The global packaged wastewater treatment market attained USD 15.9 billion in 2018. The market is expected to see a robust growth in the forecast period of 2019-2024, growing at a CAGR of 10.4%. In 2024, it is projected to reach a value of USD 28.7 billion.
While globally, more than 80% of the wastewater is released into the environment without undergoing adequate treatment, this trend is expected to change with the growing scarcity of water resources. Almost 70% of the industrial and municipal wastewater generated in Europe undergoes treatment. In the Middle East and North Africa (MENA) regions, on the other hand, the figure stands at 51%. The city of Aqaba in Jordon is the only city in the world where 90% of the wastewater produced is collected and treated. This is done to meet the increasing demand for water due to the burgeoning tourism industry in the city. The increasing investments into the treatment of wastewater by the countries are aiding the growth of the packaged wastewater treatment market. North America is a leading market for decentralised wastewater treatment. The region will also witness a healthy growth at a CAGR of 7.9% in the forecasted period of 2019-2024.