Insights on the Water Treatment Global Market to 2028
The global water treatment market valued at US$303.55 billion in 2022 is forecast to grow to US$460.68 billion by 2028.
The future supply of clean water for human consumption, and industrial use, holds significant challenges. Ensuring adequate clean water supplies for ever growing populations would likely require increased investment in water treatment services, both to ensure that water quality meets ever tightening standards, and to support increased rates of reuse.
Water treatment is a process of improving water quality and transforming it into an effluent that can be reused for specific ends or safely returned to the nature with a minimized negative impact on the environment.
Water treatment process is mainly associated with removal of contaminants and undesirable components, or reducing the concentration of harmful chemicals to improve water quality for the desired end-use.
In the forecast period, factors such as lack of fresh water resources, rapidly developing emerging economies, rising concerns associated with environment degradation, increasing investment by companies in advanced wastewater treatment technology and growing emphasis on water quality and public health are expected to drive the overall market growth.
The market is anticipated to grow at a CAGR of approx. 7% during the forecast period of 2023-2028.
By application the market into two segments based on application: municipal and industrial. Municipal water treatment market holds the largest share of global water treatment market owing to increasing population growth, rapid urbanization, lack of freshwater resources, rising water demand in agricultural sector and increasing use of municipal water for amusement activities such as swimming pools and amusement parks. Also, municipal water companies are increasingly prioritising actions to address water quality and scarcity issues. For example: Veolia committed to diagnose water resources and develop solutions to optimize water management by 2023.
By product and services the market is divided into three segments based on product and services: equipment, services and chemicals. Services water treatment market is both the largest and the fastest growing segment of global water treatment market owing to increasing manufacturing activities, rapid urbanization, increasing company focus on building technologically advanced water treatment facilities and growing need for maintenance of existing sewage treatment plants.
By equipment type, the water treatment equipment market into divided into five segments: membrane separation, biological, sludge, disinfection and others. Membrane separation water treatment equipment market is the largest and fastest growing segment owing to rising adoption of membrane separation technology in dairy processing & beverages industry, increased population growth, rising environmental restrictions on untreated wastewater discharge by industries, accelerated depletion of ground & surface water resources and increasing implementation of the reverse osmosis (RO) pre-filtration process in various end user industries.
By region, it provides insight into the water treatment market based on the regions namely North America, Europe, Asia Pacific and rest of the world. The global water treatment market is well diversified globally, with significant markets in all regions. Market trends do, however, differ significantly by region. Asia Pacific water treatment market in the largest & fastest growing region of global water treatment market owing to increasing urban population, rising demand for municipal wastewater treatment facilities, rapidly growing manufacturing sector, rapid industrialization and rising government regulations for wastewater treatment. In Europe and North America, there is an established base of water processing infrastructure which was designed and installed in some cases many decades ago, which requires investment to meet modern water processing standards.
Asia Pacific water treatment market is divided into five regions on the basis of geographical operations, namely, China, Japan, India, South Korea and Rest of Asia Pacific, where China water treatment market held the largest share in Asia Pacific water treatment market owing to rapid industrialization, low freshwater availability and increasing number of stringent wastewater regulations to combat the rising pollution levels.