Siemens still sees water industry growth ahead
Siemens continues to see favorable prospects in its water business despite the current economic downturn, according to Jens Wegmann, CEO of the Industrial Solutions Division and responsible for the water business at Siemens.Speaking at the Weftec exhibition in Chicago in late October, Wegmann observed, "Urbanization and water shortage are long-term trends which will determine the need for water treatment and recycling solutions. We are sticking to our view that the markets for water treatment will continue to grow worldwide."
The accessible market volume worldwide for Siemens amounts to some US$ 49 billion (2007).
"Whereas attracting investment capital for individual major projects is likely to become more difficult", said Wegmann, "we continue to see opportunities for growth in general business with products and services aimed at modernizing and expanding existing installations."
In North America, for example, growth in projects for reusing water is expected in order to eliminate shortages in municipal and industrial water supplies. Investments are also planned in branches of industry such as open-cast mining, paper production or the food industry, where Siemens is active and water is a crucial production factor.