In the year 2021, wastewater treatment plants market value was at about $117.2 billion, and it is probable to drive at a compound annual growth rate of 5.8% in the years to come and reach $194.5 billion by 2030. The main factors attributed to the evolution of the market embrace the inadequate obtainability of freshwater all around the world and strict environmental rules which are applied by governments of a number of countries at a global level.
The value from effluent treatment plants is in excess of 50% of the overall wastewater treatment plants market. This is for the reason that a huge amount of wastewater is produced from manufacturing units. As per the forecasts made in the UN World Water Development Report of 2021, water withdrawals for industrial usage are likely to double by the year 2030. Moreover, in the majority of the countries, according to government regulations, the wastewater generated from industries has to undergo treatment before it can be put into the water bodies.
APAC region leads the market generating in excess of 40% of the total value in the year 2021, and it will observe the highest growth, of about 7%, in the years to come among all regions. Presently, China is the highest revenue generator in the APAC, and India is second. The key aspect attributing to the wastewater treatment plants market growth is the increasing power, oil & gas, pulp, mining chemicals, and further industries. The surge in the requirement for potable water is responsible for the rising emphasis on the treatment of wastewater, as these sectors use a lot of water and produce huge effluents.
China houses 21% of total population of the world; though, it has merely 6% of the global freshwater resources. In the year 2020, the nation discharged about of wastewater amounting to 55.7 billion cubic meters. Therefore, the country immensely funds effluent treatment services for catering to the growing demand for water for housing along with manufacturing use. In all, 39,000 novel wastewater treatment plants were established in China in the year 2020, thus contributing to the development of the wastewater treatment plants market globally.
Limited availability of freshwater has much to do with the increasing demand of wastewater treatment plant systems.
