.O.G Technologies
For more information about this report visit https://www.researchandmarkets.com/r/emikrs