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Expanding Capabilities and Service Network Key to Capturing the Transforming Market
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The Southeast Asian (SEA) industrial water solutions market, comprising of water and wastewater treatment solutions for industries and associated services such as design & engineering, operation and maintenance, and spare parts, is growing steadily due to the region-wide economic development. The market is likely to grow at a compound annual growth rate (CAGR) of 8.8% between 2017 and 2022, propelled by the strong industrial growth across SEA, tightening regulations surrounding water use and discharge, the emergence of difficult-to-treat process waters in Food and Beverage (F&B) and Electrical and Electronics (E&E) industries and the volatility and scarcity of water resources across the rapidly urbanizing SEA region. Apart from offering an analysis of market growth factors, this study offers additional insights into the competitive landscape, an analysis of country attractiveness for further investment, and insights into broader policy and technology trends influencing the industrial water solutions market. The industrial water solutions market in SEA is still nascent with a highly fragmented market. Water market leaders from Japan, North America, and Europe have already begun capitalizing on the largely underdeveloped market. Key companies in the region include Veolia, Suez, Evoqua, Hyflux, Swing, Fuji Enviro, ch2m Hill, Darco, and number of smaller market disruptors and agitators. Although Singapore and Malaysia are currently the markets with the most activity, developing markets such as Indonesia, Vietnam, and the Philippines are expected to offer strong growth opportunities in the coming years. In terms of market segment performance, F&B and palm oil industries will offer the strongest short-term growth opportunities, while the E&E segment will be a good long-term bet.
This study covers revenue from sales of industrial water and wastewater equipment and revenue from associated services segments such as design and engineering and maintenance and spares. The market definition excludes revenue from chemical water treatment (WT) processes and services. The market trends have been analyzed for the study period 2015 to 2022, with the base year being 2017. The market is segmented by the key product and service segments—water and wastewater treatment equipment, associated design and engineering of treatment plants, and after-sales maintenance and spares and by the key regions –Singapore, Malaysia, Thailand, Indonesia, the Philippines, and Vietnam. In addition to the drivers and restraints in the market, this study also highlights the key market trends and strategies that market participants should consider to improve their performance in the region.
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