The global wastewater treatment equipment market is expected to grow at a CAGR of 4.9% from 2018 through 2022, according to a new report from the Business Research Company. Wastewater treatment materials include water filtration equipment, membrane equipment, thermal distillation equipment and evaporators, and disinfection equipment.
The global wastewater treatment equipment market was valued at about $28.06 billion in 2018 and is expected to grow to $34.03 billion by 2022. The Asia Pacific market is forecasted to register the highest CAGR during 2018-2023.
The increasing use of Internet of Things (IoT) sensors is the latest trend in the wastewater treatment equipment market, according to the report. Environmental sensors monitor air and/or water quality by measuring pollution-causing particles in air and water. They also sense radiations and hazardous chemicals in the environment. The IoT in water systems uses smart sensors that detect information about the water quality, temperature changes, pressure changes and potentially any chemical leaks. Effective wastewater management and water testing analytics from IoT systematic water management can help manage water recycling, reduce the amount of water leakages, and efficiently manage wastewater.
The wastewater treatment equipment market is being restrained, however, by high installation and operational costs of the equipment. Some wastewater treatment equipment is equipped with sophisticated programmable logic controller (PLC) systems and instrumentation systems that increase overall equipment costs and energy consumption costs. Further, the high energy consumption of wastewater treatment equipment leads to a high cost of operation and maintenance due to large amount of sludge generated.
Some of the major players in the wastewater treatment equipment market include Suez, 3M, GE Water, Culligan International Company, and DOW Water & Process Solutions.