According to the new market research report, “Wastewater Treatment Services Market by Service Type (Designing & Engineering Consulting, Building & Installation Services), End-User (Municipal and Industrial), Industrial End-User (Chemical & Pharma, Oil & Gas) and Region – Global Forecast to 2026″, MarketsandMarkets: The wastewater treatment services market is projected to reach USD 71.6 billion by 2026, at a CAGR of 6.2 % from USD 53.0 billion in 2021. Growing population, expanding manufacturing industry, urbanization, and regulatory requirements are the major drivers of the wastewater treatment services market. Initiatives by manufacturing industries and state bodies for low waste generation and growing awareness about new water treatment technologies are some of the factors which are likely to boost the wastewater treatment services market.
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The treatment process which is used to remove the impurities and toxins from sewage or industrial water is referred to as wastewater treatment. The treated water can be safely discharged back into the environment. Wastewater is full of contaminants, which include bacteria, chemicals, and other toxins which are harmful for both humans as well as environment. Its treatment aims at reducing the contaminants to acceptable levels to make the water safe for discharge back into the environment.
Municipal is the largest end-user of the wastewater treatment services market. North America was the largest market for wastewater treatment services in 2020, in terms of value. Growing population, expanding manufacturing industry, urbanization, and regulatory requirements are the major drivers of the wastewater treatment services market. Initiatives by manufacturing industries and state bodies for low waste generation and growing awareness about new water treatment technologies are some of the factors which are likely to boost the wastewater treatment services market
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The wastewater treatment services market is projected to reach USD 71.6 billion by 2026, at a CAGR of 6.2% from USD 53.0 billion in 2021.
Growing population, expanding manufacturing industry, urbanization, and regulatory requirements are the major drivers of the wastewater treatment services market. Initiatives by manufacturing industries and state bodies for low waste generation and growing awareness about new water treatment technologies are some of the factors which are likely to boost the wastewater treatment services market. The growing population of the world is fueling the demand for new wastewater treatment plants and services. Industrial growth is boosting the demand for new wastewater treatment projects. Collectively, the growth in demand for new wastewater treatment plants is pushing the demand for building and installation services market, globally. Continuous operation of the wastewater treatment plant is a major concern in both the manufacturing as well as other industries.
The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally The key players operating in the wastewater treatment services market are trying to increase their scope of services to address the increasing demand. Veolia Water Technologies (France), SUEZ (France), Xylem (US), Evoqua Water Technologies (US), Thermax (India), and Ecolab (US) are the leading providers of wastewater treatment services, globally.
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Players in the wastewater treatment services market are mainly concentrating on new product launches, acquisition, and collaboration to meet the growing demand for various end-use industries. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
The growth of the wastewater treatment services market has been largely influenced by new product launches that were undertaken between 2016 and 2020. Companies such as Xylem Inc and Suez Group have adopted new product launches to enhance their market position.
Veolia Group designs and manages water services, wastewater treatment, and recovery services for local authorities and industrial customers. The company operates through three business segments, namely, water, waste, and energy. Veolia Water business segment provides the complete range of services required to design, build, maintain, and upgrade water and wastewater treatment facilities and systems for industrial customers and public authorities. It offers a wide range of solutions for the collection and transport of drinking water and wastewater, which includes operating and maintaining water and wastewater treatment networks, collecting wastewater, and designing and building water and sanitation networks. The company operates in Europe, the Americas, Asia, Oceania, the Middle East, and other regions. In October 2020, Veolia Group acquires 30% shares of Suez’s capital from Engie to enhance its water business segment in France.
Ecolab provides water, hygiene, and energy technologies and services across the globe. The company operates through four segments, namely, global industrial, global institutional & specialty, and global healthcare & life sciences and others. Ecolab provides wastewater treatment services through its global industrial business segment. The water unit under the global industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, chemical, primary metals, power generation, pulp and paper, mining, and commercial laundry industries.
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