Demand for advanced process control systems and automation drives the operation and process control segment in the industrial wastewater treatment service market
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The global industrial wastewater treatment service market size is expected to reach USD 31.70 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research.
Due to growing worries about how industrial activities are affecting the environment, the market for industrial wastewater treatment services has been expanding significantly in recent years. A significant source of pollution that threatens the environment, people’s health, and aquatic life is industrial wastewater. This effluent must be treated in order for it to be released into the environment or used again for industrial uses.
The strict government rules regulating wastewater discharge are one of the major factors driving the market for industrial wastewater treatment services. Stricter rules are being implemented by governments all over the world regarding the release of industrial wastewater into the environment. Industrial wastewater treatment services are now required as a result to assist businesses in adhering to these rules.
The rising emphasis of sustainable development is another element influencing the industry. Businesses are seeking for ways to lessen their environmental effect and raise their sustainability credentials on a regular basis. As businesses look to cut back on their water usage and wastewater discharge, this has increased demand for industrial wastewater treatment services.
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The market for industrial wastewater treatment services is not without its difficulties, though. The high cost of installing wastewater treatment systems is one of the key obstacles. Due to the significant up-front expenditures, many businesses are hesitant to invest in these systems. Additionally, it may be challenging for businesses to implement their own wastewater treatment systems due to the complexity of the treatment process and the requirement for specialised equipment and knowledge.
The industrial wastewater treatment service market is anticipated to expand in the next years despite these obstacles. The rising need for recycled water is one of the major development causes. Recycled water is a solution that businesses are finding to be an increasingly appealing one as they want to cut back on water usage and lessen their environmental impact. As more businesses opt to implement wastewater treatment systems to recycle their water, this is anticipated to fuel the expansion of the industrial wastewater treatment service market.
Up to 70% of the water contamination in the globe is a result of industrial operations, according to a research by the UN. This demonstrates the severity of the issue and the critical role that industrial wastewater treatment services play in reducing the negative environmental effects of industrial operations. The report also emphasises the potential for the market for industrial wastewater treatment services to expand as more businesses strive to raise their sustainability standards and adhere to legal requirements.
Industrial Wastewater Treatment Service Market Segmentation:
The industrial wastewater treatment service market is segmented based on treatment method, service type, and end-use. Among the treatment methods, the filtration segment accounted for the largest revenue share in 2020, due to the high demand for filtration systems in industrial wastewater treatment. Filtration is a critical process that helps to remove contaminants from wastewater to ensure it meets the required standards for discharge into the environment or reuse.
In terms of service type, the operation and process control segment is expected to expand at a rapid CAGR during the forecast period. This is attributed to the increasing demand for advanced process control systems and automation technologies in the industrial wastewater treatment service market. These systems optimize the treatment process, improve efficiency, and reduce operating costs.
Among the end-use industries, the Asia Pacific region accounted for the largest revenue share contribution to the global industrial wastewater treatment service market in 2020. This is due to the rapid industrialization and urbanization in the region, coupled with increasing government regulations on wastewater discharge. The region is home to some of the world’s largest and fastest-growing economies, including China, India, and Japan, which are significant contributors to industrial wastewater generation.
Other end-use industries in the industrial wastewater treatment service market include chemical and pharmaceutical, power generation, metals and mining, pulp and paper, oil and gas, and others. The power generation segment accounted for a significantly high revenue share in 2020 due to the increasing demand for energy-efficient solutions in the industrial sector. Meanwhile, the chemical and pharmaceutical industries are expected to witness significant growth during the forecast period, driven by stringent regulations on wastewater discharge and the need to comply with sustainability goals.
The market for industrial wastewater treatment services is a significant and expanding industry as a result of increased environmental concerns over industrial activity. The market is expanding as a result of government laws, sustainable development, and rising demand for recycled water. But among the difficulties facing the business are the high cost of installing wastewater treatment equipment and the complexity of the treatment procedure. The industrial wastewater treatment service market is anticipated to expand over the next several years despite these obstacles.
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Some Key Highlights from the Report
In February 2020, Biochemica Water Ltd., a UK-based water treatment company, announced the launch of a new industrial wastewater treatment service. The service, called Biochemica WWT, is designed to provide a comprehensive solution for industrial wastewater treatment.
Operation & process control segment revenue is expected to expand at a rapid CAGR during the forecast period due to the increasing demand for advanced process control systems and automation technologies in the industrial wastewater treatment service market. These systems help to optimize the treatment process, improve efficiency, and reduce operating costs.
Power generation segment accounted for a significantly high revenue share in the industrial wastewater treatment service market in 2020 due to the increasing demand for energy-efficient solutions in the industrial sector. Power generation companies require large amounts of water for their operations, and the wastewater generated during the process needs to be treated before it can be discharged into the environment.
Filtration segment accounted for largest revenue share in 2020 due to the high demand for filtration systems in industrial wastewater treatment. Filtration is a critical process in wastewater treatment, as it helps to remove solids, suspended particles, and other contaminants from the wastewater. This ensures that the treated water meets the required standards for discharge into the environment or reuse.
Asia Pacific accounted for largest revenue share contribution to the global industrial wastewater treatment service market in 2020 due to the rapid industrialization and urbanization in the region, coupled with increasing government regulations on wastewater discharge. The Asia Pacific region is home to some of the world’s largest and fastest-growing economies, including China, India, and Japan, which are significant contributors to industrial wastewater generation.
Key players in the market include Veolia, SUEZ, Xylem Inc., Ecolab, Thermax Group, Pentair, Evoqua Water Technologies, WOG Technologies, Golder Associates, and SWA Water Australia.
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