Water Treatment System Market to Reach US$ 128,230 Million by 2033, Sustaining a Steady 6.2% CAGR | Future Market Insights, Inc.
Water Treatment System Market to Reach US$ 128,230 Million by 2033, Sustaining a Steady 6.2% CAGR | Future Market Insights, Inc. Yahoo Finance
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Supportive Government Initiatives to Boost the Access to Safe Drinking Water Creating Opportunities for Suppliers of Water Treatment Systems
Future Market Insights Global and Consulting Pvt. Ltd.
Introduction
The global water treatment system market value is expected to rise from US$ 65,164 million in 2023 to US$ 1,28,230 million 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.
Sustainable Development Goals (SDGs)
- Goal 6: Clean Water and Sanitation
- Goal 9: Industry, Innovation, and Infrastructure
- Goal 11: Sustainable Cities and Communities
- Goal 12: Responsible Consumption and Production
- Goal 17: Partnerships for the Goals
Market Growth Drivers
- High demand for potable water due to concerns over consuming contaminants that can lead to health issues.
- Regulatory mandates to reduce certain contaminants to protect human health.
- Rising demand for water treatment systems in end-use sectors like municipalities, semiconductors, pharmaceuticals, and food and beverage.
- Government initiatives for increased access to clean drinking water.
Government Initiatives
- The Jal Jeevan Mission in India offers piped drinking water to around 150 million households by 2024.
- Government initiatives in India are fostering market growth.
Business Opportunities
- Suppliers of water quality monitoring systems
- Water meters
- Tertiary treatment technology
- Water management-related IT systems
Expert Opinion
“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.
Key Players and Developments
- In October 2023, BIO-UV Group launched the IO-SEA Mini Ballast Water Treatment System.
- In October 2023, The Springfield Water and Sewer Commission launched a new Backwash Facility.
- Coway Malaysia disclosed its recent water purifier model called Coway Kecil in December 2020.
About Future Market Insights (FMI)
Future Market Insights, Inc. offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for various industries. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Information
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
SDGs, Targets, and Indicators
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 11: Sustainable Cities and Communities
The article discusses the global water treatment system market and the increasing demand for safe drinking water. This aligns with SDG 6, which aims to ensure availability and sustainable management of water and sanitation for all. Additionally, the article mentions government initiatives and investments in water treatment technology, which are connected to SDG 9 (industry, innovation, and infrastructure) and SDG 11 (sustainable cities and communities).
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 6.1: By 2030, achieve universal and equitable access to safe and affordable drinking water for all.
- 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 11.1: By 2030, ensure access for all to adequate, safe, and affordable housing and basic services and upgrade slums.
Based on the article’s content, the targets mentioned above can be identified. The article highlights the increasing demand for safe drinking water and government initiatives to provide access to clean drinking water, which aligns with SDG 6.1. The investments in water treatment technology mentioned in the article also contribute to achieving SDG 9.4. Additionally, the focus on improving water and wastewater management in emerging economies, such as China and India, is connected to SDG 11.1.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Access to safe and affordable drinking water
- Investments in water treatment technology
- Improvement in water and wastewater management
The article mentions the initiation of the Jal Jeevan Mission in India, which aims to provide piped drinking water to around 150 million households by 2024. This can be considered as an indicator of progress towards achieving universal access to safe and affordable drinking water (SDG 6.1). The investments in water treatment technology and the focus on improving water and wastewater management in emerging economies can also be indicators of progress towards SDG 9.4 and SDG 11.1.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 6: Clean Water and Sanitation | 6.1: By 2030, achieve universal and equitable access to safe and affordable drinking water for all. | – Access to safe and affordable drinking water – Government initiatives for increased access to clean drinking water |
| 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. | – Investments in water treatment technology |
| SDG 11: Sustainable Cities and Communities | 11.1: By 2030, ensure access for all to adequate, safe, and affordable housing and basic services and upgrade slums. | – Improvement in water and wastewater management |
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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