Water And Wastewater Sensors Market Size

Water and Wastewater Sensors Market Analysis

The Water And Wastewater Sensors Market size is estimated at USD 65.78 billion in 2024, and is expected to reach USD 96.61 billion by 2029, growing at a CAGR of 7.40% during the forecast period (2024-2029).

• Growing measurement of the rising level of water pollution and increasing government funding for controlling and monitoring pollution are key factors driving the market growth in the forecast period. Furthermore, the government of India is planning to invest INR 3.6 trillion (USD 50 billion) in the Jal Jeevan Mission, the government’s ambitious program to supply piped water to all households in the country, intent start in 2024.
• Increased demand for clean water due to industrialization, rising urbanization, and diminishing freshwater supplies are expected to enhance studied market demand. In August 2022, the US Department of Agriculture (USDA) announced a USD 75 million investment in critical infrastructure improvements to ensure thousands of rural people in Greenbrier County have clean drinking water and sanitary wastewater systems for years to come.
• Furthermore, according to the US Environmental Protection Agency, the Bipartisan Infrastructure Law delivers more than USD 50 billion to the Environmental Protection Agency (EPA) to improve the nation’s drinking water, wastewater, and stormwater infrastructure. Such investments in clean water projects may further drive the studied market demand.
• Moreover, in terms of changing or installing new pipelines, the rising number of infrastructure upgrades is expected to impact market growth positively. For instance, in November 2022, Southland Holdings, LLC announced that a subsidiary in its Civil segment, Oscar Renda Contracting, has been awarded a USD 59 million contract to construct a water pipeline project for the Eastern New Mexico Water Utility Authority.
• In addition, the United Nations Sustainable Development Goal 6 aims to ensure access to water and sanitation for all people across the globe by 2030. It is nudging governments to take steps in the right direction. Rising government initiatives to provide safe drinking water are anticipated to positively impact the growth of the water and wastewater sensors market in the forecast period.
• The high cost of water treatment plants led to limited penetration of water quality sensors in non-industrial applications may hinder the studied market growth in the forecast period. Additionally, a lack of awareness about water quality, especially in the rural areas of developing nations, is also hindering the development of the water and wastewater sensors market.
• Moreover, the pandemic resulted in the uptake of advanced monitoring and remote technologies for water facilities and wastewater treatment plants across the globe. Further, the method of online auto-monitoring of the water temperature and pH value is being implemented at several plants with a significant reduction in on-site personnel in different industries that require wastewater treatment.