The Future of Water

Your Water Questions Answered: Bonds, Energy, Irrigation, and Tech

Bluefield Research — Tue, 14 Apr 2026 13:19:00 +0000

What do water investors, utilities, and infrastructure planners most want to know right now? In this episode, Reese Tisdale is joined by Bluefield's VP & Managing Director Keith Hays to tackle the top questions submitted by listeners on LinkedIn in this mailbag episode.

From climate finance and sustainable bonds to irrigation infrastructure, emerging technology, and energy costs, the conversation covers a lot of ground. Reese and Keith bring Bluefield's latest research and market perspective to each question—with some straight talk along the way.

Key questions addressed:

What is the investment landscape for water in a climate context, and where do green and blue bonds fit in?
Could distributed energy resources and storage change how irrigation districts fund capital projects?
What emerging water technologies inspire Bluefield most?
What is the real impact of energy market volatility on the water sector?

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If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Chapters

(00:00:00) - Water Fact
(00:00:23) - Episode Introduction
(00:01:31) - Conversation: Keith Hays
(00:29:27) - What Caught Reese's Eye
(00:34:04) - Wrap-Up

Why Are U.S. Water and Sewer Bills Rising Faster Than Inflation?

Bluefield Research — Tue, 31 Mar 2026 13:02:24 +0000

U.S. household water and sewer bills rose 5.1% in 2025—the steepest annual increase in five years and a 24.2% jump since 2020. Rates are rising faster than general inflation, with chemicals, energy, labor, and construction all contributing to sustained upward pressure.

Bluefield analyst Megan Bondar joins Reese Tisdale to unpack new data covering 50 major U.S. cities. The conversation examines why water and wastewater rates are moving at different speeds, how regional factors shape what households pay, and what structural forces are locking in higher costs for the long term.

Key questions addressed:

What's really breaking in the utility cost model as rates outpace inflation?
What does the divergence between water and wastewater rates signal about where utilities are being forced to spend?
At what point do rising bills become a real affordability crisis—and how close are we?
Why do water bills vary so dramatically by location, and what does that reveal about the U.S. water sector?
What structural forces—infrastructure, climate, and regulation—are locking in higher rates going forward?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

U.S. Municipal Water & Sewer Rate Index

Chapters

(00:00:00) - Water Fact
(00:00:37) - Episode Introduction
(00:01:35) - Conversation: Megan Bondar
(00:24:50) - What Caught Reese's Eye
(00:27:55) - Wrap-Up

Water for Agriculture: An US$84 Billion Irrigation Opportunity

Bluefield Research — Tue, 17 Mar 2026 12:54:55 +0000

At more than 70% of U.S. water withdrawals, agriculture is one of the most significant drivers of water demand in the country. In this episode, host Reese Tisdale sits down with Bluefield Analyst Olivia Kranefuss to unpack her newly released report, Water for U.S. Agriculture: Irrigation Trends, Technology Adoption, and Market Forecasts, 2026–2031, and the US$84 billion transition reshaping how the market spends over the next several years.

The conversation covers where capital is flowing across a cost structure dominated by energy and labor, the key shifts underway in technology adoption and company strategy, and what the M&A moves of major players signal about where the market is heading. Key questions addressed include:

What's driving an US$84 billion spending shift in a relatively mature market?
Across the full cost structure—equipment, labor, energy, digital tools—where are farmers and irrigation providers actually allocating capital?
How does the fragmented, family-farm-dominated demand base shape technology adoption and vendor strategy?
As the irrigation sector faces a strategic divide, is the market shifting from hardware to software-driven value creation?
What's driving rapid growth in digital irrigation technologies, and how big is the opportunity relative to traditional equipment?
What structural barriers are slowing adoption—and what do companies need to understand before entering this market?
Where are the biggest opportunities ahead for equipment suppliers, technology companies, and infrastructure providers?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

The US$10 Billion Market Nobody Talks About: Chemicals for Water Treatment

Bluefield Research — Tue, 03 Mar 2026 14:34:21 +0000

Chemicals used to treat water is a US$10 billion market hiding in plain sight—fragmented, consolidating, and far more strategically interesting than the name suggests. Bluefield's latest water treatment chemicals analysis mapped nearly 500 companies across the space. In this episode, Bluefield analyst Caroline Vauclain joins host Reese Tisdale to unpack what she found—including why the top 10 players control just 30% of facilities and 80% of companies run only one to two locations.

The conversation covers five key questions shaping this market:

With nearly 500 companies mapped, how fragmented is the water treatment chemicals market—and what's most surprising about the landscape?
Chemical prices are up 36% since 2019—is it inflation, supply disruptions, or something else driving the increase?
Hawkins made 16 acquisitions in five years, USALCO is similarly aggressive — what's fueling all this M&A activity?
What's fueling the wave of M&A activity, with Hawkins logging 16 acquisitions in five years and private equity-backed firms driving 20 of 78 deals since 2020?
Why are chemical companies like Kemira and Ecolab suddenly acquiring software and digital monitoring firms?
How did Cargill, Morton Salt, and bioethanol producer POET end up in the water treatment business?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Debunking the Myths of the Data Center Water Footprint

Bluefield Research — Tue, 17 Feb 2026 14:20:57 +0000

Artificial intelligence (AI)-driven data center growth is reshaping not only electricity markets, but water demand across the value chain. In this episode, podcast host Reese Tisdale sits down with Research Director Amber Walsh to discuss the broader water footprint of data centers—both onsite and offsite—and why the conversation is shifting beyond cooling towers to the power generation fleet.

While new AI cooling systems are becoming more efficient and, in some cases, shrinking onsite water intensity, the surge in electricity demand is driving a much larger indirect water footprint. From delayed coal retirements to new natural gas capacity and nuclear recommissioning, the power sector’s role in supporting data center growth is raising important questions about long-term water exposure.

Key questions addressed:

Is the AI-driven data center boom redefining water risk—from municipal cooling systems to the power generation fleet?
Are data centers triggering a structural reversal in industrial water demand?
Which fuel pathway—natural gas, nuclear, or extended coal—creates the most material water exposure over the next decade?
Are we concentrating data center expansion in regions where power is affordable but water is constrained—and what does that mean long term?
Where do market opportunities exist across the value chain?
Do data centers use a lot of water?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

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When States Lose Veto Power: The New Water Policy Landscape

Bluefield Research — Tue, 03 Feb 2026 14:18:50 +0000

Significant policy shifts are reshaping water infrastructure investment across North America. Greg Goodwin, Bluefield Research Senior Research Director, joins host Reese Tisdale to discuss his latest semi-annual policy review covering regulatory changes, budget developments, and emerging frameworks in the U.S. and Canada. The conversation examines a two-speed regulatory environment where traditional pollutant standards face relief while PFAS enforcement intensifies.

The episode explores critical deadline pressures around the Colorado River, where Seven Basin States missed their November target and face a February 14th federal intervention threshold. Greg also contrasts U.S. and Canada infrastructure approaches, highlighting Canada's CAD$54 billion supply-driven investment strategy that builds water capacity ahead of demand tied to housing targets. Key topics include:

Two-speed regulatory reality: traditional pollutant relief versus PFAS enforcement intensification
State veto power elimination and project acceleration across energy, agriculture, and transportation sectors

Colorado River deadline crisis and potential federal intervention scenarios

Canada's supply-driven infrastructure model and housing-tied water capacity expansion

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

U.S. & Canada Water Policy Review: Key Developments and Market Outlook, H1 2026

Chapters

(00:00:00) - Water Fact
(00:00:37) - Episode Introduction
(00:01:48) - What Caught Reese's Eye
(00:04:02) - Conversation: Greg Goodwin
(00:23:52) - Wrap-Up

Water Runs on Power: The Energy Lever Utilities Can’t Ignore

Bluefield Research — Tue, 20 Jan 2026 14:32:31 +0000

Energy represents one of the largest and most manageable cost centers for water and wastewater utilities—accounting for 10%–40% of operating budgets. Unlike other operational expenditures like labor, utilities can modify the amount of energy used and how much it costs by choosing the right combination of technologies. As electricity demand in the global water sector is projected to reach 4%–8% of total global consumption by 2040, utilities face mounting pressure to reduce costs, manage volatility, and meet carbon reduction targets.

In this episode, Bluefield senior analyst Maria Cardenal joins host Reese Tisdale to discuss findings from a new global report on energy optimization across water and wastewater operations. The conversation covers:

Where the biggest savings lie: Pump optimization and aeration control represent 70%–80% of total energy consumption, with digital solutions delivering 15%–40% energy savings and payback periods as short as 2–3 months
Regional adoption patterns: Why Europe is leading through regulatory mandates like the EU Urban Wastewater Treatment Directive, while North America remains ROI-driven with uneven uptake
The technology shift: How utilities are moving from hardware-first approaches to software-led optimization built on AI, digital twins, and advanced analytics
Hidden benefits beyond energy bills: Extended asset life, deferred capital expenditures, and reduced maintenance costs that often represent the largest financial returns

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Energy Optimization for Water Utilities: A Digital Playbook for Cost and Carbon Reduction

Year-End Water Check: AI's Thirst, Aging Infrastructure, and 2026 Contrarian Bets

Bluefield Research — Tue, 23 Dec 2025 13:34:33 +0000

As 2025 wraps up, we're closing out the year with five big questions shaping the water sector—and a few bold predictions for what's ahead. In this episode, host Reese Tisdale is joined by Bluefield VP & Managing Director Keith Hays to tackle the trends and challenges defining water investment right now.

1. Data centers are growing 12.2% annually and driving the U.S. industrial water market. Is AI's thirst the crisis or the opportunity the water sector has been waiting for?

2. Housing construction in the U.S. dropped 15% since 2022, breaking the historic model of 'new homes = new pipes.' If growth isn't driving investment anymore, what is?

3. Europe's betting big on semiconductors, hydrogen, and EV batteries with its Water Resilience Strategy. Are they building infrastructure for industries that might not materialize—or positioning for the next industrial revolution while the U.S. fumbles?

4. Midstream water in oil and gas has gone from cyclical commodity play to structural necessity. Did the water sector accidentally become geopolitically important, or have they just not realized it yet?

5. Water bills have increased 24% in five years, and some cities are hitting EPA affordability thresholds. What breaks first—the infrastructure or the public's willingness to pay?

Keith and Reese also place their contrarian bets for 2026 and tackle a speed round on what will define the next decade, where smart investment is headed, and who holds more power in 2035: those who own the infrastructure, or those who own the customer.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

What Does a Decade of Fair Market Deals Tell Us About Water’s Future?

Bluefield Research — Tue, 09 Dec 2025 14:10:04 +0000

Fair Market Value (FMV) has become a critical—yet often misunderstood—tool for addressing fragmentation across the U.S. water sector. Designed to give municipalities a clearer path and a cleaner valuation when selling assets, FMV is now shaping deal flow, policy debates, and competitive strategies nationwide.

In this episode of The Future of Water, podcast host Reese Tisdale is joined by Bluefield colleague Megan Bondar, who has just wrapped up analysis on FMV and its growing role as a legislated mechanism to streamline water and wastewater utility acquisitions. Bluefield's water experts get into why FMV is back in the spotlight, how it differs from traditional acquisitions, and what more than a decade of deal activity reveals about the road ahead.

Key discussion points:

What prompted Bluefield to undertake this updated Fair Market Value analysis now?
What exactly is “Fair Market Value,” and why does it matter in utility M&A?
What are the most significant impacts and trends emerging from a decade of FMV deals?
Where is FMV being used most today, and how is the competitive landscape evolving?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Fair Market Value: Benchmarking a Decade of Water Utility Acquisitions

From Landfill Capacity to PFAS: The Pressures Reshaping Biosolids Management

Bluefield Research — Tue, 18 Nov 2025 15:17:01 +0000

Biosolids are an unavoidable byproduct of wastewater treatment, and U.S. utilities are facing increasing challenges managing them amid tightening landfill capacity, rising hauling costs, and growing concerns about contaminants like PFAS. With 6.3 million dry metric tons produced every year, biosolids are becoming one of the fastest-growing operating expenses for wastewater utilities.

In this episode of The Future of Water, host Reese Tisdale is joined by Bluefield’s Pat Byrne to break down the current state of biosolids management in the U.S.—from landfilling and incineration to beneficial use pathways—and to highlight the regional disparities, regulatory pressures, and emerging technologies reshaping utility strategies.

What biosolids are, how they’re produced, and the main disposal and beneficial use pathways utilities rely on.
The rising challenges of landfilling and incineration, including high costs, methane emissions, aging facilities, and limited capacity.
The growing influence of PFAS, microplastics, and pharmaceuticals, and why utilities are passive receivers of these contaminants.
How biosolids have become one of the fastest-growing operating costs, with annual spending rising from US$2.5B in 2025 to US$4.8B in 2035.
Significant regional disparities, from high costs and tight capacity in the Northeast to heavier landfill reliance in the Southeast.
New technologies and delivery models—from drying and dewatering to pyrolysis, gasification, SCWO, and DBOOM structures—reshaping future strategies.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

U.S. Municipal Biosolids Management: Drivers, Trends, and Forecasts, 2025–2035

Is Water Reuse Going Mainstream?

Bluefield Research — Tue, 04 Nov 2025 14:22:13 +0000

In this episode, host Reese Tisdale is joined by Bluefield analyst Megan Bondar to unpack the pressures and opportunities shaping water reuse—a cornerstone of resilient water supply planning that’s gaining momentum across the U.S. Bluefield's latest analysis projects US$47.1 billion in CAPEX for municipal reuse infrastructure through 2035, highlighting a shift in how utilities and cities are thinking about long-term water resilience.

From California's drought-driven projects to saltwater intrusion along the East Coast, water reuse is expanding. In this conversation, Reese and Megan explore what’s driving this growth—and what it means for utilities, communities, and the industries that depend on them.

In this episode:

What’s behind the surge in water reuse investment—and how it reflects a new mindset around resilience.
How utilities and policymakers are addressing challenges like cost, permitting, and public perception.
Why potable reuse is emerging as a larger share of new capacity additions by 2035.
How regional factors—from groundwater depletion in the West to saltwater intrusion in the East—are shaping different approaches.
The role of industrial demand, especially from data centers, in accelerating public-private partnerships for reuse.
What separates the leaders from the laggards in planning, financing, and executing reuse projects.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

U.S. Municipal Water Reuse: Market Trends and Forecasts, 2025–2035

What’s at Stake When Cyber Threats Target Water Infrastructure?

Bluefield Research — Tue, 21 Oct 2025 13:35:10 +0000

Water systems—once considered too small or obscure to be hacked—are now squarely in the crosshairs of cyber actors. In recent months, Bluefield Research has tracked a surge of cyber activity targeting water and wastewater utilities around the world, from the U.S. Cybersecurity and Infrastructure Security Agency’s (CISA) release of 32 new control system advisories to Poland’s launch of a national cybersecurity framework for water utilities.

In this episode of The Future of Water, Bluefield’s Barcelona-based Maria Cardenal and Boston-based Leigh Ramsey join host Reese Tisdale to unpack one of the most pressing—and overlooked—threats facing the water sector: cybersecurity. Our water experts explore where these threats are emerging, how utilities are responding, and what the next phase of digital resilience looks like.

Key discussion points include:

What’s really at stake when critical infrastructure is under attack
The biggest vulnerabilities in today’s water systems—from legacy hardware to weak IT–OT segmentation
Real-world examples from the U.S., Norway, and Poland that show how cyberattacks on operational assets are evolving
How governments are responding—including Poland’s US$1.1 billion cybersecurity initiative for water and wastewater systems
How smaller utilities are managing cybersecurity with limited resources
The role of new regulations—from the EU’s NIS2 Directive to state-level initiatives in the U.S.
Why cybersecurity must become part of asset management and workforce training, not an afterthought

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

How Did Midstream Water Become a US$26 Billion-a-Year Business?

