Many areas of the construction industry have recently experienced rapid growth, including the wastewater treatment industry. Experts predict that this rapid growth will continue in the coming years.
Estimates of Wastewater Treatment Construction Industry Growth
Experts predict that between 2021 and 2025, the wastewater treatment services market will grow by $18.74 billion. If this prediction is accurate, it would mean a compound annual growth rate (CAGR) of 6.41 percent.
Reasons for the Industry Growth
There are multiple reasons that experts cite as reasons for the growth of the wastewater treatment industry.
Industrialization
To start, there is rapid industrialization. As part of that industrialization, there is a growing demand for services to treat wastewater.
Zero Liquid Discharge Initiatives
The initiatives for zero liquid discharge will also be a driving factor.
Strict Environmental Regulations
Strict environmental regulations will also play a role.
Infrastructure Growth
The growth of infrastructure is also an influence on the rise of this industry. This should also boost construction salaries. Remember that the infrastructure plan in the American Jobs Plan called for $111 billion allocated for wastewater, stormwater, and water.
Green Infrastructure
Green infrastructure, in particular, plays a role, as it combines the cause of infrastructure with some of the other eco-initiatives, such as strict environmental regulations. One specific example of this comes from the WIFIA program (Water Infrastructure Finance and Innovation Act). It allocates up to $5.5 billion in support of $11 billion worth of water infrastructure projects.
General Permits for Storm Water
The 2021 Multi-Sector General Permit from the EPA for stormwater discharges from industrial activity also drove growth. This had some changes from the 2015 permit as part of the industry growth.
Live Events
The return to live events may also increase the demand for wastewater treatment, as live events produce wastewater.
Lead and Copper Rule Delay
The delay of the lead and copper rule is also relevant. As a refresher, the Lead & Copper Rule Revision’s start date was delayed for negotiations. The main concern was that the maximum lead levels were too high.
Cybersecurity
Even cybersecurity plays a role. This was highlighted by the hack of a Florida water treatment plant in February 2021.
Industry Growth and Construction Salaries
As the wastewater treatment industry continues to grow, it will need to recruit new talent to fill positions. This should lead to high demand and likely high construction salaries.
Companies in the industry will need to offer competitive salaries and other benefits to attract top talent. They will also need to solidify their recruiting strategies, potentially including hiring recruiters.
Conclusion
The wastewater treatment industry has grown in recent years, and experts predict it will continue to do so through at least 2025, if not beyond. Numerous factors are at play, from infrastructure to cybersecurity to regulations.
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