The global water treatment system market value is expected to rise from $65bn in 2023 to $128bn by 2033. This market is expected to be driven by an average compound annual growth rate (CAGR) of 6.2% over the next decade, according to Indian market researcher Future Market Insights (FMI).
In FMI report, the ASEAN countries are estimated to expand at a CAGR of 8.6% through 2033, while China and India are high consumers of water treatment systems, with CAGRs of 10.2% and 9.4% respectively, by 2033.
Due to concerns over consuming contaminants that can lead to health issues like reproductive problems, neurological disorders and gastrointestinal illnesses, high demand for potable water is enhancing market growth. Regulatory mandates to reduce contaminants to protect human health are boosting sales of water treatment systems.
Rising demand for water treatment systems in end-use sectors like municipalities, semiconductors, pharmaceuticals, and F&B for a cleaner final product is augmenting investments in these sectors. Government initiatives for increased access to clean drinking water also propel water treatment technology adoption. In emerging economies, the water and wastewater management scope are broad in countries like China and India.
FMI associate vice-president analyst Nikhil Kaitwade said, “Investors and stakeholders are projected to find growth prospects in China and India, where water consumption is high owing to an increasing population, expanding end-use industries, [and] water contamination.” He added that developing countries are exhibiting higher acceptance for advanced water treatment technologies, thus positively impacting the sales of water treatment systems.
In India, the Jal Jeevan Mission initiation offers piped drinking water to around 150 million households by 2024. Moreover, the water demand in India is estimated to be twice the available supply by 2030. The private and public sector both have goals to create a distribution infrastructure for suppliers of water quality monitoring systems, water meters, tertiary treatment technology, water management-related IT systems and other companies.
A key development by the water treatment system market is Coway Malaysia disclosing its water purifier model, Coway Kecil, in December 2020. This model, with its direct filtration technology, has won Coway a platinum prize in the water purifier category. In October 2023, BIO-UV group launched the IO-SEA mini ballast water treatment system, in response to the demand for ballast water treatment solutions from operators of yachts, workboats, offshore support vessels (OSVs), research chips, and smaller-sized vessels. Additionally, US water utility company Springfield water and sewer commission launched a new Backwash Facility, which is expected to modernise the city’s water system.