Wastewater Treatment Market by Equipment (Membrane Separation, Biological, Disinfection, Sludge Treatment, Others), By Process (Primary, Secondary, Tertiary), By Application (Municipal, Industrial) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Wastewater Treatment market size was estimated at USD 313.1 billion in 2023 and is projected to reach USD 493 billion in 2030 at a CAGR of 13.1% during the forecast period 2023-2030.
Wastewater treatment is an imperative measure required to satisfy the escalating demand for pure water resources. This demand is not restricted to municipal and agricultural purposes but extends to crucial industrial processes as well. Presently, more than 40% of the global population inhabits areas that suffer from severe water scarcity. Due to the fact that only about 1% of the water available on earth is fresh, countries encountering acute water shortage have been compelled to undertake treatment procedures aimed at converting seawater into freshwater through the desalination process.
The growth of the global Wastewater Treatment market is mainly driven by the escalation of competition which has stimulated crucial market players to enhance their water and wastewater treatment service networks. Major global enterprises are engaging in acquisition deals with regional counterparts to attain a formidable competitive advantage. An illustration of this is the announcement made by SUEZ in January 2022 regarding the acquisition of Sentinel Monitoring Systems, an Arizona-based company that specializes in real-time microbial monitoring. The purpose of the acquisition was to expand the range of analytical instruments and capitalize on the existing and potential market prospects for microbial monitoring.
On the other hand, lack of required techno-commercial awareness may hamper the market growth to some extent.
The COVID-19 pandemic has resulted in a deceleration of investments in the water industry with very few exceptions. Despite this, the pandemic has also highlighted the importance of operational reliability as a means of overcoming the costs associated with disruptions. The market has been severely impacted by the decline in demand for water and wastewater treatment utilities from large industrial and commercial users caused by lockdowns and travel restrictions, thereby significantly affecting the revenue margins of companies operating in the sector.
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The market expansion of chemicals used in wastewater treatment is being driven by a significant factor, namely the growing concern about the depletion of freshwater resources. Governments worldwide are taking action to prevent and resolve such issues, and to improve the reusability of wastewater in the process. This is being achieved through the implementation of stringent laws and regulations, as well as through the enhancement of municipal water infrastructure in both urban and rural areas. Consequently, the demand for water and wastewater treatment chemicals is expected to increase during the forecast period, owing to the advancements in industrial and domestic/municipal water treatment. Rapid industrialization is also contributing to the rise in groundwater pollution, particularly in developing countries. As a result, numerous governments are implementing programs to use wastewater effectively, which is predicted to lead to an increase in demand for chemicals used in wastewater treatment. These factors have led to the expansion of the market and increased demand for Wastewater Treatment solutions.
North America to Dominate the Market