Growing Industrialization: A Key Driver Transforming the Water And Sewage Market 2024

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The water and sewage market has witnessed substantial growth in recent years. Is there a chance it could grow from $683.29 billion in 2023 to $732.13 billion in 2024 at a compound annual growth rate CAGR of 7.1%? Well, the growth in the historic period can be attributed to the increase in regulations of government for wastewater treatment, rapid urbanization, emerging complexities in wastewater, increased demand for water from the agricultural sector, increased demand for steam and air-conditioning supply, and growth in emerging markets.

So, what's in lies in the near future for the water and sewage market size? It is projected to see strong growth in the next few years, scaling to $962.75 billion in 2028 at a compound annual growth rate CAGR of 7.1%. Various factors are expected to contribute to this surge such as the rising global population, dwindling fresh water resources, rising demand for wastewater treatment, industrial pollutions, growing awareness on cleanliness, and the increase in smart cities. Additionally, trends for the forecast period include investing in the development of technologies, developing or adopting drip irrigation systems, deploying artificial intelligence in wastewater and sewage treatment, implementing IoT-based smart irrigation systems, developing energy-efficient and ecofriendly products, and attracting government investments. But, what does this mean for the industry?

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One of the most significant growth drivers for the water and sewage market is the large amount of untreated wastewater. Wastewater, essentially used water, containing pollutants such as nitrogen and phosphorus from human waste, food, and particular soaps and detergents, presents a challenge yet an opportunity. This water needs to be treated in sewage treatment facilities to reduce the pollutants to a level that nature can tolerate, generating demand for these facilities. Take for instance, the data presented in the "Urban Wastewater Scenario In India" report by the NITI Aayog. The report revealed that wastewater generation in rural areas was approximately 39,604 Million Liters Per Day MLD, whereas in urban areas it was roughly 72,368 MLD in the year 2020-2021. With only 28% of the MLD being treated, it implies that 72% of the wastewater remained untreated, presenting a significant opportunity for sewage treatment facilities. Consequently, the large amount of untreated wastewater is expected to lend momentum to the water and sewage market forward thrust.

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Companies such as Veolia Environment SA, Suez Environnement SA, Engie, Huaneng Power International, Inc, and Companhia de Saneamento Basico-Sabesp among others are leading the way in the water and sewage market. These companies, along with several others, have been harnessing new technologies, developing innovative methods to improve wastewater and sewage treatment, and driving the sector's expansion.

Additionally, conventional wastewater treatment plants are adopting advanced technologies to manage micropollutants, contaminants originating from pharmaceutical residues, household chemicals, personal care products, and pesticides. Technologies like moving bed biofilm reactors MBBR, ozone-based advanced oxidation, adsorption, and powdered activated carbon PAC are removing micro-pollutants from wastewater. Blast through trends and techniques with examples of companies like Suez Group, Arvia, and Novartis using these advanced technologies to handle micro-pollutants.

The water and sewage market can be dissected into multiple segments:
1 By Type: Water Supply and Irrigation Systems, Sewage Treatment Facilities, Steam and Air-Conditioning Supply
2 By Operator: Public, Private
3 By End-User: Residential, Commercial, Industrial, Agriculture

Asia-Pacific took the lead as the largest region in the water and sewage market in 2023. Following closely was North America as the second-largest region in the market. The areas sieved through in the water and sewage market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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