Major players in the water and waste management consulting services market are Tetra Tech Inc, Arcadis NV, WorleyParsons, Stantec Inc. and AECOM. The global water and waste management consulting service market is expected to grow from $8.
New York, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Water And Waste Management Consulting Services Global Market Report 2020-30: COVID-19 Growth And Change" - https://www.reportlinker.com/p06001461/?utm_source=GNW
1 billion in 2019 to $8.12 billion in 2020, at a compound annual growth rate (CAGR) of 0.03%. There was nominal growth in this market mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $9.72 billion in 2023 at a CAGR of 6.18%.
The water and waste management consulting services market consists of the sales of water and waste management consulting services by entities (organizations, sole traders and partnerships) that provide advice and assistance to business entities and other organizations on activities such as wastewater treatment and solid waste management. They offer expertise on processes to treat industrial waste such as solid, liquid, gaseous or radioactive substances from a wide range of industries and organizations. Only goods and services traded between entities or sold to end consumers are included.
In June 2020, Trinity Consultants, Inc., a consulting firm in engineering, EHS, and science, announced the acquisition of Vision Environment Australia (VE), an Australia-based environmental consulting firm, for an undisclosed amount. Vision Environment (VE) specializes in environmental monitoring, marine ecology, and water quality and served clients in industrial organizations that impacted marine environments across New Zealand and Australia. The acquisition will help Trinity in adding resources and capabilities that will boost the company growth. VE’s qualified staff, field equipment, and commercial vessels will help Trinity to collect real-time water quality data and help the business grow in Australia, New Zealand, and beyond. Vision Environment (VE) is an Australia-based company working in the field of water quality and marine ecology.
The water and waste management consulting services market covered in this report is segmented by waste into solid waste management; wastewater management. It is also segmented by treatment into primary treatment; secondary treatment; tertiary treatment; others, by application into municipal waste; industrial waste; others and by service into strategic solid waste management and planning; water treatment and distribution system designs; design and documentation for recycling and waste disposal facilities; environmental and social impact assessment; sewage system setup services; other services.
Insufficient funding for water and waste management is risking the water and sanitation services industry, especially in the less developed countries. According to the United Nations (UN) Global Assessment and Analysis of Sanitation and Drinking-Water (GLAAS) 2019 report that surveyed 4.5 billion people from 115 countries, in the majority of countries, the implementation of water, sanitation and hygiene policies are constrained by inadequate financial and human resources. Around 19 countries out of 115 surveyed countries reported a funding gap of more than 60% in identified needs and available funding. Out of surveyed countries, 94% of countries have policies for drinking water and sanitation, 79% have for hygiene and plans to implement these policies but less than one-sixth of countries have enough finance to implement them. Therefore, inadequate funding from local administrators, governments, and international bodies is restraining the growth of the water and waste management consulting services market.
SaaS (software-as-a-service)-based consulting is the recent trend gaining popularity in water and waste management consulting. The use of the SaaS platform is increasing in companies to deliver online services such as water quality management, EHS compliance, and carbon reporting. SaaS delivery model operates when a software vendor provides access to its software and works remotely as a web-based service. Many companies are offering SaaS to water and waste management companies to improve the operations performed by the company. For instance, Trimble offers a new SaaS program for remote monitoring of water and wastewater infrastructure. With the new SaaS program, water and wastewater utilities can access the hardware and software technologies through subscription to be utilized for remote monitoring of critical infrastructure.
The increasing industrial and municipal waste due to rapid urbanization is contributing to the growth of the water and waste management consulting services market. Due to urbanization, there would be a rapid increase in production and consumption that generates waste from several sources such as domestic wastes, commercial wastes, institutional wastes and industrial wastes. According to the World Bank report updated in September 2019, with rapid population growth and urbanization, annual waste generation is expected to increase by 70% from 2016 levels to 3.40 billion tons in 2050. According to Waste Dive, a supplier of recycling equipment, every year about 2.01 billion metric tons of municipal solid waste (MSW) is produced globally. The report also states that 40% of waste worldwide is mismanaged and is dumped or burnt in open spaces indicating that there is a huge untapped market for waste management consulting services.
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