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Global Packaged Water Treatment System Market Was Valued At US$ XX Bn In 2019 And It Is Expected To Reach More Than US$ 40.24 Bn By 2028, Likely To Grow With The CAGR Of 8.2% During The Forecast Period.
Packaged water treatment systems are used to make water drinkable to various levels. Water treatment systems simply remove the suspended particles from the water and improve the water's overall appearance, taste, odor, and transparency of water. Each system has its benefits and deficiencies and one system does not cover all the requirements of the market.
The market is anticipated to witness substantial growth over the forecast period, owing to the increasing demand for freshwater due to the growing population, urbanization, and development. In addition, stringent Governing and Sustainability Mandates Regarding the Environment are further contributing to market growth.
Rising Urbanization and Rapidly Growing Population Are Expected To Fuel The Market Demand In The Near Future
The demand for drinkable water is witnessing an exponential increase every year, with a rising population and pollution levels. Rivers and lakes that have conventionally been sources of drinking water for people are also being affected by alarming levels of pollution. Water drawn from any source needs to be purified before drinking to avoid contracting diseases such as cholera and giardiasis. Water treatment systems play an important role in safeguarding human life from such illnesses.
While growing health awareness in most regions is also help to enhance market growth over the forecast period.
Government Regulations And Increased Investments In Wastewater Treatment Will Drive The Packaged Water Treatment System Market
The Safe Drinking Water Act of 1974, laid down by the U.S. Environment Protection Agency, sets standards for the quality of drinking water provided. The agency, along with its partners, implements numerous financial and technical programs to safeguard residents from the imminent threat of diseases. Such trends have benefited the U.S. market in the recent past and will continue to do so over the coming years.
Technological advancement in packaged water and wastewater treatment systems coupled with investment in wastewater treatment is expected to create significant growth opportunities in the Packaged Water Treatment System market over the forecast period. For instance, the European Investment Bank provided about US$ 2.8 billion in 2019 for water-related projects. Similarly, as per the World Bank Organization, the development bank of Latin America (CAF) estimated that during 2010-2030, US$ 80 Bn will be spent on sewage infrastructure and wastewater treatment in Latin America.
However, unstable market & economic conditions lead to low investment in packaged water treatment system by industries and governments, which is a restraint for the market over the forecast period of 2019-2028.
The Municipal Wastewater Treatment Segment Is Expected To Witness Significant Growth During The Forecast Period.
Municipal wastewater treatment is used in various cities and towns by housing estates and domestic & public service enterprises. The volume of wastewater generation has increased rapidly due to the growing population and urbanization in most parts of the world. To make reuse of wastewater and fulfill the water needs of the urban as well as the rural population, municipal wastewater treatment is being utilized globally.
While the extended aeration and reverse osmosis segments contributed a major share to the global packaged water & wastewater treatment. Relatively lower initial costs and investments involved in installation the extended aeration is expected to be the fastest-growing application segment of the Packaged Water Treatment System market. It is followed by reverse osmosis. The sustainability mandate and stringent government regulations concerning the environment are paving way for substitute technology to chemical-based water and wastewater treatment systems like extended aeration reverse osmosis and others, which further boosts the market for these technologies.
The Middle East & Africa Is Expected To Be The Fastest-Growing Market For The Packaged Water Treatment System
Increasing demand for freshwater by industries and the high-quality living standards of the Middle East region and lack of surface/underground freshwater sources makes it imperative to reclaim wastewater. To meet the need for freshwater, packaged wastewater treatment is used to treat wastewater and make water available for reuse.
However, advancement in technology with the growing population and urbanization and rising health awareness in the Asia Pacific region lead to significant growth in the region.
North America Expected To Have The Largest Market Share In The Packaged Water Treatment System Market
Global multinationals dominate the industry and are majorly concentrated in North America and Europe. The top manufacturers cover over 70.0% of the global market share, with U.S. and China accounting for substantial export volumes. Numerous water treatment system manufacturers are shifting focus toward developing systems and units that can function without constant electricity supply so that these units can be used in remote and rural areas as well. Manufacturers are also paying close attention to formulating new business strategies to consolidate their market position. Companies are investing heavily in research and development and in introducing innovative designs with enhanced capacities.
Some of the Key players in the global packaged water treatment system market include Veolia Water Technologies (France),RWL Water (U.S.), Westech Engineering Inc. (U.S.), GE Water & Process Technologies (U.S.),Smith & Loveless Inc. (U.S.), Napier-Reid Ltd. (Canada), WPL International (U.K.), Enviroquip (U.S.),CST Wastewater Solutions Inc. (Australia), and Corix Water Systems (Canada).
Packaged Water Treatment System Market Key segments:
Packaged Water Treatment System Market, By Product Type
- Membrane Bioreactor (MBR)
- Reverse Osmosis (RO)
- Moving Bed Biofilm Reactor (MBBR)
- Extended Aeration
- Sequential Batch Reactor (SBR)
Packaged Water Treatment System Market, By Application
- Industrial Wastewater Treatment
- Municipal Wastewater Treatment
- Drinking Water Treatment
Packaged Water Treatment System Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America