Bluefield Research — Tue, 07 Oct 2025 13:18:51 +0000

Today's episode dives into one of the most critical—yet often overlooked—pieces of the U.S. energy and water puzzle: midstream water in oil and gas. Host Reese Tisdale is joined by Sophie Washington, Senior Analyst at Bluefield Research, who recently authored Bluefield's new Insight Report: U.S. Midstream Water for Hydraulic Fracturing: Market Trends, Opportunities, and Forecasts, 2025–2030.

In this conversation, Reese and Sophie unpack how the midstream water sector has evolved from a cost center into a strategic enabler for U.S. shale producers. They explore what’s driving the US$156 billion market through 2030, how water reuse and infrastructure investments are reshaping operations, and why water management in U.S. shale has become a key part of the global energy story.

In this episode, Bluefield's water experts discuss:

What is midstream water?
How large is the market?
Why should we care about this?
What's driving market growth and change?
Where are the regional hotspots?
Who are the key players and how is the competitive landscape changing?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

TAQA’s US$1.2 Billion Move: What Does GS Inima Bring to the Global Water Market?

Bluefield Research — Tue, 23 Sep 2025 13:36:56 +0000

Abu Dhabi’s TAQA is acquiring Spain-based GS Inima for US$1.2 billion, creating one of the most interesting moves in the global water sector this year. TAQA has long been known as a power and desalination leader in the Gulf, while GS Inima brings decades of experience managing water projects across Europe and Latin America. Together, the companies form a new global player with nearly 50 assets across 10 countries.

In this episode, podcast host Reese Tisdale and Bluefield Senior Analyst Antonio del Olmo break down the deal and its implications for the global water sector:

What does TAQA gain by acquiring GS Inima’s global portfolio?
How does exposure to Europe and Brazil shift its risk profile and strategy?
Why is Brazil attracting so much private investment in water, and what challenges come with it?
Do GS Inima’s European projects provide a counterweight to emerging market risks?
What does this acquisition signal for competition with global players like Veolia and ENGIE?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

TAQA Expands Strategic Footprint Through GS Inima

What Do 2025 Capital Improvement Plans Reveal About Water Utility Spending?

Bluefield Research — Tue, 09 Sep 2025 13:14:29 +0000

Bluefield Senior Analyst Charlie Suse joins host Reese Tisdale to unpack Bluefield’s latest analysis of municipal utility capital improvement plans (CIPs) across the U.S. and Canada. Covering 777 utilities across all 50 U.S. states and 8 Canadian provinces, the study captures over US$400 billion in planned investment through 2034.

With five years of data (2021–2025) and more than 40,000 projects segmented across stormwater, wastewater, and drinking water, these plans are more than just documents—they’re roadmaps for billions in spending, revealing priorities, funding expectations, and regulatory pressures that shape the water sector.

Key questions addressed in this episode:

Why did Bluefield undertake this capital improvement plan analysis?
How did Bluefield approach the methodology and data gathering?
What does the spending outlook look like through 2034?
Which segments and utilities stand out as the biggest opportunities?
What are the broader takeaways for utilities, vendors, and investors looking ahead?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Why Don’t We Care About Water?

Bluefield Research — Tue, 26 Aug 2025 12:40:41 +0000

This week, podcast host Reese Tisdale takes the mic solo to ask a question that’s been bothering him: Why does no one care about water?

Reese steps away from the usual market forecasts and company strategies to dig into the bigger picture—the hidden value of water, the cracks showing in our systems, and why the most essential resource on earth is so often overlooked.

From the invisible gallons behind the food we eat and the clothes we wear, to the staggering imbalance in federal spending, to the mounting pressure from climate, infrastructure, and population growth—this episode shines a light on the urgency of water and the opportunities to adapt.

Topics covered include:

Why water is taken for granted in the developed world
The hidden water footprint behind everyday products
How clean water infrastructure investments have doubled U.S. life expectancy
Cracks in the system: leaks, aging pipes, and new demands from data centers and population growth
The human factor: affordability, politics, and shifting utility budgets
Opportunities in reuse, desalination, digital tools, and new financing models

Reese closes with a reminder: there’s no substitute for water. If climate is the shark, water is the teeth. And while the challenges are real, so too are the opportunities—making now, in a strange way, the best time to be in the water sector.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

The Future of Water: Securing One Thing We Can't Replace

Industrial Water Showdown: Comparing Opportunities Across Europe and the U.S.

Bluefield Research — Tue, 12 Aug 2025 13:11:26 +0000

This week, podcast host Reese Tisdale is joined by Boston-based Senior Analyst Amber Walsh and Barcelona-based Analyst Zineb Moumen to compare two of the world’s largest industrial water markets. With the release of Bluefield’s new industrial water forecasts and market trends analysis, they explore how the U.S. & Canada and Europe stack up across market size, growth, and opportunity.

From semiconductor fabs and data centers to food, chemicals, and power generation, Bluefield's water experts discuss the sectors driving water spend, the regulatory and incentive frameworks shaping each market, and the geographic hotspots for investment. They also examine the CAPEX vs. OPEX dynamics and how companies can position themselves for success in two very different market environments.

Key questions explored in this episode:

How do the U.S. & Canada and Europe industrial water markets compare in size and growth?
Which industrial sectors are creating the biggest water opportunities?
What role do regulations and incentives play in shaping industrial water investment?
Where are the geographic hotspots?
Where’s the bigger opportunity: CAPEX or OPEX?
How should companies position themselves for success?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Canada’s New Water Agency and the 'Big Beautiful Bill': What's Next for Water Funding in North America?

Bluefield Research — Tue, 29 Jul 2025 13:32:35 +0000

From bold new initiatives in Canada to proposed federal budget cuts in the U.S., major policy shifts are reshaping the water landscape across North America. In this episode, Bluefield’s water experts unpack what these changes mean for funding, regulation, and the future of water infrastructure.

Canada’s launch of a national Water Agency and CAD$650M Freshwater Action Plan marks a turning point, while in the U.S., the “Big Beautiful Bill” and EPA workforce cuts raise big questions about the direction of federal support. Bluefield's President & CEO Reese Tisdale and Senior Research Director Greg Goodwin dig into the potential impacts for utilities, technology providers, and the broader market.

Key questions explored in this episode:

What’s happening in Canada, and why does it matter?
What’s the status of the “Big Beautiful Bill”, and what does it mean for water?
How will State Revolving Fund (SRF) cuts impact utilities and the market?
EPA layoffs—what does this mean for water science and regulation?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

What’s Driving the Market for Decentralized Water Treatment?

Bluefield Research — Tue, 15 Jul 2025 13:07:07 +0000

In this episode of The Future of Water, Bluefield Senior Analyst Amber Walsh joins host Reese Tisdale to break down Grundfos’s recent acquisition of Newterra and what it signals for the future of decentralized water treatment. Amber not only unpacks the deal itself—Grundfos’s fifth treatment-related acquisition since 2020—but also explores the broader competitive landscape for onsite treatment solutions.

Decentralized treatment, also referred to as onsite water management, is gaining traction among industrial, and increasingly municipal and commercial, users. But why? What’s driving solutions providers like Grundfos to expand into treatment? And what does this mean for customers?

We get into it all—plus the market opportunities, players to watch, and the underlying trends shaping the shift toward modular systems.

Key Topics Covered:

Grundfos + Newterra: Why the world’s largest pump manufacturer is acquiring a U.S.-based modular treatment firm.
Strategic Expansion: A look at Grundfos’s treatment push—from Eurowater and MECO to the recent acquisition of Culligan’s C&I business.
Industrial Market Growth: U.S. industrial water market projected at US$22.9B in 2025, with high-growth segments in pharma, data centers, and food & beverage.
Why Decentralized?: Faster deployment, on-site reuse, risk outsourcing—meeting demands in a changing regulatory and infrastructure landscape.
Who Else Is Playing?: From Saur’s 13 acquisitions since 2020 to Xylem’s Evoqua acquisition, to PE-backed firms building up treatment players—Amber outlines the rising competition.
What’s Next: M&A, lifecycle services, digital integration, and a growing focus on water reuse are transforming the treatment ecosystem.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

How Investor-Owned Utilities Are Reshaping the U.S. Water Market Through M&A?

Bluefield Research — Tue, 01 Jul 2025 13:19:45 +0000

Today’s guest, Bluefield Analyst Megan Bondar, joins host Reese Tisdale to unpack the growing role of investor-owned utilities (IOUs) in the U.S. water sector. From calculating market share to tracking M&A activity and geographic expansion, Megan brings fresh insights into how IOUs are positioning themselves in a fragmented market of 49,000 drinking water and 18,000 wastewater systems.

Though IOUs currently serve only about 5% of the U.S. population, their influence is expanding—through acquisitions, capital investments, and shifting ownership strategies. This episode also explores how consolidation is playing out in different forms, including municipal-to-municipal deals and the rise of quasi-public entities.

This episode answers key questions:

Who are the IOUs in the U.S., and what’s their footprint?
How are IOUs reshaping the water market through M&A?
What are the capital strategies behind IOU growth?
What role is private equity playing in this sector?
How are regional realignments and exits redefining competition?

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How is Europe's Water Sector Responding to Climate and Regulatory Pressure?

Bluefield Research — Tue, 17 Jun 2025 13:13:19 +0000

Bluefield Senior Analyst Antonio del Olmo joins host Reese Tisdale to share insights from Bluefield's recent research across European countries, including Italy, the Netherlands, France, and Spain. This episode explores the evolving landscape of Europe’s water sector—from climate shocks to regulatory shakeups—and what it all means for utilities, investors, and technology vendors. The conversation highlights what specific regions are focusing on, the biggest challenges they’re facing, and how water sector stakeholders are responding.

Bluefield’s water experts unpack key trends, including:

Why Europe’s seemingly mature water sector is facing a wave of disruption—from climate shocks and regulatory pressure to investment churn and digital transformation
How cracks are emerging in energy reliability, water loss, and the digital divide across countries
The role of EU directives versus national implementation in shaping infrastructure strategy
Where the biggest opportunities lie across digital water, reuse, resilience, and asset renewal
How French giants like Veolia, Suez, and Saur are shifting strategies to lead in this evolving landscape
Why PFAS regulations, sludge treatment requirements, and infrastructure M&A may be the next big catalysts

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Quenching High Tech's Thirst: The Rising Water Demands of Data Centers and Semiconductors

Bluefield Research — Tue, 03 Jun 2025 13:23:28 +0000

In this episode, host Reese Tisdale is joined by Bluefield Senior Analyst Amber Walsh, who shares insights from her latest research on the growing water demands of high tech. With billions in investment flowing into semiconductor fabs and data centers, these sectors are becoming major players in the water space—and are quietly reshaping infrastructure strategy from the ground up.

Bluefield’s water experts unpack key trends, including:

The increasing reliance on ultrapure water and advanced reuse systems in next-gen semiconductor manufacturing.
How the rise of artificial intelligence is intensifying thermal loads, forcing data centers to adopt more water-intensive cooling technologies—and driving new investment in water management.
The emergence of Water-as-a-Service models and public-private partnerships, as firms like Intel, Microsoft, and Amazon Web Services rethink how they finance and manage water infrastructure.

This episode offers a clear view of how data centers and semiconductor fabs are becoming central to the conversation around water strategy—and why utilities, investors, and vendors should be paying close attention.

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Water Metering’s Digital Shift: Platforms, Analytics, and AI Integration

Bluefield Research — Tue, 20 May 2025 13:10:56 +0000

In this episode of The Future of Water, host Reese Tisdale is joined by Bluefield Analyst Christine Ow to explore one of the fastest-evolving segments in the water sector: metering.

Christine shares insights from Bluefield's new report, Global Water Metering Outlook: Evolving Technology Trends, Business Models, Competitive Landscape, and Leading Companies, which offers a detailed view of the US$6.8 billion global metering market. With digital transformation accelerating, water meters are no longer just endpoints—they’re becoming the digital backbone of utility networks.

The discussion highlights how business models are shifting toward subscription-based offerings, how telecom players are entering the space, and how leading vendors are leveraging analytics and AI to create new value for utilities and customers alike.

Key topics covered:

The shift from traditional meter replacement cycles to subscription-based models
The entry of telecom players supporting smart meter rollouts, especially in Europe
How vendors are integrating analytics and artificial intelligence to deliver more than just water measurement
Market-specific trends, including policy shifts in the U.S., AMP8 in the U.K., and funding in Spain
Why static and ultrasonic meters are gaining traction in mature markets as costs decline

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Big Spend, Bigger Stakes: The Next 10 Years in U.S. Water & Wastewater Treatment Infrastructure

Bluefield Research — Tue, 06 May 2025 13:11:51 +0000

In this episode of The Future of Water, Reese Tisdale is joined by Bluefield Senior Analyst Charlie Suse to break down U.S. municipal water and wastewater treatment CAPEX forecasts through 2035.

Bluefield’s latest market model projects US$515 billion in treatment infrastructure capital expenditures, with spend expected to grow from US$37 billion in 2025 to over US$57 billion by 2035—driven by aging assets, stricter regulatory standards, and shifting service demands.

Together, Reese and Charlie dig into the methodology behind the forecast, which incorporates asset inventories for over 75,000 treatment plants, EPA data across all 50 states, and detailed spending breakouts by project type, utility size, and asset category. They also explore:

Why nearly 80% of investment will go toward upgrades and rehab rather than new builds
Why mid-sized utilities represent a key growth opportunity for infrastructure and technology providers
How the Southern U.S.—especially Texas and Florida—is both a growth engine and a high-risk investment zone
The uneven and uncertain rollout of IIJA funding, with only 14% of appropriated funds distributed so far

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Water in Transition: Signals From the Top 50 Companies

Bluefield Research — Tue, 22 Apr 2025 13:36:19 +0000

Bluefield’s latest snapshot of the top 50 publicly traded water companies shows a sector still growing—but with turbulence under the surface. In this episode, host Reese Tisdale digs into Bluefield's Q1 2025 snapshot of the top companies in water, highlighting how they are navigating tariffs, tightening supply chains, and shifting strategies. While topline revenue growth remains strong, rising input costs and policy uncertainty are forcing companies to sharpen their focus—pruning non-core assets, streamlining operations, and zeroing in on their strongest water plays.

Meanwhile, regulated water utilities, with their steady cash flows and inelastic demand, are starting to look a lot more attractive. In a landscape shaped by tariffs, inflation, and bond market pressure, this might just be the moment where “boring is beautiful.”

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Clarifying the Chaos in Washington: Answering Top Questions on U.S. Water Policy

Bluefield Research — Tue, 08 Apr 2025 13:34:40 +0000

Policy in Washington is in flux—and our clients had questions. Lots of them. Following Bluefield’s recent client webcast, Uncertain Times: The State of Water Policy in Washington, podcast host Reese Tisdale and Senior Research Director Greg Goodwin reconvene to answer the questions they didn’t have time to address live. In this episode, they unpack critical developments shaping the water sector—from funding volatility and regulatory shifts to cross-border tensions and infrastructure outlooks.

Topics covered, questions answered:

Is Bluefield's market sizing number across main verticals total or annualized?
If the San Francisco vs. EPA court decision will lead to more niche requirements, will permitting get more complicated?
Are Chicago’s US$15B consent decree costs included in the municipal total? Underestimated?
What does a second Trump administration mean for the digital water market?
Will agencies like USGS be affected too?
Can you break down the US$13B in impounded funding? Which programs were impacted?
Project 2025 and Mandy Gunasekara’s take on increased SRF funding—realistic or contradictory?
With Russian gas returning, how does U.S. Liquefied Natural Gas (LNG) outlook impact water markets?
Is the Boundary Waters Treaty or International Joint Commission under threat?
Are manufacturers reshoring due to political pressure?
Has the federal share of water infrastructure funding declined—and where is it heading?

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What’s Fueling Spain’s Data Center Growth—and Will It Last?

Bluefield Research — Tue, 25 Mar 2025 13:19:58 +0000

In this episode, host Reese Tisdale is joined by Bluefield colleagues Keith Hays and Chloé Meyer to unpack the rapid expansion of data centers in Spain and the growing challenges related to water and energy management.

