Industrial Water Service Market to Earn Nearly Double Revenue between 2021 and 2031, says TMR Study

 

Transparency Market Research: The industrial water service market is projected to touch US$ 556.6 Bn mark by 2031. The upgrade to smart water network for industrial water services is deemed necessary to improve the efficiency and reliability of the physical water infrastructure. In order to serve this, stakeholders in the industrial water service market are investing in R&D for IoT devices and data analytics tools. The deployment of these tools is anticipated to support improved management of industrial water service infrastructure and reduced water losses.

The sales graph in the industrial water service market is ascending due to operational upgrades to provide customized water solutions. For instance, industrial water service companies align their operations with large volume water required for the drilling of oil and gas.

Service providers in the industrial water service market are playing a key role for sales growth to attain new heights. For instance, to serve the power generation sector, companies in the industrial water service market work closely with service providers and equipment manufacturers to provide complete and integrated solutions.

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Companies in the industrial water service market are consistently expanding their water production capacity and are boosting their wastewater treatment capabilities to serve their industrial customers. Thus, companies are increasing their proficiency in multimedia filtration, ultrafiltration, and reserve osmosis to consolidate their credibility. This allows them to increase the availability of solutions such as in microbiology control, coarse and fine filtration, and condensate treatment.

Apart from this, initiatives to expand the output capacity in clarified water is a focus of companies in the industrial water service market. This is translating into increasing demand for clarified water in heavy industries such as petrochemicals. Besides petrochemicals and power generation, companies in the industrial water service market are tapping into opportunities in the agriculture sector. This will manifest into sales growth in the industrial water service market at an estimated CAGR of 6.9% for the forecast period from 2021 to 2031.

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Industrial water Service Market – Key Findings of Report

• Potential of next gen data analytical tools and IoT devices foreseen to support important changes in the operations of water utilities and water companies.
• Need for integration of circular practices experienced in the India textile industry to manage toxic wastewater.
• Keen players in the industrial water service market are leveraging the need for innovative solutions for water and wastewater treatment in the metal finishing and textile production industry segments. This involves devising solutions for cleaning and surface preparation in the metal finishing sector and pre-treatment solutions for the textile sector.
• Players in the industrial water service market need to design systems to adhere to regulations of the U.S EPA to serve the metal finishing industry.
• Water supply management service type is anticipated to contribute leading revenue to the industrial water service market in the coming years.

Industrial Water Service Market – Growth Drivers

• Need for assistance for the efficient channeling and sustainable use of industrial wastewater fuels the growth of industrial water service market
• Integral role of smart water technologies within water services in the development of smart cities for an array of operations underscores growth

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Industrial water Service Market – Key Players

Some of the key players operating in the industrial water service market are

• Salher
• Veolia Environment
• Ecolab
• PARKER HANNIFIN CORP
• Evoqua Water Technologies LLC
• United Utilities Grop PLC
• Danaher Corporation
• Toshiba Corporation
• Dober
• American Water
• Pentair
• Suez Environments S.A.
• Xylem Inc.
• DuPont

The industrial water service market is segmented as follows;

Industrial Water Service Market by Service Type

• Water Resources Management
• Water Supply Management
• Waste Water Management

Industrial Water Service Market by End User

• Pharmaceutical Industry
• Power Generation Industry
• Pulp and Paper Mills
• Microelectronics
• Food & Beverage Industry
• Oil & Gas
• Automotive
• Mining & Metals
• Others

Industrial Water Service Market by Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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