The global water treatment system market value is expected to rise from US$ 65.16 billion in 2023 to US$ 1,28.23 billion by 2033. This market is expected to be driven by an average CAGR of 6.2% in the global water treatment system market over the next decade.
Due to concerns over consuming contaminants that can lead to health issues like reproductive problems, neurological disorders, gastrointestinal illness, etc., high demand for potable water is enhancing market growth. Regulatory mandates to reduce certain contaminants to protect human health are boosting sales of water treatment systems.
Rising demand for water treatment systems in end-use sectors like municipalities, semiconductors, pharmaceuticals, and food and beverage for a cleaner final product is augmenting investments in these sectors. Government initiatives for increased access to clean drinking water also propel water treatment technology adoption.
In emerging economyies, the water and wastewater management scope is quite broad, particularly in countries like China and India. In India, the preference for high-end treatment technologies is also rising. Government initiatives in the country are also fostering market growth.
For instance, the initiation of the Jal Jeevan Mission offers piped drinking water to around 150 million households by 2024. Moreover, the water demand in India is estimated to be 2X the available supply by 2030. Therefore, private and public sector units have determined goals to create comprehensive distribution infrastructure and water and wastewater treatment.
Projects like those that the one mentioned above create business prospects for suppliers of water quality monitoring systems, water meters, tertiary treatment technology, water management-related IT systems and other companies.
“Investors and stakeholders are projected to find significant growth prospects in emerging economies like China and India, where water consumption is significantly high owing to an ever-increasing population, expanding end-use industries, water contamination, etc. Additionally, developing countries are exhibiting higher acceptance for advanced water treatment technologies, thus positively impacting the sales of water treatment systems,” says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Key Takeaways
· In North America, the United States and Canada have CAGRs of 5.4% and 4.3%, respectively, through 2033.
· Germany holds a higher growth rate of 4.3% than Italy, France, the United Kingdom, and Spain.
· China and India are potentially high consumers of water treatment systems, with CAGRs of 10.2% and 9.4%, respectively, through 2033.
· The ASEAN countries are estimated to expand at a CAGR of 8.6% through 2033.
· Based on application, process water treatment is predicted to account for 46.8% in 2023.
· The preliminary treatment system type is expected to hold a 39.3% market share in 2023.
Tactics of Leading Companies
Key providers of water treatment systems are building a varied portfolio to attract more customers. Besides this, key players are joining strategic partnerships with diverse industries to offer them water treatment and maintenance solutions. Leading companies are seen developing an all-inclusive water treatment process via advanced logistics, nanotechnology, and AI to treat impurities found in water resources.
Key Developments
· In October 2023, BIO-UV Group launched the IO-SEA Mini Ballast Water Treatment System. This is in response to the surging demand for ballast water treatment solutions from operators of yachts, workboats, OSVs, research chips, and smaller-sized vessels.
· In October 2023, The Springfield Water and Sewer Commission launched a new Backwash Facility, which is expected to modernize the city's water system.
· Coway Malaysia disclosed its recent water purifier model called Coway Kecil in December 2020. The model displays direct filtration technology and has a sleek design that can be used in small spaces. This model won Coway a platinum prize in the water purifier category.
These insights are based on a report on to Water Treatment System Market by Future Market Insights.