This is due to the worldwide recession and shrinking capital budgets.
The target of US$9.1 billion will result from some larger markets growing enough to offset substantial reductions in smaller markets, the report says. There will be a substantial reduction in the US$430 million semiconductor market, but this will be more than offset by a US$90 million increase in the drinking water sector. This does not include desalination which adds another US$200 million increase. Demand in Asia for better water will boost the residential/commercial market, while water and wastewater infrastructure programmes in both the US and China are likely to be accelerated as part of a stimulus package for each of the economies.