Water Treatment Market size is set to record commendable growth throughout the forecast period 2021-2027. Worldwide, there is an exponentially rising water demand owing to population growth, urbanization, industrialization, economic development, agricultural use, and environmental degradation.
The increased occurrence of waterborne diseases and growing focus over water quality and public health is driving new investments in water treatment. Meanwhile, tightening government regulations regarding the management of industrial effluents is accelerating developments in wastewater treatment and processing.
The global rise in infrastructure development, commercial development, and industrial growth is augmenting the need for efficient water treatment across key industry verticals. Each year, federal spending on water management infrastructure is rising under various schemes and initiatives. The water treatment market will benefit significantly from the ongoing advances and innovations in water and wastewater management techniques.
Safe, contaminant-free water is essential for the human health, economic and social development, as well as the environment. Water resources globally are under significant strain due to the rapid rate of residential, commercial, and industrial expansion. Therefore, efficient management, processing, and treatment of water and wastewater is becoming increasingly important.
The industrial water treatment market is estimated to witness considerable growth through 2027. The growth can be largely attributed to the imposition of stricter regulations regarding industrial wastewater management in both developed and developing countries. Technological advances and the implementation of more advanced water treatment techniques will positively impact the segment growth.
In terms of the regional landscape, North America water treatment industry share will expand substantially during the analysis period 2021-2027. The regional demand is mainly driven by increasing water consumption in key end-use verticals including agriculture, food & beverage, chemical, pharmaceutical, and others. The increasing demand for demineralized water for amplifying power generation in order to support the industrial development will open up significant opportunities for water treatment companies in the region. In July 2021, for example, SUEZ North America had bagged a series of contracts worth USD 223 million for providing water and wastewater treatment services over the next 20 years.
Growing federal funding in the U.S. will positively impact North America water treatment market trends. For instance, July 2021, the Biden-Harris Administration had invested more than USD 307 million in rural water and wastewater infrastructure improvements encompassing 34 states and Puerto Rico.
Besides SUEZ, 3M Company, LG Corporation, Unilever, Panasonic Corporation, DowDuPont, General Electric, A.O. Smith, Pentair, Kemira, Veolia, Flowserve, BWT, EcoWater Systems (Marmon Water, Inc.), WestAqua-Distribution OU, Instapure Brands, Culligan (Clayton, Dubilier & Rice), Coway (Netmarble), ITT, and Kinetico are among the major companies offering water treatment solution and services globally.
The COVID-19 pandemic has slowed down investments in the water treatment market to some extent globally. With strict government restrictions in place, many end-users of water have downscaled or reduced activities, leading to a declining industrial demand. According to a survey conducted by the Global Water Leaders Group, it was estimated that the demand for industrial water demand could fall by 27% due to COVID-19 crisis. A weakened demand across large industrial and commercial users is affecting water treatment market significantly.