The mobile water treatment systems market is forecasted to expand at an impressive CAGR of 8.9% in terms of value through the period of forecasting between 2020 and 2030. The growth of the market is predominantly attributed to the rising emphasis on wastewater recycling by public and private entities coupled with advancements in desalination techniques.
However, as the industries step back and postpone operations during the COVID-19 pandemic, the demand for mobile water treatment systems is expected to witness a downfall.
“Surging demand for efficient water treatment systems among industries to mitigate water crisis in case of plant downtime, for facility maintenance, and shortages of drinking water will continue to bestow remunerative opportunities to market players for the years to come,” says the Fact.MR report.
Mobile Water Treatment Systems Market – Key Takeaways
- The mobile water treatment systems market is forecasted to surpass a global valuation of $3.6 Billion by the end of 2030.
- The microfiltration process is expected to remain the most sought out process and will offer an incremental opportunity of US$ 726 Mn through 2030.
- Based on end-use, the industrial usage segment is poised to grow in value at a CAGR of 9.5% during the forecast period.
- By service, the rental segment captured nearly 60% of global value and will continue to channel the majority of revenue.
- North America, which currently holds over 30% of the market value will prevail as the largest regional market through the forecast period and is poised to create an absolute revenue opportunity of $574 Million during the assessment period.
Mobile Water Treatment Systems Market – Driving Factors
- Challenges faced by manufacturing plants due to severe water shortages and unavailability of freshwater resources across several countries are asserting them to seek water treatment systems, thus acting as a major growth attribute.
- Growing demand for uncontaminated water across manufacturing and processing sectors such as power & energy, pharmaceuticals, and chemicals will continue to impel the revenue flow of the mobile water treatment systems market.
Mobile Water Treatment Systems Market – Constraints
- High installation and maintenance costs of these systems are limiting the adoption to an extent.
- The accuracy of mobile water treatment systems is lower than that of standard ones, which is limiting growth
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Anticipated Market Impact by Coronavirus Outbreak
As the global manufacturing and process sectors come to an abrupt end as a result of COVID-19, numerous other industries producing equipment have experienced the ripple effects of halted operations.
On this premise, mobile water treatment systems are no different and have witnessed a steep decline in demand during the first and second quarters of 2020. National Association of Clean Water Agencies (NACWA) predicted revenue losses of $12.5 Billion due to pandemic and downtrend is expected to prevail through 2020 with recovery likely to begin from the dawn of 2021.
The key players operating in the mobile water treatment systems market include, but not limited to, The DOW Chemical Company, BASF, Albemarle Corporation, Evonik Industries AG, Eastman Chemical Company, Hunstman International LLC, Air Products and Chemicals Inc, and Covestro AG. Manufacturers are focusing on widening their brand visibility through partnerships and contracts. On these lines, Veolia Water Technologies procured a contract from MODEC in January 2020 to supply seawater treatment packages.