Increase in Investment in Industrial Wastewater Treatment Technology Market
- Rise in industrialization and rapid population growth over the last few years have boosted the demand for fresh water
- Scarcity of freshwater can be linked to inefficient management of wastewater. Increase in concerns regarding excess depletion of freshwater resources has triggered investments in wastewater treatment systems. Governments of several nations are beginning to implement strict regulations to maximize investments in industrial wastewater treatment process.
- Industries with high water intake need to adhere to the wastewater treatment guidelines and parameters. Companies have begun investing in wastewater treatment technologies such as zero liquid discharge, as the same water can be recycled and reused in industrial processes and utilities.
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Incorporation of Innovative Technologies for Industrial Wastewater Treatment
- Rise in concerns regarding freshwater scarcity is a key factor expected to boost the demand for industrial wastewater treatment technologies
- Governments and regulatory authorities are implementing stringent regulations regarding wastewater treatment. Government of several nations are providing tax benefits and incentives to promote risk-free adoption of wastewater treatment technologies in the industrial sector. This is boosting the industrial wastewater treatment technology market.
- Industries such as oil & gas and food & beverages are incorporating innovative technologies and solutions to prevent the disposal of untreated water into rivers/oceans in order to avoid hefty penalties imposed by governments.
High Capital Investment and Operating Cost of Industrial Wastewater Treatment Plant to Hamper Market
- Governments and regulatory authorities have mandated the implementation of industrial wastewater treatment systems. However, industries are reluctant to implement these systems due to the high capital investment.
- The operational cost of an industrial wastewater treatment plant is very high. This can increase the overall operational expenditure of a company. Thus, high operational cost is restraining the industrial wastewater treatment technology market.
- Lack of infrastructure in developing regions has largely deteriorated the quality of water in many parts of these regions. This is another key restraint of the market.
Global Industrial Wastewater Treatment Technology: Segmentation
- The global industrial wastewater treatment technology can be segmented based on method, end-use, and region
- Based on method, the global industrial wastewater treatment technology market can be divided into physical, biological, and chemical. The physical segment can be sub-segmented into microfiltration, ultrafiltration, nanofiltration, and reverse osmosis; while the biological segment can be bifurcated into aerobic and anaerobic. The chemical segment can be sub-divided into precipitation, coagulation, oxidation and advanced oxidation, ion exchange, chemical stabilization, and others.
- In terms of end-user, the market can be segmented into: thermal, power, pulp & paper, textile, food & beverages, pharmaceutical, and others.
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Asia Pacific Dominates Global Industrial https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=71226Wastewater Treatment Technology Market
- Asia Pacific dominated the global industrial wastewater treatment technology market in 2018. Implementation of strict environmental policies regarding wastewater and concerns regarding depletion of freshwater resources are estimated to encourage companies/service providers involved in wastewater treatment technologies in the next few years. China is a major country in the industrial wastewater treatment technology market in Asia Pacific.
- The industrial wastewater treatment technology market in Asia Pacific is projected to expand at a substantial pace during the forecast period. This can be ascribed to the increase in industrial activities, rise in water pollution, and growth in concerns regarding long-term availability of freshwater resources.
Key Players in Market
Prominent players operating in the global industrial wastewater treatment technology market include:
- Veolia Water Technologies
- GE Water and Process Technologies
- Evoqua Water Technologies
- Calgon Carbon
- WesTech Engineering, Inc.
- Condorchem Envitech
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