Key topics covered:

Why dig into this topic now? Driven by AI, global data consumption is accelerating and Spain is emerging as a major data center hub. Developers are now facing growing pressure to balance growth with limited resources like land, energy, and water.
What makes Spain an attractive market for data centers? Spain offers lower energy and land costs, fast-track approvals, and strategic geographic positioning compared to more constrained FLAP-D markets.
How are companies addressing growing concerns around water use? Developers are taking different approaches: Meta is revising its cooling strategies with air and dry-cooling to reduce water use, while AWS is investing in leak detection, offset projects, and local water infrastructure.
How are local communities responding to exponential data center growth? While regions like Aragon are expanding rapidly, others like Lleida are pushing back over water use and long-term economic benefits.
How will AI-driven growth shape future water and energy demands? AI workloads are accelerating data center demand, leading to higher energy density and cooling needs.

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Herc, Sunbelt, and United: How Recent M&A Is Reshaping the Water Equipment Rental Market

Bluefield Research — Tue, 11 Mar 2025 13:33:55 +0000

In Episode 114 of The Future of Water podcast, host Reese Tisdale is joined by Bluefield Research Senior Analyst Ethan Edwards for a deep dive into the water landscape, focusing on the evolving role of the equipment rental sector. The conversation centers on the competitive dynamics among major rental companies such as Herc, Sunbelt, and United Rentals, with a spotlight on Herc’s recent US$5.3 billion acquisition of H&E Equipment Services.

Ethan breaks down the impact of this deal, positioning Herc as the third-largest equipment rental company in North America. He also discusses how original equipment manufacturers rely on rental firms to distribute pumps, dewatering systems, and trench safety solutions, particularly as municipalities and industries adopt asset-light models. He highlights that rental companies are an essential channel for water equipment, especially in sectors like mining, construction, and oil & gas.

Key Takeaways:

The Water Connection: Rental companies are not just providing equipment—they're offering full-service dewatering and treatment solutions, competing directly with specialized water service providers.
Consolidation Trends: With companies like United Rentals and Sunbelt expanding through acquisitions, the rental sector is seeing increased consolidation.
Strategic Shifts: Pump manufacturers are increasingly relying on top rental companies for distribution, as exclusive supply agreements and co-branded deals help maintain steady demand and strengthen their market positions.
Looking Ahead: Ethan shares insights on how AI and connected worksites could further transform equipment rental strategies, particularly in water-related projects.

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Herc’s US$5.3B Acquisition: Reshaping the Water Rental Market Channel

The Digital Water Playbook: Who’s Investing, What’s Changing, and Why It Matters

Bluefield Research — Tue, 25 Feb 2025 14:22:38 +0000

Podcast host Reese Tisdale is joined by Bluefield’s Analyst Christine Ow to discuss the latest developments in digital water. From Badger Meter’s expansion into wastewater to Ferguson’s growing presence in smart buildings, Bluefield's water experts examine recent acquisitions, investment trends, and the competitive landscape in the U.S. and Europe.

With the U.S. and Canada digital water market set to double by 2033, Christine and Reese take a closer look at what’s driving investment, how markets in the U.S. and Europe compare, and where the biggest opportunities lie.

Key Topics Discussed:

Badger Meter's Move into Wastewater: Badger Meter’s US$185 million acquisition of SmartCover Systems marks a shift into wastewater asset management. What does this signal about their long-term strategy? Christine and Reese break down how this acquisition fits into Badger’s history of strategic growth, its expansion beyond metering, and its increasing focus on wastewater and potentially stormwater solutions.

Ferguson's Expansion into Smart Buildings: Ferguson’s partnership with WINT Water Intelligence marks another step in its digital water expansion. What does this mean for the company’s strategy? The conversation explores Ferguson’s push beyond hardware distribution into software solutions, how it compares to Core & Main’s digital strategy, and what this means for the broader smart buildings market.

The U.S. & Canada Digital Water Market Forecast: The U.S. and Canada digital water market is set to double from US$11.5 billion in 2024 to US$23.8 billion by 2033. What are the key drivers? This segment highlights the role of policy, funding initiatives, cybersecurity concerns, and the increasing demand for AI-driven analytics and IoT solutions.

Comparing the U.S. & Canada and Europe's Digital Water Markets: Each region has different regulatory and investment landscapes. How does this impact digital water adoption? Bluefield's water experts discuss the centralized regulatory approach in Europe versus the fragmented U.S. market, the challenges of funding and procurement cycles, and how these factors influence digital technology adoption in utilities.

What's Next for the Digital Water Market?: With market consolidation and increasing investment, what are the key trends to watch? The discussion covers the potential impact of tariffs, economic uncertainty affecting M&A activity, the rise of smart stormwater solutions, and the growing role of AI in utility decision-making.

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Will Spanish Engineering Firms Reshape the Global Water Landscape?

Bluefield Research — Tue, 11 Feb 2025 14:27:31 +0000

Spanish engineering firms have played a significant role in the global water sector, leading major desalination and water treatment projects across Latin America, the Middle East, and beyond. But recent financial pressures, acquisitions, and shifting competition are reshaping the landscape.

In this episode, host Reese Tisdale speaks with Bluefield Senior Analyst Antonio del Olmo about the evolving strategies of firms such as GS Inima, Acciona, FCC Aqualia, and Ferrovial. Our water experts break down the implications of GS Inima’s pending sale, how Spanish firms are navigating market consolidation, and whether they can maintain leadership amid growing competition from French and Chinese players.

Key topics include:

The GS Inima sale—why it’s happening and what it means for global desalination.
How Spain’s top water firms, including Acciona, FCC Aqualia, and Tedagua (now under Vinci), are navigating growth and consolidation.
Spain’s continued leadership in desalination and whether competition from French and Chinese firms is shifting the balance.
Vinci’s acquisition of Tedagua and the broader implications for consolidation trends in water engineering.
The future outlook—where Spanish firms are expanding next and what challenges they face.

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What's the Price of Your Household Water?

Bluefield Research — Tue, 28 Jan 2025 14:19:35 +0000

In this episode, Bluefield's Private Water Analyst Megan Bondar joins host Reese Tisdale to discuss the latest findings on U.S. water and sewer rates. What has changed in 2024? With Bluefield’s ninth annual analysis covering data from 50 of the largest U.S. cities, this episode explores key trends in pricing, affordability challenges, and the factors driving rising household water bills.

What you’ll learn in this episode:

How much have water rates increased? Household water and sewer bills have climbed 4.6% from 2023 to 2024, and surged 24% in the past five years.
What’s behind rising costs? Inflation, aging infrastructure, and slow federal funding distribution are putting financial pressure on utilities and ratepayers.
How do rates vary across the U.S.? The Northeast region leads with the highest monthly combined residential bill, while cities like Phoenix and Long Beach offer some of the lowest rates.
What are the affordability challenges? In some cities, minimum wage workers must work over 20 hours per month just to cover their water bills, exceeding EPA affordability thresholds.
What strategies are utilities using? Tiered rate structures, volumetric surcharges, and infrastructure surcharges are some of the ways utilities are addressing affordability while investing in upgrades.

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Related Research & Analysis:

U.S. Municipal Utility Water Rates Index 2024: Drinking Water & Sewer

Diehl Metering’s Digital Water Leap Powered by Analytics-focused Acquisition

Bluefield Research — Tue, 14 Jan 2025 13:44:14 +0000

Podcast host Reese Tisdale is joined by Bluefield Analyst Mike Muroff to dive into Diehl Metering’s recent acquisition of Preventio, a software company specializing in AI-powered solutions like leak detection and predictive maintenance. This deal is not just a major step for Diehl’s digital water strategy, but also reflects broader trends in Europe and beyond.

Preventio enhances Diehl's existing capabilities, particularly within its Analytics & Services division, which focuses on water loss management and IoT solutions. This acquisition positions Germany-based Diehl Metering alongside competitors like Xylem and Itron, who have also made strides in analytics and IoT, while marking a strategic pivot for the company as it strengthens its digital portfolio.

Economic and geopolitical shifts in Europe—especially in Germany—have also influenced this transaction. Challenges like the energy crisis and restrictive data regulations are driving demand for innovative solutions, while Diehl’s success in international markets like the U.S. and Saudi Arabia highlights the global potential for scaling Preventio’s offerings. This acquisition marks an important move in addressing critical market challenges like water scarcity and energy efficiency.

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Related Research & Analysis:

Diehl Ups Digital Water Focus with Preventio Acquisition

2024 in Water, What Mattered the Most?

Bluefield Research — Tue, 24 Dec 2024 14:04:39 +0000

In this year-end episode of The Future of Water, podcast host and Bluefield President Reese Tisdale shares his reflections on the most pressing issues that shaped the water sector in 2024 and offers a forward-looking perspective for 2025. Covering a range of topics, Reese dives into global trends, challenges, and opportunities that you need to watch in the new year.

1. Germany’s Economic Challenges and the EU's Troubles

Germany, the largest economy in the Eurozone, faces mounting challenges—from slow GDP growth to underinvestment in infrastructure. These issues have ripple effects across Europe, including the water sector, as infrastructure upgrades struggle to keep pace with economic pressures.

2. EPA’s Cybersecurity Report: A Wake-Up Call

The EPA’s report on vulnerabilities in U.S. drinking water systems highlights critical cybersecurity risks. With nearly 193 million Americans reliant on systems susceptible to high-risk threats, the need for a comprehensive cybersecurity strategy has never been more urgent.

3. Thames Water’s Financial Challenges

The U.K.’s largest water utility is grappling with nearly £19 billion in debt, stringent regulatory oversight, and mounting public scrutiny. Reese explores the financial and operational pressures reshaping the U.K. water market and what it means for utilities globally.

4. Water Sector M&A Maintains Momentum

While the pace of transactions has moderated, 2024 saw 334 water sector deals, driven by falling interest rates and infrastructure incentives. Reese highlights the segments and companies leading the charge, from hardware & equipment to geographic expansion in key markets.

5. Companies Putting Water First

Major players like Georg Fischer, Kemira, Veralto, and DuPont Water Solutions continued to prioritize water in 2024, driving sustainability, innovation, and technological advancements. Their strategies underscore the rising prominence of water as a critical industry focus.

6. U.S. Elections: Shaping Water’s Future

The 2024 U.S. elections introduced significant implications for water policy and funding. Reese examines how shifts in political leadership could influence federal regulations, public funding programs, and private sector dynamics in the years ahead.

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From Pharma to Energy, What's Driving Growth in Water-Intensive Industries?

Bluefield Research — Tue, 10 Dec 2024 14:21:04 +0000

In this episode, Bluefield's water experts take a closer look at industrial water markets, exploring the trends and dynamics influencing water and wastewater management across key sectors.

Reese Tisdale is joined by Amber Walsh, Senior Analyst at Bluefield Research, to unpack findings from Bluefield's recently released U.S. & Canada Industrial Water Market Forecasts report. Together, they discuss:

Market Drivers: How federal policies like the CHIPS Act and Inflation Reduction Act are spurring investments in water-intensive industries like semiconductors, renewable energy, and AI-driven data centers.
Market Size & Growth: Industrial water management expenditures in the U.S. and Canada are forecasted to reach US$388.5 billion from 2024 to 2030, with oil and gas leading the way, representing nearly half of the spend.
Energy Transition Impacts: The shift from fossil fuels to renewables is reshaping water use. However, potential policy rollbacks could alter the pace of the transition, impacting water demand in these industries.
Semiconductors & Critical Infrastructure: The water-intensive needs of semiconductor fabs and battery manufacturing plants are driving investments in ultrapure water systems and wastewater treatment, creating significant opportunities for solution providers.
Emerging Trends in Industry Verticals: From food and beverage to pharmaceuticals, new opportunities are emerging for water solution providers across a highly fragmented landscape.

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Strategic Moves Reshaping the Water Sector

Bluefield Research — Tue, 26 Nov 2024 14:21:51 +0000

In this episode, Reese Tisdale sits down with Keith Hays, VP & Managing Director at Bluefield Research, to discuss major developments in the water sector that signal a broader shift toward water-centric strategies. Together, they break down the strategic moves by key players and explore their implications for utilities, industries, and technology providers.

Key topics in this discussion include:

Georg Fischer’s pivot to exclusively water and flow solutions: How divesting non-core businesses and acquiring Uponor is strengthening its market position in industrial and high-value sectors like semiconductors.
Ecolab’s acquisition of Barclay Water Management: Strengthening industrial water treatment expertise with proprietary technologies and a consumables-driven revenue model.
Veralto’s investment in Axine Water Technologies: This investment underscores the sector’s shift toward digital innovation, with industrial water applications emerging as prime targets for growth.

Reese and Keith also dive into the broader trends driving these transformations, including the rise of high-tech solutions like real-time monitoring, the industrial focus on semiconductors and data centers, and the impact of major infrastructure investments. With insights on scalability, innovation, and competitive dynamics, this episode highlights how companies are positioning themselves for a water-driven future.

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How Are Hardware, Equipment, and Services Distributors Driving Change in the Water Sector?

Bluefield Research — Tue, 12 Nov 2024 14:14:43 +0000

As companies like Core & Main, Ferguson, and DXP Enterprises evolve from middlemen to essential market channels, they’re shaping the water industry through expansive networks, deep customer relationships, and a strong logistical presence. In this episode, Reese Tisdale is joined by Bluefield Analyst Mike Muroff to dive into the crucial role that hardware, equipment, and services distributors play in the water sector. They explore how these distributors are meeting local demand in an increasingly fragmented market, where addressing specialized needs is key.

Key Insights:

Consolidation as a Competitive Advantage: Driven by mergers and acquisitions, distributors are rapidly capturing market share. In the past decade alone, over 130 M&A deals have helped major players like Core & Main and Ferguson establish a stronghold in the US$40 billion water infrastructure market, even as the market remains fragmented.
Distributors as Essential Channels: Major distributors serve as the backbone for reaching end-users across the sector. Their extensive branch networks and customer connections make them critical in navigating local demand and providing tailored solutions.
Evolving Business Strategies: With a focus on M&A-driven geographic expansion, diversifying supply chains, and adopting digital tools, top distributors are strengthening their channels to market and positioning themselves for scalable growth.
Digital Transformation’s Role: From Core & Main’s Online Advantage platform to Ferguson’s partnership with Trimble, digital tools are redefining operational efficiencies and customer engagement. Distributors leading in digital innovation are finding ways to streamline processes, while those lagging may risk falling behind.
Environmental & Regulatory Impacts: New infrastructure initiatives, including the Infrastructure Investment and Jobs Act and the Inflation Reduction Act, have heightened the importance of environmental compliance. Distributors are aligning with these standards to remain competitive, especially as extreme weather challenges continue to impact supply chains.
Resilience Amid Economic Pressures: In the face of inflation and rising interest rates, leading distributors maintain growth by focusing on the non-residential sector and employing targeted M&A and capital strategies. These approaches help bolster their regional presence and support ongoing resilience.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Related Research & Analysis:

Hardware, Equipment, and Services Distributors: Channel Strategies for the Water Sector

Flood Management Under Pressure: Europe's Response to Storm Boris

Bluefield Research — Tue, 29 Oct 2024 13:21:24 +0000

With climate change accelerating the frequency and intensity of extreme weather events, countries across the continent are grappling with the need for resilient infrastructure. This conversation couldn’t be more timely: recently, Storm Boris brought nearly 500mm of rainfall—almost 20 inches—across Central Europe, testing current flood management defenses and highlighting critical gaps. In this episode, Zineb Moumen, an Analyst with Bluefield’s Europe team, dives into the pressing issue of flood management and flood resiliency across Europe.

Together, Zineb and podcast host Reese Tisdale explore how recent weather events like Storm Boris are shaping flood resilience strategies and investment in Europe, including traditional engineering projects and cutting-edge digital solutions. They also examine how these changes are shaping the market for engineering firms, utilities, and technology providers who are racing to keep pace with rising flood risks.

In this session, Bluefield's water experts address these questions:

How did Storm Boris challenge flood control efforts in Central Europe, and what lessons have emerged?
How is climate change influencing investment in Europe’s flood management, and where are the emerging opportunities?
What role do digital tools and technologies play in today’s flood management systems?
How are insurers and financial services adjusting to increased flood risks?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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San Francisco vs. the EPA: What's at Stake for the Future of Water Regulation?

