Global Industrial Wastewater Treatment Service Market Size to Reach USD 40.48 Billion in 2032 | Emergen Research
Global Industrial Wastewater Treatment Service Market Size to Reach USD 40.48 Billion in 2032 | Emergen Research Yahoo Finance
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Industrial Wastewater Treatment Service Market to Reach USD 40.48 Billion by 2032
Increasing contaminants released from industries, rapid population growth, rising industrial activities, and rapidly shrinking freshwater sources are key factors driving Industrial Wastewater Treatment Service Market growth.
Introduction
Vancouver, Oct. 02, 2023 (GLOBE NEWSWIRE) — The global industrial wastewater treatment service market size is expected to reach USD 40.48 Billion in 2032 and register a steady CAGR 6.3% over the forecast period, according to the latest analysis by Emergen Research. Robust market revenue growth can be attributed to rapid industrial growth, shrinking water resources, and rapid population growth. Growing concerns over the contamination of water resources due to toxic compounds released by industries are increasing usage of industrial wastewater treatment services. Increased water recycling and reuse programs to reduce discharge needs, growing implementation of solid waste reduction, and rising waste-to-energy projects are contributing to market revenue growth.
Sustainable Development Goals (SDGs)
- SDG 6: Clean Water and Sanitation
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 11: Sustainable Cities and Communities
- SDG 12: Responsible Consumption and Production
- SDG 13: Climate Action
Key Factors Driving Market Growth
- Rapid industrial growth
- Shrinking water resources
- Rapid population growth
- Contamination of water resources due to toxic compounds released by industries
- Increased water recycling and reuse programs
- Implementation of solid waste reduction
- Rising waste-to-energy projects
Advancements in Industrial Wastewater Treatment Services
Moreover, increasing use of advanced wastewater treatment technologies and increasing initiatives to minimize energy costs associated with wastewater treatment are additional factors boosting further advancements in industrial wastewater treatment services. Rise in chronic health conditions due to the release of toxic chemicals such as mercury and lead from various industries is expected to drive the utilization of industrial wastewater treatment services. Emergence of new wastewater treatment technologies such as membrane filtration systems, automatic variable filtration, and advanced oxidation processes to eliminate challenging contaminants from wastewater is expected to drive demand for industrial wastewater treatment services.
Market Research Details
- Market size in 2020: USD 19.45 Billion
- CAGR (2021–2028): 6.3%
- Revenue forecast in 2032: USD 40.48 Billion
- Base year for estimation: 2020
- Historical data: 2018–2019
- Forecast period: 2021–2028
Key Companies and Competitive Landscape
The global industrial wastewater treatment service market is consolidated with a limited number of players accounting for the majority of market revenue. Companies are focusing on strategic expansions into untapped markets and on research and development initiatives to develop more enhanced industrial wastewater treatment services in order to secure and maintain a robust position in the rapidly growing market. Some prominent players operating in the industrial wastewater treatment service market are:
- Veolia
- SUEZ
- Xylem Inc.
- Ecolab
- Thermax Group
- Pentair
- Evoqua Water Technologies
- WOG Technologies
- Golder Associates
- SWA Water Australia
Strategic Development
In September 2019, Veolia, which is a leader in optimized resource management, announced that its Middle East subsidiary had secured a USD 63 million management contract from Kuwait Integrated Petroleum Industries Company (Kipic). The contract was for a wastewater project within its AI Zour facility, which is one of the largest refinery complexes in the world under development.
Market Highlights
- Filtration segment accounted for the largest revenue share in 2020. Rising need to remove a wide range of challenging contaminants from industrial wastewater is resulting in increasing utilization of advanced filtration solutions and processes.
- Operation & process control segment revenue is expected to expand at a rapid CAGR during the forecast period. Industries are increasingly adopting operation & process control services to ensure efficient functioning of wastewater treatment plants.
- Power generation segment accounted for a significantly high revenue share in the industrial wastewater treatment service market in 2020. Increasing adoption of wastewater treatment services in the power generation industry to minimize wastewater generation resulting from power generation processes is driving revenue growth of this segment.
- Asia Pacific accounted for the largest revenue share contribution to the global industrial wastewater treatment service market in 2020. Rising need to remove contaminants and ensure that industries are fully compliant with regional industrial wastewater treatment standards is expected to boost utilization of industrial wastewater treatment services.
Conclusion
The industrial wastewater treatment service market is experiencing significant growth due to increasing contaminants released from industries, rapid population growth, rising industrial activities, and rapidly shrinking freshwater sources. The market is expected to
SDGs, Targets, and Indicators Relevant to the Article
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 6: Clean Water and Sanitation
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 12: Responsible Consumption and Production
- SDG 13: Climate Action
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 6.3: By 2030, improve water quality by reducing pollution, eliminating dumping and minimizing release of hazardous chemicals and materials.
- SDG 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes.
- SDG 12.4: By 2020, achieve the environmentally sound management of chemicals and all wastes throughout their life cycle, in accordance with agreed international frameworks, and significantly reduce their release to air, water and soil in order to minimize their adverse impacts on human health and the environment.
- SDG 13.3: Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
Yes, the following indicators can be used to measure progress towards the identified targets:
- Reduction in the release of toxic compounds by industries
- Increase in water recycling and reuse programs
- Implementation of solid waste reduction measures
- Rise in waste-to-energy projects
- Adoption of advanced wastewater treatment technologies
- Reduction in the release of toxic chemicals such as mercury and lead
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 6: Clean Water and Sanitation | 6.3: By 2030, improve water quality by reducing pollution, eliminating dumping and minimizing release of hazardous chemicals and materials. | – Reduction in the release of toxic compounds by industries – Increase in water recycling and reuse programs |
| SDG 9: Industry, Innovation, and Infrastructure | 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes. | – Implementation of solid waste reduction measures – Rise in waste-to-energy projects – Adoption of advanced wastewater treatment technologies |
| SDG 12: Responsible Consumption and Production | 12.4: By 2020, achieve the environmentally sound management of chemicals and all wastes throughout their life cycle, in accordance with agreed international frameworks, and significantly reduce their release to air, water and soil in order to minimize their adverse impacts on human health and the environment. | – Reduction in the release of toxic chemicals such as mercury and lead |
| SDG 13: Climate Action | 13.3: Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning. | N/A |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: finance.yahoo.com
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