Water Utility Services Market Research 2015 – 2023
The global water utility services market includes a number of domestic as well as private companies responsible for the timely and safe distribution of water and other related services such as sanitation management, wastewater management, and water utilities, among others. The industry of water is predicted to expand at 4-5% annually, among which water utilities account for nearly 50% of the total industry.
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The demand for water from the agricultural, residential, and industrial sectors is fuelling the market for water utility services. Water utility services are highly regulated and they come under state, municipal, and federal jurisdiction. Safety of the water is maintained by the local food and drug administration and the central courts make sure of the fair distribution of supply to all the states within a country. Local and state authorities also test the quality of the water supplied.
Economic Crisis in Europe and Asia Increasing Investment Opportunities for Private Companies
The local authority holds the primary share in the water utility sector. However, currently the water utility services all around the world have been facing a number of challenges. For instance, the change in the regulatory models in the UK and Australia, the development of the water distribution network in Asia and the Middle East, and the aging infrastructure in the U.S. are amongst the prime challenges experienced by the global water industry.
To overcome these challenges, the water industry requires big investments for improving the customer services, operational efficiency, deploying smart innovative technologies, and for enabling flexible supply. Nowadays, individuals have become extremely conscious about the quality of water as well as the effectiveness of the related services. Due to this, there is a lot of financial burden on Europe, Asia, and Africa However, this has actually acted as a driver for private companies and has created big investment opportunities for them. Hence, a number of private companies have taken over the water utility services in countries including Italy, France, the UK, and the Czech Republic, among others.
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Europe Emerged as the Most Proficient Water Utility Service Provider
On the basis of geography, the global water utility services market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Amongst these, Europe emerged as the most proficient utility service provider for water utilities. The water market in the U.S is experiencing the requirement for exhaustive refurbishment and is also a promising market for the companies operating in the water utility services market. The Asia and the Middle East and Africa markets are expected to present enormous investment opportunities and are attractive markets for prime players owing to lack of infrastructure and water supply shortages at present.
The prominent players operating in the water utility services market include Thames Water Utilities Limited, American Water Works Company, Inc., Messe Berlin GmbH, SAUR, Veolia Water Technologies, National Oilwell Varco Connecticut Water Co., LAYNE, Artesian Water Company, Pentair plc., United Utilities Group PLC, and Watts Water Technologies, Inc., among others.
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