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Wastewater Treatment Equipment Market 2024-2033: Size Analysis and Forecast
Wastewater Treatment Equipment Global Market Report 2024
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According to The Business Research Company's, The wastewater treatment equipment market size has grown steadily in recent years. It will grow from $32.74 billion in 2023 to $34.15 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to growing global population, urbanization and industrialization, water scarcity concerns, stringent environmental regulations.
The wastewater treatment equipment market size is expected to see steady growth in the next few years. It will grow to $41.41 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to public health awareness, aging infrastructure, water quality improvement, climate change impacts, economic growth. Major trends in the forecast period include iot and sensors, sustainable agriculture, ai and machine learning, robotic farming.
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Market Drivers and Trends:
The wastewater treatment equipment market is being driven by a rapidly increasing disposal of wastewater from the industrial as well as residential sectors. The high quantity of wastewater being disposed of is increasing the necessity to treat the water using wastewater treatment equipment. According to a research study published by the European Environment Agency (EEA), the percentage of the residential population disposing of wastewater in northern European countries is always above 80 % out of which more than 70 % received tertiary wastewater treatment. Furthermore, in central European countries, the proportion of the population connected to urban wastewater treatment in southern, south-eastern, and eastern Europe is 97% out of which 75% are receiving tertiary wastewater treatment. According to the international water association (IWA)'s wastewater report, the Philippines accounted for about a million cubic meters of wastewater disposed of every year by industrial sectors in Manila Bay and Laguna Lake. These factors are driving the wastewater treatment equipment market growth.
The increasing use of Internet of Things (IoT) sensors is the latest trend in the wastewater treatment equipment market. The Internet of Things (IoT) is a network of physical devices that communicate over the internet. The environmental sensors measure pollution-causing particles in air and water, thereby monitoring air or water quality. It also senses radiations and hazardous chemicals in the environment. A majority of the organizations that function in the water industry depend on the Supervisory Control and Data Acquisition (SCADA) systems to monitor the water distribution systems. The use of IoT in water systems uses smart sensors that detect information about the water quality, temperature changes, pressure changes, and potentially any chemical leaks. For instance, companies in the water treatment industry such as Biz4solutions company, are providing innovative solutions for effective wastewater management and water testing analytics through IoT systematic water management to manage water recycling, reduce the number of water leakages, and efficiently manage wastewater.
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Major Key Players of the Market:
Suez SA, 3M Company, General Electric Company, Culligan International Company, Dow Water & Process Solutions, Pentair plc, Aquatech International LLC, Danaher Corporation, Chembond Chemicals Limited, Calgon Carbon Corporation, Toray Industries Inc., Thermax Limited, Degrémont SA, Hitachi Ltd., Siemens AG, Evoqua Water Technologies Corp., BWT AG, Veolia Environnement SA, Xylem Inc., Doosan Heavy Industries & Construction Co. Ltd., Kurita Water Industries Ltd., Accepta Ltd., Ion Exchange (India) Ltd., Thermo Fisher Scientific Inc., Ashland Global Holdings Inc., Engie SA, Kemira Oyj, Ryan Herco Flow Solutions, Pall Corporation, Ecolab Inc., Ovivo Inc.
Wastewater Treatment Equipment Market 2024 Key Insights:
• The wastewater treatment equipment market size is expected to see steady growth in the next few years. It will grow to $41.41 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
• Increasing Industrial And Residential Wastewater Disposal Driving The Wastewater Treatment Equipment Market
• Implementation Of IOT Sensors And Smart Technology
• Asia-Pacific was the largest region in the wastewater treatment equipment market in 2023
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