India Water and Wastewater Treatment (WWT) Technology Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)
The Indian water and wastewater treatment (WWT) technology market was valued at USD 2,042.91 million in 2020, and the market is projected to register a CAGR of 8.55% during the forecast period (2021-2026).
The COVID-19 outbreak has been negatively affecting the economy of India. The pandemic negatively affected the operations of several end-user industries of the market studied, which reduced the outflow of industrial wastewater. The COVID-19 pandemic resulted in a huge drop in oil demand. The drop in demand resulted in the futures market for oil turning negative. This resulted in the decreased investments and a major scaling back in the drilling activities. As a result, the demand for water treatment technologies in the industry declined. In the food and beverage industry, labor shortage and the shutdown of plants reduced the food production levels in 2020. The food and beverages industry accounts for ~3% of India’s GDP, and it is the single largest employer in the country, with more than 7.3 million workforces. Food items other than staple food and ready-to-eat food witnessed a significant decline, owing to the decreased food consumption in restaurants and hotels. These trends negatively impacted the growth of the food industry. Furthermore, in the pulp and paper industry, reduced imports of packaging material by major consumers resulted in a domestic oversupply of pulp and paper products in the manufacturing countries. This oversupply issue is negatively affecting the growth of the industry.
Key HighlightsThe Indian water and wastewater treatment (WWT) technology market is partially consolidated, with the major players accounting for a moderate share of the market. Key players in the market studied include Veolia, Suez, Thermax Limited, VA TECH WABAG LIMITED, and DuPont.
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