Wastewater Treatment Service Market is to grow by USD 22.62 billion from 2022 to 2027 | The growing demand for reclaimed water to drive the growth- Technavio

NEW YORK, Oct. 18, 2023 /PRNewswire/ -- The wastewater treatment service market is expected to grow by USD 22.62 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 6.67% during the forecast period. The market is segmented by end-user (chemical and pharmaceutical, food pulp and paper, oil and gas, metals, and mining, and others), type (design and engineering consultation, building and installation services, operation and process control, and maintenance services), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The report also covers information on trends and challenges. Explore detailed information by purchasing a report

The growing demand for reclaimed water is a key factor driving the market growth. Countries have been promoting the use of recycled water because freshwater resources are being depleted due to a rapid increase in demand for drinking water and changing climatic conditions. The rapid population increase is creating a huge demand for consumable water for basic needs. The growing demand for clean water and the growing world population are the main factors determining the demand for wastewater treatment services. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample Report 

Key Highlights:

• The report recognizes the following as some of the key players in the wastewater treatment service market: Apex Co. LLC., Aries Chemical Inc., Cortec Corp., Eckstine Electric Co., Ecolab Inc., EVOQUA WATER TECHNOLOGIES CORP., Feralco AB, Hydrite Chemical Co., Italmatch Chemicals Spa, Rockwell Automation Inc., Skanska AB, Solenis LLC, SUEZ SA, The York Water Co., Thermax Ltd., Veolia Environment SA, WABAG Group, WOG Group, WSP Global Inc., and Xylem Inc.
• Wastewater Treatment Service Market is fragmented in nature.
• Market to observe 5.81% YOY growth in 2023.

Market Dynamics:

Major Trend

• Integration of AI and IoT with water treatment infrastructure is a major trend in the market.
• Digital technologies are helping to store the necessary data needed for the proper treatment of a plant.
• In addition, digitalization is expected to allow a plant to optimize its functioning and reduce the use of chemical treatment.

Significant Challenge

• The high cost of wastewater treatment technologies is a significant challenge restricting market growth.
• The treatment of wastewater is an extremely complex and custom solution, which requires constant maintenance and installation.
• In the case of operating costs, up to 50% of total annual expenditure may be accounted for.
• Maintenance, staff, energy consumption, and disposal costs shall be included in the operational costs.

Keg Segments:

• The market share growth of the chemical and pharmaceutical segment will be significant during the forecast period. With the rising developments in the pharmaceutical industry, environmental pollution has also increased in the past decade. Owing to the variety of pharmaceutical products, such as biopharmaceuticals and chemical pharmaceuticals, and the difference in their production scales and processes, many kinds of pharmaceutical wastewater are generated. 

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Related Reports

The waste recycling services market size is estimated to grow at a CAGR of 5.67% between 2022 and 2027. The market size is forecast to increase by USD 18.98 billion.

The wet waste management market size is estimated to grow at a CAGR of 5.08% between 2022 and 2027. The market size is forecast to increase by USD 36.54 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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