Global Modular Sewage Treatment Plant Market: Introduction
- Of late, industrialization and the population have increased significantly across the globe. This has resulted in higher demand for sewage treatment plants (STP).
- Demand for modular sewage treatment plants has been increasing across the globe. This trend is expected to rise in the near future, as these plants offer high degree of flexibility and sustainability. Thus, industries are focusing on providing cost-effective ways to install modular sewage treatment plants.
Key Drivers and Restraints of Modular Sewage Treatment Plant Market
- Increase in demand for compact and economical sewage treatment plants in various industries in developing and developed economies is expected to drive the global modular sewage treatment plant market. Modular sewage treatment plant is economical. This feature of modular sewage treatment plant makes its adoption preferable over alternate technologies.
- Involvement of less capital expenditure and requirement of minimal maintenance service are some of the key parameters anticipated to boost the demand for modular sewage treatment plants during the forecast period
- Modular sewage treatment plants are pre-fabricated. These plants can be shipped by trucks to remote locations. After delivery to the worksite, the equipment is ready to install, which significantly reduces site construction time, expense, and associated delays. These features of modular sewage treatment plants are projected to boost the demand for these plants between 2020 and 2030.
- Technological innovation in design of the modular sewage treatment plant to optimize efficiency is projected to propel the global modular sewage treatment plant market between 2020 and 2030. However, lack of awareness about the benefits associated with modular sewage treatment plants in developing countries is anticipated to hamper the modular sewage treatment plant market.
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COVID-19 Impact Analysis
- Governments of various countries have enforced nationwide lockdowns as part of measures to limit the spread of the COVID-19 pandemic. During these lockdowns, several restrictions have been placed on movement of individuals. Furthermore, several end-user industries such as manufacturing have halted their production facilities.
- Industrial, commercial, and residential are major end-users of modular sewage treatment plants; therefore, restriction on manufacturing activities due to lockdowns has negatively impacted the modular sewage treatment plant market.
Industrial End-user Segment to Hold Major Share of Global Market
- The global modular sewage treatment plants market can be segmented based on end-user and region
- Based on end-user, the global modular sewage treatment plant market can be segregated into industrial, residential, and commercial. Modular sewage treatment plants can be extensively used to treat industrial waste in order to clear micro-pollutants. They also help resolve water scarcity issues in industrial areas.
- Demand for modular sewage treatment plant is consistently rising in industries across the globe due to its low installation cost and minimal requirement of site infrastructure. Thus, the industrial segment is expected to hold major share of the global modular sewage treatment plant market during the forecast period.
Asia Pacific to Constitute Major Share of Global Sewage Treatment Plant Market
- Based on region, the global modular battery market can be segregated into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America
- Asia Pacific is expected to hold vital share of the global modular sewage treatment market during the forecast period due to rapid industrialization and urbanization in the region. Modular sewage treatment plants are extensively used in industries, as they help increase the micro waste treatment efficiency and reduce design and construction time by 60% as compared to conventional treatment plants.
- Middle East & Africa is projected to hold marginal share of the global modular sewage treatment plant market during the forecast period
- The modular sewage treatment plant market in North America is likely to expand at a stable pace, owing to the increase in the demand for low-cost and compact sewage treatment plants.
- The modular sewage treatment plant market in Latin America and Europe is anticipated to expand at a sluggish pace during the forecast period