ASEAN'S Water & Wastewater Services Industry Market Growth
The Southeast Asian (SEA) total water and wastewater services industry market is considered to be at the growth stage, with varied development stage across countries in the region. The total market in the region is likely to grow cumulatively at a compound annual growth rate (CAGR) of 5.82% between 2017 and 2022.
The water and wastewater services industry market in SEA is still nascent with a highly fragmented market. Water market leaders from Japan, North America, and Europe have already begun capitalizing on the largely underdeveloped market. Although Singapore and Malaysia are currently the markets with the most activity, developing markets such as Indonesia, Vietnam, and the Philippines are expected to offer strong growth opportunities in the coming years.
In Malaysia, the water and wastewater services industry market is expected to register a positive CAGR of around 6% during the period 2017-2022, as it has gained fresh momentum due to the enhanced focus of the government. Demand for industrial water and wastewater treatment industry in Malaysia will be largely driven by increased concern for the environment and lack of good quality water for industrial uses. The government also has shown its concern and has announced projects such as Pantai 2 STP which is the largest sewage treatment facility in the Asia Pacific region to ensure adequate treatment of water before being discharged. Plans of the government to further make Malaysia a manufacturing hub will further boost the demand for water treatment plants in new and upcoming industries.
With such healthy growth in the region’s water and wastewater services industry, ASIAWATER has positioned itself as the leading trade event in the fields of water and wastewater management, sewerage, industrial wastewater, purification, irrigation and water resources management industries with focus on technology and innovations taking place in water and wastewater treatment and management, sanitation facilities, pumps and valves, filtration, particle separation as well as sustainable, clean and green technologies and more.
Sources from Research & Markets and Ken Research.