Wastewater recovery systems market profoundly thriving on the cusp of shifting green energy trends, has indeed registered itself as one of the integral verticals of the energy landscape. Wastewater management is being given increased prevalence to address the water scarcity issue worldwide, in response to which this business sphere is gaining considerable momentum. This view is backed by a non-profit organization, the Water Environment Federation (WEF), which considers that the wastewater treatment plants are not waste disposal facilities, but rather water resource recovery facilities that recovers nutrients and produce clean water. WEF further deems such facilities to have the potential to lower the dependence on fossil fuels and reduce water scarcity through the production & use of renewable energy.
North America Wastewater Recovery Systems Market Size, By Application, 2016 & 2024 (USD Billion)
Speaking along similar lines, analysts deem that changing consumption patterns, urbanization, and rapid industrialization have led to rising concerns over water scarcity and inadequate water resources. A report by UNESCO bears testament to the aforesaid statement by affirming that more than two-third of the global population currently resides in the regions where they experience water shortages for at least one month a year. Wastewater reuse in this regard has been recognized as an encouraging solution to cope with the problem of water scarcity around the globe – a strong driver fueling wastewater recovery systems industry growth. Having recognized the same, wastewater recovery systems industry players have been majorly investing in facility expansion & collaboration strategies to expand their global reach.
MGX Minerals Inc., for instance, has recently detailed its progression report regarding its first deployment of lithium recovery and wastewater treatment system in Alberta, Canada. The company plans to execute the move with PurLucid Treatment Solutions Inc., in which the former owns a 51% stake. Sources reveal that the second scheduled deployment will be a joint consortium between the government, MGX and PurLucid Treatment Solutions Inc. and will include installation of three treatment systems - evaporator blowdown wastewater (EBD) system, high temperature system, and a larger-scale version of EBD. Industry analysts deem that the move will significantly help in treating regional water for suitable reuse, while saving majority of water loss in industrial projects.
U.S. wastewater recovery systems market to emerge as one of the top-notch growth avenues
Stringent governmental norms and comprehensive legislative framework across the region to curb carbon emission and waste handling have encouraged wide scale adoption of wastewater recovery systems. Say for example, the EPA Clean Water Act that prohibits the discharge of pollutants & polluted water into the regional waterbodies without the NPDES (National Pollutant Discharge Elimination System) permit. Several other regulatory bodies have been taking measures toward waste handling and have also issued Effluent Guidelines for the licensing & approval of wastewater discharge. This in consequence, has impelled sizable wastewater treatment infrastructures installation in the region, in turn stimulating U.S. wastewater recovery systems industry size, projected to register a CAGR of 7% over 2017-2024.
The regional industry is further expected to gain momentum with increasing funding toward wastewater treatment facilities. Reports moreover reveal that the region is also witnessing participation of renowned organizations including the like of the Water Environment Research Foundation that is intending to bring wastewater treatment technologies to commercial fruition. As per reliable reports, as of 2008, US approximately held 19,739 wastewater pipe systems and 14,780 wastewater treatment facilities – a factor further validating the strong stance of the U.S. wastewater recovery systems industry in the global landscape.
Given the expanse of this business sphere spanning numerous geographies, analysts deem the global wastewater recovery systems market to tread along a lucrative growth path in the ensuing years. The process further playing a central role in the renewable energy future that can derive clean water, valuable chemicals from sewage, it no longer remains a supposition that the global market will establish itself as one of the most remunerative fraternities in the coming years. The worldwide wastewater recovery systems market share is forecast to surpass USD 50 billion by 2024.