Trending News: Wastewater Treatment Services Market Size, Share, Trends, Growth, Analysis, Research
Global Wastewater Treatment Service Market: Key Highlights
- According to the new market research report “Wastewater Treatment Service Market by Service Type (Building & Installation Service, Operation & Process Control, Maintenance & Repair, Design & Engineering Consulting, Additive Welding), by End-User (Municipalities, Industrial), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2019 to 2027)”, the global wastewater treatment service market is estimated to reach USD 67.1 Billion by 2027 at a CAGR of around 5.8% during the review period.
- Poor sanitation and wastewater management are one of the major factors expected to drive the market growth
- Increasing need for reuse of wastewater owing to the rising water scarcity has surged the wastewater treatment service market
- Increasing urbanization and industrialization coupled with increasing population may drive the need for wastewater treatment service
- Use of high end filters is associated with higher cost of wastewater treatment service which is one of the factor restraining the market growth
Global Wastewater Treatment Service Market: Key Market Dynamics
- Government regulation for release of contaminated water in fresh water source is expected to boost the growth of product market
- Benefits offered by zero liquid discharge such as reduced cost, sustainability, and others has encouraged its use in wastewater treatment, thus driving the market growth
- Huge cost incurred for installment of wastewater treatment service is one of the major factor hindering the growth market
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Global Wastewater Treatment Service Market: Regional Overview
- North America
North America is expected to hold major share in wastewater treatment service market during the forecasted period. Growing industrialization and rising awareness regarding various methods of wastewater treatment are some of the drivers expected to drive the growth. Additionally, the stringent regulations imposed by the government for releasing contaminated water to fresh water source will also boost the market growth.
Increasing pollution, increasing industrialization coupled with increasing population in developing countries is one of the major driving factor in the region. Wastewater treatment and reuse could relieve the pressure caused in water scare areas in the region. Governments and local at national and local levels are focusing to improve the wastewater treatment and reuse it from various industries. Thus, Asia-Pacific region is expected to witness sustainable growth during forecasted period.
Global Wastewater Treatment Service Market: Key Players Overview
Veolia is a global leader in optimized resource management. The company is active in three business segments namely water, waste, and energy management solutions. Veolia recorded consolidated revenue of USD 30.1 billion in 2018. The company has more than 1,17,000 employees across the globe. In 2018, Veolia launched AQUAVISTA Plant, a holistic digital solution which consists of a suite of intelligent software solutions for real-time optimization of process performance. This system is suitable for small and large municipal and industrial wastewater treatment plants.
SUEZ was incorporated in 1869 and is global leader in water and waste sector. The company provides solution for various industries such as food & beverage, chemical & pharmaceutical, construction, mining, and others. In 2018, SUEZ generated revenue of USD 18,991.22 million. In 2019, SUEZ completed a USD 9.5 million asset purchase and entered into agreement of the water and wastewater systems in MAHONING TOWNSHIP, Pennsylvania, expanding the company’s service into Montour county.
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