Wastewater recovery systems market valuation to surpass the 50-billion-dollar frontier by 2024, global industry to be characterized by a strict regulatory landscape
The rising scarcity of water & the growing risks associated with climate change have led to global wastewater recovery systems market charting out a highly profitable growth path in the last few years. Most companies that depend on consistent water supply are now exploring and implementing water recovery systems that can effectively mitigate the risks of unstable water resources. Most certainly, the growth of wastewater recovery systems market has also received considerable boost from the increased interest depicted by the global community and the legislative bodies.
North America Wastewater Recovery Systems Market Size, By Application, 2016 & 2024 (USD Billion)
An instance validating the authenticity of the aforementioned is that of the EPA of the United States issuing the Effluent Guidelines for the approval and licensing of wastewater discharge through industrial and commercial operations. Numerous other regulatory bodies also, have seemingly undertaken a plethora of efforts to ensure wastewater treatment. Of late, wastewater recovery systems have gained renewed traction through recycling wastewater that has proven to be a good measure to ease the pressure on water resources and environmental conservation.
According to industry analysts, the global demand for water will increase by 40% by 2030. But without efficient conservation of natural resources and effective wastewater recovery, it is predictable that companies in drought-prone areas and other water intensive industries will face major challenges in maintaining their facility operations and manufacturing lines. With major technological advancements and cost-effective solutions with regards to wastewater recovery systems however, the electronics, food and beverage, pharmaceutical, chemical, metal and mining sectors have now begun to adopt these devices on a humongous scale. This in consequence, would major drive wastewater recovery systems market trends.
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Natural filtration and treatment processes have been on a rage lately and have inherently contributed toward driving wastewater recovery systems market. Say for instance, membrane filtration, media filtration, and ultra- filtration and reverse osmosis, that are classified among some of the best technologies used in wastewater recovery systems. In fact, the declining cost of membranes combined with increasing operational efficiency has spurred membrane filtration-based wastewater recovery systems industry size, projected to register a CAGR of 9% over 2017-2024.
Among the myriad water intensive industries adopting wastewater recovery systems, the F&B, pharma, and mining industries deserve a special mention. The food and beverage sector, in particular, stands out as one of the largest consumers of water and consequently, one of the largest producers of wastewater or brine. Previously, waste water from food processing factories were discharged in evaporation ponds. But as environmental regulations made such ponds obsolete, the food industry quickly adopted advanced membrane filtration systems to recover and reuse the water produced during processing resulting in the rise of the zero-discharge scheme. Zero liquid discharge also became popular in the mining industry where thermal and non-thermal solutions are used to recover a substantial amount of wastewater and reduce brine.
Environmental restrictions have been instrumental in augmenting wastewater recovery systems market. Scientists and advocacy groups are maximizing awareness about the importance of water resources and their relation to producing clean energy. Wastewater has actually led to a major disruption in the natural water cycle that maintains a balance among all organisms in the ecosystem. As climatic changes and increased frequency of droughts continue to challenge industries with manufacturing hiccups, wastewater recovery systems industry is expected to witness a significant upsurge.
Numerous industrial sectors, in a bid to combat water scarcity, have been making increased investments to avoid water-shortage related challenges. Water-intensive sectors are also expected to adhere to environmental regulations that are stressing the importance of bringing back harmony in the natural water cycle. Aided by a strong regulatory framework and the rising efforts of myriad companies, wastewater recovery systems market size will register a CAGR of 8% over 2017-2024.
Author Name : Paroma Bhattacharya