The global water treatment market is projected to grow by 6% in 2019 and reach a total valuation of approx. USD 48,951.8M from approx. USD 46,162.7M in 2018 as per the recent market intelligence report. Demand for potable water, changing government regulations, and awareness of the negative impact of untreated water are tipped to be the primary growth drivers of the global water treatment market.
According to the report, several key drivers are expected to fuel the growth of the global water treatment market during the forecast period. The notable driving forces include growing awareness of the hazardous effects of impure water consumption, steady surge in demand for freshwater, adoption of water treatment systems, and demand for quality water from the domestic and industrial sector.
The increase in the adoption of new technologies along with a focus on R&D will play an instrumental role in shaping the overall growth of the water treatment market in 2019 and the coming years.
In addition, existing players pushing for product innovation, collaborations with EPC companies and local municipalities, development of patented technologies and high capacity treatment systems are likely to gain a competitive edge in the current industry landscape.
In the current scenario, North America and MEA are expected to dominate the global water treatment market in terms of market share. However, the report suggests that the market in East Asia will witness a commendable growth through the forecast period 2019-2029.
According to the report, in the current scenario, the high demand for chemical-free water is projected to be a key driver of the global water treatment market. Government regulations revolving around water treatment policies are expected to focus on the impact of untreated water on the environment.
This study profiles the current and potential opportunities in the water treatment market and outlines that the market is likely to grow at a value of ~7.4 % CAGR over the forecast period.