Industrial Wastewater Treatment Service (Power, Oil & Gas, Pulp & Paper) Market - Global Forecast To 2024 - ResearchAndMarkets.com
The "Industrial
Wastewater Treatment Service Market by Service Type (Design,
Installation, Operations, Maintenance), Treatment Method (Filtration,
Disinfection, Desalination), End User (Power, Oil & Gas, Pulp & Paper),
Region - Global Forecast To 2024" report has been added to ResearchAndMarkets.com's
offering.
The Global Industrial Wastewater Treatment Service Market is Projected
to Reach USD 28.0 Billion by 2024 from an Estimated USD 20.8 Billion in
2019, at a CAGR of 6.1%
This growth can be attributed to factors such as growth in the power
generation sector, water-intensive processes in the oil & gas, textile,
and pulp & paper industries, and increasing rate of industrialization
and urbanization. However, the fact that wastewater treatment is a very
costly process and involves a huge amount of capital investment acts as
the only major threat to this industry.
The operation & process control segment is expected to be
the fastest growing market from 2019 to 2024
The operation & process control segment, by service type, is estimated
to be the largest and the fastest growing segment during the forecast
period, as this is the main process that generates industrial
wastewater. The processes involved in an industry mostly determine the
quality and quantity of wastewater generated.
Thus, if the process optimization happens actively and accurately, the
requirement for maintenance & repair services of plants and related
equipment would be minimized. Thus, the requirement for the maintenance
& repair services segment would be comparatively lesser compared to the
operation & process control segment during the forecast period.
The filtration segment, by treatment method, is expected to
be the largest market from 2019 to 2024
The desalination segment is expected to be the fastest growing segment,
and the filtration segment is expected to hold the largest market share
during the forecast period. This is because filtration consists of UV
filtration, which is a costly process compared to Chlorine and Ozone
processes. Chlorine and Ozone processes are fairly cost intensive,
which, in turn, increases the cost of filtration.
Filtration plays an important role in the natural treatment of
industrial wastewater treatment as it is a basic treatment method.
Wastewater, which has been softened or treated through iron and
manganese oxidation, requires filtration to remove floc created by
coagulation or oxidation processes. Since industrial wastewater is
subject to numerous dissolved particles and chemical salts and does not
undergo natural filtration, it must be filtered to remove particles and
impurities. Such properties of filtration ensure that filtration would
be the most effective and cost-intensive treatment process in the coming
time.
Asia Pacific: The largest industrial wastewater treatment
service market
The Asia Pacific region is projected to be the largest industrial
wastewater treatment service market by 2024. Countries such as China,
India, Japan, and South Korea are among the major countries that are
considered as the main industrial center points generating a large
amount of industrial wastewater. Over the past few years, this region
has witnessed rapid economic development.
Also, the growth of the power generation sector in this region results
in an increase in the wastewater generated, which, in turn, results in
an increase in the industrial wastewater treatment service market. The
pulp & paper industry in countries such as China, South Korea, Japan,
and India is growing at a humongous rate, thereby driving the industrial
wastewater treatment service market.
Market Dynamics
Drivers
-
Increasing Environmental Regulations
-
Initiatives of Zero Liquid Discharge
-
Expanding Global Manufacturing Industry
Restraints
-
Enormously High Cost of Wastewater Treatment Technologies
Opportunities
-
Rising Population and Rapid Urbanization in the Emerging Economies
-
Adopting A More Sustainable Approach Through Initiatives of
Reduce-Recycle-Reuse
-
Proper Environmental Management Will Help Curb Risks of Environmental
Non-compliance
Challenges
-
Lack of Required Techno-Commercial Awareness
Companies Mentioned
-
Aries Chemical
-
Ecolab
-
Evoqua Water Technologies
-
Golder Associates
-
Pentair
-
SUEZ
-
SWA Water Holdings
-
Terrapure Environmental
-
Thermax Group
-
Veolia
-
WOG Group
-
Xylem
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