Wastewater Treatment Services Market is set to project a healthy CAGR of 6.21% with growing environmental regulations and initiatives of Zero Liquid Discharge (ZLD) as key upcoming market drivers during the forecast period, finds OG Analysis. As the global demand for energy and water soars, the wastewater treatment services market growth is long run driven by need for optimized wastewater management processes which could tackle socio-economic challenges ranging from food production to renewable energy.
Accordingly, wastewater treatment services companies are investing to focus on reducing waste and deliver a sustainable water system for the future. Wastewater treatment plants are being enhanced with efficient types of equipment. For example, in 2019, Clover wastewater treatments are scheduled to get boost with emergency generators.
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Factors such as rising urbanization and increasing population particularly in developing countries create immense opportunities for market growth over the forecast period.
Emergence of key Wastewater treatment services market end-users including municipal and industrial drives market growth through 2026. Accordingly, growing industrial waste, stringent protocols in line with environmental concerns, for example, control on release of contaminated water into water resources and expanding manufacturing sectors are key factors driving market demand.
Furthermore, ongoing up-gradation of traditional systems with innovative wastewater treatment technologies will propel the global wastewater treatment services market growth in upcoming years. In 2019, officials declared North Bend wastewater treatment plant is under an upgrading plan to improve its wastewater treatment efficiency in the long run.
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In addition, strategic initiatives and developments are witnessed in the market which is set to augment the overall market share. For instance, in 2019, Atonix Digital introduced a new wastewater treatment solution. In July 2019, the Municipality of Dubai, the UAE has launched a new plant to treat industrial wastewater.
Conversely, lack of required techno commercial awareness and high costs associated with wastewater treatment technologies are amidst key wastewater treatment services market challenges.
Asia Pacific is projected to account for the major market share during the forecast period, preceded by Americas and U.K
Wastewater treatment services market growth across Asia Pacific is driven by rising municipal wastage, water scarcity along with stringent norms for industrial wastewater in the region.
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Accordingly, government authorities are launching programs to clean up water resources and are investing to optimize wastewater treatment services. For instance, in India, Ganges Clean-Up program aims to improve the quality of water in the river by stopping untreated wastewater discharge from cities. The launch of such programs in support of key wastewater treatment services market players opens huge market growth opportunities in the medium to long run. For example, in 2019, SUEZ won the contract to manage the entire sewer network and wastewater treatment plants across river Ganges, India.
Whereas, across Americas, the surging demand for water which is expected to increase by 40% by 2030 along with the active presence of wastewater treatment services providers drives the market growth. Accordingly, key wastewater treatment services provider, Maryland environmental service has implemented upgrades at the Freedom district wastewater treatment plant in Sykesville, the U.S to effectively filter out pollutants.
In addition, emergence of key market end-users shapes the wastewater treatment services market size during estimated period. For instance, housing developers across Americas are willing to invest intensely to fund wastewater treatment services.
Furthermore, U.K targets’ to minimizing wastewater and improve the UK water quality through 2018, launched 25 Year Environment Plan drives the wastewater treatment services market growth.
Acquisitions, service contracts and strategic agreements are observed across key market players during the forecast period
The market growth is characterized by key providers of water and energy solutions acquiring water treatment technology and services companies to expand their Wastewater Treatment technology portfolio and service capabilities. For instance, in 2019, Kemco Systems, acquired Bob Johnson & Associates to supplements Kemco’s water treatment services capabilities to the industrial markets while extending a strong wastewater technology portfolio.
Key players are entering into wastewater treatment service contracts and have open potential market growth opportunities. For instance, in 2019, American Water announced that it received contracts for ownership, operation, and maintenance of the water and wastewater systems in the United States Military Academy and Joint Base San Antonio (JBSA).
Major market players are entering into partnerships to extend wastewater treatment services For instance, in 2019, Heritage Partners with Timmy Global Health on a water purification project to access wastewater treatment services and to improve healthcare access to underserved populations.
Further, emerging market players are entering into joint forces to built a state-of-the-art wastewater treatment facility. The Sterling Natural Resource Center (SNRC) being built in the U.S in collaborations with Anaergia Inc. and Fibracast Ltd. is an example of one such market growth strategy.
Key players participating in global wastewater treatment service market growth include Aries Chemical, Ecolab, Evoqua Water Technologies, Golder Associates, SUEZ, SWA Water Holdings, Thermax Group, Veolia, Xylem, and W.O.G. Group
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