Wastewater Treatment Market is Expected to Reach $34.03 billion By 2022| Report From TBRC
LONDON, Oct. 29, 2019 /PRNewswire/ -- The increasing use of Internet of Things (IoT) sensors is the latest trend in the wastewater treatment equipment market. The Internet of Things (IoT) is a network of physical devices that communicate over internet. The environmental sensors measure pollution causing particles in air and water, thereby monitoring air or water quality. It also senses radiations and hazardous chemicals in the environment. A majority of the organizations that function in the water industry depend on the Supervisory Control and Data Acquisition (SCADA) systems to monitor the water distribution systems. The use of IoT in water systems uses smart sensors that detect information about the water quality, temperature changes, pressure changes and potentially any chemical leaks. For instance, companies in the water treatment industry such as Biz4solutions are providing innovative solutions for effective waste water management and water testing analytics through IoT systematic water management in order to manage water recycling, reduce the amount of water leakages, and efficiently manage wastewater.
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Increasing Disposal Of Wastewater From The Industrial And Residential Sector
The global wastewater treatment equipment market was valued at about $28.06 billion in 2018 and is expected to grow to $34.03 billion at an annual growth rate of 4.9% through 2022. The wastewater treatment equipment market is being driven by a rapidly increasing disposal of the wastewater from the industrial as well as residential sector. High quantity of wastewater being disposed is increasing the necessity to treat the water using wastewater treatment equipment. According to a research study published by the European Environment Agency (EEA) in 2017, the percentage of the residential population disposing wastewater in northern European countries is always above 80 % out of which more than 70 % received tertiary wastewater treatment. Furthermore, in central European countries, the proportion of the population connected to urban waste water treatment in southern, south-eastern and eastern Europe is 97% out of which 75% are receiving tertiary wastewater treatment. According to the international water association (IWA)`s wastewater report published in 2018, the Philippines accounted for about a million cubic meters of wastewater disposed every year by industrial sectors in the Manila Bay and Laguna Lake. These factors are driving the global wastewater treatment equipment market.
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Installation And Operational Costs Associated With Wastewater Treatment Equipment
The wastewater treatment equipment market is being restrained by high installation and operational costs of the equipment. The wastewater treatment apparatus is equipped with sophisticated programmable logic controller (PLC) system and instrumentation system that increase the overall equipment costs and energy consumption costs. Further, the high energy consumption of wastewater treatment equipment leads to a high cost of operation and maintenance due to large amount of sludge generated. For instance, most wastewater generated in Sri Lanka is untreated, with about 65.3 million liters/day of domestic wastewater left untreated in the capital city of Colombo in 2017. According to a report by Black & Veatch on the wastewater industry in 2016, managing capital costs and operational costs are the major challenges of the wastewater industry. Also, according to a report by the UN (United Nations) on water quality in 2013, 80% of sewage in developing countries is discharged untreated directly into water bodies, and industries across the world dump an estimated 300-400 MT of polluted waste in water bodies every year in order to reduce treatment costs. For instance, in Finland, an initial investment of 7,000 to 10,000 euros is required to install a modern on-site wastewater treatment plant. Further, the operating costs for the same are also high as they comprise of the chemical, electricity and service agreement cost.
Wastewater treatment equipment is used to treat solid, liquid, gaseous or radioactive substances, remediation and processing of effluent wastewater and waste matter from households, businesses and other organizations. Wastewater carries a mixture of suspended or dissolved solid wastes or effluents from residential, agricultural or industrial areas. Wastewater treatment equipment includes water filtration equipment, membrane equipment, thermal distillation equipment and evaporators, and disinfection equipment.
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