The global liquid waste management market size is expected to reach USD 117.8 billion by 2025
LONDON, June 26, 2018 /PRNewswire/ -- Liquid Waste Management Market Size, Share & Trends Analysis Report By Source (Residential, Commercial, Industrial), By Industry (Automotive, Pharmaceutical, Iron & Steel), By Service, And Segment Forecasts, 2018 - 2025
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The global liquid waste management market size is expected to reach USD 117.8 billion by 2025 clocking in a 3.8% CAGR during the forecast period. Increasing toxicity and safety concerns related to growing instances of waterborne diseases is expected to drive growth over the forecast period.
The industry is widely influenced by factors such as population, waste production rates, available disposal capacity, and disposal sites. Rising global population and rapid industrialization in emerging economies have driven the amount of sewage generated by the manufacturing and service industry, thereby driving growth.
The industry is highly regulated in nature and governed by stringent regulations set down by different associations and ministries. The U.S. Environmental Protection Agency (EPA) and European Commission administer these regulations to decrease the gap between waste generation and management, which is expected to drive demand in the industry.
Industrial and residential sewage is often associated with health concerns since improper disposal leads to pollution, environmental toxicity and degradation, and soil contamination.Industrial chemical waste poses serious threats, such as radiation risks or biological organisms, which may lead to epidemic breakouts.
This warrants the need for liquid waste management solutions, thereby driving market growth.
The industry is highly competitive and characterized by increasing technological challenges on account of changes in regulations and presence of experienced competitors. Synergies between water, sewage, and energy business lines set apart major players from local competition in the liquid waste management service industry.
Further key findings from the report suggest:
• By source, the residential sector accounted for 42.8% of the revenue in 2017 on account of increasing utilization of water per household. This can be attributed to growing population in developing countries such as India and Brazil
• Organic and non-hazardous waste generated by the commercial sector accounted for 80.7% of the overall revenue in 2017 on account of rising demand in the hospitality industry and high demand for water in the medical sector
• On the basis of industry, the automotive sector amounted to USD 4.87 billion in 2017 of the overall revenue on account of large amount of waste, including chemicals, oils, and wastewater, generated by the industry
• The market in Brazil is expected to register a CAGR of 5.9% owing to rising industrialization and increasing per capita water consumption in households over the forecast period
• U.S. accounted for 22.6% of the revenue in 2017 on account of stringent government regulations and presence of major players in the market providing a range of environment services to commercial and industrial sectors
• Major players in the industry compete on the basis of availability of specialized equipment, skilled labor, diversity of services, service quality, safety records, and prices to gain a larger share in the market.
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