Water Market: Overview
Water is an essential element and is utilized in all sectors. The global water market provides water for residential purposes, commercial purposes, industrial purposes, and much more. The industrial sector itself comprises many industries in it such as power generation, pulp and paper, refining and petrochemicals, food and beverages, microelectronics, oil and gas, pharmaceutical, and mining. Every sector requires water which is fresh, but a requirement is more than availability. According to the data from UN Water, in developing countries, 70% of industrial waste is dumped untreated into waters where they pollute the usable water supply; every day, 2 million tons of human waste are disposed of in water courses. Thus, recycling wastewater becomes important. The scarcity of freshwater is compelling the municipal and industrial sectors to invest in the reusability of wastewater. The commonly used methods for treating wastewater are the separation of oil and water, removal of suspended solids and dissolved solids, biological treatment, and oxidation and disinfection. Increasing investments on these methodologies have greatly impacted the market growth in a positive way.
Water Market: Segmentation
The global water market can be segmented based on its end-use and regions. On the basis of end-use, the global market is categorized into residential, commercial, agricultural, and industrial sectors. Further, the residential segment is sub-segmented into indoor and outdoor purposes. Based on the regions, the global water market is classified into Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa.
Water Market: Growth Factors
The main reason for the global water market to grow is urbanization and industrialization. Developing countries are main regions where the market is growing owing to the above-mentioned reasons. The rapid increase in population and growth in the economy are factors boosting the water market growth. The requirement of fresh water has increased the necessity for using the available water carefully. Not only developing countries are contributing to the market growth but developed nations have also added their share. Smart water solutions have gained importance in the recent years owing to water scarcity, leak detection, and network efficiency. In the countries where agriculture is still the main occupation, the demand for the water market is high in these regions. The commercial sectors such as a hospital, hotels, and others are the end-users driving the global water market growth.
Water Market: Regional Analysis
Asia Pacific dominates the global water market mainly owing to the growth in the manufacturing and construction industries, which in turn has increased the demand for water. Growing population in this region also plays a vital role in the water market growth. Furthermore, countries such as India, China, and Japan are supporting the water market growth as the government has made large investments in wastewater treatment processes in order to encourage urbanization. Bottled water and increasing use of water in different sectors are other factors driving the European water market growth. The quality of water is poor in regions such as the Middle East and North Africa; hence the scope for the growth of the water market is positive in these regions.
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Water Market: Competitive Players
Some of the major players operating in the global water market are ITT Corporation, Xylem Inc., United Utilities Group PLC, American Water, Nalco Water, The Danaher Corporation, Suez Environnement S.A., and Siemens Water Technologies Corp.