Industrial Water Service Market Size and Forecast to 2027Posted by karthik reddy on November 15th, 2022 The global industrial water service market size was valued at USD 21.6 billion in 2021, and it is estimated to reach USD 32.4 billion by 2027, with a registering CAGR of 6.1% during the forecast period. Market Overview: Industrial water is used for fabricating, processing, washing, diluting, cooling, or transporting a product. The water is used by smelting facilities, petroleum refineries, and industries producing chemical products, food, and paper products. The industrial water use of water in processes designed to convert materials of lower value into forms having great usability and value. The service water is water that does not meet drinking water quality standards. It is mainly used in resource-intensive industries. The main factors that have considerably increased the demand for the industrial water service market. The increasing demand for smart services in smart cities for water-related services is driving the market’s revenue. Increasing the high utilization of renewable energy resources. The growing demand for uninterrupted, seamless water supply in industries to cater to rising demand for various end products is the major factor to drive the market growth. The increasing global population drives the market growth. The high cost associated with installation and maintenance is the major factor restraining market growth. To Know more read: https://www.marketdataforecast.com/market-reports/industrial-water-service-market The industrial water service market is segmented based on by:
Based on the service type: The Operation & Process Control segment was recorded as the largest market share in the industrial water service market in 2022 and it is anticipated to grow significantly during the forecast period.
Based on the application: Filtration held the largest share in the industrial water service market in 2022 and it is anticipated to grow significantly during the forecast period.
Based on the end-use: The Food & Beverages segment held the largest share market in the industrial water service market in 2022 and it is anticipated to grow significantly during the forecast period. Geographical Analysis: The industrial water service market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East & Africa, and the rest of the world. North America is the largest growing region in the industrial water service market and is excepted to grow significantly during the forecast period. North America has a high availability in the countries such as the US and Canada. The reason for this dominance of the region is the growth and popularity of the industrial water service market increasing investment for research and development processes and adoption solutions in the region and this is likely to create growth in the region’s market. The growing demand for smart water services drives the region’s market growth. The Asia Pacific is excepted to be growing lucratively in the industrial water service market. Request Sample: https://www.marketdataforecast.com/market-reports/industrial-water-service-market/request-sample Impact of COVID-19 On the Market Covid-19 hugely affected the industrial water service market growth. The COVID-19 pandemic has affected the water sector impacting companies providing water equipment and technologies in the industrial sector COVID-19 will have an occasional effect on the industrial water service market. About Us: Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs. Contact Us: Phone: +1-888-702-9626 Email: contact@marketdataforecast.com Like it? Share it! More by this author |