The global Water and Wastewater treatment market to reach USD 674.72 billion by 2025 ( Source: Hexa Research), driven by the rising demand for freshwater for drinking, industrialization and agriculture. Treated water is suitable for various end-uses such as river flow maintenance, drinking, the supply of industrial water and irrigation.
Water & wastewater treatment processes such as softening, deodorization and purification make the water more useful and potable. Asia Pacific was the largest market accounting for 43.9% of the revenue share in 2016. It is anticipated to gain momentum over the forecast period on account of the growing demand for filtered water for various applications.
Water treatment systems are either installed at the point of use or the point of entry. However, as drinking water is a vital priority for the population, the residential sector contributes significantly towards the development of water treatment market as compared to the industrial and commercial sector.
Government of India has a target to provide Functional Household Tap Connection (FHTC) by 2024 of the order of 146 Million, through Jal Jivan Mission. The total outlay for this project is USD 51 billion between 2019 and 2024 in 700,000 villages.The global waste Management market is expected to reach USD 530 billion by 2025 growing at a rate of 6.0%. Increase in Environmental awareness, rapid Industrialization, surge in population, and raise in the urbanization foster the growth of global waste management market.
The existing Businesses in the WWM sector and new enterprises can utilize these platforms to create opportunities in this sector.