Nikhil Kaitwade heads the Industrial Automation domain for Future Market Insights (FMI). Kaitwade can be reached at [email protected].
undefinedFuture Market Insights (FMI) released a report on the water treatment system spending market. WQP Associate Editor Cristina Tuser spoke with Nikhil Kaitwade, head of the Industrial Automation domain at the market research and consulting firm FMI about the report and how the market is impacted by COVID-19.
Cristina Tuser: What is the genesis of this report?
Nikhil Kaitwade: The genesis of the report is based on the water treatment system market, which has emerged significantly over the last 10 years in the wake of constrained water resource levels and water quality to be used by the end users. Also the inculcation of water quality management measures and directives for edible and non-edible purposes have necessitated the use of water treatment systems. The water treatment system focuses on process water treatment as well as wastewater treatment types as applicable across various types of end-use sectors. The report provides analysis on the type of treatment method and fundamental technologies employed for each end-use sector.
The analysis is done by the major geographical regions of the globe and also provides an aggregate overview of the market. The scope of the report covers the commercial aspect of the water treatment system as a business entity being followed by the associated companies providing equipment, consumables and related services. The basis of companies involves tier-1 global level vendors as well as vendors operating in particular regions or countries.
Tuser: What factors are contributing to water treatment market growth?
Kaitwade: With the depletion of freshwater availability level and end-users resorting to alternate resources, i.e. seawater and groundwater, the water content quality is drastically different consisting of undesirable components, such as hardness/pH level, dissolved impurity and visible contamination particles. Prior to the use of water samples, these components need to be treated in either minimizing or eradicating the said components so as to be deemed fit for usage by the end user. The parameters for usage of eligible water sources differ by end-use sector, i.e. residential, municipal and industrial sectors. Additionally, the need for water treatment has also extended beyond principal intake source water treatment towards treatment of effluent, waste or sewage as generated by each end-use sector.
Tuser: How will the adoption of the desalination process evolve?
Kaitwade: The desalination process is expected to be an emerging market in the next 10 years, where it will prove to be a high-value proposition for the interested stakeholders considering the treatment costs. The reason behind the segment being a lucrative market is that seawater will exist as the major raw water resource in the upcoming times against the depletion of freshwater resources and will account for more than 40% of the overall market.
Tuser: How does COVID-19 impact these findings?
Kaitwade: Though the initial phase of COVID-19 outbreak has caused downsizing of industrial operations and productivity rate as well as lag of CAPEX investments in majority of industries, the recovery path is currently being envisaged by the enterprises to reach towards resumption of operations towards threshold levels.
In the wake of the same, the treatment system has witnessed the resultant effect, albeit in separate stages. The equipment domain of water treatment systems has witnessed a slowdown in new unit sales due to prudent measures undertaken by industries to refrain from any significant investments. However, with water utilities being an indispensable component, the demand generation rate for water treatment system consumables and associated services has remained unabated and will maintain their growth rate owing to periodic replenishments and upgrades from municipal, domestic, as well as industrial sectors.
