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Wastewater Treatment Service Global Market Report 2024 Market Report 2024 | Share, Trends, Demand, Overview By 2033
Wastewater Treatment Service Global Market Report
According to The Business Research Company's, The wastewater treatment service market size has grown strongly in recent years. It will grow from $64.55 billion in 2023 to $68.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to stringent environmental regulations, urbanization and industrialization, increasing water scarcity, public awareness and corporate responsibility, economic development.
The wastewater treatment service market size is expected to see strong growth in the next few years. It will grow to $84.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to continued regulatory pressures, water reuse initiatives, increased emphasis on circular economy, growing corporate sustainability goals, population growth and urbanization trends. Major trends in the forecast period include technological advancements, rapid technological innovations, circular economy practices, decentralized wastewater treatment, energy efficiency and sustainability, public-private partnerships (ppps).
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Market Drivers and Trends:
The increasing environmental regulation is expected to propel the growth of the wastewater treatment service market going forward. Environmental regulations include any legislation, rule, regulation, or permission relevant to the environment, human well-being, or safety that is currently in effect or will be implemented in the future. Environmental regulation mandates wastewater treatment to safeguard public health and the environment. For instance, in October 2022, the European Commission revised Directive 98/15/EC which aims to reduce pollution, energy use, and greenhouse gas emissions and improve water quality by addressing urban wastewater pollution and requiring EU countries to monitor pathogens in wastewater. Therefore, increased environmental regulation is driving the growth of the wastewater treatment service market.
Product innovation is a key trend gaining popularity in the wastewater treatment service market. Major companies operating in the wastewater treatment service market are adopting new technologies to sustain their position in the market. For instance, in February 2022, ABB Ltd., a Switzerland-based company that provides electrification and automation technology, launched the ABB AbilityTM Smart Solution for Wastewater. The ABB AbilityTM Smart Solution for Wastewater is the first in a series of digital solutions designed to optimize water sector operations and minimize energy usage. It consists of continuous monitoring, combined with automation that enables new wastewater technology to achieve energy savings of up to 25% during aeration and pumping, as well as a 10% decrease in chemical usage.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Buckman Laboratories International Inc.; Innospec Inc.; Enviro Systems Inc.; Veolia Water Technologies; Suez SA; Xylem Inc.; Evoqua Water Technologies LLC; Thermax Limited; Wog Group; Ecolab Inc.; Feralco AB; SWA Water Australia; Cortec Corporation; Golder Associates Inc.; Aquatech International LLC; Danaher Corporation; Dow Water & Process Solutions; DuPont de Nemours Inc.; Ebara Corporation; EcoWater Systems LLC; EnviroChemie GmbH; GE Water & Process Technologies; Kurita Water Industries Ltd.; Lenntech B.V.; Nalco Water LLC; Orenco Systems Inc.; Pall Corporation; Parkson Corporation; RWL Water LLc
Wastewater Treatment Service Market 2024 Key Insights:
• The wastewater treatment service market will grow to $84.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
• Regulatory Imperatives Fueling Expansion In The Wastewater Treatment Service Market
• Transformative Technologies Reshaping Wastewater Treatment Services
• North America was the largest region in the wastewater treatment service market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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