Groundwater Management Market Outlook 2034: Projected Growth from USD 40.4 Billion in 2023 to USD 77.3 Billion by 2034 at a 5.9% CAGR

The global groundwater management market was valued at US$ 40.4 billion in 2023. It is projected to grow at a CAGR of 5.9% from 2024 to 2034, reaching US$ 77.3 billion by the end of 2034. The market's growth is driven by increasing global population, groundwater depletion, and advancements in water management technologies.

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Analyst Viewpoint

The growing global population is significantly influencing the dynamics of the groundwater management market. Both developed and developing countries are experiencing population growth, which boosts the demand for clean water for domestic and industrial processes. Groundwater depletion, primarily due to irrigation, is another major driver of market expansion. Aquifer preservation is essential to addressing water security in affected regions.

Key players in the market are focusing on advanced analytics for sustainable water management, expanding their expertise in geotechnics and commercial resource management.

Market Introduction

What is Groundwater Management?

Groundwater management involves using various technologies and tools to ensure a sufficient amount and quality of water for human health, livelihoods, and productivity. Groundwater is crucial for drinking water, irrigation, and industrial purposes, but it is vulnerable to quality and quantity deterioration from both natural and industrial activities. Sustainable groundwater management practices aim to preserve this critical resource for long-term use.

Key Benefits

Water Security: Ensures the availability of clean water for various uses.
Environmental Protection: Prevents deterioration of groundwater quality and quantity.
Sustainability: Promotes long-term viability of groundwater resources.

Key Market Drivers

Surge in Global Population

The growing global population increases the demand for groundwater. As the primary source of water for drinking and irrigation, groundwater resources are under significant pressure due to rapid population growth and industrialization. By 2030, the world population is expected to reach 8.5 billion, with further increases projected through 2100. This surge in population necessitates efficient groundwater management to meet the rising water demand.

Depletion of Groundwater

Regions such as Northern China, Iran, and the western U.S. are experiencing significant groundwater depletion. Groundwater levels have declined substantially in many parts of the world over the past four decades. This depletion necessitates effective groundwater management and conservation practices. Governments are funding water conservation projects to increase water availability, which boosts the groundwater management market.

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Regional Outlook

Leading Region: Asia Pacific

Asia Pacific held the largest market share in 2023. Groundwater pumping has led to land subsidence and increased risks of sea level rise in many cities, prompting stringent regulations on groundwater preservation. For example, China implemented a state council decree in 2021 to regulate groundwater management. The adoption of IoT in groundwater management, such as Waterlab Solutions' Bhujal App and IoT devices in India, is also driving market growth in the region.

North America

In North America, government initiatives and technological advancements are enhancing groundwater management practices. For instance, the U.S. Department of the Interior announced US$ 51 million for environmental water resource projects in 2023, focusing on water conservation and management.

Analysis of Key Players

Key players in the global groundwater management market include SLB, SUEZ Group, Xylem, Grundfos Holding A/S, AECOM, Baker Hughes Company, Ecolab, Veolia Group, Tetra Tech, Inc., and Aquatech. These companies are developing advanced water technologies with improved energy efficiency and energy savings.

Recent Developments

Grundfos: Presented its portfolio at the NGWA 2023 Groundwater Week Conference, including a new SP 6-inch hydraulic pump and cloud-based water infrastructure monitoring solutions.
Tetra Tech Inc.: Acquired Piteau Associates in 2022, enhancing its water management capabilities.

Market Segmentation

By Technique

Aquifer Recharge
Well Management & Maintenance
Groundwater Monitoring
Remediation Technologies
Others

By Deployment Model

Pumping Systems
Filtration & Treatment Technologies
Monitoring & Data Analysis Software
Remote Sensing & GIS Solutions

By End-use

Agriculture
Municipal
Industrial
Residential

Regions Covered

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Countries Covered

U.S.
Canada
Germany
U.K.
France
Italy
Russia & CIS
Japan
China
India
ASEAN
Brazil
Mexico
South Africa
GCC

Conclusion

The groundwater management market is poised for substantial growth, driven by the need for sustainable water management practices in response to rising global population and groundwater depletion. Key regions like Asia Pacific and North America are leading the market due to stringent regulations and technological advancements. Major players are innovating to meet the growing demand for clean water, ensuring the market's continued expansion through 2034.

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