- The power generation segment is expected to be the largest industrial wastewater treatment service market, by end-user, during the forecast period.
- The filtration segment is expected to be the fastest growing industrial wastewater treatment service market, by treatment method, during the forecast period.
- Asia Pacific is estimated to dominate the global industrial wastewater treatment service market.
The global industrial wastewater treatment service market is projected to reach $28.0 billion by 2024 from an estimated $20.8 billion in 2019, at a CAGR of 6.1% during the forecast period. The market growth can be attributed to the stringency maintained by the government on the illegal and improper discharge of industrial wastewater out in the open natural environment, adherence to initiative of Zero Liquid Discharge (ZLD) and also the ever-growing water intensive industries.
The power generation segment is expected to hold the largest market share during forecast period. This is mainly because of a significant increase in the requirement of power generation, especially in developing regions such as Asia Pacific. For instance, countries such as China, India, Japan, and South Korea are ensuring that the power requirement of the people is addressed adequately through various schemes. The growing demand is causing an increase in the number of power generation units to cater to this demand, resulting in a rise in wastewater generation. Thus, there is a rising need for treating the wastewater generated from these power generation units.
The treatment method segment deals with the treatment methods and processes of the industrial wastewater treatment service market. Filtration is usually needed before sanitation treatments, to remove particles that can distribute sediment, pathogens, and algae. The filtration segment is expected to hold the largest market share during the forecast period. The major types of filtration processes include chlorine filtration, Ultraviolet (UV) filtration, and Ozone filtration. Among these processes, UV filtration is a hugely cost intensive process, followed by the Ozone filtration process. These processes’ overall cost is more than that of processes such as disinfection and desalination. Thus, the filtration process is expected to dominate this segment due to the aforementioned factors.
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Asia Pacific is estimated to dominate the global industrial wastewater treatment service market in 2019, owing to the growth in the industrial, manufacturing, textile, pulp & paper, and power generation industries in countries such as China, India, and Japan. These are rigorous water intensive industries and simultaneously eject a lot of industrial wastewater. Thus, a major scope of industrial wastewater exists in these regions.
Some of the key players are Veolia (France), SUEZ (France), Xylem (US), Thermax Group (India), Ecolab (US), Pentair (UK), Evoqua Water Technologies (US), WOG Group (US), SWA Water Holdings (Australia), Aries Chemical (US), Terrapure Environmental (Canada), and Golder Associates (Canada). The leading players are adopting various strategies to increase their share in the industrial wastewater treatment service market.