Bluefield Research — Tue, 08 Oct 2024 13:25:26 +0000

Reese Tisdale is joined by Bluefield’s Senior Research Director Greg Goodwin to explore the upcoming Supreme Court case: City and County of San Francisco vs. Environmental Protection Agency. The outcome of this case could reshape the balance of regulatory authority between federal and state governments, with major implications for water quality standards across the U.S.

The case centers on San Francisco’s challenge to the EPA’s authority under the Clean Water Act, particularly its use of vague discharge rules that lack clear numerical limits. San Francisco argues that the EPA’s reliance on generic prohibitions without quantifiable limits makes compliance difficult and could result in up to US$10 billion in additional capital expenditures.

On the other side, thirteen Attorneys General for Democratically governed states are urging the Court to preserve the EPA’s authority to set “narrative” limits, supported by scientists who claim that narrative-based limitations can be more effective in certain cases, such as nutrient discharges, by allowing more flexibility for the permit holder.

Reese and Greg dive into six key questions:

What is the significance of the upcoming Supreme Court hearing on the EPA and water regulations?
How does the case challenge the Clean Water Act?
What are the potential legal implications for cities and industries if the Supreme Court limits the EPA's regulatory power?
How does this Supreme Court case tie into broader regulatory shifts in the water sector, especially with the 2024 elections on the horizon?
What impact could a decision in favor of San Francisco have on national water policies?
How this case connects to broader concerns in the water industry, such as PFAS and lead service line replacement?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Show Me the Money: Where Are Utilities Investing in Water?

Bluefield Research — Tue, 24 Sep 2024 13:16:18 +0000

In this episode, Reese Tisdale is joined by Bluefield's Senior Research Director Eric Bindler to break down the essential role of Capital Improvement Plans (CIPs) in guiding water utility infrastructure investments. As part of an annual Bluefield tradition, our analysis of nearly 800 CIPs across the U.S. and Canada reveals insights into how water utilities are planning US$345 billion in capital investments through 2032.

Eric answers seven key questions, covering everything from the basics of what CIPs are to why they are crucial for utilities. The discussion also highlights:

Why CIPs Matter: These plans provide a structured approach for long-term infrastructure projects, ensuring utilities can prioritize spending and address public health, regulatory compliance, and climate resilience.
How Bluefield Does It: Eric explains Bluefield’s research methodology, which involves analyzing thousands of line-item data across water, wastewater, and stormwater utilities, capturing nearly 45,000 individual projects categorized into 48 distinct categories.
Investment Insights: The US$345 billion includes a mix of critical projects—46% for water, 44% for wastewater, and 9% for stormwater infrastructure. Notable project types include pipe networks, water treatment plants, cybersecurity, and PFAS mitigation.

These CIPs translate utility capital needs into market opportunities for technology and equipment vendors as well as engineers and construction firms. Bluefield has detailed CIP data to help clients navigate market opportunities and make informed decisions.

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Related Research & Analysis:

U.S. & Canada Municipal Utility Capital Improvement Plans: Water, Wastewater, & Stormwater Budget Outlook, 2024–2032

Private Equity Adds Water Treatment Chemicals to Their Playbook

Bluefield Research — Tue, 10 Sep 2024 13:26:53 +0000

In this episode, host Reese Tisdale is joined by Bluefield Research's Senior Analyst, Ethan Edwards, for a deep dive into the recent US$2 billion acquisition of USALCO by private equity firm TJC—the biggest deal in the water sector this year so far. USALCO, a key player in the water and wastewater treatment chemicals market, was acquired from H.I.G. Capital, which retained a minority stake. Reese and Ethan explore the strategic importance of this deal and what it signals for the water sector moving forward.

Questions addressed in this conversation:

What are the basics of TJC's acquisition of USALCO and its significance in the broader water treatment chemicals market?
How has USALCO's acquisitive strategy transformed the company's footprint in the U.S., particularly in the water and wastewater treatment sectors?
What role has private equity played in consolidating the water treatment chemicals market, and why is this consolidation happening at such a rapid pace?
How are water treatment chemical producers managing high cost pressures, and what are the broader implications for the industry's profitability?

Looking ahead, Bluefield's water experts discuss what’s on the horizon for the water treatment chemicals market, including the potential for more M&A activity, IPOs like Solenis’ planned for 2025, and the impact of persistently high interest rates on deal flow.

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Uncharted Waters: Are U.K. Utilities Ready for the AMP8 Investment Cycle?

Bluefield Research — Tue, 27 Aug 2024 13:18:41 +0000

The U.K.'s water sector is facing a critical juncture in preparation for the upcoming AMP8 investment cycle. This cycle sets the financial agenda for the world's most privatized water market, with a proposed £104.6 billion investment.

Episode 101 features host Reese Tisdale with Bluefield Senior Research Director Chloé Meyer. In this episode, they discuss the transformative potential of AMP8, which aims to tackle aging infrastructure, enhance environmental protections, and secure a sustainable water supply. Reese and Chloé explore key challenges, opportunities, and regulatory pressures that will shape the next five years of the U.K.'s water industry.

Drawing from Bluefield's latest report, "U.K. Water Utilities' Road to AMP8", the discussion includes analysis of proposed business plans by U.K. water utilities.

Topics covered include:

Market Overview: Understanding the current state of the U.K. water sector and its global significance.
Privatization Dynamics: How privatization has shaped the water sector and what changes AMP8 might bring.
Ofwat's Role and Influence: The regulatory power of Ofwat and its impact on investment and operational strategies.
Financial Health and Risk: Assessing the financial stability of water utilities amidst unprecedented investment demands.
Environmental and Technological Shifts: How the water industry is responding to environmental challenges and adopting new technologies.
Leakage Reduction Strategies: New approaches to tackle one of the sector's most pressing issues.
Brexit Impacts: The implications of Brexit on regulatory frameworks and investment in the water sector.

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From Milestones to Predictions: What’s Next for the Future of Water?

Bluefield Research — Tue, 06 Aug 2024 13:33:34 +0000

Four years after the launch of The Future of Water podcast, milestone episode #100 has arrived! In this episode, podcast host Reese Tisdale is joined by VP & Managing Director Keith Hays as they reflect on the evolution of the water sector and look ahead to its future.

Reese and Keith begin by reflecting on the most impactful events and trends over the past four years, such as the toilet paper shortage and fatbergs, the rise in demand for data centers, and the Thames Water financial crisis.

The second half of the episode explores what's on the horizon for the water industry. Key topics include, but are not limited to:

Impact of AI and Machine Learning: How these technologies are enhancing mineral exploration by analyzing vast datasets, crucial for meeting rising demand for critical minerals.
Impending Day Zeros: As Day Zero events are expected to increase, the need for effective water conservation strategies is increasing, especially in regions facing severe water stress and high leakage rates.
Role of Big Tech: The impact of big tech companies in driving digital transformation with smart technologies and real-time monitoring, improving efficiency and addressing water sector data needs.

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How Will the 2024 U.S. Presidential Election Shape the Future of Water Management?

Bluefield Research — Tue, 23 Jul 2024 13:00:15 +0000

With the 2024 U.S. presidential election on the horizon and U.S. President Joe Biden announcing his exit from the race, the political landscape is heating up.

In this episode of The Future of Water, Podcast Host Reese Tisdale speaks with Senior Research Director Greg Goodwin, diving into Bluefield's new white paper, "2024 U.S. Elections: Implications for the Water Industry".

At the time of recording this episode, Joe Biden was still the Democratic candidate for president. However, over the weekend, the political landscape shifted. Biden's sudden withdrawal from re-election certainly shakes things up, but for the water and wastewater sectors, a Democratic victory in the White House is expected to maintain the current course at the federal level. While many anticipate Vice President Kamala Harris to step up as the new candidate, the political outlook, as discussed with Greg, remains largely unchanged. The real game-changer, however, looms in a potential Trump win—promising a seismic shift that could echo the transformative policies proposed during his previous term.

Reese and Greg unpack how decisions made in the upcoming election can reshape water management in the U.S., addressing critical issues such as aging infrastructure, climate resilience, and water quality.

Greg tackles three crucial questions:

How will the outcome of the 2024 elections influence regulatory policies in the water sector?
What major water-related initiatives are on-the-line in this election?
How shifts in economic policies may impact the water industry?

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Answering Ten Burning Questions about the Private Water Industry

Bluefield Research — Tue, 09 Jul 2024 13:23:09 +0000

Bluefield water experts recently presented a private water client webcast in collaboration with the National Association of Water Companies, From PFAS to Consolidation: Key Water Market Developments Impacting Utility Strategies. In this special mailbag episode, podcast host Reese Tisdale and Senior Analyst Charlie Suse answer industry questions received from this webcast, providing in-depth insights into key water market developments.

Topics covered, questions answered:

How does Bluefield define the range (very small–very large) for water utility system sizes, especially when evaluating the relationship between system size and U.S. Environmental Protection Agency (EPA) regulations?
When the health-based violation data is normalized against the number of community water systems, what does that data show?
What is a realistic annual cost estimate for PFAS maximum contaminant level compliance, given that the EPA's US$1.5 billion per year estimate seems low?
How much are Public Utility Commissions willing to provide rate relief for consolidators purchasing small, troubled systems?
How is workforce development and the fast approaching retirement wave affecting the water industry?
How has the role of private equity played out in the regulated/non-regulated water utility segments?
How has the non-regulated market grown in the last decade, and what is its future trajectory?
What are the opportunities in private water outside the U.S.?
Why is wastewater seen as less risky and more attractive for market entry?
Beyond the Bipartisan Infrastructure Law, what is the outlook for future federal incentives in the water sector?

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What's Driving Rapid Growth in U.S. Stormwater Management?

Bluefield Research — Tue, 25 Jun 2024 13:15:10 +0000

Interest in the stormwater management market is on the rise, driven by urgent environmental challenges and infrastructure needs. Reese Tisdale is joined by Senior Research Director Eric Bindler to unpack Bluefield's latest stormwater infrastructure report. In this discussion, they dive into the nuances of stormwater management, exploring its impact across municipal water systems, transportation networks, and real estate development.

In this episode:

Market Drivers: Explore the significant factors propelling the stormwater management surge—climate change implications, stormwater pollution concerns, and the ongoing construction boom.
Key Questions Addressed:
- Funding Disparities: Understand why stormwater management has historically received less funding compared to drinking water and wastewater sectors.
- Market Growth Projections: Gain insights into the expected expansion of the U.S. stormwater infrastructure market by 2030.
- Regional Insights: Discover intriguing trends and developments at the state and regional levels shaping stormwater management strategies.
- Solutions in Focus: Learn about the diverse range of solutions—from traditional infrastructure to innovative green technologies—being deployed to tackle stormwater challenges.
- Competitive Landscape: Identify the leading companies and emerging players driving innovation and competition in the stormwater management sector.

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Related Research & Analysis:

U.S. Stormwater Infrastructure Market: Key Drivers, Competitive Shifts & Investment Outlook, 2024–2030

Three Industries Shaping Industrial Water Management

Bluefield Research — Tue, 11 Jun 2024 13:44:24 +0000

Podcast host Reese Tisdale talks with Bluefield Analyst Amber Walsh to get the low down on top takeaways from Q2 industrial water analysis. Industrial water markets are seeing a lot of change—from rising demand for data, the energy transition, and a focus on corporate sustainability strategies. In this discussion, Bluefield's water experts share their insights on three hot industries making waves in industrial water management + corporate sustainability, highlighting key water events and trends impacting the way in which companies respond to and address water management challenges and opportunities.

Discussed in the podcast:

1. Bluefield keeps a close eye on government funding in the semiconductor manufacturing industry because of all the capital going towards Greenfield development—and with that comes water management spend and innovative solutions (i.e., reuse) especially in areas of water stress. In Q1, there were questions around the status of government funds from the U.S. CHIPS Act and market challenges. Q2 analysis shows the slow roll out of funds to semiconductor manufacturers GlobalFoundries, TSMC, Micron, Intel, and Samsung. What is the status of the funds and how are these companies responding?

2. In the hydrogen space, although still in early development, we are seeing significant investment being poured into green hydrogen. As Bluefield follows the money, we are expecting this to drive water management opportunities. As water is a key input in hydrogen production—and nearly 2,000 projects have been announced worldwide—Bluefield is estimating US$26.3 billion to be spent on water management in this sector through 2030.

3. Bluefield is tracking several trends in the food & beverage industry. Wastewater treatment remains a large area of spend for these facilities, increasingly stringent discharge regulations are pushing for advanced treatment. What is the impact of municipal surcharges for treatment that can range from a couple thousand dollars annually to millions? And how are companies dealing with higher operational costs and commodity prices?

4. Let's not forget about corporate sustainability. What is the reality of corporate sustainability in industrial water? Is it a driving factor in corporate water management decisions? Companies have largely been motivated to set water reduction targets and disclose water use. But what does this mean and is the goal actually meaningful? How do 'replenishment projects' work and what are attractive 'sustainable’ business models (i.e., Water-as-a-service, operation management contracts).

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Emerging Trends and Foreign Investment Opportunities in Spain's Water Market

Bluefield Research — Tue, 21 May 2024 13:21:05 +0000

Spain’s water sector has evolved in light of the country's unique challenges such as extensive infrastructure buildout in recent decades, population boom, economic recessions, and persistent droughts. Despite these hurdles, Spain has made notable strides in areas including desalination, water management, and technology adoption.

VP & Managing Director Keith Hays and Analyst Maria Cardenal from Bluefield's Europe team sit down with Podcast Host and Bluefield President & CEO Reese Tisdale. Together, they explore three major trends shaping the Spanish water sector: digitalization, smart water management, and the circular economy.

In addition to these trends, Bluefield's Europe water experts delve into several key topics:

Main challenges facing Spain's water sector, and how they are being addressed
The size of Spain’s water sector, including its relativity to other countries in Europe
Government policies and regulations that could influence the development of the water sector moving forward
Prominent key players in the Spanish water sector—utilities, technology providers, and consulting firms
Opportunities for foreign investors and companies looking to enter the Spanish water market

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How Would a Potential Schneider-Bentley Deal Shake Up the Water Sector?

Bluefield Research — Tue, 07 May 2024 13:28:05 +0000

Update: As of 23 May 2024, deal talks between Schneider Electric and Bentley Systems have ended, with no plans to move forward with an acquisition. Schneider Electric and Bentley have confirmed ongoing discussions regarding a potential acquisition, marking a significant development in the water industry. With Bentley's market value estimated at approximately US$16 billion, the prospective deal would provide large ramifications across various industries where both companies operate.

While both Schneider and Bentley are prominent players in the digital water realm, other companies including Cadence Design Systems and Siemens could be in the mix as well.

In this episode, podcast host Reese Tisdale is joined by Bluefield's Senior Research Director Eric Bindler, and Digital Water Analyst Christine Ow, to explore the potential ripple effect of a Schneider-Bentley deal on the water industry:

Enhancing Operational Efficiency: The convergence of Bentley and Schneider would facilitate the transition from design to operations, unlocking efficiencies throughout the value chain. Their combined expertise would offer a suite of products, bridging crucial gaps in the industry.
Altering the Competitive Landscape: Schneider's diverse portfolio spans various sectors. The integration of Bentley would further strengthen their standing within the water industry, challenging established players.
Navigating Integration Challenges: Beyond the strategic benefits, the acquisition presents integration complexities, including aligning customer bases and merging company cultures.

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Regulating PFAS in Drinking Water: Who Will Bear the Burden?

Bluefield Research — Tue, 23 Apr 2024 13:24:47 +0000

Bluefield's latest remediation forecast for PFAS (per- and polyfluoroalkyl substances) has surged to US$13.5 billion by 2030 in the wake of anticipated maximum contamination limits (MCLs) for drinking water and a significant legal settlement involving 3M in South Carolina. Now, with the EPA confirming these unprecedented contaminant limits, a fresh wave of discussions emerge, touching upon the EPA's authority, states' rights, and the subsequent course of action including the management and responsibility of biosolids disposal—who's ultimately responsible?

