According to the new market research report “Wastewater Treatment Services Market by Type (Design & Engineering Consulting, Building & Installation, Operation & Process Control, Maintenance & Repair), End User (Municipal, Industrial), and Region – Global Forecast to 2024″, The wastewater treatment services market size is projected to reach USD 65.1 billion by 2024, at a CAGR of 6.1% from USD 48.5 billion in 2019.
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Operation & process control services estimated to lead the wastewater treatment services market, in terms of value, in 2019. This dominance is mainly due to demand from industries and municipal corporations for facility operation, routine maintenance, parameters monitoring, statistical process control, and report generation. The growth is expected to be the highest in the market in APAC due to the high demand from end-use industries.
The power generation is estimated to be the largest end-user industry of wastewater treatment services during the forecast period. In an attempt to meet the set targets of carbon emission, many countries have started investing heavily in renewable energy sources, such as wind and solar energy. The demand for wastewater treatment services in power generation is driven primarily by the APAC market. APAC accounts for over 40% of the global power demand. Over 70% of power generation is carried out by the steam turbines technology. As the demand for power in countries including India, Indonesia, and Vietnam is projected to increase, the wastewater treatment services market will witness substantial growth.
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The wastewater treatment services market size is projected to reach USD 65.1 billion by 2024 from USD 48.5 billion in 2019, at a CAGR of 6.1% between 2019 and 2024. Rising demand from municipal and industrial wastewater treatment is expected to support the wastewater treatment services market. Under the industrial segment, various end-use industries, namely chemical & pharmaceutical, oil & gas, food, paper & pulp, metal & mining, and power generation, are considered.
On the other hand, strict norms and Zero Liquid Discharge (ZLD) wastewater management strategy has created opportunities for manufacturers. Veolia (France), SUEZ (France), Xylem (US), Ecolab (India), and Evoqua Water Technologies (US) are the major players in this market.
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Veolia (France) is one of the leading services providers of wastewater treatment for both municipal as well as industrial segment. The company is actively focusing on contracts and agreements for increasing their business existence and revenue generation.
Xylem (US) is one of the leading companies in water technology which engages in the manufacturing and service of engineered solutions for water and wastewater applications. The company invests vigorously in mergers and acquisitions to expand its portfolio and regional presences across the globe. The company aims to expand its presence in the APAC region by targeting the market where the demand for wastewater treatment services is high.
SUEZ (France) is also a chief creator various wastewater treatment services such as sampling and production of drinking water, multi-disciplinary studies and engineering, customer relationship management, industrial water treatment, water storage and distribution, desalination, wastewater treatment and reuse, and sludge treatment and recovery. For instance, in April 2019, SUEZ announced that it would continue to develop its activity in Italy with a new contract to renovate and operate the Naples-North (Napoli Nord) wastewater treatment plant.
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