Water Treatment Market size 2022 New Technological Development Projecting Massive Growth till 2029

According to a recent report published by Future Market Insights, the global water treatment market is expected to grow by 6% in 2019, reaching US$48,951.8 million from US$46,162.7 million in 2018. Demand for drinking water, changing government regulations, and awareness of the adverse effects of untreated water  are considered to be the major growth drivers for the global water treatment market size .

According to the report, several key drivers are expected to boost the growth of the global water treatment market during the forecast period. Notable drivers include growing awareness of the dangerous impacts of impure water consumption, steady surge in demand for fresh water, adoption of water treatment systems, and demand for quality water from domestic and industrial sectors. increase.

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Increased adoption of new technologies with an emphasis on research and development will play a key role in shaping the overall growth of the water treatment market in 2019 and in the years to come. In addition, the established players operating in the water treatment market are likely to increase investment in research and development activities, focus on developing innovative water treatment systems, and provide cost-effective solutions.

In addition, incumbent players pushing product innovation, collaboration with EPC companies and municipalities, developing patented technology, and high-volume processing systems are likely to gain a competitive edge in the current industry landscape.

East Asia has emerged as a promising region for market growth

In the current scenario, North America and MEA are expected to dominate the global water treatment market in terms of market share. However, the report suggests that the East Asian market will achieve admirable growth throughout the forecast period of 2019-2029. Currently, the market value of the water treatment market in East Asia is ~$10,065.6 million and is expected to grow at a CAGR of around 9.2% throughout the forecast period, reaching $24,376.9 million by the end of 2029. This growth is projected to be driven primarily by a focus on improving water quality and balancing supply and demand ratios.

In addition, the economies of East Asian countries such as China, South Korea, and Japan have achieved steady growth in recent years. Macroeconomic parameters such as rapid urbanization, population growth and aggressive investment patterns are increasing investments in residential and municipal projects in the region. Other factors, such as the lack of quality water treatment infrastructure and growing water scarcity, have significantly increased spending to upgrade water treatment facilities in the region.

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Evolving Government Regulations Expected to Shape the Future of Water Treatment

According to FMI’s report, high demand for chemical-free water is projected to be a major driver of the global water treatment market in the current scenario. Government regulations on water treatment policy are expected to focus on the environmental impact of untreated water. Evolving government regulations have forced market players to focus on the development of environmentally friendly water through innovation and adoption of new technologies.

According to FMI analysts, “The growing demand and focus on chemical-free water is certainly opening up new opportunities for existing market players. It will lead to an increase in process water treatment systems.”

In 2019, by application, process water treatment had a high value share of around 47.9% followed by waste water treatment (30.5%). Further, the trend is anticipated to continue throughout the forecast period 2019-2029 driven primarily due to the stringent government regulations.

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