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Increasing urbanization and continuously rising population majorly drives the growth of global wastewater treatment market over the forecast period. As per Population Reference Bureau (PRB), it is expected that population will grow by 29% during 2020-2050, furthermore, unplanned urbanization is a prime reason for such a scenario that in turn leads to an increase in deployment of wastewater treatment plants. Due to rising discharge of municipal sewage and urban drainage in the catchment areas of the river, the impact on water quality is more pronounced in these areas. This, in turn, affects aquatic life and agriculture, and therefore the people who live in these areas.
Global wastewater treatment market is expected to expand and witness a growth of US$ 462.49 Bn by the end of 2030 at a CAGR of 7.41%.
The wastewater treatment market growth is supported by several growth factors and opportunities. As regulatory policies promoting reuse of wastewater and increasing adoption of reduce-recycle-reuse concept. In China, Water Pollution prevention and Control law (WPPCL) and Action Plan by MEP (Ministry of Environment Protection) for prevention of water pollution with Integrated Wastewater Discharge Standard.
Global Wastewater Treatment Market by Application
The global wastewater treatment market is segmented into different segments. Based on application segment, municipal segment dominates the global marketplace with a market share of 62% and is predicted to grow at a faster compound annual growth rate than industrial segment.
Municipal and industrial water waste were pooled and routed to a single drain for treatment throughout the first part of the twentieth century. The EPA or a state acting as the pre-treatment Approval Authority must approve these programs. A pre-treatment program has been designed and approved by over 1,500 municipal treatment plants.
Regional Analysis of the Global Wastewater Treatment Market
As per the researcher, Asia Pacific wastewater treatment market is predicted to be the fastest-growing market throughout the forecast period. The APAC region includes around 61% of the world's population, and the region's manufacturing and processing industries are quickly expanding. The APAC region has the largest wastewater treatment market, with China being the most important market with tremendous growth potential. The primary drivers for this market are rising disposable incomes, development of new technologies & equipment and rising living standards in emerging economies in APAC.
In 2021, North America wastewater treatment market holds the highest market share in the global marketplace across the globe by 38.50%. As the increased demand for high-capacity power generation to support regional industrial growth has boosted demand for demineralized water and adoption of stringent regulations towards environment is resulting in market expansion.
Key Players in Global Wastewater Treatment Market
As per the report published in Astute Analytica, the global wastewater treatment market is observed to be oligopoly in nature, and it is expected to stay same for the long term. As the threat of new players is low in the market.
Key players in the global wastewater treatment market are BASF, DoW Chemical Company, 3M Corp, and DuPont having a cumulative ratio of around 62%. Top 18 companies in the market hold around 81.86% market share. Rest is captured by other local players.
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