Market researchers suggest that capital expenditures within the scope of wastewater treatment are projecting an impressive compound annual growth rate between 6 and 9 percent over the next few years. It widely expected to reach nearly $55 billion by the end of 2023. In an era when so many industries are struggling to break even, what makes the wastewater treatment business so remarkably healthy?
In the simplest terms, modern life on earth is depleting the planet’s freshwater supply at an alarming rate. At the same time, industries such as, agriculture, automotive, power generation, mining & refining are churning out a stunning increase in wastewater. The need to take that wastewater and turn it back into fresh, reusable water is extremely urgent. The increased need to treat wastewater across the entire array of industrial industries is fueling the wastewater treatment market’s success.
As of 2015, there were more than 17,000 water desalination plants around the world. But in addition to the numbers, which are still steadily increasing, the wastewater treatment industry has been proactively upping its technology to maximize efficiency levels. Along with seeking ways to turn wastewater into fresh water again via solar and hybrid power systems that cause less strain on power grids generally. Every industry that uses water in some way can benefit from these technological advancements in the form of lower costs and more reliability in their ability to evade water shortages by reusing previously treated water.
Even with the current uncertainty surrounding world trade issues, the wastewater treatment market expects to see robust growth globally in the future. The largest market for municipal and industrial wastewater treatment systems that churn out reusable water is still the United States, a trend that is likely to continue. The American market is acutely aware of clean water issues, on a public and industrial level. The economy is also still strong enough that industries and municipalities continue to invest in more advanced wastewater treatment systems including everything from reverse osmosis, membrane technology to chemical purification, valves and pumping systems.
In addition to the U.S., China, and Latin America are expected to see upward demand in those core water treatment technology segments as well. China currently claims the second-highest market demand, and it's also currently the fastest growing market for advanced wastewater treatment technologies. Latin America is not far behind, with market growth expected to continue there and in other areas around the world, particularly the Middle East and Europe. Nations, industries, municipalities and agricultural concerns are all looking for ways to protect freshwater resources and increase the availability of reusable water sources, simply because the need is so all-encompassing.
The Need for Wastewater Treatment Systems is Fueling Market Growth
Industries and municipalities, which account for a significant portion of wastewater output can be on the forefront of keeping freshwater resources safe by investing in efficient, advanced wastewater treatment systems. Contact Desalitech’s wastewater treatment systems experts today at 1-617-564-1647 to ask for a free water quality assessment of your facilities.