The wastewater treatment services market size is estimated to be USD 53.0 billion in 2021 and is projected to reach USD 71.6 billion by 2026, at a CAGR of 6.2% between 2021 and 2026. . 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.
APAC is expected to be the fastest-growing wastewater treatment services market.
The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The wastewater treatment services market is growing significantly and offers opportunities for various industries. The APAC region constitutes approximately 61.0% of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest wastewater treatment services market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market. To know about the assumptions considered for the study download the pdf brochure The increasing population in the region accompanied with development of new technologies and products are projected to make this region an ideal destination for the growth of the wastewater treatment services market. However, establishing new plants, implementing new technologies, and creating a value supply chain between raw material providers and manufacturing industries in the emerging regions of the APAC are expected to be a challenge for industry players as there is low urbanization and industrialization. Booming power, consumer goods and packaging sectors and advances in process manufacturing are some of the key drivers for the market in the APAC. Countries such as India, Japan, and China are expected to witness high growth in the wastewater treatment services market due to the increasing demand from the food, pulp & paper, chemical, and power & generation industry.
North America is estimated to be the largest wastewater treatment services market
North America is the largest wastewater treatment services market in the world. Key countries in the region include US, Canada and Mexico. As the market in North America is mature, it is projected to grow at a lower CAGR during the next five years. North America has always been a major wastewater treatment services market due to the presence of developed industrial sector in the region. This market is growing more due to adoption of stringent regulations towards environment. Many economies throughout the world have been adversely hit by the COVID-19 outbreak. Governments throughout the world have imposed partial or complete lockdowns to prevent the spread of the disease and its effects, affecting a wide range of manufacturing and service industries, including water and wastewater treatment.COVID-19 has affected the wastewater treatment services market only in industrial applications in the first two quarters of 2020. According to an article, wastewater treatment services for industrial applications have been impacted because of the pandemic as Industries were shut down due to the lockdown restrictions and there was no production, which in turn reduced the wastewater production. 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. Request for Sample Paper: https://www.marketsandmarkets.com/requestsampleNew.asp?id=38039841