Industrial Water Service Market: Introduction
A recent study published by Transparency Market Research on the industrial water service market includesglobal Industry analysis and opportunity assessment for 2021-2031. Revenuegenerated from the industrial water service market in the U.S. was valued atUS$ 69.25 Bn in 2021, which is estimated to riseat a CAGR of 5.1% to reach US$ 114.41 Bnby 2031.
Increase in Awareness about Water PreservationRequires Sustainable Water Services
With the rising industrialization, there is a huge demand for waterservices that can effectively make water reusable for various products andservices offered by industries. Moreover, stringent environmental regulationsfor preventing water pollution and encouraging water reusability imposed bygovernments across various regions demand that such products and services cansustainably conserve water, making them less harmful for the environment. Theseservices produce such water, which is generally clear, odorless, andwell-suited for flushing toilets for water art and for irrigation.
· In India,the Ministry of Water Resources and the Ministry of Environment and Forest havepassed laws such as guidelines for repair, renovation, and restoration of waterbodies with external assistance and domestic support for the conservation andreusability of water. These policies are helping shape the industrial waterservice market.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=82724
High Demand for Water Management Systems acrossVarious Industries
Industrial development across the globe due to rising demand forproducts and services is enhancing the effectiveness of water managementsystems. These systems are widely accepted and utilized across prominentindustries such as oil & gas, food & beverages, pharmaceuticals, etc.These systems determine the amount of water that can be used and reused invarious industrial applications. The need for these industries to operateuninterruptedly has increased the demand for such efficient water managementsystems.
· Forinstance, in a developing nation such as India, according to the Ministry ofWater Resources, the industrial sector accounted for approximately 6% ofthe total freshwater abstraction at the beginning of this Century, and theCentral Pollution Control Board (CPCB) reported that the figure may be upto 8%. Another estimate from the World Bank states that the presentindustrial water use in India is about 13% of the totalfreshwater withdrawal in the country and the water demand for industrial useswill grow at a rate of 4.2% per year, rising from 67 Bncubic meters in 1999 to 228 Bn cubic metersby 2025. Such volumes needs to be properly managed for effectiveutilization.
More Trending Reports
Need for Operational Efficiency Shaping IndustrialWater Service Market
Operational efficiency is one of the potent requirements that governsthe smooth functioning and cost cutting for various end-use industries. Theseindustries are now focusing on services that comply with the regulatorystandards and can also remain in line with the organization’s efficiency. If itdeviates the utilities, the world will have to face cost of capital andprovision services with limited ability to pass the cost further to consumers.Water companies in many parts of the world are now following in the footstepsof various end-use industries, providing their services according to the needof the industries.
· Forinstance, while drilling for oil & gas, high volume of water is used and isobtained while production. These industries are in need for personalizedsolutions, which also lies in line with the overall efficiency of the project.
Challenges for Industrial Water Service Providers
Stringent regulations, deficient tendering slowsdown market growth: Water supply and sanitation infrastructure are majorly held bypublic/government authorities in majority of countries. The governments inthese countries generally function through releasing tenders for companies,which are either state-owned and follow government guidelines or are privatelyowned but have to follow government guidelines in order to run the businesssmoothly.
· Tenderingprocess is implemented by a variety of different ministries and levels ofgovernment through different policies, laws, and decrees, which sometimes mightbe overlapping or leave gaps, making it quite difficult to identify who isreally responsible for any of the given aspect of water management. Moreover,governments in these nations have implied certain set of regulations that areoften found favoring local companies, making it difficult for foreign playersto enter.
About Us
Transparency Market Research (TMR) is a global market intelligencecompany providing business information reports and services. The company’sexclusive blend of quantitative forecasting and trend analysis providesforward-looking insights to thousands of decision-makers. TMR’s experiencedteam of analysts, researchers, and consultants use proprietary data sources andvarious tools and techniques to gather and analyse information.
TMR’s data repository is continuously updated and revised by a team ofresearch experts so that it always reflects the latest trends and information.With extensive research and analysis capabilities, Transparency Market Researchemploys rigorous primary and secondary research techniques to developdistinctive data sets and research material for business reports.
Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
