As the water treatment market continues to encounter squeezing pressures, particularly due to impacts of severe climate change, governments across the world are focusing on improving resilience and sustainability of water treatment systems. The predicted valuation of the market is expected to approach $111.9 billion by 2031, according to a recent report from Future Market Insights.
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 helps with non-revenue water remediation, and water accounting, and the Internet of Things (IoT) 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
· Worldwide adoption of water treatment systems to surge at 6.7% CAGR over 2022-2031
· Preliminary treatment systems to procure leading revenue share, tantamount to 40%
· Application in process water/water treatment to remain prominent through 2031
· Industrial sector to attract substantial investments from stakeholders
· East Asia to emerge as epicenter of value-capture opportunities in coming years
COVID-19 Market Impact
While frequent hand washing and sanitization has been broadly considered as among the most efficient ways to avoid contagion of COVID-19, the 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 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 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 an analyst at FMI.
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,
· Arvind Ltd. has rolled out water elements and O & M services, Kaigo, wherein components and spare verticals incorporate technologies and products used in the development and maintenance of effective wastewater treatment systems
· Aquatella has developed a 4-stage countertop water filter that wards off almost 99% of all heavy metals, toxic pathogens, chemicals, and pesticides from potable water
· Pentair plc has taken over US-based water treatment equipment firms - Pelican Water Systems and Aquion - in September 2022
These insights are based on the report, Water Treatment System Market from Future Market Insights