Global Water Treatment Market Insights and Forecast (2023-2028): Integration of AI, Growing Demand for IoT Solutions and Increasing Adoption of Nanotechnology – ResearchAndMarkets.com
Global Water Treatment Market Insights and Forecast (2023-2028 ... Business Wire
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Global Water Treatment Market: Insights and Forecast (2023-2028)
Introduction
The Global Water Treatment Market (by Application, Product and Services, Equipment Type, & Region): Insights and Forecast (2023-2028) report provides an in-depth analysis of the water treatment market, highlighting its growth drivers, challenges, and trends. The report predicts that the market will reach US$325.41 billion in 2023, with a CAGR of 7.20% over the projected period.
Sustainable Development Goals
The Global Water Treatment Market aligns with several Sustainable Development Goals (SDGs) set by the United Nations. These goals include:
- 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
Segments Covered
The report provides insights into the water treatment market through various segments:
By Application:
- Municipal
- Industrial
The municipal water treatment market holds the maximum share of the global water treatment market due to factors such as increasing population growth, rapid urbanization, and rising water demand in the agricultural sector. Municipal water companies are also prioritizing actions to address water quality and scarcity issues.
By Product and Services:
- Equipment
- Services
- Chemicals
The services water treatment market is the largest and fastest-growing segment, driven by increasing manufacturing activities, rapid urbanization, and the need for maintenance of existing sewage treatment plants.
By Equipment Type:
- Membrane Separation
- Biological
- Sludge
- Disinfection
- Others
The membrane separation water treatment equipment market is the largest and fastest-growing segment, driven by the rising adoption of membrane separation technology in various industries and the increasing implementation of the reverse osmosis pre-filtration process.
Top Impacting Factors
The growth of the global water treatment market is influenced by several factors:
Growth Drivers:
- Increasing Demand from End User Industries
- Water Scarcity
- Climate Change
- Stringent Wastewater Government Regulations
Challenges:
- High Installation, Equipment and Operations Cost
- Lack of Infrastructure Facilities
Trends:
- Integration of Artificial Intelligence (AI)
- Growing Demand for Internet of Things (IoT) Solutions
- Rapid Advancements in Water Treatment Technologies
- Increasing Adoption of Nanotechnology
Driver, Challenge, and Trend Analysis
Driver: Water Scarcity
The increasing demand for water resources, coupled with severe water scarcity in many regions, drives the need for water treatment solutions. With over 40% of the global population residing in regions marked under critical water stress and limited freshwater availability, the conversion of seawater to freshwater through desalination processes becomes crucial. Rising concerns regarding groundwater depletion and low availability of naturally available drinking water further contribute to the growth of the global water treatment market.
Challenge: High Installation, Equipment and Operations Cost
Water treatment plants require high installation, operational, and annual costs. The complexity of operating these plants, along with the need for specialized skills and expertise, increases labor intensity and operational costs. Additionally, water treatment processes are capital-intensive, making it difficult for companies to generate sufficient profit margins. The substantial investments needed to build water treatment plants impede the growth of the global water treatment market.
Trend: Integration of Artificial Intelligence (AI)
The integration of artificial intelligence (AI) in water treatment processes offers several benefits, including higher automation, reduced operational costs, and optimized use of chemicals. AI models can predict the performance of different absorbents for pollutant removal from water, reducing water contamination and scarcity. The increasing integration of AI in water treatment processes is expected to boost the growth of the global water treatment market.
Analysis of Key Players
The market for water treatment is fragmented, with numerous international, regional, and local players. Key players in the market are adopting technologies such as AI, advanced diagnostics, and nanotechnology to build effective water treatment processes. Some of the key players mentioned in the report include Veolia Environnement, DuPont de Nemours, Xylem, 3M, Pentair, Ecolab, Kemira, BASF, DOW, Kurita Water Industries, Kingspan Group, United Utilities Group, SNF, Hydro International UK, and BioMicrobics.
For more information about this report, visit https://www.researchandmarkets.com/r/losojm.
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