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The global liquid waste management market size is predicted to reach USD 85.02 billion by 2026. The growing emphasis to curb water pollution by government bodies will subsequently create lucrative business opportunities for the market in the forthcoming years. Additionally, the rising importance for clean water along with awareness regrading water contamination will positively influence the waste management market trends in the forthcoming years, mentioned in a report titled “Liquid Waste Management Market Size, Share & Industry Analysis, By Source (Residential, Commercial & Industrial), By Industrial (Paper & Pulp, Chemical & Petrochemicals, Food & Beverages, Textile & Tannery and Others) and Regional Forecast, 2019-2026” the market size stood at USD 65.93 billion in 2018 and is expected to register a CAGR of 3.3% between 2019 to 2026.
Renewal of SUEZ’s Wastewater Recycling Contract to Promote Growth
Suez, a French-based utility company announced the renewal of its contract with West Basin Municipal Water District for the maintenance of water recycling facility in Southern California. The five-year contract includes a transaction of €67 million, beginning from 2020 and extending till the end of 2024. The announcement of the new development and agenda for the future will consequently accelerate the market growth for liquid waste management during the forecast period owing to their aim to preserve water resources for sustainable water supply. Moreover, Edward C. Little water recycling facility yields about 15000 m³ of water everyday while also producing five different qualities of custom-made recycled water to meet certain need to the West Basin’s municipal, commercial and industrial customers. Nonetheless, the production of 45 000 m³ of barrier water every day for aquifers replenishment by the Edward C. Little facility will protect ground water and seawater, which, in turn, will aid to fulfill market possibilities in the future.
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Big-Budget Water Treatment Plants to Dwindle Market Growth
The growing plans and initiatives by government to reduce water pollution will favor the market share for liquid waste management during the forecast period. For instance, in 2019, the ‘Love Water’ campaign was launched in the U.K, over 40 environmental groups, water companies, charities and regulatory authorities joined hands together to raise awareness about water pollution and importance of water in future. Moreover, the U.S. Environmental Protection Agency released an ‘Effluent Guideline’ for industries under the Clean Water Act (CWA). The maximum contamination level allowed in discharge will depend on industry type and the levels set as per performance of treatment systems. Nonetheless, high-cost associated with the establishment of water treatment plants will sequentially restrict the liquid waste management market growth in developing countries. For instance, high income nations have the treatment capacity of over 70% of the wastewater production as compared to 8% in low income countries.
Rising Water Crisis to Enable Robust Development
The growing demand for clean water supply in developing countries has led to the recycling of waste water, which, in turn, will aid market development. As per the United Nation Environment Program survey, the demand for water will increase 50% by 2030. Moreover, over 3.5 million people in Africa, Asia and Latin America have water related diseases and more than 0.8 million people die every year due to contaminated drinking water. The rising investment by renowned companies in water treatment projects will spur sales opportunities for the market in the forthcoming years. In March 2019, Aqua America Inc., an Essential Utilities company announced to invest US$ 555 million for the development of water & wastewater systems across eight states in the U.S.
The Report Lists the Key Players in the Liquid Waste Management Market:
Further Report Findings:
The Liquid Waste Management Market is Segmented into:
Value (USD Billion)