Major Trends in the Water Market Helps to Flourish Industry Rapidly
The global water market caters to the domestic and household sectors as well as the industrial sector, which comprises mining, power generation, pharmaceutical, pulp and paper, upstream oil and gas, refining and petrochemicals, microelectronics, and food and beverages. The role of wastewater management in the overall water market is also irrefutable. Rising scarcity of freshwater continues to push municipal and industrial sectors to treat wastewater for reuse. Removal of suspended solids, separation of oil and water, biological treatment, removal of dissolved solids, and oxidation and disinfection are the most recent and commonly used technologies in wastewater treatment. Increasing global spending on these technologies has greatly benefited the water market.
This report offers readers a concise yet all-inclusive overview of the global water market. Analysts have provided clients with insightful data pertaining to the size, structure, and performance of the market.
Global Water Market: Key Trends and Opportunities
A look at the water market in developing countries shows that while the industry has been growing in leaps and bounds, there is still massive scope for further expansion. In most developing nations, the rapid improvement of the economy and increasing population play a vital role in the demand for water for industrial and domestic use. In developed countries, the growth of the water market is just as promising as that in emerging economies. Even with modernization, advanced infrastructure, and stable income streams, the demand for desalination plants, wastewater treatment and reuse facilities, and proper maintenance of existing infrastructure are boosting the water market.
In recent years, smart water solutions have gained much prominence and demand owing to leak detection, water scarcity, and network efficiency. Outsourcing has also become a lucrative proposition for those involved in the industry. The changing role of the private sector in the overall water industry is another trend that is creating opportunities for water service companies and investors.
Global Water Market: Region-wise Outlook
The global water market is led by Asia Pacific, where the growing demand for water and water systems is fueled by the surge in manufacturing and construction activities across the region and a massive population that is consistently on the rise. Additionally, efforts on the part of the governments in Japan, India, China, and other developing countries to support and encourage urbanization and dedicate sufficient resources toward wastewater treatment processes has benefitted the Asia Pacific water market. Increasing demand for bottled water and rising use of water in the utilities sector is driving the water market in Europe, North America, and South America. Poor quality of water is a major issue in most countries in the Middle East and North Africa. This means that the scope for growth of the water market in Rest of the World segment is immense.
Increasing number of players compete in the water market, considering the importance of sustainability in the global water market and impact of the demand and supply forces on the overall industry. Nalco Water, ITT Corporation, The Danaher Corporation, Xylem Inc., Suez Environnement S.A., United Utilities Group PLC, Siemens Water Technologies Corp., and American Water are some of the leading companies operating in the global water market.
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