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Improving Market Sentiments Fueling Use in Agriculture amid Coronavirus Crisis

The COVID-19 crisis has had an impact on agriculture and food sectors of the Indian economy. This has led to the ripple effects in the industrial water service market, since lockdown measures have suspended and postponed agricultural activities for, at least, a couple of months. This has had a direct impact on the water withdrawals for irrigation, crop production, and allied sectors. As such, mass vaccination programs are anticipated to normalize agricultural activities and revive market growth in the Indian agriculture sector.

It has been found that a decline in food grain production in India during the COVID-19 lockdown period led to massive reverse migration, resulting in labor shortage. However, stakeholders in the industrial water service market are expecting growth in 2021 as compared to 2020 due to improving market sentiments.

industrial water service market infographic

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Circularity Framework to Encourage Indian Textile Industry Stakeholders to Adopt Sustainable Practices

The industrial water service market is slated to clock a favorable CAGR of 6.9% from 2021 to 2031. However, stakeholders in India textile industry are facing challenges in managing toxic wastewater, as a result of the rapidly growing fashion sector. Such findings are triggering the demand for a circularity framework that will encourage stakeholders in the textile industry to participate and integrate circular practices.

Circularity framework in the Indian textile and fashion industries holds potential for increased knowledge sharing. There is a need for clear ownership and funding to drive multi-stakeholder engagement to mitigate risks and connect to opportunities that help to achieve the desired outcome.

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Expansion of Application, Technology Deployment Boost Market Growth

The revenue of the water supply management is predicted to dominate the highest revenue among all service types in the industrial water service market. Lenntech - a specialist in water treatment and purification, is building its portfolio in industrial water supply, pertaining to waste water reuse and boiler feed water, among other applications. Companies are boosting their proficiency in technologies such as multimedia filtration, ultrafiltration, and reserve osmosis to build their credibility credentials.

The industrial water service market is expected to cross US$ 556.63 Bn by 2031. Companies are increasing the availability of solutions in microbiology control, condensate treatment, coarse & fine filtration, and the likes.

High Purity Water Enables Uninterrupted Operation at Power Generation Plants

The power generation industry is one of the key revenue generating sectors for stakeholders in the industrial water service market. DuPont Water Solutions is gaining recognition for supplying high purity water to increase equipment life, prevent corrosion, and enable uninterrupted operation. Companies are bolstering their services toward fossil and nuclear power plants.

Companies in the industrial water service market are working closely with service providers and equipment manufacturers to provide whole and integrated solutions to stakeholders in the power generation industry. Since cooling tower water can present a number of operational challenges, companies are increasing their capabilities in cooling tower blowdown recycling solutions.

industrial water service market segmentation

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Analysts’ Viewpoint

Disruptions in the India agriculture sector due to the coronavirus outbreak has led to reported decrease in reservoir releases for irrigation. Companies in the industrial water service market are gaining a strong research base in corrosion control, nanofiltration, and electro-deionization technologies. However, there is a need for industrial water services that prevent slowing down of operations at power generation plants. Thus, to overcome this challenge, companies are working closely with service providers and equipment manufacturers to address operational challenges at cooling towers, fossil power, and nuclear power plants. There is a need for guidelines and programs by the government to help stakeholders in the India’s textile industry to adopt circularity framework for management of toxic wastewater.

Industrial Water Service Market: Overview

  • The industrial water service market is estimated to value US$ 285.21 Bn in 2021, finds Transparency Market Research (TMR) in a recent study. According to the report, the market is expected to cross US$ 556.63 Bn by 2031, at a CAGR of 6.9%. The revenue from the North America industrial water service market is estimated to be valued at US$ 77.51 Bn in 2021 and is expected to reach US$ 128.96 Bn by the end of 2031
  • Well-established markets for industrial water services such as Europe and North America account for a larger share of the global industrial water service market. Manufacturers in the global market are focusing on offering wastewater management services to end-use industries with growing concerns for water pollution and stringent regulations of regulatory authorities.
  • Industrial water services play a significant role in ensuring that all the end-use industries function with outmost simplicity. These services help industries in carrying out their production operations with the best possible optimized efficiency. These services not only manage the inlet, but treatment and discharge of the used water. The increasing population and the need of reliable systems are all enhancing the growth of this potential market.
  • Furthermore, latest innovations such as smart water systems and Big Data are helping shape the market with outmost efficiency and is aiding to the global development. The integration of such mechanisms for controlling, monitoring, and managing data is the future of the industrial water services market.

Industrial Water Service: Market Frontrunners

  • Industrial water service market in East Asia was estimated at US$ 50.43 Bn in 2021, with China accounting for 72.8% of the market value share
  • In the Latin America region, in 2021, Brazil is expected to hold the largest share of the industrial water service market and value US$ 5.53 Bn registering a value CAGR of around 7%
  • Industrial water service market in South Asia is estimated at US$ 42.51 Bn in 2021. Based on end user, the food & beverage industry is expected to value US$ 9.86 Bn in 2021, power generation industry to US$ 8.71 Mn, and mining & metal industry to US$ to 5.73 Mn
  • Performance of the Europe industrial water service market is forecast to accelerate, with an expected value CAGR of 5.8% during the forecast period. This is expected to drive the market to value US$ 127 Bn by the end of 2031.
  • Growing economic and political stability, increasing urbanization, growing industrialization, increasing disposable income, and stringent regulations for industrial water use across Asia Pacific and Middle East & Africa offer high potential growth for industrial water service market players

Industrial Water Service Market: Dynamics

  • Rise in Demand for Uninterrupted Water Supply across Various Industries: With the rapidly increasing rate of global populations, the need for products and services is also rising and hence, there is the need for basic raw materials, which are essential for manufacture of such products and services. Water services are essential amenities across various industries and used not only in manufacturing products but also in various other processes such as fabricating, processing, washing, diluting, cooling, or transporting a product. Today’s industries across globe are so diversified, and trying to provide even miniscule products to customers. Thus, requiring proper supply of water for carrying out various processes without interruption.
    • According to the Water Risk in Indian Industry Survey report by the FICCI water Mission, India, the demand for water for the industrial sector is on the rise and will account for 8.5% to 10.1% of the total freshwater abstraction in 2025 and 2050, respectively. This is a 4% rise from the current level of 6% of the total freshwater abstraction by the industries in 2010.

