July 03, 2018
WELLESLEY, Mass., July 03, 2018–Demand for water supply and irrigation systems has increased globally due to a rising population, sustainable development initiatives and technological advances, such as artificial intelligence and automation.
As indicated in the report Water Supply and Irrigation Systems: Global Markets to 2022, BCC Research expects this market to reach $396.7 billion in 2017 and $493.9 billion by 2022, at a compound annual growth rate (CAGR) of 4.5%.
The U.S. is the largest market in terms of value. However, India and Brazil are forecast to have the fastest growth, increasing at a CAGR of 15.4% and 6.1%, respectively.
“Asia, Africa and Latin America are among the fastest growing regions in terms of population growth, and China and India continued to remain the most populated countries,” the report notes. “Additionally, these countries witnessed a high rate of urbanization due to rapid economic growth, leading to increased demand for water supply from urban centers. The water supply and irrigation systems market has grown to meet the increased demand of water for consumption and irrigation purposes from these large cities.”
New Technologies Promise Greater Efficiency, Cost Savings
Membrane water treatment technologies are increasingly implemented as they reduce costs and energy consumption and enhance process efficiency. These systems use membranes, such as microfiltration, nanofiltration or reverse osmosis, and pressure or a vacuum to push or draw clean water. Companies providing this system include GE Water and Process Technologies, Koch Membrane Systems and Lenntech. Implementation of these technologies is expected to drive the market in forecast period.
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Water Supply and Irrigation Systems: Global Markets to 2022( ENV043A )
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