In this episode, Podcast Host Reese Tisdale engages in a deep dive discussion with Bluefield's Senior Research Director, Greg Goodwin (a.k.a. Bluefield's policy watcher), exploring recent policy developments regulating 'forever chemicals' in drinking water and their potential ramifications on regulatory frameworks. Key talking points cover what is PFAS (for anyone not in the know), the implications of the EPA establishing its new MCLs for PFAS, the ripple effects on wastewater, and the potential influence of upcoming elections on these policies.

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AI Opportunities and Impacts for Utility Construction Firms in Water

Bluefield Research — Tue, 09 Apr 2024 13:31:23 +0000

While artificial intelligence (AI) has indeed become a prevalent buzzword in many regards, capturing headlines over the past 12 to 18 months, its potential impact remains significant. There are real applications and impacts that are unfolding for AI, including those in the water and wastewater sectors. In the U.S. utility construction sector—which is facing chronic labor shortages amid historic levels of federal infrastructure investment—AI can serve as a powerful tool for increasing productivity, efficiency, and safety on worksites and in back offices alike.

In this episode, Reese Tisdale speaks with Bluefield's Senior Research Director Eric Bindler who recently presented on AI to to the National Utility of Contractors Association (NUCA). Eric answers 3 major questions:

What is AI and its implications for the construction industry?
What is AI's potential impact on jobs?
What are the applications and who are some companies active in the AI space?

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The Emergence of Collaborative Delivery for Water

Bluefield Research — Tue, 26 Mar 2024 13:35:26 +0000

Public sector water and wastewater project owners, engineering & design firms, and contractors are facing cost overruns, schedule delays, and contractual disputes that are slowing the execution and delivery of critical infrastructure.

These factors have prompted the development of new policies and project experiences, accelerating collaborative project delivery approaches. The methods include design-build, progressive design-build, construction manager at-risk approaches, and public-private partnerships.

Reese Tisdale is joined by Bluefield Senior Analyst Charlie Suse to discuss his recent analysis of collaborative delivery and its growing impact on water and wastewater infrastructure buildout in the U.S. Charlie outlines three main factors driving interest and policy changes in collaborative delivery:

Legislative momentum
Demonstrated activity and a growing portfolio of projects
Other factors such as utilities’ financial constraints, aging infrastructure, regulatory pressure, and climate change

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Related Research & Analysis:

Collaborative Project Delivery: State Policies and Market Trends for Water and Wastewater Infrastructure

IIJA Project Funding Update: Where Are the Dollars Now?

Bluefield Research — Tue, 12 Mar 2024 13:58:12 +0000

A number of Bluefield clients have enquired about the status of IIJA project funds. Each program stands in terms of four funding phases: appropriated, announced, obligated, outlaid. Podcast host Reese Tisdale is joined by Bluefield Senior Analyst Isabel Kezman to discuss recent analysis of the Infrastructure Investment and Jobs Act. In this episode, Bluefield's water experts speak on the pace of project activity and funding timeline from its legislation in November 2021 to now.

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What is Private Equity's Role in Digital Water?

Bluefield Research — Tue, 27 Feb 2024 14:21:30 +0000

The global private equity (PE) sector has grown thirteenfold since 2000, wielding increasing influence over critical infrastructure sectors. The proliferation of digital technologies across the water industry has opened new growth avenues for select PE investors.

Reese Tisdale is joined by Bluefield Analyst Christine Ow, to discuss her recent research on the role of PE firms in the digital water segment. Our Bluefield water experts once again take a step back and define “Digital Water", and then identify some key market trends, including PE investments, key players, and outlook for the rest of 2024.

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What's the State of Private Participation in Water?

Bluefield Research — Tue, 13 Feb 2024 14:26:29 +0000

Reese Tisdale is joined by Bluefield Senior Analyst Charlie Suse to discuss recent research on Investor-Owned Utilities in water. Reese and Charlie spell out Bluefield's definition of "Private Water", followed by a dive into the market outlook, including: Utility M&A trends, what companies are paying for water systems, the influential players in the private water space, and where the market is heading through M&A, geographic shifts, and policy changes.

Reese also provides some key takeaways from Bluefield's recently published Europe Municipal Water CAPEX Forecast Report.

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Related Research & Analysis:

The Role of 8 Japanese Trading Houses in Water

Bluefield Research — Tue, 30 Jan 2024 14:59:50 +0000

The eight Japanese trading companies, also known as “sogo shosha”, are Mitsubishi Corporation, Mitsui Corporation, Hitachi Corporation, Itochu Corporation, Sumitomo Corporation, Marubeni Corporation, Toyota Tsusho, and Sojitz Corporation. Together these firms reported nearly US$600 billion in assets under management in 2023.

These companies are global, with positions in key markets geographically, and are a unique group with a number of investments in water. Bluefield President and Podcast Host Reese Tisdale and Bluefield's Senior Analyst Ethan Edwards discuss three major questions surrounding the role of these companies within water:

How are Japanese trading houses strategically positioned in the global water market, and what factors contribute to their investments in water-related assets?
What role do Japanese trading houses play in driving technological advancements and innovations in water management?
What are the notable collaborations between Japanese trading houses and local or international entities in the water sector?

"These are massive firms, almost battleships of organizations. They've been at it for so long that they've accumulated a wide network that spans globally. Together, they wield a significant influence across a wide network of industries."

--Ethan Edwards, Senior Analyst, Bluefield Research

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Badger Meter, Trimble Change Lanes in Digital Water

Bluefield Research — Tue, 16 Jan 2024 14:55:31 +0000

Badger Meter, a leading manufacturer of water metering products, has recently acquired the Telog brand of RTUs (remote telemetry units) and associated monitoring software from Trimble. Podcast host and Bluefield President Reese Tisdale, sits down with Bluefield's Senior Research Director Eric Bindler, to shed some light on the transaction, what this signals to the water market, and who and which companies should take notice.

Badger Meter has become a poster child for an incumbent water infrastructure/equipment supplier transforming into a leading digital water market player. For Trimble, this move clarifies their position in the market, doubling down on the construction and asset management space in water and related markets.

Reese Tisdale also shares his thoughts on Spanish water company Aqualia's recent entry into the U.S. water market through its acquisition of Texas-based Municipal District Services.

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Looking into 2024: Key Water Trends to Watch in the EU

Bluefield Research — Tue, 02 Jan 2024 14:54:24 +0000

In this first episode of 2024, podcast host Reese Tisdale chats with two members of Bluefield's Europe team, Chloé Meyer and Keith Hays, to get their on-the-ground perspectives of key water sector trends in the EU. From water quality to reuse to circular economy, Bluefield's water experts discuss what, if any, the implications are for water management in relation to energy prices and the Ukraine-Russia conflict.

This discussion addresses three major questions:

What are some of the biggest factors influencing, if not disrupting, the water sector in Europe?
What are the key challenges and opportunities in the European water sector that businesses looking to break into the market should be aware of?
How can emerging technologies, such as digital water tech and business models, contribute to the growth of businesses in the European water sector?

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Related Research & Analysis:

Latest Trends in Industrial Water Management

Bluefield Research — Tue, 12 Dec 2023 14:35:41 +0000

In this episode, Bluefield water experts discuss key themes in industrial water from this past quarter. Podcast Host Reese Tisdale, sits down with Bluefield Senior Analyst Amber Walsh, to discuss their findings. 3 major takeaways below:

There has been a recent rise of public private partnerships for water projects and industrial companies partnering with water utilities.
Opportunities for mobile water treatment are increasing. As businesses seek to insulate themselves from water-related risks, containerized water treatment systems stand to benefit.
The impact of PFAS on the industry is growing, posing concerns for industrial facilities regarding liability.

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From City to City, Why Are Water Utility Rates So Variable?

Bluefield Research — Mon, 27 Nov 2023 20:32:58 +0000

The Future of Water Podcast host, Reese Tisdale, and Senior Water Analyst Charlie Suse, discuss findings and takeaways from Bluefield's Water & Sewer Rate Index, published earlier this month.

Over the past 12 years, combined household water and sewer bills for a typical U.S. household has increased by a total of 54.8%, or an average of 4.1% each year. From 2022 to 2023, combined household water and sewer bills increased by 3.9%, down slightly from the 4.3% increase observed from 2021 to 2022.

On a whole, water and wastewater rates are fairly stable, not changing dramatically from year-to-year. But, from city to city, there is some variation.

This episode is a discussion of water rates across some of the largest utilities in the U.S., uncovering the broader trends year-on-year and causes for rate volatility at the local level. Reese Tisdale and Charlie Suse hit on trends in water rates, drivers behind water rate fluctuation, and break down some of the hidden costs in your water bill.

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Related Research & Analysis:

U.S. Municipal Water & Sewer: Annual Utility Rate Index, 2023

What’s Behind the Decline in the Water Utility Workforce?

Bluefield Research — Wed, 15 Nov 2023 13:57:58 +0000

The U.S. Bureau of Labor Statistics (BLS) has reported that employment of water and wastewater treatment plant and system operators is projected to decline 6% from 2022 to 2032. This news shines the spotlight on a critical infrastructure sector that faces mounting challenges, from aging infrastructure assets to emerging contaminants (i.e., PFAS).

As water and wastewater treatment plants become more advanced with automated systems to manage treatment processes, fewer workers may be needed.

In today’s episode, Reese Tisdale is joined by Senior Research Director Eric Bindler, who notes that while some work can be automated, plants will still need skilled workers to operate increasingly complex controls and water and wastewater systems. The overall water industry BLS data shows pretty steady growth of around 1.5% for the past decade and a half.
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Are Take-Private Water Deals on the Rise?

Bluefield Research — Tue, 31 Oct 2023 13:21:50 +0000

Two Montreal-based firms have been recently taken private. On 2 October 2023, Ember Infrastructure announced it would acquire H2O Innovation Inc., a Canadian water solutions provider. A few weeks later, LOGISTEC entered into a definitive agreement to be acquired by private equity firm Blue Wolf Capital Partners and infrastructure investment firm Stonepeak. The LOGISTEC acquisition, one of seven “take-private” water deals tracked this year, highlights the increasing role of private equity in water.

Given the large size of these deals, and the flow from public to private, Bluefield water experts discuss the takeaways from these deals. The conversation includes points in how broader sector trends are impacting Water M&A deal flow, and how private equity players are emerging as key players across the water sector.

Podcast host, Reese Tisdale, and Senior Analyst Ethan Edwards talk through the deals and emerging trends in water M&A.

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Saltwater Intrusion In Drinking Water Is More Common Than You May Realize. What Are the Mitigation Options?

Bluefield Research — Mon, 09 Oct 2023 13:36:05 +0000

What is saltwater intrusion and how common is it? The city of New Orleans has been faced with a national emergency as a saltwater wedge had been expected to reach the area impacting the drinking water supply of 1.2 million people. If contaminated, it could be weeks or months before freshwater returns, unless there is significant rainfall, leaders say.

Most coastal regions are always under the threat of saline intrusion and, in fact, many prominent, high-population regions are facing this issue long-term. In this special episode, Bluefield's water experts discuss the what, how, and why of saltwater intrusion, the role of climate change and the global outlook, and breakdown possible mitigation options.

The Future of Water podcast host, Reese Tisdale, invites Bluefield's Senior Research Director Greg Goodwin to talk through the event and potential opportunities for change.

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What Are the Financial Opportunities and Challenges Facing Water Utilities?

Bluefield Research — Tue, 03 Oct 2023 09:40:00 +0000

In today's episode, Reese Tisdale and Senior Municipal Water Analyst Isabel Kezman provide a financial overview of the U.S. water industry discussing the markets, challenges, and regional differences. Isabel breaks down regional footprints of key federal, state, and private funding sources for the water sector.

This episode highlights examples of innovative utility funding and financing strategies, such as green bonds, innovative rate structures, public-private partnerships, financial technology, and advanced asset management.

The referenced analysis inspects historical expenditure trends over the past 50 years, leading up to historic federal funding for the water sector.

Key talking points:

Historical view of expenditure trends over time
What's behind the decline in capital expenditure?
What are the primary sources of funds across federal and state / government levels?
Analysis of IIJA and SRF funding

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How Are Water Utilities Prioritizing Infrastructure Spend and Outsourcing Strategies?

Bluefield Research — Tue, 19 Sep 2023 09:30:00 +0000

Taking a different approach on this episode, Reese Tisdale flies solo and shares some perspectives from recent analysis presented to clients by Bluefield Research's team of water experts. Three areas of discussion in this episode:

Utility Capital Improvement Plans: Bluefield’s team of water experts has dedicated significant time and resources to supporting companies with bottom-up data collection and analysis of the capital improvement plans (CIPs) of 763 large and mid-sized water, wastewater, and stormwater utilities across the U.S. and Canada.
Third Party O&M: Private participation in water & wastewater takes many forms, from system ownership and concessions to third-party operations & maintenance (O&M) contracts. Enabled by lower barriers to entry across a fragmented addressable market, third-party O&M providers represent the bulk of private participation in the U.S.
Oldcastle Cements Digital Water Strategy via Partnerships and M&A: On 1 August 2023, Oldcastle Infrastructure and FIDO Tech announced a strategic partnership to accelerate the U.S. market entry of FIDO’s artificial intelligence (AI)- powered leak detection software. This partnership is the latest in a series of recent maneuvers by Oldcastle to gain a foothold in the digital water solutions market.

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Aegion Adds More Deals to the List

Bluefield Research — Tue, 05 Sep 2023 09:30:00 +0000

The Future of Water host, Reese Tisdale, talks with Bluefield's Senior Analyst Ethan Edwards about the Aegion deal, M&A, and the trenchless pipe rehabilitation market.

In this episode, the Bluefield team dives into Aegion's acquisition of Portland Utilities Construction Company (PUCC), a trenchless service provider specializing in cured-in-place pipe (CIPP) and pipe bursting. PUCC serves the municipal market in Texas and the southeastern U.S. PUCC is Aegion’s sixth deal since 2021 and has significant market share in CIPP.

Aegion has also acquired Infraspec Services, their first foray into the Canadian lead pipeline replacement market, noting a move into lead service line replacement. Momentum continues to build for lead pipe replacement in the U.S., with the federal government channeling up to US$11.9 billion toward replacements in 2023.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Grundfos Goes Deeper Into Digital Water

Bluefield Research — Tue, 08 Aug 2023 13:57:03 +0000

Danish pump manufacturer Grundfos has recently acquired U.K.-based telemetry and analytics firm Metasphere from private equity investor XPV Water Partners. Grundfos has in recent years, expanded its footprint from its core pump offerings for water network management and treatment toward digital offerings.

Metasphere’s specific experience with wastewater networks especially in the U.K. and Australia, will extend Grundfos’ portfolio beyond pumps and deeper into network monitoring and operations. As Grundfos is integrating not only digital solutions but also hardware solutions, the company is strengthening and expanding their offerings to water network customers such as utilities.

In this episode, host, Reese Tisdale, and Bluefield's Digital Water Analyst Christine Ow discuss the acquisition and what it might mean for digital solutions in water.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Water Reuse Builds Momentum in Europe

Bluefield Research — Tue, 25 Jul 2023 12:20:49 +0000

In Europe, the need for sustainable water management solutions has been magnified by last summer’s drought and record-breaking temperatures. The increasing severity of water stress remains a key driver behind the implementation of wastewater reuse. Particularly, in Southern Europe where water stress is more pronounced, the water reuse market has witnessed greater development, although with challenges associated with funding and regulations.

As a consequence, some Mediterranean countries have become notable leaders in the adoption of reuse projects, mainly focused on facilitating agricultural irrigation, and to a lesser extent irrigation of landscapes and recreational areas.

In this episode, The Future of Water host, Reese Tisdale, is joined by Bluefield analysts Chloé Meyer, Zineb Moumen, and Ethan Edwards to discuss the research methodology behind their latest analysis of Europe's municipal wastewater reuse market.

