Fresh water, even though abundantly available, is a limited resource to humanity in the environment. The increasing need for mechanization and food safety have led to the excessive use of the available freshwater resources in the past century, without taking efforts to replenish them. This has created an ecological imbalance, as the wastewater produced from agriculture, industrial processes, and sewage was discarded into freshwater resources. The market had an estimated value of USD 5,342.73 million in 2017 and is expected to grow at a CAGR of 9.00% during the forecast period (2018-2023).
Water resources are depleting vigorously, which in return provides wide scope for the water treatment technology market to flourish. Stringent government regulations over industrial and municipal waste water disposal drive growth of water treatment technology market in the recycle and reuse procedures. Although water is the prime necessity, the cost of water also matters which ultimately gives rise to demand for cost-effective water treatment technologies. However, the growing population has a huge impact on this market.
The water treatment technology market is segmented on the basis of pumping systems, chemical, membrane systems, and geography. Based on the pumping systems, it is divided into pumps, valves & controls, and automation systems. In 2015, the valves & controls segment held the largest market share and is expected to maintain this trend during the forecast period. The United States dominates the market due to public awareness about clean water, high GDP, purchasing power parity and availability of optimum resources. China is the second largest market and is expected to be the fastest growing market in the forecast period
Desalination is a process to remove salt from saline water from sources such as river and sea in order to make it for direct and indirect consumption. As of 2015, there were over 17,000 desalination plants globally. Increasing energy-efficient processes trend is likely to create opportunities for hybrid & solar desalination. Filtration equipment used for municipal & industrial applications are available in a wide range, including table top portable filters to scale up specific systems as per the industry requirements.
Industrial processes that use water always need specific grades which are determined by measuring parameters such as conductivity, pH, dissolved oxygen content, temperature, and other dissolved compounds, namely microbial count and ammonia. Regions such as Europe and North America are anticipated to witness high demand for this method due to strict norms pertaining to industrial effluent water discharge into water bodies.
Some Prominent key participants include Doosan Heavy Industries & Co., Ion Exchange Ltd, Thermo Fisher Scientific Inc, Accepta Ltd, and Palintest Ltd.