The global water treatment equipment market in the power industry is expected to grow at a CAGR of around 7% during the period 2017-2021, according to a new market research study by Technavio.
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Technavio has published a new market research report on the global water treatment equipment market in power industry 2017-2021 under their energy library. (Graphic: Business Wire)
The report categorizes the global water treatment equipment market in the power industry by application that includes wastewater treatment and water purification. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increasing demand for power
Rapid industrial development has changed the socio-economic structure of the society with the transformation from an agrarian-based society to an industry-based society. Modernization of social and economic lifestyle has led to large-scale industrial production. Several industries such as the oil and gas, power generation, mining, construction, food and beverage, steel manufacturing, electronics, and pharmaceutical are involved in contaminating water resources. Therefore, the use of water by industries has increased due to large-scale industrial production.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio for water and waste management research, "Cooling tower blowdown water is turbid and has high hardness because of evaporation for heat dissipation. This increases the level of chemical constituents and to reclaim the water for reuse; it must undergo ultrafiltration and reverse osmosis treatments. Water treatment technologies also allow operators to reclaim water from cooling tower blowdowns in a quality suitable for optimum operational performance. Therefore, this increases the number of cooling tower cycles."
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Market trend: depletion of freshwater resources
Water security is one of the fastest growing concerns across the globe as the demand for water is continuously increasing across all sectors, whereas the number of water reserveshas remained the same. Power plants usually source water from groundwater, surface water, and municipal water supply. Water is indispensable in the power industry given its use in almost all phases of power production. Most of the water withdrawn is returned to the source after use, after it is treated to bring the chemical constituents within levels specified by regulatory authorities. However, the water is discharged into the environment at different temperatures that cause thermal pollution and harm aquatic life.
Market challenge: increasing use of renewables
Fossil fuels burning is one of the major contributors to emissions across the globe. In 2016, around three-fourths of the global electricity generation was from fossil fuels. The detriment effect of fossil fuel burning has been realized globally. This has shifted the focus to cleaner fuel sources such as nuclear power and renewable energy for power generation. Renewable energy capacity has grown dramatically, supported by subsidies through tax breaks, mandates, and regulations. This has increased the shares of renewables and alternative sources of energy in the global energy mix.
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Key vendors in the market:
- Degremont Industry
- Evoqua Water Technologies
- Ovivo
- Pall
- Veolia
The global water treatment equipment market in the power industry is fragmented and includes many prominent vendors that provide equipment that can be used in any sector. Each vendor has a complete range of product portfolio that provides complete turnkey solutions right from planning to installation at short turnover period. Vendors such as Degremont Industry, Evoqua Water Technologies, Ovivo, Pall, and Veolia are currently leading the market. These vendors also have a large portfolio of water purification and wastewater treatment equipment that can be scalable depending on the end-user's need, thus making the market competitive and increasing the challenge for medium and small vendors.
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