Key talking points:

How is the EU policy landscape changing?
Which countries are driving wastewater reuse in Europe?
A look at market attractiveness by country
What is the size of the market?

Bonus Content: Reese brings in Bluefield Senior Analyst Ethan Edwards to discuss his analysis of the 3M PFAS settlement. While there has been a fair amount of analysis on how utilities will address PFAS and emerging contaminants, the 3M settlement is a path to targeting the production source.

As discussed, Bluefield’s updated PFAS remediation forecast estimates that drinking water utilities will spend a total of nearly US$13.5 billion between 2023 – 2030, up from a previously forecasted total of US$6 billion because of pending EPA guidlines and the legal settlements.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

How Real Is the Thames Water Crisis?

Bluefield Research — Tue, 11 Jul 2023 13:14:33 +0000

The potential collapse of Thames Water is all over the news and has raised alarm bells on many fronts. Thames Water serves approximately 15 million people across greater London. Not a small system by any comparison, and it seems to be sinking under a £14 billion debt load, thereby requiring more money.

In this episode, Bluefield's water experts shed some light on what has led up to this crisis and discuss best possible steps for Thames Water's debt problem.

Bluefield co-founders Reese Tisdale and Keith Hays shed light on the state of the U.K. municipal water market, the country's regulator Ofwat, and private players in the fully privatized utility market.

A Review of the State of the Water Industry

Bluefield Research — Tue, 20 Jun 2023 12:41:05 +0000

In recent weeks, both the American Water Works Association (AWWA) and Black & Veatch released their industry surveys of the market. We thought it might be interesting to dig in a bit, and share Bluefield perspectives.

Bluefield's water experts discuss the survey findings and breakdown the top water industry issues: aging water infrastructure, supply chain challenges, cybersecurity, financing capital improvements, climate change, pollution. How did these industry issues rank? Were there any surprises? and which issues moved up in rankings from last year?

Bonus Content

For those not in the know, Charlie Suse, an analyst at Bluefield, has been taking some deep dives into water management in Latin America. Most recently, he produced research on Brazil’s private water landscape- Competitive positioning and market trends. Because it is hot in his mind and about to be released, I thought it would be good to tap Charlie’s brain for a couple takeaways.

Reese Tisdale is joined by Bluefield's Eric Bindler and Charlie Suse.

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What's the Addressable Market for Water Utility Consolidation?

Bluefield Research — Tue, 06 Jun 2023 13:52:20 +0000

There are over 72,000 community water systems and wastewater treatment facilities in the U.S. But what is the addressable market opportunity for water and wastewater for utilities and investors? And how do the opportunities vary by utility ownership, system size, and state?

Our clients have been asking Bluefield to size the municipal water and wastewater sectors to help support their market entry, investment, and consolidation strategies. In this case, the magic number is US$977 billion. What's behind that number and how does the opportunity vary by water and wastewater?

Listen to this episode to learn more about sizing the market for utility consolidation opportunities. Reese Tisdale is joined by Isabel Kezman to discuss her recent in-depth data analysis of the U.S. municipal water sector.

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What's Behind Engineering Firms' Strategy Shifts in Water?

Bluefield Research — Tue, 23 May 2023 12:39:16 +0000

Jacobs, one of the leading engineering firms in water, announced plans to spinout its Critical Mission Solutions business unit. With this move, the company streamlines their business focus, including on water, and boosts share price in the wake of higher margins and growth.

On 9 May, Jacobs announced plans to separate its CMS, or Critical Mission Solutions, business. In doing so, it aims to carve out two businesses that are demonstrating different margins and growth rates.

CMS, which generated approximately $4.4 billion in revenue in 2022 by providing technical consulting, applied science research, training, intelligent asset management and program management services to federal government agencies. This includes space, national security, nuclear remediation and 5G technology.

The remaining Jacobs business, which generated approximately $10.5 billion in 2022, will provide consulting, planning, engineering, design and program management solutions to state, local and national governments and private sector clients, globally. This includes water and environment, energy transition, transportation and advanced manufacturing sectors.

Reese Tisdale talks to Greg Goodwin about his recent research and perspectives on engineering firms and their competitive strategies in water.

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Will Semiconductor Boom Drive Water Market Opportunities?

Bluefield Research — Tue, 02 May 2023 13:11:36 +0000

The semiconductor market is a buzz with activity as high demand—primarily driven by consumer electronics and automotive sectors—and policy, namely the U.S. and the EU Chips Acts, come together to create a favorable environment for billion dollar investments for new semiconductor manufacturing plants.

In the wake of global supply chain bottlenecks, semiconductor manufacturers are accelerating production to meet chip quotas. The US$573 billion semiconductor industry is expected to exceed US$1 trillion by 2030, primarily driven by soaring demand from the consumer electronics and automotive sectors.

Bluefield's water experts discuss where the investments are happening, globally, and what does it mean for water usage and water sector opportunities.

Reese Tisdale speaks with Bluefield's Amber Walsh about the policy impacts on water management for semiconductor facilities.

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EU Regulators Ramp Up PFAS Action for Drinking Water, Biosolids

Bluefield Research — Tue, 18 Apr 2023 13:04:15 +0000

Bluefield's water experts discuss the European Chemical Agency's (ECHA) recent launch of a six-month evaluation to review a proposal for restricting the use of per- and polyfluoroalkyl substances (PFAS). The proposal, submitted by the Netherlands, Germany, Denmark, Sweden, and Norway, is representative of public concerns that are escalating in the EU and applies to both the production and use of PFAS in products, including those that are imported into the European Union. The initiative signals the next step toward tighter regulatory enforcement of these contaminants of emerging concern on the continent.

Out of Europe, Chloe Meyer joins Reese Tisdale talk about EU policies for PFAS and emerging challenges across the region.

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A Perfect Storm: Tribal Infrastructure Investment, Western Water, and the U.S. Supreme Court

Bluefield Research — Tue, 04 Apr 2023 12:37:29 +0000

On 20 March 2023, the U.S. Supreme Court heard oral arguments of Arizona v. Navajo Nation, a dispute over Colorado River water rights. The court’s decision could have significant implications for the water rights of Tribes across the country. Navajo Nation is one of the Indian Health Service (IHS) administrative areas with the greatest need for water and wastewater infrastructure construction and rehabilitation.

Recent federal funding outlays—including the 2021 Infrastructure Investment and Jobs Act (IIJA) and the US$1.7 trillion OMNIBUS bill passed in December 2022— have given the IHS historically high levels of access to federal funding. The allocations aim to address long standing deficiencies in drinking water and sewer infrastructure for tribal communities.

The combination of increased available funding and extreme water stress in the Colorado River basin presents a market opportunity over the next five to eight years through municipal water and sewer construction and rehabilitation projects.

Bluefield's water experts– Reese Tisdale and Greg Goodwin– talk about the scale of federal funds allocated to Indian reservations, the potential impact of pending lawsuits at the Supreme Court, and the impact of declining Colorado River water levels.

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Digital Disruption In The Century-old Water Metering Market

Bluefield Research — Tue, 21 Mar 2023 11:37:10 +0000

The global water metering market is at an inflection point, as a host of new digitally enabled technologies and business models transform global water utilities’ relationships with their meters and meter providers. Metering vendors face a host of macroeconomic, regulatory, and competitive shifts.

COVID-related supply chain disruptions and component shortages have roiled the sector, delaying projects and new product development even as post-pandemic stimulus funding drives record levels of meter market demand.

Reese Tisdale talks to Bluefield’s Eric Bindler about competitive trends, notable shifts in the market, and the global water forecast across 45 countries.

Rest Tisdale is lined by Sr. Research Director Eric Bindler to cover the wide-sweeping digital disruption in the water sector.

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IOU Acquisition Trends: States & Buyers to Watch and Deal Drivers

Bluefield Research — Tue, 28 Feb 2023 17:46:06 +0000

Charlie Suse's year-end analysis of investor owned utilities has revealed a stabilization of M&A activity among IOUs, with a notable decrease in 2022 compared to the previous year. During this time period, Texas has emerged as a major hub for such acquisitions, and there was a significant rise in fair market value (FMV) deals, indicating a streamlining of the regulatory process.

Key questions asked, include:

What were the most active states for IOU acquisitions in 2022?

Who were the most aggressive buyers in the IOU space in 2022?

How are FMV policies impacting the characteristics of IOU deals?

Can you tell us about the community in Arizona that has lost its water supply and how it relates to investor-owned utilities?

Reese Tisdale is joined by Private Water Analyst Charlie Suse to break down investor-owned utility M&A trends and opportunities in the water sector.

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The EU's Sweeping Push for Corporate Sustainability

Bluefield Research — Tue, 14 Feb 2023 14:06:18 +0000

Bluefield's Amber Walsh has been examining corporate sustainability, specifically focusing on how companies minimize their environmental impact, particularly in relation to their water footprint. While climate and greenhouse gas (GHG) emissions have traditionally been the primary focus of sustainability, water issues are gaining attention due to their financial implications and public pressure, which can affect brand perception. Policy mandates, such as those requiring reporting, are seen as a driving force for companies to address water-related risks.

The new EU Corporate Sustainability Reporting Directive (CSRD) is discussed, highlighting its significance in increasing the transparency of corporate environmental footprints. This directive expands the scope of companies subject to sustainability reporting and standardizes the process across the EU.

The discussion also touched on how increased reporting leads to more water management projects and opportunities for third-party providers. It was noted that, sector-wise, there are variations in water usage trends, with some industries and regions showing reductions while others increase, influenced by factors like energy source transitions.

Reese Tisdale is joined by Bluefield's Amber Walsh and Ethan Edwards to discuss the potential impacts.

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Xylem + Evoqua = What Does It Mean for the Water Industry?

Bluefield Research — Tue, 31 Jan 2023 14:09:19 +0000

On 24 January 2023, US-based Xylem Inc. and Evoqua announced an agreement in which Xylem will acquire Evoqua in an all-stock transaction for an enterprise value of approximately US$7.5 billion. The combination unlocks potential growth opportunities for Xylem in industrial markets and in water quality, both of which are stronger markets for Evoqua.

Pure-play water deals of this size in the water sector are infrequent, at best. Bluefield’s water experts break down the terms of the deal and analyze the benefits for Xylem, possible market signals, and integration challenges for employees and customers.

Bluefield’s Reese Tisdale, Keith Hays, and Ethan Edwards walk through the details, including competitive impacts and reasons for the deal.

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IIJA: Water Funding and Policy Developments

Bluefield Research — Tue, 17 Jan 2023 13:46:57 +0000

How are IIJA legislated funds unfolding? From California to Maine, total announced funding associated with the legislation had reached US$186.3 billion. Of this total, US$10.5 billion has been announced for water-designated projects. At the same time, the U.S. The Environmental Protection Agency’s (EPA) Office of Water has released implementation guidelines for the Build America, Buy America (BABA) domestic sourcing requirements that were enacted as part of the IIJA.

Bluefield's water experts– Reese Tisdale, Eric Bindler, Lauren Balsamo– share their perspectives on the recent water allocations and policy developments, providing companies across the value chain a better understanding of how and where the dollars are flowing.

PFAS: Where Is the U.S. Water Market and beyond Headed?

Bluefield Research — Tue, 06 Dec 2022 14:51:56 +0000

PFAS is the water industry topic du jour, shaped by lawsuits, emerging regulations, infrastructure investment and disadvantaged communities. So far, however, much of the focus has been on the U.S. drinking water sector. But these emerging contaminants are impacting water supplies and, as a result, policy makers in Europe and Australia.

Varied approaches to tackle PFAS exist across the globe, including by regional adoption, nation-wide action, and incremental growth markets.

For this reason, Reese Tisdale speaks with colleagues Keith Hays and Lauren Balsamo to share their perspectives on how cities, communities, and companies are approaching emerging contaminants, globally.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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What's Behind the Rise in Private Participation in Water?

Bluefield Research — Tue, 22 Nov 2022 13:13:36 +0000

Shaped by a growing demand for water & wastewater infrastructure investment and an increasingly favorable policy landscape, private participation among U.S. utilities is on the rise. Bluefield's water experts discuss their recent analysis of investor-owned utilities' strategies, highlighting M&A trends and how companies—from American Water to private equity-backed firms—are approaching the water market.

Reese Tisdale is joined by Bluefield water experts Isabel Kezman and Charlie Suse.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Related Research & Analysis:

Which Municipalities Are Driving Climate and Water Sustainability?

Bluefield Research — Tue, 08 Nov 2022 14:51:59 +0000

Bluefield’s industrial water experts breakdown their recent analysis of 35 large U.S. cities with climate action plans which evaluates greenhouse emissions, energy use, reduction strategies, and water management positions. This discussion provides insight into why more U.S. cities are not developing climate action plans but also the variation in approaches for those cities with mitigation strategies— strategies that are indicators of future shifts in water management.

Reese Tisdale speaks with Amber Walsh about her in-depth analysis of municipal climate action plans and the role of water in their making.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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The Water Sector’s Carbon Footprint: Evaluating Utility Roles in Municipal Climate Action Plans

Tapping Water Utility Data for Business Strategies

Bluefield Research — Tue, 25 Oct 2022 13:26:26 +0000

In this episode, our data team discusses Bluefield's utility data and details the journey to collect and inventory 747 capital improvement plans that have been scrubbed and cleaned for Bluefield clients. This discussion provides insights into what the data is, the value of the data, and how Bluefield clients are using this bottom-up, detailed information.

Reese Tisdale speaks with John Berryman and Jaime Colón.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Water M&A, Recent Deals, Trends, and Outlook

Bluefield Research — Tue, 11 Oct 2022 10:56:02 +0000

The Bluefield team talks mergers and acquisition trends across the global water sector, providing insight into the slow down of deal flow activity. Reese Tisdale and Steph Aldock discusses the impacts of big deals, new market entrants, and the impact of global economic volatility. While it seems like the bottom may have fallen out of the market, positive signals are ahead.

As Reese says, “It will be interesting to see what happens with American companies going abroad because the American dollar is really strong right now.”

Key questions asked, include:

How is M&A Looking this year?

Why are seeing less deal flow activity?
Now that the dollar is strong will we see US Company expansion?
Will recent policy shifts (like IIJA) boost deal flow?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Who’s messin’ with Texas Water Utilities

Bluefield Research — Tue, 27 Sep 2022 17:07:16 +0000

The Bluefield team discusses their take on private participation in water, breaking down the where and who is leading the way. The discussion builds off of Bluefield’s analysis of investor-owned utilities, contract operations firms, and market analysis.

What is the share of private utility ownership in the U.S.?
What is the impact of the Corix/ SouthWest Water deal and how is deal flow overall?
Why is the Texas market particularly attractive?
Who are the biggest players?

Reese Tisdale, in addition to being joined by Steph Aldock and Isabel Kezman, also sheds light on his recent attendance at the National Association of Water Companies (NAWC) conference.

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We've Been Talkin' 'bout Jackson

Bluefield Research — Tue, 13 Sep 2022 12:38:22 +0000

Bluefield's water experts breakdown the how and what's behind the ongoing water and wastewater crisis in the capital city of Jackson, MS. From drinking water quality issues to infrastructure funding to wastewater challenges, Reese Tisdale discusses the whole convergence of water-related challenges facing water utilities and disadvantaged communities.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Water Sector Gatekeepers: Engineering Firms Build Out Digital Water Strategies

Bluefield Research — Tue, 30 Aug 2022 13:37:25 +0000

Digital technology is everywhere, including for water applications. A lot is happening when it comes to hardware, software, and services. Bluefield water experts dive into the role of engineering firms and discuss market challenges, strategic shifts, spinouts, recent M&A, and strategic announcements by firms active in water.

Podcast host, Reese Tisdale, leads this discussion with Senior Research Director Eric Bindler.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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How Will the Inflation Reduction Act Reshape Water Market Opportunities?

Bluefield Research — Tue, 16 Aug 2022 12:25:58 +0000

The Inflation Reduction Act (IRA) represents the biggest move by the federal government to address climate change. Not only does it support an energy transition that has been in the making for decades, it opens the door to new tech, new business models, and, for Bluefield, a pivot towards new opportunities in water.

