The global demand for the water treatment market stood at US$ 66,094 Mn in 2022 and is slated to increase at a CAGR of 6.8% to reach a valuation of US$ 111,922 Mn by the end of their forecast period.
The historical growth of the water treatment system market from 2015 to 2021 is valued at a CAGR of 5.5%. The growing emphasis on the significance of fresh water in various industrial and household applications is increasing the adoption of water treatment systems across the globe.
Water Treatment System Market Analysis (2021A) - US$ 62,214 Mn
Water Treatment System Market Estimation (2022E) -US$ 66,094 Mn
Water Treatment System Market Forecast (2030F) -US$ 111,922 Mn
Value CAGR (2022-2030) - 6.8 %
Collective Value Share: Top 3 Countries (2022E) -42.8%
FMI has identified North America to remain a key market for water treatment systems due to the rising use of water treatment systems and the growing adoption of new technologies for these systems. The region is estimated to witness a value CAGR of 5.2% in the water treatment systems market.
As the worldwide population is expected to reach around 9.7 billion by 2050, it has become increasingly important to yield more with fewer resources. As the water treatment market continues to encounter squeezing pressures, particularly due to the impacts of severe climate change, governments across the world are focusing on improving the resilience and sustainability of water treatment systems.
Technology and innovation are playing a vital role in safety and scarcity, utility operations, water efficiency, monitoring and treatment, and data analytics. Market players are seeing a greater interest by businesses and utilities to test and implement future-proof technologies.
For instance, remote sensing of water that helps with non-revenue water remediation, water accounting, Internet of Things (IoT) that enables water quality control, and smart irrigation. Coupled with new computing capacity, IoT enables market players to devise complex models for water management.
Key Takeaways of Water Treatment System Market Study
COVID-19 Impact on Water Treatment System Market
While frequent hand washing and sanitization has been broadly considered as among the most efficient ways to avoid contagion of COVID-19, UNICEF/WHO has estimated that 3 billion individuals globally lack the facilities to follow such norms. With the COVID-19 pandemic underlining the connection between clean water and public health, the bar for “clean” has been lifted.
Water treatment systems have been considered a reliable and essential aspect of societies and a key contribution to public health during the global pandemic. Utilities’ initial response to the pandemic by optimizing disinfection doses has been the key step in the protection and avoidance of both utility workers and the receiving water ecosystem and minimizes the potential contagion of the coronavirus.
Several companies are stepping up existing water treatment facilities in hard-hit areas that possibly contract COVID-19 infection from places including, community clinics, hospitals, and nursing homes.
“Preserving and reusing wastewater has not been among key priorities for businesses, or individuals. That being said, rising ecological consciousness and increasing regulatory pressure to lower the consumption of natural resources are influencing several industrial businesses to look for innovative ways to use – and reuse – water,” says analyst at FMI.
Water Treatment System Market – Competitive Intelligence
The global water treatment system market is substantially consolidated, with leading players capturing a bigger slice of overall market revenue. Manufacturers are highly focused on devising innovative business models to strengthen their market position. They are investing significantly in R&D activities and innovative designs with better capacities. For instance,