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The Global Adoption of a Circular Economy, Enabled by Digitalization, Boosts Water and Wastewater Market Growth
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Water stress, climate change concerns, and the need for economic infrastructure are the key drivers for the global water and wastewater market. The circular economy is rapidly being adopted for its economic and environmental benefits. Digitalization has significantly bolstered its adoption in the water use cycle. Utilities across the world are focused on reducing non-revenue water and addressing water loss in the system. In addition, utilities and industries are heavily investing in water reclamation and re-use. Zero liquid discharge (ZLD) and resource recovery from sludge are gaining significant attention and are being widely adopted for their sustainable benefits (despite the high cost). End users are enhancing infrastructure resilience to drought and flooding through data analytics tools or software platforms and IIoT sensors, which provide process optimization, water/energy/chemical efficiency, and predictive maintenance capabilities.
For 2019, the study estimates market size at $743.77 billion. Predictions are made with 2018 as the base year. The study highlights key market predictions for 2019 for the industrial and the municipal segments. The total expenditure (ToTex) covers Design and Engineering, Operation and Maintenance, Water and Wastewater Technology, Process Control Management, and Chemicals. The study also presents key regional hotspots along with the growth outlook of key technologies for water, wastewater, and sludge treatment.
Frost & Sullivan has presented total municipal and industrial expenditure forecast for the following regions: Asia-Pacific, North America, Europe, the Middle East and Africa, and Latin America. Key market predictions for the municipal and the industrial segments for each of these regions, along with revenues, are presented. The study also offers a municipal and industrial technology outlook along with revenue for the technologies employed in water treatment, wastewater treatment, sludge management, and smart water management.
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