Wastewater Treatment Services Market – Notable Developments and Geographical Outlook by 2027
Large amount of wastewater is produced from households and industries that can be successfully treated for reuse and also for discharging it into the environment. Many regions in the world are going through water crisis. Wastewater treatment services can provide significant solutions to handle this situation. Rapid urbanization brought by industrialization and unprecedented population rise are inducing high demand for clean drinking water along with increasing the amount of wastewater produced on daily basis. The water treatment process involves crucial operations such as settling treatment, chemical treatment, filtration, evaporation, and others. Depending on the requirements and challenges of end-use, the type of service varies along with varying industries.
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Wastewater Treatment Services Market- Notable Developments
Some of the notable developments in the global wastewater treatment services market are given below:
In October 2019, Suez, one of the leading players in the global wastewater treatment services market, announced that the company has signed a contract with the City of Montreal for the building, operating, and maintaining an organic waste treatment center. The overall value of the contract is over 115 million Euros. Suez has secured a long term contract which include the two year time for the construction of the plant followed by a five year period of operation.
In July 2019, Veolia, another prominent name in the global wastewater treatment services market, announced that the company has sold its district energy assets in the United States to the Antin Infrastructure Partners. The deal is worth over 5 billion euros.
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Wastewater Treatment Services Market- Drivers and Restraints
There are multiple factors that are fuelling the growth of the global wastewater treatment services market. Some of the major factors that are driving the market growth are scarcity of fresh drinking water due to increasing water pollution and lack of availability of fresh water resources along with rapid increase in world population. High demand for fresh drinking water and declining water quality are also aiding the growth of the global wastewater treatment services market.
Rapid industrialization and increasing focus of governments in various regions towards implementing stringent regulatory framework on the water discharged from industries are positively impacting on the expansion of the wastewater treatment services market. Another factor responsible for the growth of the wastewater treatment services market is increasing number of sewage treatment plants and wastewater treatment plants in the developed regions.
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Wastewater Treatment Services Market- Geographical Outlook
In terms of geography, there are five major regions that divide the global wastewater treatment services market. These regions are North America, Middle East and Africa, Latin America, Europe and Asia Pacific. Among these, the global wastewater treatment service market is currently dominated by Asia Pacific region. Owing to the rise in issues like water scarcity, municipal wastage and increasing demand for fresh water due to rapid rise in population are inducing high demand for wastewater treatment services in this region. The Asia Pacific region is followed by North America and Europe with respect to market size. Strict regulatory framework imposed by the government on the disposal of wastewater from the industries is also aiding the growth of the wastewater treatment service market in the North America and Europe regions.
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