Increasing Focus on Renewable Energy Sources to Expand Industrial Water Service Market

  • Global initiatives of world leaders to lower their carbon footprint has created a need for discovering and up talking renewable energy sources. Water is among such renewable source for the generation of energy or electricity. It is used in hydroelectricity generation, thermal, and in various other forms of energy. Water, as a reusable resource works fine for the production of energy but also requires services that can ensure effective management of the resource. This offers new market growth opportunities for the industrial water services market.
    • According to the data published by the U.S. Energy Information Administration (IEA), in 2020, hydroelectricity accounted for approximately 7.3% of the total U.S. utility-scale electricity generation and 37% of the total utility-scale renewable electricity generation. Furthermore, the World Bank data for the year 2013, indicates that the consumption of renewable energy is increasing at a fast pace and accounts for 18% of global energy share.

Increasing Demand for Smart Water Related Services in Smart Cities

  • Increasing need for smart cities calls for such efficient systems that can sustain up to benchmark standards and provide reliable services to various end users. These encompass six important sectors that need to work in unison to achieve a common goal of making a city more liveable, sustainable, and efficient for its residents. These sectors are smart energy, smart integration, smart public services, smart mobility, smart buildings, and smart water.
  • Hence, a need for smart water technologies & services came into existence, which includes those that automate monitoring and metering, treatment and distribution functions, loss and leakage, and metering and usage. These ‘smart’ components are a suite of automation and monitoring technologies tied together by a network-based human interface and control component.

Industrial Water Service Market: Strategies

  • Industrial water service market players are investing in the R&D for enhancement through laboratory and industry resources. The companies are focusing on contaminants of emerging concern, including COVID-19, PFAS, Legionella, cyanotoxin-forming algal blooms, and a variety of pathogens. The companies are also using acquisition and merger strategies for expanding their market share.
    • In 2020, Veolia Environment has acquired 29.9% share capital in Suez from Engie, which is a French gas and power utility. Engie’s stake in Suez is important, as it enables to boost the capacity of Engie to invest in the infrastructure and in the renewable energy. Veolia Environment is looking to acquire remaining shares of Suez after the confirmation of the board of directors with the share pricing 18 Euros.

Industrial Water Service Market: Key Players

  • Some of the prominent key 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
    • Hitachi, Ltd., among others

Industrial Water Service Market – Scope of Report

Transparency Market Research (TMR) has recently published a market study on the global industrial water service market. It provides a detailed assessment of key market dynamics, including drivers, trends, opportunities & restraints, and detailed information about the industrial water service market structure. The market study presents exclusive information about how the industrial water service market will grow during the forecast period of 2021-2031.

Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are elaborated in the study in a comprehensive manner. This information is intended to help readers understand the quantitative growth prospects of the industrial water service market during the forecast period.

The study is intended to offer a holistic market overview to stakeholders in the industrial water service market, including manufacturers, suppliers, distributors, cultivators, brands and investors, and to help them develop winning growth strategies. Stakeholders in the industrial water service market, which include investors, industry experts, researchers, and journalists, and business researchers can leverage the information and data presented in the TMR’s study.

The study also includes statistics and facts related to the macro as well as microeconomic factors that are impacting the expansion of the market. It also offers actionable insights into the future trends in the industrial water service market. Furthermore, small businesses and new entrants in the industrial water service market can make use of the information presented in this study based on which, they can make appropriate business decisions in order to gain momentum in the market.

Key Questions Answered in TMR’s Industrial Water Service Market Report

  • Which country will continue to remain the most profitable region for industrial water service market players?
  • Which factors will induce a change in the demand for industrial water service during the assessment period?
  • How will the changing trends impact the industrial water service market?
  • Which companies are leading the industrial water service market?
  • What are the winning strategies of stakeholders in the industrial water service market to catapult their position at the forefront?

Industrial Water Service Market – Research Methodology

In TMR’s study, a unique research methodology is used to conduct extensive research on the growth of the industrial water service market and identify future growth parameters. This research methodology is a combination of primary and secondary research to help analysts ensure the accuracy and reliability of the conclusions.

Secondary sources referred to by analysts for compiling the industrial water service market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers who contributed to the development of this report as a primary source.

Information acquired from primary and secondary sources is compiled in a comprehensive manner. This also acts as a validation from companies in the industrial water service market, which makes TMR’s projections more accurate and reliable

Industrial Water Service Market – Segmentation

TMR’s study on the industrial water service market offers information divided into important segments — service type, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Service Type
  • Water Resource Management
  • Water Supply Management
  • Waste Water Management
End User
  • Pharmaceutical Industry
  • Power Generation Industry
  • Pulp & Paper Mills
  • Microelectronics
  • Food & Beverage Industry
  • Oil & Gas
  • Automotive
  • Mining & Metals
  • Others
Region
  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

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