Podcast host, Reese Tisdale, and Sales Director John Berryman take on the IRA and its potential impact on the water industry. From the power and automotive sectors to municipal utilities, approaches to water management and opportunities are forecasted to change through an energy transition that is already underway.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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The Heat Is On: The State of the Global Water Market

Bluefield Research — Tue, 26 Jul 2022 14:28:54 +0000

Unusually hot temperatures and droughts are affecting regions all over the world from Europe, South Asia, Iraq to Mexico–particularly affecting agricultural industries. New data from the United Nations shows that the number and duration of droughts are on the rise.

Bluefield’s water experts discuss how prolonged droughts will affect water consumption for municipalities, but also for the agricultural and power sectors and give their take on opportunities in water sector investment.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Related Research & Analysis:

Breaking Down the Global Desalination Market

Bluefield Research — Tue, 12 Jul 2022 13:10:41 +0000

The effects of climate change, population growth, and the rise of industrialization have played a significant role in water scarcity and have had a substantial impact on water demand. Bluefield’s water experts discuss findings from their recent analysis of large scale global desalination market, project activity, ownership trends, and technology shifts. In today’s episode, Reese Tisdale is joined by Senior Analyst Isabel Kezman.

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Build America, Buy America: What Does It Mean for the Water Sector?

Bluefield Research — Tue, 21 Jun 2022 13:16:29 +0000

Bluefield’s Reese Tisdale, Eric Bindler, and Greg Goodwin discuss the Build America, Buy America Act and its implications for the water sector in the U.S. While designed to create an opportunity to increase domestic manufacturing, support the creation of jobs, and strengthen U.S. supply chains, it arrives at a time in which inflation and supply chain bottlenecks are of greater concern. Bluefield’s team seeks to lay out the challenges the bill presents and discusses if it just arrived at the wrong time.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Milestone Episode: Disruptors, Winners & Losers, and Trends in Water

Bluefield Research — Tue, 07 Jun 2022 10:58:52 +0000

In this milestone, 50th episode, the Bluefield team looks farther ahead to talk about global disruption, potential winners & losers, and critical trends shaping the future of water.

Podcast host Reese Tisdale is joined by Bluefield’s Steph Aldock, Keith Hays, and Eric Bindler.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Related Research & Analysis:

California Drought, Blackouts, and the End for Desalination?

Bluefield Research — Tue, 24 May 2022 17:20:08 +0000

Bluefield's water experts discuss the mixed signals being received from California, in terms of drought, desalination, and the interconnection between water and power. This discussion identifies the challenges and opportunities for water management, using California as a potential bellwether for the U.S., if not the rest of the world.

Six Trends Shaping the Longer-Term Outlook for Water

Bluefield Research — Tue, 03 May 2022 11:45:36 +0000

Bluefield’s water experts discuss key trends shaping water infrastructure, investment, and strategies over the next three to five years, framing the longer-term market outlook for the water sector. Bluefield’s Sales Director John Berryman and Senior Reserach Director Eric Bindler join Podcast host Reese Tisdale on this discussion.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Related Research & Analysis:

Is a Market for Residential Water Reuse Developing?

Bluefield Research — Tue, 19 Apr 2022 20:56:30 +0000

Reese Tisdale is joined by Bluefield Industrial Water Analyst Amber Walsh to discuss recent analysis on residential water management and reuse. A new group of firms, globally, are emerging to capture household greywater for non-potable applications. But they are also doing so through key, if not critical, partnerships. In this episode, Reese and Amber discuss residential reuse — the market landscape, emerging players, and business models.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

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Related Research & Analysis:

Digital Water Trends and Market Review

Bluefield Research — Tue, 05 Apr 2022 13:38:37 +0000

2021 was a positive year for the water market, overall, with record levels of deals, but the digital water market saw mixed results in M&A and in the VC space. Podcast host, Reese Tisdale, hosts Bluefield’s discussion on key trends that impacted digital water in 2021 and opportunities identified expected for the year ahead.

Although, supply chain disruptions, inflationary pressures, and growing geopolitical tensions pose downside risks, economic recovery from the COVID-19 pandemic and large-scale infrastructure stimulus funding packages across key global water markets should provide strong tailwinds for digital water providers.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

A Closer Look at IIJA and State Revolving Funds

Bluefield Research — Tue, 15 Mar 2022 13:45:25 +0000

On 8 March 2022, the U.S. Environmental Protection Agency (EPA) issued a memorandum to guide collaborative implementation with state, local, and tribal partners of US$43 billion in water infrastructure funding through the Bipartisan Infrastructure Law. The EPA’s memo outlines requirements and recommendations for the Drinking Water and Clean Water State Revolving Funds (SRFs). From disadvantaged communities to state revolving funds, industry players have been awaiting guidance on changes to the well-established program.

In this episode, Podcast host, Reese Tisdale, and Bluefield’s Greg Goodwin and Eric Bindler, discuss federal funding for water infrastructure and address key questions that have come our way in recent months.

What are the baseline factors in the recent EPA memo?
Why should industry players care?
What is different?
What are the challenges or issues with the SRF program?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Looming Energy Crisis to Squeeze Water & Wastewater Utilities

Bluefield Research — Tue, 01 Mar 2022 13:55:40 +0000

The conflict between Russia and Ukraine (and the world) will have cascading effects on international energy markets, particularly those more heavily reliant on natural gas, let alone Russian natural gas. The water sector is at risk to energy markets, globally, and is now being compelled to adopt more energy efficient tools and solutions.

This episode, discusses what this conflict might mean for water & wastewater utilities going forward. Host, Reese Tisdale, is joined by Bluefield’s Keith Hays to discuss the potential impacts and changes going forward for water. Not only do they discuss EU constraints on natural gas supplies, they highlight border issues related to water and energy, such as South African power blackouts and Winter storms in Texas.

Key questions addressed:

What does an energy crisis mean for water utilities and industries?
Which countries are likely to be most affected?
What can utilities do to insulate themselves from water / energy risks?
Does anyone benefit?

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Is Household Water Management Overlooked as an Opportunity?

Bluefield Research — Tue, 01 Feb 2022 14:24:51 +0000

Podcast host, Reese Tisdale, and Bluefield’s Senior Analyst Amber Walsh explore potential missed opportunities in household water management. Although domestic water or household water usage represents a small share of the pie, it could represent an enormous opportunity for water management, investment, and advanced data applications. As such, digital water vendors, technology companies, and consumer product companies are looking at opportunities for monitoring, reducing and improving home water use.

Another stakeholder who could be exploring domestic water as opportunity is the homeowner. Listen in on this interesting discussion to learn more about why we should all think deeper about the water we consume in the home.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Domestic Water: Drivers and Emerging Trends for Advanced Water Management in the Home, U.S., U.K., Australia

Bottled Water Craze Raises Questions about Water Quality & Utility Strategies

Bluefield Research — Tue, 18 Jan 2022 12:35:40 +0000

In this episode, Bluefield’s Keith Hays and Eric Bindler, delves into the canned-water company Liquid Death and the growing questions about bottled water, the incredible size of the bottled water market, and potential risks to water utilities, from perception to customer erosion. At the beginning of 2022, Liquid Death announced that it landed more than US$75 million in funding to expand its footprint. Growth + Water is a good thing in many cases, but Bluefield’s water experts raise concerns facing municipal water utilities and about tap water.

If you enjoy listening to The Future of Water Podcast, please tell a friend or colleague, and if you haven’t already, please click to follow this podcast wherever you listen.

If you’d like to be informed of water market news, trends, perspectives and analysis from Bluefield Research, subscribe to Waterline, our weekly newsletter published each Wednesday.

Related Research & Analysis:

Amidst Pandemic, Bottled Water Underscores Utility Communication Challenge

Retrospective: The Biggest Stories in Water in 2021

Bluefield Research — Tue, 21 Dec 2021 13:10:03 +0000

As we close out 2021, Bluefield digs into the top stories that defined water this past year, for good and bad. We’ll take a look back at how COVID-19 and supply chain disruptions influenced water investment and revisit some predictions for the year that did or did not come to fruition.

Workforce Disruption: Who do Utilities Call for Help?

Bluefield Research — Tue, 07 Dec 2021 14:25:07 +0000

According to an October AWWA survey, key issues facing water sector utilities and service providers in the U.S. and Canada are hiring difficulties and supply chain issues. Hiring, employee turnover, staffing continuity, and chemical supply chain issues are among the list of top challenges. What is the outlook for the water sector and where do utilities turn for help in addressing these COVID-related impacts? The Bluefield team discusses the potential for accelerating adoption of third-party services in the water sector.

Water Wins Big in Infrastructure Bill

Bluefield Research — Tue, 23 Nov 2021 13:27:24 +0000

As Congress has seemingly crawled across the finish line for a momentous infrastructure bill, executives in the water sector have expressed some frustration that the total amount of the bill is not enough to take on the myriad of challenges. Bluefield’s Greg Goodwin and Reese Tisdale take a more optimistic and expansive view of the bill and share thoughts on the basics, where the dollars are going, and who might be the winners.

Water news…

Recent news headlines and what they could mean for the water sector.

Gradiant, an onsite, industrial water treatment solutions provider and project developer announced US$100 million in Series C funding. The round was led by Warburg Pincus and Schlumberger New Energy. The round brings Gradiant’s total funding to date to over US$200 million since inception. In recent years the company has built out its Asia footprint via acquisitions of Sigma Water (Malaysia) and CRS Water (Australia).

AECOM has launched Digital AECOM to help clients accelerate their digital positions. The strategy will follow two paths: Digital Consulting Services and Digital Products. The latter will include its PlanEngage product that focuses on stakeholder engagement and planning process and PlanSpend that is a capital planning platform. Given the role of EPCs as gatekeepers of sorts to capital and operating investment decisions, this represents another important player moving into digital solutions and products.

Deals, Deals, Deals

Bluefield Research — Tue, 09 Nov 2021 15:04:31 +0000

Deal activity in water is climbing. If activity in the Private Water and Digital Water sectors keep pace, as it has historically over the past few years, this year’s transactions in water will surpass 2020’s 368 transactions.

Reese Tisdale talks about deals that are interesting to him and what they mean for the water sector: 1.) NextEra carving out a new water platform with its acquisition of a regulated utility in Texas. While not its first in water, the acquisition of Quadvest, LP falls in line with an emerging water-focused strategy the company has undertaken over the last two years. NextEra’s recent moves into water—acquiring utility assets (Quadvest) and distributed services capabilities (Sustainable Water)—point to a more significant, longer-term strategy that dovetails with its renewable growth playbook. 2.) Inframark acquires Georgia-based O&M services provider, ESG Operations, in a transaction that follows suit with the company’s path to growth through M&A, as well as one that can help grow Inframark’s industrial business.

In addition to M&A activity, Bluefield monitors ongoing strategic shifts and market trends of top companies in water and tracks data of global digital water solutions providers. Top takeaways from these analyses: 1.) Q2 2021 numbers show record revenue growth in the water industry, with nine of the 45 tracked companies reporting year-over-year growth over 25.0%. 2.) 45.6% of the digital water companies profiled provide digital solutions for utility asset management or conveyance network operations. Meanwhile, data management, analytics, and cybersecurity have seen the fastest growth in terms of new companies formed.

What Did We Learn at the World’s Largest Wastewater Conference?

Bluefield Research — Tue, 26 Oct 2021 13:52:57 +0000

Bluefield’s digital water expert, Eric Bindler, breaks down his key findings from attending this year’s WEFTEC in Chicago. Eric discusses new product launches from Kando and Schneider Electric, water sector staffing and hiring issues, the potential impact vaccine mandates may have on utility and vendor workforces, and new market entrants.

Drought, Floods Disrupt Global Water Sector

Bluefield Research — Tue, 12 Oct 2021 14:37:14 +0000

The world is in a seemingly crazy and disjointed place, as climate, COVID, and geopolitical issues influence water markets. Bluefield’s water experts address some key trends and events impacting water and global water management giving their perspectives on everything from climate’s role and impact, the water/energy nexus and a potential shift to a fossil fuel generation, and global scale supply chain issues.

Tight Supply Chains Squeeze the Water Industry

Bluefield Research — Tue, 14 Sep 2021 14:41:54 +0000

Companies across the water industry are feeling the effects of supply chain constraints, which are creating headwinds even as demand soars from 2020 levels. Key inputs such as plastic resin, iron and steel, copper, and semiconductors have seen double-digit price increases, impacting firms as diverse as pipe OEMs, treatment chemical suppliers, and metering firms. Bluefield’s Nathan Goldstein shares some of his perspectives on his recent analysis of global supply chains.

Water news…

Reese also shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

Artesian Wastewater Management Inc.’s, US$6.4 million acquisition deal for Tidewater Environmental Services Inc. (TESI), a Delaware sewer utility.

Do Droughts Impact Household Water Rates?

Bluefield Research — Tue, 31 Aug 2021 14:48:21 +0000

For the sixth consecutive year, Bluefield Research has embarked upon an analysis of the water and wastewater rates in the U.S. and the impacts on residential water and wastewater bills. Bluefield’s Erin Bonney Casey shares her perspective on her recent analysis of utility water rates and potential impacts of drought on customer water bills. The analysis comes at a time when the Colorado River Basin is under significant threat, so much so that water allocations are being cut for lower basin states. A simple question to ask is, should our water rates go up based on supply and demand?

How Have Water Utilities Fared from COVID?

Bluefield Research — Tue, 17 Aug 2021 15:07:00 +0000

Reliance on data played a fundamental role in helping utilities understand and manage the impacts of COVID-19. From utilities devising new customer communication strategies to the future of the utility business model, Bluefield’s Digital Water Research Director, Eric Bindler, discusses key findings from attending this year’s Utility Management Conference in Atlanta…

Water news…

Reese also shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

Milwaukee-based water technology company A.O. Smith has acquired a Pennsylvania-based water treatment company, Master Water Conditioning Corp., the company’s fifth water treatment acquisition since 2021.
Pacífico brewery in Mazatlán, Sinaloa, accused of owing 300 million pesos (almost US $15 million) to the city’s water authority, will hear the verdict of litigation proceedings on August 18.
Takeaways of the demise of Singapore-based desalination firm, Hyflux.

A Review: State of the Water Industry

Bluefield Research — Tue, 27 Jul 2021 13:30:38 +0000

The American Water Works Association just released its 2021 State of the Water Industry report which presents the findings of a survey of 3,021 water industry professionals. The survey is designed to identify key challenges in the water industry and their underlying drivers and causes. Despite the significant disruption in the water sector over the last year, the study indicates there is a rise in optimism among industy leaders. The Bluefield team provides their insights to frame recent industry trends, opportunities that lie ahead, and the optimism shared in the report.

Reese Tisdale
President
Bluefield Research

Eric Bindler
Research Director
Digital Water

Erin Bonney Casey
Research Director
Municipal Water

The Future of Water podcast series is where Bluefield water experts talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water.

Thank you for listening. Refer your colleagues. Please give us a review on Apple Podcasts, Google Podcasts, and Spotify.

The "Amazon Effect" on Water

Bluefield Research — Tue, 13 Jul 2021 13:08:36 +0000

The broader impact of connectivity, online commerce, and door-to-door delivery cannot be overlooked. Amazon garners the most attention, but it is not alone in shaping this new paradigm that has accelerated over the last year. From food for dinner to toilet paper, it is all being delivered in some form of packaging. Like anything, yes, anything, the impact on water usage is changing in parallel.

Bluefield’s Cullen Mitchell joins host Reese Tisdale to discuss the “Amazon effect” and its indirect impact on water for the pulp & paper sector, plastic manufacturing, and corporate sustainability.

Water news…

Reese also shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

Platinum Equity’s acquisition of Solenis, the global producer of specialty chemicals used in water-intensive industries
Acquisition of an existing 220-mile pipeline, the Cadiz “Northern Pipeline from El Paso Natural Gas (“EPNG”) by Cadiz, Inc.
Desalination and iodine concentrations among children in Israel

The “Amazon Effect” on Packaging, Water Management

Reese Tisdale
President
Bluefield Research

Cullen Mitchell
Analyst
Industrial Water

The Future of Water podcast series is where Bluefield water experts talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water.

