Market Trends of PH Sensors Industry
Water and Wastewater Application to Register Significant Growth
- The water and Wastewater Industry" accounts for the biggest vertical segment in the individual market due to environmental agencies' growth in awareness and environmental situation. Standard applications, like chromium wastewater treatment and aquaculture, largely dependent on precise pH and ORP measurements to provide needed safety standards, are providing constant demand in the market.
- Regions like North America, Europe, and Asia-Pacific, have noticed a significant growth in sustainable energy projects. Water treatment initiatives, like water treatment and desalination activities, are rapidly gaining popularity among municipalities and industrial sectors, developing a substantial need for pH sensors.
- According to Thames Water, the company treated 4.6 billion liters of wastewater daily for the year ending March 2022. Thames Water is established in Reading, Berkshire, with 353 sewage treatment works. It also delivers 2.5 billion liters of drinking water daily to more than 15 million customers in London and the Thames Valley region.
- Globally, growing water treatment plants and situations regarding water scarcity fuel the need for pH sensors from the desalination sector. Water pH gives crucial data for controlling the treatment system for desalination systems. For instance, in November 2022, Daiki Axis Japan, a Water treatment solutions provider, intended to set up its second plant in Haryana, India, with an investment of INR 200 crore, with the plant capacity to produce 1,000 sewage treatment units with Japanese "Johkasou" technology.
- Furthermore, investments from the chemical, water, and wastewater industries are anticipated to increase. For instance, in July 2022, The U.S. Department of Agriculture (USDA) invested USD 13 million to develop access to rural water infrastructure and assemble economic opportunities for people who live and work in colonies or rural and Tribal communities. The investments contain over USD 9 million to help nearly 14,000 people in socially vulnerable communities.
- Further, in August 2022, Biden-Harris Administration introduced EPA-USDA Partnership to deliver Wastewater Sanitation to Underserved Rural America, as such developments will further drive market growth.
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Asia Pacific to Experience Significant Market Growth
- Asia-Pacific is anticipated to experience lucrative growth in the ph sensors market over the coming years due to the emerging economy, rising awareness of technological advancements, advances in the pharmaceutical and biotechnology industries, growing awareness in the manufacturing sector, and an increase in government initiatives for funding.
- According to IBEF, the Indian government is expected to spend INR 3.50 lakh crore (USD 46.5 billion) for the "Jal Jeevan" program, which strives to reinforce the current water sources to set up different treatment plants and desalination plants in the coastal regions by 2024. The mission also desires that the existing water supply and connections are functional, water quality is maintained, and sustainable agriculture is achieved.
- Further, in February 2022, According to the data reported by The Energy and Resources Institute (TERI), the country's water demand is anticipated to grow to 1180 BCM by 2050. Such expansion in water in wastewater treatment may further drive the studied market growth in the future.
- In addition, with growing infrastructure projects in China, many water reuse and wastewater treatment policies are demanding pH sensors and analyzers in the country. For example, the statistics from the International Water Association indicate that Beijing, the capital of the People's Republic of China, recycled a quarter of its domestic wastewater and enhanced the treatment of up to 85 percent of industrial wastewater discharge.
- Moreover, growing investments in oil and gas projects further drive the demand for pH measurements in the region. According to IBEF, in May 2022, ONGC announced plans to invest USD 4 billion from FY22-25 to expand its exploration efforts in India.
- Furthermore, in March 2022, the Board of Oil India approved an investment of INR 6,555 crore (USD 839.49 million) for the Numaligarh petrochemical project. In addition, the oil sector's aggregate installed provisional refinery capacity stood at 249.21 MMT, and IOC appeared as the largest domestic refiner with a capacity of 70.05 MMT.
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