Potential growth of water and wastewater treatment market by 2027
Water and wastewater treatment market will be worth USD 472.53 Billion by 2027 according to a latest report titled “Water and Wastewater Treatment Market”
The growth of this market can be attributed to the lack of freshwater resources in different parts of the world. The growing global population is suffering from the scarcity of water, especially the people from Africa and the Middle East, which has increased the adoption of the water and wastewater treatment facilities in the region.
Water and wastewater treatment global market report 2020 is one of a series of new reports from The Business Research Company that provides water and wastewater treatment market overviews, analyzes and forecasts market size and growth for the water and wastewater treatment global market, water and wastewater treatment market share, water and wastewater treatment market segments and geographies, water and wastewater treatment global market players, water and wastewater treatment global market leading competitor revenues, profiles and market shares. The water and wastewater treatment global market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
In June 2020, Siemens collaborated with Acciona in order to create a Digital Twin to improve water treatment plants. The new technology achieved through this collaboration is used to analyze, optimize, and improve productivity, reducing operating times, and finding faults early.
The municipal segment held the largest market share of 57.4% in 2019 as the water, and wastewater treatment facilities are extensively used by the municipal corporations. The scarcity of freshwater in the developing economies has resulted in the increasing usage of water treatment facilities by municipal corporations.
The chemical segment is forecasted to grow with the fastest CAGR of 7.6% over the forecast period. Chemicals such as coagulants & flocculants are widely used by the municipal corporation to remove the suspended solid particles from the wastewater.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period. Rapid urbanizations and industrializations and increasing investments by public and private organizations for technological advancement of water treatment facilities are expected to drive this segment’s growth.
The report includes a detailed segmentation study of the global water and wastewater treatment market, where all of the segments are analyzed in terms of market growth, share, growth rate, and other vital factors. It also provides the attractiveness index of segments so that players can be informed about lucrative revenue pockets of the global water and wastewater treatment market. The extensive evaluation of segments provided in the report will help to direct investments, strategies, and teams to focus on the right areas of the global water and wastewater