Transparency Market Research has published a new report "Water Utility Services Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023" to its report store.
Albany, NY -- (SBWIRE) -- 01/05/2016 -- The report provides a comprehensive overview of the global market for water utility services, and studies in detail the factors impacting its growth trajectory over the report's forecast period between 2015 and 2023. Compiling exhaustive information pertaining to the key growth drivers, potential restraints, and opportunities, the report aims to update the industry stakeholders about the market's prevalent dynamics and presents refined forecasts for its growth in the future.
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With the global population increasing at an annual average growth rate of approximately 1.1%, the demand for safe drinking water and improved water utilities for sanitation is poised to rise exponentially in the forthcoming years. Governments around the world have united to provide an adequate supply of clean water for daily use and sanitation to the people living around the world. The principles of water and wastewater management have thus gained significance in recent times. This is particularly true in the case of developing economies, where a strong population growth is observed. Such factors contribute to the expansion of the water utility services market around the world.
The water utility services market mainly comprises public institutions offering safe and suitable water for both household and commercial use. However, recently, private companies have also started foraying in the market, due to which the market is likely to gain a robust momentum. According to the report, the water industry is likely to grow by 4% to 5% on a yearly basis, and water utilities at present account for over 50% of the industry. Furthermore, the United Nations has set the target of reducing the number of people without access to safe water for drinking and sanitation globally, as one of its Millennium Development Goals, which is expected to give an impetus to the global market for water utility services. Several countries around the world, especially the developing nations, have already adopted the goal. This has led to an increased investment in the water utilities segment.
Regionally, Europe has had incredible success in deploying advanced water utility systems. The private sector holds a major share in the water industry in Europe, which makes the region an early adopter of the latest technologies. The U.S. is yet another developing market for water utility services. Due to inadequate development of infrastructure, Asia provides ample opportunities of investment to the water industry. The Middle East and Africa also face a shortage of water supply, which makes the regions lucrative markets for water utility services.
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The report provides a holistic overview of the water utility services market covering relevant insights about the opportunities for expansion of the market around the world.
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