According to a new research report released by Global Market Insights, Inc., the market for sludge dewatering equipment is projected to go over US$4.9billion by 2024.
Rapid urbanisation coupled with booming populations are the main drivers behind the expansion of the sludge dewatering equipment market, and increasing volumes of waste that come with the growing urbanisation and populations along with industrial waste due to industrialisation will leave a positive mark on the industry. Relatively easy maintenance, affordable prices, and user-friendliness are some of the factors behind the expanding sludge dewatering equipment market share.
Government regulations against incineration, land filling, and ocean dumping will serve to boost the demand for sludge dewatering equipment. Of these, waste from municipal areas will be an area where the equipment will be significantly applied.
By 2024, the sludge dewatering equipment market in North America is expected to experience a growth of over three per cent due to increasing environmental awareness coupled with strict regulations that inhibit the improper disposal of waste.
In Europe, the sludge dewatering equipment market in Germany is projected to grow more than four per cent, especially with the introduction of The Hazardous Waste Regulations 2005, which regulates the disposal of hazardous waste that may harm the environment or human well-being.
A six per cent increase is projected in the sludge dewatering equipment market in South Africa. There, the Hazardous Substances Act 1973 and Health Act 1977 oversee the disposal of solid and liquid waste while also regulating both municipal and industrial waste in order to safeguard the nation’s health and environment by offering reasonable measures to curb pollution and prevent the degradation of the environment.
In the Asia-Pacific region (APAC), the sludge dewatering equipment market in China is slated to pass over the US$400 million mark by 2024. In the nation, the Solid Waste Amendment 2004 mandates that any solid waste that is to be processed should be broken down and disposed of separately.