As levels of water contamination rise, so will the need for drinking water treatments. In addition, small towns, cities, and educational institutions frequently use drinking water treatments. It is projected that rising market value will be driven by growing public awareness of the advantages of clean water. Additionally, as education, literacy, and wealth levels have increased worldwide, people's awareness of the importance of clean water in preventing sickness and preserving good health has grown. Awareness has grown in developing nations, including China, India, Brazil, and South Africa. Additionally, market participants would benefit from growing country spending on drinking water treatment during the projected period.
The market for drinking water treatments suffered due to the current coronavirus outbreak. The market suffered a significant financial blow as a result of the substantial operating disruptions brought on by the different precautionary lockdowns implemented by governments. Markets are finding it difficult to meet the increasing needs of their target audience because of a lack of resources and qualified staff. The factors above will impact the market's revenue trajectory over the forecast period. On the plus side, it is predicted that the market will rebound after COVID when individual regulatory bodies loosen these imposed lockdowns.
Market Technological Advancements to Support its Expansion
Due to the dramatic increase in world population, the market is poised for global expansion. A high degree of technological advancement is seen in the drinking water treatment sector, improving the rate of expansion. Additionally, the major worldwide regions have just recently begun to experience industrialization, which is projected to increase the number of prospects for market growth and development during the projection period. The market is expected to grow at a fantastic rate over the projected period due to rising water usage, pollution, and contamination levels, as well as rising concerns among a growing global population.
Heavy Investment and Increased Operating Costs will Impede Market Expansion
The market for packaged water treatment systems will have challenges as a result of their high price. Treating water is costly and requires ongoing maintenance and correct sludge disposal or further stabilization after the process. Additionally, the complexity of operations requires a lot of labor-intensive work, which raises operational costs and competition levels, reduces profit margins, and requires significant investments to construct manufacturing facilities. It is projected that these factors will impede market expansion in the upcoming years.
Based on technology, the drinking water treatment market is segmented into extended aeration, moving bed biofilm reactor, membrane bioreactor, sequential batch reactor, reverse osmosis, and other technologies. The extended aeration category dominated the market in 2022 due to its significantly reduced startup costs, including investments. Sewage treatment utilizing modified activated sludge techniques is known as extended aeration. It is preferred for light waste loads, where mechanical simplicity makes up for poorer operational efficiency. Reverse osmosis and MBBR come next. The market for these technologies is further fueled by the severe environmental regulations and sustainability mandates paving the way for alternatives to chemical-based water and wastewater treatment systems such as extended aeration, MBBR, RO, MBR, and SBR.
The Asia Pacific is projected to hold the largest share of the drinking water treatment market over the forecast period due to the region's increasing need for clean water supplies, population expansion, and increased government expenditure on water purification. Due to the increase in education, literacy, and economic levels worldwide, people in this region are now more aware of the significance of having access to clean drinking water for preventing sickness and maintaining good health. Additionally, awareness has grown in developing nations like China, India, and South Korea. Another significant factor influencing the market for drinking water treatments is the growing world population, which has put pressure on water resources. On the other hand, the North American drinking water treatment market is anticipated to grow significantly over the forecast period. Due to the existence of nations like the US, Canada, and Mexico and a sizable number of significant important players, the market demand in this area is driven. Due to the population and industrial sectors' rapid growth, there is a greater need for freshwater, which drives this market. The market for drinking water treatments in this region is expanding due to the governments' growing investments in wastewater treatment.
LIST OF KEY COMPANIES PROFILED:
- Veolia Water Technologies
- Corix Water Systems
- Westech Engineering Inc.
- GE Water & Process Technologies
- Napier-Reid Ltd.
- CST Wastewater Solutions Inc.
- Smith & Loveless Inc.
- WPL International
- RWL Water
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Technology Type and By Geography|
|By Technology Type||