Industrial Water Service Market Size By Service Type (Water Resource Management, Water Supply Management, and Waste Water Management), By End-user (Pharmaceutical Industry, Power Generation Industry, Pulp & Paper Mills, Microelectronics, Food & Beverage Industry, Oil & Gas, Automotive, Mining & Metals, and Others) Regions, Segmentation, and forecast till 2029.
Pune India, Dec. 02, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East, and Africa. These are the key regions where the Industrial Water Service market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Industrial Water Service market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, route of administration, facility of use, and others. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Industrial Water Service market are Salher, Dober, Veolia Environment, American Water, Ecolab, PARKER HANNIFIN CORP, Pentair, Evoqua Water Technologies LLC, Suez Environnement S.A, United Utilities Group PLC, Xylem, Inc., Danaher Corporation, DuPont, Toshiba Corporation, etc., among others. To achieve a substantial market share in the worldwide Industrial Water Service market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Xylem is one of the most significant manufacturers and distributors present in the global Industrial Water Service market.
This growth of the Industrial water service market is significantly driven by the rising demand for water in the industries owing to their multiple functions. Industrial water services are the most crucial services as any organization requires water for each and every process for creating their products or cooling equipment used in creating their products. According to the United States Geological Survey (USGS), industrial water is used for processing, fabricating, washing, cooling, diluting, and transporting a product. Wastewater and industrial water are both a by-product of commercial and industrial water activities. Water is the most crucial resource on earth as it is used for several functions and across a multitude of industries. However, the wastewater generated must be managed carefully to help reduce environmental pollution. Several industries use heavy water as well, which includes food, chemicals, paper, refined petroleum, or primary metals.
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Scope of Industrial Water Service Market Report
|Market Share Unit||USD Million|
|Segments Covered||Service Type, and End-Users|
|Regions Covered||North America, Europe, Asia-Pacific, South America and Middle-East and Africa|
|Major Players||Salher, Dober, Veolia Environment, American Water, Ecolab, PARKER HANNIFIN CORP, Pentair, Evoqua Water Technologies LLC, Suez Environnement S.A, United Utilities Group PLC, Xylem, Inc., Danaher Corporation, DuPont
Toshiba Corporation, etc., among others.
Water Resource Management segment is expected to be the fastest growing segment in 2021.
The service type segment includes water resource management, water supply management, and wastewater management. The water resource management segment is expected to witness the highest growth rate during the forecast period. Supply management is one of the most crucial services as the proper and even distribution of water supply is needed by the different processes of the industries.
The Pulp & Paper Mills segment is expected to be the fastest-growing segment in 2021.
The end-users segment includes the pharmaceutical, power generation, pulp & paper mills, microelectronics, food & beverage, oil & gas, automotive, mining & metals, and others. The pulp & paper mills segment is expected to have the highest CAGR during the forecast period. Despite digitalization promoting the use of digital paper, the pulp and paper industry still remains one of the largest users of industrial water service. Water is increasingly being used at all three stages of paper production, namely, pulp making, pulp processing, and paper/paper board manufacturing, and their associated activities of cooking, bleaching, and washing. This propels the growth of the market in the segment.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Industrial Water Service include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
Asia Pacific region witnessed a major share. The presence of well-established industries in countries such as China, Japan, India, and South Korea propels the market’s growth in the region. Furthermore, the rapid population growth and industrialization in the regions also add impetus to the market’s growth. China is one of the largest economies with high industrial growth, which increases the region’s demand for industrial water services. North America is expected to witness significant growth during the forecast period owing to rising urbanization and rapid and increasing disposable income.
China is the largest Industrial Water Service market globally, with an estimated market share of 25.4% across the Asia-Pacific region by 2022. The demand for Industrial Water services in the country has been rising as China is one of the largest economies with high industrial growth, which substantially increases the demand for industrial services. Furthermore, the increasing number of regional industries propels the market’s growth.
In the Europe region, Germany is the largest market shareholder in the Industrial Water Service market, with an estimated market share of around 21.32% by the end of 2022. Germany is the leading consumer of industrial water services owing to significant industrial developments and high usage by several end-use industries such as chemicals and manufacturing, power, food & beverage, resulting in increased demand for industrial water services.
Covid-19 had a major impact on almost all the industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several industries have seen increased revenue due to significant changes in consumer preferences toward foods. In addition, the pandemic has led to significant changes in how people work and industrial manufacturing processes across developing and developed countries.
Industries these days are becoming increasingly dependent on water as several processes of the industries cannot take place without water. Despite digitalization, several industries, such as the pulp and paper industry, are among the largest users of industrial process water, propelling the market’s growth.
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