The expansion of the water treatment and reuse industry owes to important factors like advancements in water treatment technologies and rise in water scarcity across regions.
A report by the Allied Market Research provides a reason for the water treatment companies across the world a reason to smile for. The report has revealed that the water recycling and re-use industry will be expanding to $50.7 billion by 2032, growing at a CAGR of 11.2% from 2023 to 2032. The report says that the global water recycle and reuse market was valued at $17.8 billion in 2022.
The report has mentioned that the global water recycling and reuse market is experiencing growth due to several factors such as an increase in water scarcity and stress. It also holds that dual water distribution systems where recycled water is distributed through a separate piping system alongside the traditional freshwater supply are also one of the causes.
There are challenges too in the market. The public perception and acceptance of recycled water hinders the market growth to some extent. Moreover, the rise in population and rapid urbanization offers remunerative opportunities for the expansion of the water recycle and reuse market.
The growth catalysts
Based on equipment type, the machinery segment held the highest market share in 2022, accounting for nearly one-third of the global water recycle and reuse market revenue and is estimated to maintain its leadership status throughout the forecast period. This is because water recycling and reuse processes involve various types of machinery and equipment depending on the specific application and scale of the system. The machinery segment in water recycling includes screens and filters, clarifiers, disinfection systems, pumping stations, water quality monitoring systems, and distribution networks.
However, the other segment including sludge handling equipment, grit chambers, and monitoring & control systems is projected to manifest the highest CAGR of 11.7% from 2023 to 2032, as sludge pumps, dewatering systems such as belt presses or centrifuges, and sludge drying beds are used for sludge management. Grit chambers or grit removal systems are designed to remove sand, gravel, and other heavy particles from wastewater.
Based on the end-use industry, the industrial segment held the highest market share in 2022, accounting for more than two-fifths of the global water recycle and reuse market revenue and is estimated to dominate during the forecast period. This can be attributed to the fact that water recycling and reuse in the industrial sector is an important practice aimed to reduce water consumption, conserving resources, and minimizing environmental impact.
However, the residential segment is projected to experience the highest CAGR of 11.4% from 2023 to 2032, as water recycling and reuse in residential settings can be an effective way to conserve water and reduce strain on freshwater resources.
Asia-Pacific drives the sector
In 2022, the Asia-Pacific region held the highest market share in terms of revenue accounting for more than one third of the global water recycling and reuse market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. This region is expected to witness the fastest CAGR of 11.5% % from 2023 to 2032. The segment is driven by factors such as the Asia-Pacific region is experiencing rapid urbanization with a large and growing urban population.