The global water and wastewater treatment market is projected to grow at a CAGR of 7% owing to rising technological innovation in the market, says a report by Ken Research
1. High cost of treatment alongside a wide number of opportunities provides a balance in the Global waste water management market
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Wastewater is systematically treated in three stages, primary, secondary & tertiary treatment all three of which requires specific skills & expertise. These process are also quite capital intensive. For instance, the development bank of Latin America (CAF) estimated that over the period of 2010-30, USD 80 Bn will be spent on sewerage infrastructure & treatment. A few components that increase the cost of waste water treatment are flow rates of the effluent, water quality, required degree of purity & construction chemicals. Even though the cost of treatment is high, the market provides a vast opportunity for the companies entering the same & has endless profit generation opportunities given the rising rate of pollution & stringent government regulations.
Recent Trends in Global Waste Water Management Market
2. Rising Population has resulted in an urgent need for proper Waste Water management market indicating an increasing demand for the market
As per statistics, the world population is projected to reach 8 Bn. The growing population continues to build pressure on water resources that are already under massive strain. Thus, technologies that promote more efficient use of already available water are increasing. Further, water scarcity, energy savings, and increasingly complex industrial wastewater treatment demands push companies to implement new techniques to optimize environmental and economic performance.
Demographic Trends in the Global Market
3. Increased technology adoption & its subsequent usage by both industries & municipals indicates massive market opportunity.
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According to a survey conducted by the Global Water Leaders Group, COVID-19 has reduced industrial water usage by an average of 27%. However, numerous government bodies and non-profit organizations are taking initiatives to develop awareness regarding hygiene due the pandemic, this is expected to propel the market growth during the post pandemic times. Moreover, with development in technology infrastructure & its adoption is expected to boost the market growth in the upcoming years. The market is expected to reach a size of USD 500 Bn by 2030.
Future Trends in Global Waste Water Management
For more insights on the market intelligence, refer to the link below:-
Global Waste Water Management Market
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