The [FURL=https://www.industryarc.com/Research/Liquid-Waste-Management-Market-Research-503648?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Liquid Waste Management Market[/FURL] size is forecast to reach US$120.1 billion by 2027, after growing at a CAGR of 3.7% during the forecast period 2021-2027. Liquid waste includes sewage along with wastewater generated from different industries. Hence, liquid waste management is employed in order to control, manage, dispose, or treat the liquid waste generated from various industries. Some of the common industries that employ liquid waste management are Oil and Gas, Paper and Pulp, Textile, Automotive, Pharmaceutical, Iron and Steel, Chemicals, Food and Beverages, and so on.Key Takeaways
Oil and Gas Industry in Liquid Waste Management Market is expected to see the fastest growth, especially during the forecast period. The major reason behind this is the increasing demand for wastewater treatment from petroleum refinery sites.
The Ministry of Petroleum and Natural Gas (MoPNG) announced that activities related to 8,363 Oil & Gas projects worth INR 5.88 lakh crore ($80.47 billion) have resumed in India since April 2020.
North America dominated the Liquid Waste Management Market in 2021, the major reason behind this is the increasing demand for wastewater treatment due to the shale gas exploration in the region in recent years.
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Liquid Waste Management Market Segment Analysis – By Geography
North America held the largest share in the Liquid Waste Management Market in 2021 up to 34%, owing to the increase in demand for liquid waste management that is generated from oil and gas production activities. For instance, the government of the USA made an announcement to continue to operations of the Alaska LNG Liquefaction Plant project worth $43 billion in 2020. The Alaska LNG represents a three-train liquefaction plant, gas treatment plant, an 800-mile pipeline. The facility is expected to export around 3.5 billion cubic feet of gas per day from Alaska’s North Slope gas fields.
Liquid Waste Management Market Drivers
Increasing demand for oil and gas production is most likely to drive the market growth
Strict government regulations to adopt wastewater treatment is most likely to drive the market growth
Liquid Waste Management Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Liquid Waste Management Market. Liquid Waste Management Market top companies are Veolia Environmental Services, SUEZ Environment SA, Xylem, Evoqua Water Technologies Corporation, Clean Harbors Inc., GFL Environmental Inc., Aqua America Inc., Hulsey Environmental Services, Morgan Group, FCC Austria Abfall Services
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