CHICAGO, May 29, 2019 /PRNewswire/ -- According to the new market research report "Industrial Wastewater Treatment Service Market by Service Type (Design, Installation, Operations, Maintenance), Treatment Method (Filtration, Disinfection, Desalination), End User (Power, Oil & Gas, Pulp & Paper), Region - Global Forecast To 2024", published by MarketsandMarkets™, the market is projected to reach USD 28.0 billion by 2024 from an estimated USD 20.8 billion in 2019, at a CAGR of 6.1% during the forecast period. This growth can be attributed to factors such as growth in water intensive industries such as pulp & paper and textile in the developing regions. The dyeing process in the textile industry is a major water intensive process, and it has a massive water requirement. Similarly, the requirement for treating the wastewater generated is expected to rise massively with the stringent environmental regulations across several nations.
The power generation segment is expected to be the largest Industrial Wastewater Treatment Service Market, by end-user, during the forecast period.
The power generation segment is estimated to dominate the Industrial Wastewater Treatment Service Market in 2019 and is projected to be the largest market during the forecast period. This is mainly because of a significant increase in the requirement of power generation, especially in developing regions such as Asia Pacific. For instance, countries such as China, India, Japan, and South Korea are ensuring that the power requirement of the people is addressed adequately through various schemes. The growing demand is causing an increase in the number of power generation units to cater to this demand, resulting in a rise in wastewater generation. Thus, there is a rising need for treating the wastewater generated from these power generation units.
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The filtration segment is expected to be the fastest growing Industrial Wastewater Treatment Service Market, by treatment method, during the forecast period.
The treatment method segment deals with the treatment methods and processes of the Industrial Wastewater Treatment Service Market. Filtration is usually needed before sanitation treatments, to remove particles that can distribute sediment, pathogens, and algae. The filtration segment is expected to hold the largest market share during the forecast period. The major types of filtration processes include chlorine filtration, Ultraviolet (UV) filtration, and Ozone filtration. Among these processes, UV filtration is a hugely cost intensive process, followed by the Ozone filtration process. These processes' overall cost is more than that of processes such as disinfection and desalination. Thus, the filtration process is expected to dominate this segment due to the aforementioned factors.
Asia Pacific: The leading Industrial Wastewater Treatment Service Market.
In this report, the Industrial Wastewater Treatment Service Market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is estimated to dominate the global Industrial Wastewater Treatment Service Market in 2019, owing to the growth in the industrial, manufacturing, textile, pulp & paper, and power generation industries in countries such as China, India, and Japan. These are rigorous water intensive industries and simultaneously eject a lot of industrial wastewater. Thus, a major scope of industrial wastewater exists in these regions.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Industrial Wastewater Treatment Service Market. Some of the key players are Veolia (France), SUEZ (France), Xylem (US), Thermax Group (India), Ecolab (US), Pentair (UK), Evoqua Water Technologies (US), WOG Group (US), SWA Water Holdings (Australia), Aries Chemical (US), Terrapure Environmental (Canada), and Golder Associates (Canada). The leading players are adopting various strategies to increase their share in the Industrial Wastewater Treatment Service Market.
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