Fort Collins, Colorado, April 20, 2024 (GLOBE NEWSWIRE) --
An increase in global population followed by urbanization propels the need for a water and wastewater treatment market
The global population and rapid urbanization have spurred demand for clean water. According to the United Nations, the world's population is projected to reach 9.7 billion by 2050, with 68% residing in urban areas. This population expansion and the proliferation of industrial activities have significantly strained existing water resources. Consequently, governments and organizations worldwide are making substantial investments in water and wastewater treatment infrastructure to ensure their citizens have access to clean water and mitigate environmental harm caused by untreated industrial discharges.
Stringent regulatory measures imposed by governments worldwide to combat water pollution and mandate proper wastewater treatment are major drivers propelling the growth of the water and wastewater treatment market. In the United States, federal laws such as the Clean Water Act and the Safe Drinking Water Act govern water pollution and drinking water quality standards. Similarly, the European Union has enacted the Water Framework Directive to safeguard and enhance water resource quality. These regulations necessitate the adoption of advanced water and wastewater treatment technologies, stimulating market expansion.
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Segmentation Overview:
The water and wastewater treatment market has been segmented into chemicals, equipment, end-use, and region.
The filtration segment accounts for a significant market share in 2023
- The market segmentation based on equipment includes biological, filtration, sludge treatment, disinfection, and demineralization. Filtration holds a substantial share of the equipment segment of the water and wastewater treatment market. Filtration is crucial as it helps remove suspended solids, particulate matter, and other contaminants from the water.
Municipal end-use is expected to create numerous opportunities for industry developments
- The water and wastewater treatment market is segmented by end-use into municipal and industrial. Municipal applications hold a significant share of the market. This can be attributed to the increasing global population, rapid urbanization, and the growing demand for clean and safe water for domestic consumption.
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Water and Wastewater Treatment Market Report Highlights:
- The water and wastewater treatment market growth is anticipated at a CAGR of 6.7% by 2032.
- The rise in demand for clean water and preventive measures against water contamination drives the industry growth.
- Asia-Pacific is projected to dominate in the forthcoming years, attributed to a rise in urbanization and an increase in population.
- Some prominent players in the water and wastewater treatment market report include Veolia, SUEZ, Xylem, Evoqua Water Technologies, Ecolab, Pentair, Aquatech International, Kurita Water Industries, Alfa Laval, Danaher Corporation, Dow Chemical Company, and others.
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