The global water and wastewater treatment (WWT) technology market is predicted to grow by more than 10 percent annually between 2014 and 2019, according to a new report by BCC Research.
The report looks into the trends likely to influence the development of the market for 15 different products for constructing, maintaining and operating WWT systems through 2019, such as pipes, fittings, valves, chemical products involved in WWT and various monitoring devices. It is estimated that in 2012 the global demand for WWT products across 40 major national markets came in at $47.7 billion. BCC Research predicts that global demand is set to reach almost $53.1 billion this year and $59.2 billion in 2014. By the end of the forecast period, in 2019, the figure is expected to exceed $96 billion.
RELATED: Fracking uses more water than thought, study claims
The global demand value calculations have been made based on several factors across the 40 markets. These are the national water and sanitation goals announced by the countries, the internal financing capabilities of each market, each country's standing in the credit markets and demographic changes like population growth and rural-to-urban population shifts.
The report also identifies that the global WWT products market relies on three profit centers: the building of new WWT plants, upgrades to existing facilities and the supply of chemicals for the various stages of wastewater treatment.
