The global secondary water and wastewater treatment equipment market size is expected to reach USD 30.05 billion by 2027, expanding at a CAGR of 3.9%, according to a new report by Grand View Research, Inc. Rising demand for wastewater treatment plants owing to stringent regulations is expected to drive the market growth over the forecast period.
Growing concerns over environmental degradation and water pollution coupled with stringent regulations pertaining to wastewater discharges are likely to benefit market growth. In addition, increasing efforts to improve the wastewater treatment coverage, especially in the developing countries is anticipated to further propel the market expansion.
A growing requirement for upgrading the existing aging infrastructure, most notably in the developed economies, is expected to open new avenues for the market growth over the forecast period. Furthermore, the emergence of new pollutants is likely to drive the demand for more advanced and efficient treatment solutions, thereby benefitting the overall market growth.
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Rising water scarcity, coupled with growing focus conserving and extending the availability of existing water supplies, is expected to drive the demand for wastewater reuse as a viable option for integrated water management. This, in turn, is anticipated to have a positive impact on the overall demand for secondary water and wastewater treatment equipment in the forthcoming years.
Asia Pacific dominated the market and accounted for 35.5% share of global revenue in 2019, on account of growing population coupled with rapid urbanization, and industrial growth in developing countries in the region such as China, and India has also increased the volume of wastewater generated thereby augmenting the need for more wastewater treatment capacities/ plants. This, in turn, is anticipated to benefit the overall market growth in the region.
The secondary water and wastewater treatment equipment demand in North America is expected to witness expand at a CAGR of 2.9% over the forecast period. Stringent regulations for discharges from municipal and industrial sectors coupled with ongoing investments within the oil and gas, chemical, and petrochemical industries are expected to drive the demand in the forthcoming years.
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