- The key vendors in the global water recycle and reuse market 2015-2019 are AWWA, GE Water and Process Technologies, NALCO, Siemens Water Technologies, Veolia Environment SA, and Water Rhapsody.
London, 27 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global water recycle and reuse market 2015-2019. The rapid increase in industrialization is a critical factor that augments growth in this market. The increase in industrialization has amplified the demand for water, which is depleting the availability of water globally. Therefore, it becomes necessary to reuse and recycle water for future applications. This growing preference for water recycling is expected to influence the market positively. This market is expected to grow at a CAGR of 19.20% during the forecast period of 2014-2019.
Increasing instances of water scarcity across the globe is a major factor that is expected to foster growth in this market. Recent studies suggest that around two-thirds of the world’s population face water shortage and this problem is expected to increase drastically in the near future. Factors such as growing demand from the industrial and agricultural sectors, infrastructure shortfalls, overexploitation of groundwater supplies, pollution, the culture of wastewater, and building of dams are expected to contribute toward the growing water scarcity. Hence, the need for water recycling and reuse is becoming more evident with time.
“Rapid industrialization has changed the social and economic structure of a society with the transformation from an agrarian-based society to an industrial society. The modernization of a social and economic lifestyle has led to large-scale industrial production. This has resulted in high demand for water,” says Faisal Ghaus, Vice President of Technavio Research.
“Due to industrialization it has become necessary to reuse and recycle water for public use because of the depletion of the water resource and the growing demand for water. This requirement has also led to increased demand for recycling and reusing water for industrial, domestic, and commercial purposes.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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