Global Water Treatment Market Anticipated to Surge Past USD 137.17 Billion by 2034, Driven by a Decent 7% CAGR Growth | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
The water treatment market in the United States is projected to record a CAGR of 5.4% from 2024 to 2034. Rising demand for smart water treatment systems that are IoT-enabled to increase the reliability of present water facilities by analyzing and gathering data more effectively.
NEWARK, Del, July 15, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the water treatment market value is expected to rise from USD 69.73 Billion in 2024 to USD 137.17 Billion by 2034. This estimated growth is expected to be driven by a CAGR of 7.00% over the next decade.
The market is driven by the increasing adoption of industrial water treatment systems in the food and beverage industry to ensure user compliance with strict quality standards. Further, the authorized operating certification standards for industries are being issued on account of permitted water treatment systems in various industry verticals, which is accelerating the demand for innovative water treatment systems.
Increasing integration of IoT and data analytics for the effective management of water infrastructure as well as lowered non-revenue water losses is expected to drive salient transformations in the ways with which water units and firms operate.
Over the upcoming years, cutting-edge technology in water treatment systems is projected to increase the production rate of water to ensure supply among the continuously expanding global population.
Water Treatment Systems Market– Standard Practice in Industrial Processes
Several facets of industrial sector are leveraging umpteen benefits of industrial water and wastewater treatment system. Industries produce voluminous quantity of water every day for numerous purposes. However, the quality of water consumed is critical in production processes. In particular, purified water helps in curbing adverse impacts that occur due to contaminated water.
Industrial water treatment system for food and beverage industry assures easy fulfilment of stringent quality and consistent requirements, from producing potable water processing to aiding disinfect water before discharge. The mandated operating certification standards for industries is now being issued on the basis of approved water treatment systems in several industry verticals.
In similar fashion, cosmetics industry also accent for industrial water treatment system that yields 100% pure water. The disinfected water helps in maintaining product quality throughout manufacturing processes, which further improves shelf life of products.
Further, in paint industry, purified water is essential for manufacturing water-based paints. UV disinfection industrial water treatment system coupled with wastewater treatment plants enable treatment of several aspects of wastewater, which is used to clean mills and containers, as well as wash floors to manufacture next batch of paints.
“The market for water treatment in Asia Pacific is expected to outpace that of North America and Europe in terms of growth. Key players are thus searching for expansion projects in Asian economies to raise their visibility and generate more revenue. Furthermore, players are incorporating new-age technologies like IoT and data analytics to distinguish their product offerings,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Water Treatment Market Report:
Based on the system type, the preliminary water treatment segment is projected to acquire a market share of 39.30% in 2024.
By application, the process water treatment segment is anticipated to capture a share of 46.80% in 2024.
In Asia Pacific, China is estimated to show significant growth opportunities over the next decade.
India is expected to witness a CAGR of 9.4% from 2024 to 2034.
The water treatment market in Australia is projected to expand at a CAGR of 7.3% in the next ten years.
Competitive Strategies Used by Market Players:
Key players are strategically acquiring and partnering with other players to increase their product portfolios and expertise in the market. Additionally, leading companies are focusing on technological advancements and innovations to have the upper hand in terms of cost-effectiveness, efficiency, and environmental impact.
For an enhanced share in the market, key players are traversing new territories, especially where growth potential is significant. Industry participants are further emphasizing technical support, customer service, and value-added solutions, such as consultancy and training, to invigorate brand loyalty.
New Developments Taking Place in the Water Treatment Market:
In February 2024, NIHON GENRYO CO., LTD., Japanese water treatment pioneer released sustainable filtration innovations to revolutionize the water treatment industry. The company is on a transformative journey toward a water-secure future.
In October 2023, Netsol Water’s co-founder shared the company’s vision to increase the sustainability and efficiency of wastewater treatment systems in India by employing progressive technologies like artificial intelligence (AI) and the Internet of Things (IoT).
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The Industrial Automation division of Future Market Insights offers a novel approach and innovative perspective in analyzing the industrial automation domain. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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