Dublin, July 10, 2023 (GLOBE NEWSWIRE) -- The "Wastewater Treatment Services Market by Service Type (Designing and Engineering Consulting, Building and Installation Services), End-User (Municipal and Industrial), Industrial End-user (Chemical & Pharma, Oil & Gas) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The wastewater treatment services market is estimated to grow from USD 55.9 billion in 2022 to USD 80.4 billion by 2028, at a CAGR of 6.3%.
With such stringency maintained at the international level, it is evident that the nations have laid down strict regulations to curb global warming and protect biodiversity. Thus, the improper discharge of wastewater effluents is dealt with the utmost strictness, which can render factories non-compliant.
At the national level, a more accurate observation is the Environmental Performance Index (EPI) of nations. The EPI reflects how nations are managing the treatment of wastewater not only in the domestic and commercial sectors but also in the industrial sector. Through these regulations, nations improve their EPI, thus curbing their carbon footprint globally.
Wastewater treatment services are provided for the treatment of wastewater in municipal and industrial sectors. These services can be broadly segmented into design & engineering, building & installation, operation & control, maintenance & repair, and others. The cost of the services is determined by the type of service, regional availability of freshwater, the complexity of the treatment, the contamination level of the wastewater, and many other factors.
Building & Installation Service is expected to be the second fastest-growing type of the wastewater treatment services market, in terms of value, during the forecast period.
After planning & design, the actual construction and installation of wastewater treatment equipment is a crucial step in the wastewater treatment process. Highly skilled and experienced professionals are needed for the proper installation and building of the wastewater treatment plant.
Therefore, such services are provided by a highly dedicated team of professionals experienced in this industry. These services include the construction of various structures for the installation of wastewater treatment equipment and modifications of existing plants. The cost of services differs for different projects, depending on the capacity of the plant or equipment to be installed, country or regional labor costs, and other costs.
Municipal accounted for the largest share of the wastewater treatment services market, in terms of value, in 2022.
The municipal segment accounted for the larger share of 57.4% of the global wastewater treatment services market in 2020, in terms of value. The larger share can be attributed to the growing use of wastewater treatment services by various municipal organizations owing to the increase in population and the increase in the quantity of wastewater generated.
Treating the wastewater to a water quality, where the water can be reused, increases the potential of cost recovery in the Asia Pacific, which will require new approaches for wastewater collection and management. It is expected to drive the wastewater treatment services market.
Asia Pacific is projected to be the fastest growing region, in terms of value, during the forecast period in the Wastewater treatment services market.
Asia Pacific is the largest wastewater treatment services market, accounting for the largest share of the market in 2022. Rapid industrialization, growing demand from various end-use industries, and increasing government spending are supporting the growth. Water contamination is a serious issue in the Asia Pacific region causing increased environmental deterioration, high soil erosion, occasional floods, and an increase in the pollution levels in China, India, and Japan.
The availability of clean water is declining, thus driving the demand for wastewater treatment services in these countries. With increasing urbanization and infrastructure expenditure, the wastewater treatment services market in the Asia Pacific is bound to grow significantly, and it will outpace other countries and regions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 246 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $55.9 Billion |
| Forecasted Market Value (USD) by 2028 | $80.4 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Stringent Environmental Regulations
- Initiatives for Zero Liquid Discharge
- Growth of the Global Manufacturing Industry
Restraints
- High Cost of Wastewater Treatment Technologies
Opportunities
- Sustainable Approach Through Reduce-Recycle-Reuse
- Curbing Risk of Environmental Noncompliance
- Adoption of Green Technologies
Challenges
- Lack of Techno-Commercial Awareness
Companies Mentioned
- Aquatech International LLC
- Aries Chemical, Inc.
- Bauminas Quimica
- Buckman
- Canadian Water Technologies, Ltd.
- Cortec Corporation
- Dorf Ketal Chemicals
- Ecolab Inc.
- Feralco Ab
- Geo Specialty Chemicals, Inc.
- Golder Associates
- Hydrite Chemical
- Innospec
- Italmatch Chemicals S.P.A.
- Kurita Water Industries Ltd.
- Pentair
- Solenis
- Suez
- SWA Water Australia
- Terrapure Environmental
- Thermax Limited
- VA Tech Wabag Ltd.
- Veolia
- Wog Technologies
- Xylem
For more information about this report visit https://www.researchandmarkets.com/r/758uwn
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