The growing scarcity of freshwater, primarily on account of rapidly rising demand for water among the global population, lays the foundation stone to the evolution of the water market. The ever-rising need for reuse of water in municipal and industrial sectors in various countries has propelled the demand for wastewater treatment, and is one of the key factors driving the global water market. The growth is catalyzed by the burgeoning demand for water treatment in a wide range of industries that include food and beverages, power generation, mining, pharmaceutical, upstream oil and gas, pulp and paper, petrochemicals, and microelectronics.
A report by Transparency Market Research (TMR) presents a comprehensive overview of all such factors and trends impacting the prevailing market dynamics and expected to shape the emerging regional and global trajectories during the forecast period of 2016–2024. The report bears the title “Water Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024”.
The rapid pace with which urbanization and industrialization is taking place across the globe is a notable factor imparting momentum to the burgeoning demand for freshwater or potable water. Vast rise in spending on effluent treatment technologies in several industries in developing and developed countries is helping the water market expand substantially. The shrinking reserve of clean water in developed nations, coupled with the rising conditions of drought, has triggered the demand for desalination plants for treatment of brackish or even sea water. This is supported by rising investment on environmental-friendly desalination technologies, such as the usage of renewable sources of energies.
The global water market is also expected to reap huge gains from the rising adoption of smart water infrastructures and solutions, such as smart meters, in developing and developed regions. These technologies help utilities in active leak detection, estimate water scarcity, and bolster network efficiencies. In this context, the adoption of smart water grid in ensuring sustainable water supply is an exciting trend. Furthermore, the growing inclination toward outsourcing and the increased participation of private sectors in water supply infrastructures are trends immensely favoring the growth of the water market. Companies world over seeking to capitalize on this trend are making profuse investments in setting smart water grids in urban centers.
Developing and developed regions are expected to present vast lucrative avenues for the growth of the global water market. The pressing need for potable water in emerging economies and the extensive demand for clean water in power and utility sectors in developed countries is accentuating the market. Moreover, the notably rising demand for bottled water in developing and developed economies is also providing a marked impetus to the market growth. Increasing spending by industries on wastewater treatment and reuse facilities in several parts of developed countries is a trend catalyzing the growth of the water market.
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The competitive dynamics of the global water market is influenced by the strategies adopted by prominent players which include American Water, Siemens Water Technologies Corp., United Utilities Group PLC, Suez Environnement S.A., Xylem Inc., the Danaher Corporation, ITT Inc., and Nalco Holding Company.