Thank you for listening. Refer your colleagues. Please give us a review on Apple Podcasts, Google Podcasts, and Spotify.

Does California Deserve All the Drought Shaming?

Bluefield Research — Tue, 29 Jun 2021 19:01:01 +0000

It has only been a couple of years since California emerged from the last drought (2011-2019). Now it, alongside neighboring states, has been thrust into a seemingly worse situation than before. The alarm bells are ringing loud and clear, but what does it really mean? Host Reese Tisdale shares a couple of facts and thoughts on the drought and what this might mean for California, the region, and stakeholders.

It’s not just California. The entire West is smoking red hot, but there are some things the rest of the country could learn from California.
What came out of the state’s previous drought which lasted roughly seven long years, from December 2011 to March 2019?
Technology and solutions exist.

Reese Tisdale
President
Bluefield Research

What We Think about… When We Think about Water

Bluefield Research — Wed, 16 Jun 2021 18:37:33 +0000

Rather than focus on the nuts and bolts of the water industry, Bluefield shares broader market trends that are exciting our team. In this discussion, our water experts examine 7 key factors shaping the outlook of water management. From the Internet of things to the future of agriculture, the team looks at global drivers of change impacting the water sector– municipal and industrial. Market forces that impacted our outlook include COVID disruption of business models, political shifts, and changing consumer behaviors.

The Future of Water

podcast series is where Bluefield water experts talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water. Thank you for listening. Refer your colleagues. Please give us a review on Apple Podcasts, Google Podcasts, and Spotify.

Telecom Strategies Emerge at the Center of Digital Water

Bluefield Research — Tue, 01 Jun 2021 15:53:38 +0000

Data and the Internet of things are giving rise to a more notable group of influential companies in water: Telecommunications firms. By providing the essential “rails” for data transmission and connectivity between utility systems, assets, and companies, telecoms are poised to increasingly leverage their unique positions at the center of the digitization of water.

While utility needs vary, municipal water utilities and industry become more sophisticated in their adoption of digital solutions, telecoms also see it as an opportunity to capture new sources of revenue – as their core services become commoditized.

As Bluefield’s Digital Water team wrap-ups their analysis for an upcoming report, Connecting Water Infrastructure: Telecom Company Strategies in the Global Digital Water Market, they present key findings of their telecoms research in this discussion.

What is the role of telecoms in water today?
How do water utilities, in particular, use telecom services?
How are they positioned strategically?
What does the competitive landscape look like?

Water news…

Reese shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

Culligan International, the consumer-focused water solutions and services company, is being acquired by another PE firm, BDT Capital Partners for US$6 billion.
Core & Main, with US$3.4 billion in revenue, is ready to go public itself, a big move that has been in the works for four years.
GS Inima, a water treatment company headquartered in Spain, was acquired by GS E&C in 2011 and became a wholly-owned subsidiary in 2019, is now heading into an IPO.

Reese Tisdale
President
Bluefield Research

Eric Bindler
Research Director
Digital Water

Nina Rossiter
Analyst
Digital Water

The Future of Water podcast series is where Bluefield water experts talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water.

Thank you for listening. Refer your colleagues. Please give us a review on Apple Podcasts, Google Podcasts, and Spotify.

Cloud Solutions Opening Door to Smaller Water Utilities

Bluefield Research — Tue, 18 May 2021 13:44:44 +0000

A key factor driving the rapid growth of the global digital water market is the more mainstream adoption of cloud computing, according to Bluefield Research Director, Eric Bindler. While cloud- and SaaS-based solutions were first popularized in the late 1990s and early 2000s, the water industry has only recently begun to embrace them.

Captivating industry suppliers is the potential impact cloud computing has in penetrating smaller, more technologically risk-averse utilities. The limited need for onsite servers, tech personnel, and data management capabilities throws open the door of opportunity, enabling vendors to seek growth beyond the larger utilities. In many instances, the real need for efficiency improvements and better asset management is found in smaller communities, where capital and technology aversion represents a significant barrier to entry.

Bluefield water experts also discuss the just-announced digital platforms announcements by TetraTech and Stantec. Arcadis also gets a shout-out because of its new digital app store. The disruption is not just on the tech side of the equation, engineering firms are also navigating crosswinds that are impacting their own business strategies and long-held positions in the water sector.

Water news…

Reese also shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

California Water Service Group (Cal Water) announces the formation of a Texas subsidiary, Texas Water Service (TWSC)
Quebec-based H2O Innovation announces an expansion into Latin America and increased efforts in the North American water reuse market
Bluefield’s revised ten-year water & wastewater infrastructure CAPEX outlook.

Veolia and Suez Come to Terms, Redefining "Big Water"

Bluefield Research — Tue, 04 May 2021 13:38:39 +0000

For eight months Suez has pushed back against advances from Veolia in public via press releases, poison pills, and the entertainment of other suitors. However, on the 12th of April, Veolia and Suez announced that they have reached an agreement for a merger putting an end to the disputed takeover. The deal, which closes 14 May 2021, gives Suez an equity value of about €13 billion (US$15.4 billion). The combined entity will have approximately €37 billion (US$44.5 billion) in revenues.

Reese Tisdale is joined by Bluefield’s global water team Keith Hays, Vice President, and France-based Project Consultant Chloé Meyer to talk about the details of the merger, cultural issues, divestments, geographic strategies, and what the impacts and opportunities for the water sector might be.

Water news…

Reese shares his thoughts on the biggest water headlines.

Kimberly-Clark Corp. reaches settlement over its so-called “flushable” wipes.

Franklin Electric announces its acquisition of Puronics, Inc. a residential and commercial water treatment products and services provider.

Cease-and-desist order forcing Nestlé to stop pumping millions of gallons of water out of the San Bernardino.

Is Veolia Suez Marriage Good for the Water Sector?

Reese Tisdale
President
Bluefield Research

Keith Hays
Vice President, Consulting
Bluefield Research

Chloé Meyer
Project Consultant
Bluefield Research

The Future of Water podcast series is where Bluefield water experts talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water.

Thank you for listening. Refer your colleagues. Please give us a review on Apple Podcasts, Google Podcasts, and Spotify.

What’s the Outlook for Fixing America’s Lead Water Pipes?

Bluefield Research — Tue, 20 Apr 2021 14:02:11 +0000

It is finally “infrastructure week.” The Biden administration has proposed its US$2.2 trillion American Jobs Plan. Sure, the Biden plan is a wish list, but one thing that stands out for the water sector is the US$45 billion to tackle lead service lines. It is a well-documented, open secret that drinking water for millions of people is tainted with lead. For so long, no one has wanted to pay for this and there has been no documentation of the size of the problem, and now…. the world is bright.

Bluefield’s Reese Tisdale and Greg Goodwin discuss how big the problem is, the geographic impacts, and the types of companies and solutions positioning to solve the problem.

Water news…

Reese also shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

NW Natural Water Company recent acquisitions and agreements
Veolia /Suez SA end to the disputed takeover
Japan announces plans to release treated wastewater from Fukushima

Reese Tisdale
President
Bluefield Research

The Future of Water podcast series is where Bluefield water experts talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water.

Thank you for listening. Refer your colleagues. Please give us a review on Apple Podcasts, Google Podcasts, and Spotify.

Water Stress Undermines Global Supply Chains

Bluefield Research — Tue, 06 Apr 2021 13:35:44 +0000

Water touches almost every product, so it’s worth considering it as a critical input to every strategic supply chain decision. Climate issues continue to ripple through global industrial supply chains – from Texas to Taiwan. The combination of COVID-related shutdowns and drought is upending the industrial landscape. If anything, recent, water-related events show us how important it is to have a coherent water management strategy for today… and tomorrow. Even if your firm is not directly at risk, your supply chain very well might be.

Bluefield’s Reese Tisdale and Cullen Mitchell discuss some of the factors and risks associated with water, climate, and disruptions that will reshape global supply chains.

Water news…

Reese also shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

$111 billion for water infrastructure
Kickstart to the power sectors and what does this mean for water?
Transportation and new roads – opportunities for the water sector

World Water Day

Bluefield Research — Tue, 23 Mar 2021 14:00:38 +0000

In honor of World Water Day (March 22), this episode is dedicated to raising awareness of the value of water. We took this opportunity to have a conversation to call your attention to water, what it means to you, how society can better protect this vital resource, and how Bluefield Research falls into that landscape.

John Berryman interviews Bluefield President, Reese Tisdale, about the journey of Bluefield Research, why water, how has the water sector changed since 2013, does Bluefield have a responsibility to educate on big picture water issues impacting society, and more.

Reese Tisdale
President
Bluefield Research

John Berryman
Sales Director
Bluefield Research

The Future of Water podcast series is where Bluefield water experts talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water.

Thank you for listening. Refer your colleagues. Please give us a review on Apple Podcasts, Google Podcasts, and Spotify.

Special Episode: Big Acquisitions in Water Are a Big Deal

Bluefield Research — Tue, 09 Mar 2021 21:56:50 +0000

In response to three recent billion-dollar water deals, Bluefield is releasing a special episode of The Future of Water—to help our listeners break down what this growing interest in water means.

Bluefield’s Reese Tisdale and Keith Hays discuss what has fundamentally changed in the market that makes water more attractive for investment now, characteristics of the recent megadeals, and what these transactions might mean for the water sector going forward.

New Mountain Capital acquired Aegion Corporation for $963 million
Autodesk made the long-awaited acquisition of Innovyze for $1 billion
Quikrete is buying pipe supplier Forterra, Inc. for $2.74 billion

Is Texas Water Crisis a Harbinger of Climate Risk?

Bluefield Research — Tue, 09 Mar 2021 16:43:19 +0000

This discussion delves into the water crisis in Texas, climate, and what climatic events could mean for sustainable water management going forward. Over the last two weeks, Texas has been in the news for all the wrong reasons. More than 14 million people have been impacted by a freeze-out that was catalyzed by a failure of the energy and power sectors. The result has been water main breaks, boil water advisories, and flooded homes.

The Texas blackout of 2021 is not a 100-year event. Bluefield’s Reese Tisdale and Erin Bonney Casey consider what has happened in the Lone Star State and how it signals real concerns for the future. Industry, municipalities, and water sector stakeholders will be forced to take water management into their own hands.

Water news…

Reese shares his thoughts on the biggest water headlines.

Autodesk acquired Innovyze for $1 billion, Quikrete acquired Forterra for 2.74 billion, New Mountain Acquires Aegion for $963 million.
American Society of Civil Engineers is slated to release its report card for U.S. Infrastructure.
Cybersecurity and water quality hacks.

Digging into the Aegion/New Mountain Megadeal

Bluefield Research — Tue, 23 Feb 2021 14:53:19 +0000

Digging into the water sector’s latest megadeal between Aegion and New Mountain Capital. Aegion Corporation, a provider of infrastructure maintenance, rehabilitation, and protection solutions announced that it has accepted an offer to be acquired by private equity (PE) firm New Mountain Capital. The transaction, valued at approximately US$963 million, represents a second big step for the PE firm after recently acquiring utility contract operation services provider Inframark.

The convergence of financial stress and aging pipe infrastructure for water & wastewater utilities presents a unique opportunity for trenchless technology solutions providers to expand their market positions.

In this discussion:

Details of the deal
What is cured-in-place pipe and what are the benefits?
Who is New Mountain Capital?

Water news…

Reese also shares his thoughts on the fraying interconnection between critical infrastructure segments (water, power, gas) that is on full display in Texas.

Will a Biden Administration Really Impact Water Sector Investment?

Bluefield Research — Tue, 09 Feb 2021 11:00:09 +0000

Out of the gates the new president, emboldened by a slim majority in the Senate and House of Representatives, has begun laying out a roadmap for change in infrastructure investment and environmental policy. The Biden administration has touched upon climate, lead & copper, water quality, and infrastructure and the outlook for change is positive. In this episode, the Bluefield team provides their insights on what this new administration means for water sector investment as well as the not to be forgotten headwinds we currently face—COVID, municipal budgets, and employment.

Water news…

Reese also shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

Congressional PFAS Task Force has been relaunched
Nevada is in severe drought
Doosan lands another desal contract

Reese Tisdale
President
Bluefield Research

Erin Bonney Casey
Research Director
Municipal Water

Cullen Mitchell
Analyst
Industrial Water

The Future of Water podcast series is where Bluefield water experts talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water.

Thank you for listening. Refer your colleagues. Please give us a review on Apple Podcasts, Google Podcasts, and Spotify.

Are Municipalities Benefitting from Fair Market Value Legislation?

Bluefield Research — Tue, 26 Jan 2021 13:19:12 +0000

On average, Bluefield’s team of water experts tracks more than 125 utility acquisitions per year. Reese Tisdale talks to Bluefield Analyst Mariel Marchand about utility acquisitions and the impact of Fair Market Value policies and legislation on M&A activity. Bluefield’s quarterly analysis of deal flow and buyers and sellers allows for a well-rounded discussion on private water and the outlook for more activity among established, frontrunning players and new(er) market entrants.

Water news…

Reese also shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

Black & Veatch’s divestment of Atonix
Badgers acquisition of ATI
Veolia gets a challenge for Suez

New Year Episode: Biggest Headlines, Challenges, and Trends Influencing Global Water

Bluefield Research — Sun, 10 Jan 2021 13:54:40 +0000

In Bluefield’s first podcast of the year, Reese Tisdale, Eric Bindler, and Erin Bonney Casey reflect on some of last year’s biggest water headlines, discuss future challenges, and identify top trends influencing global water markets. While 2020 was unusual, to say the least, the new year ushers in an altered landscape for water solutions providers, investors, organizations addressing water as an opportunity (or risk). The impacts of climate, Big Tech, water quality, and recession loom large.

This discussion sums up Bluefield’s take on…

Top, water headlines of 2020
Biggest, ongoing challenges ahead
Key trends to look for in 2021

Water news…

Reese also shares his thoughts on recent news and highlights why these headlines matter and what they could mean for the water sector.

Inframark’s new owner
Black & Veatch’s divestment of its UK water business
The potential impacts of a democratic controlled House and Senate in the U.S. Congress.

Select companies mentioned:

Inframark, New Mountain Capital, RSK, Black & Veatch, Veolia, Suez, Vortex, BKP Berolina, Amazon Water, CISCO, Google….

Water for Power: The Remaking of the Electricity Landscape and its Impact on Water

Bluefield Research — Mon, 21 Dec 2020 22:28:24 +0000

Reese Tisdale and Bluefield Analyst Cullen Mitchell discuss the impacts of a changing energy landscape and its impact on water management. Over the last decade, the advent of shale oil & gas exploration, renewables, and battery power have upended traditional system structures and the opportunities for water services and solutions providers. Now, the emerging interest in electric vehicles, hydrogen-powered fleets, and power generation is a reality. Underlying this change is a set of policies and concerns about climate change. Cullen shares some insights from his recent research and brainstorms with Reese about how the world of water could change going forward.

Are Homes Getting Smarter with Real-time Water Management?

Bluefield Research — Mon, 07 Dec 2020 19:26:46 +0000

Reese Tisdale and Eric Bindler talk about the future of water management within the home. Newly announced strategic partnerships between Moen subsidiary Flo and Lennar signal growing potential for the niche market. Prior to the pandemic, the residential digital water segment had seen a flurry of activity among water entrepreneurs. Bluefield water experts discuss the COVID-related market slowdown for residential digital water startups and how the growing role of big tech firms like Amazon and Google in the home also presents a potential for disruption, which could, as well, impact water utilities and insurance company strategies.

In this Podcast

The strategic partnership of Moen Inc. and Lennar Corp. to deploy smart home water management & leak detection systems in newly built Lennar homes.
Smart home players partnering with homeowner insurance firms.
Are solutions providers competing with utilities?
What slow adoption of smart water technologies could mean for utilities' customer relations with ratepayers.
Implications of the pandemic on the residential digital water segment.

Brazil Looks to Private Participation in Water

Bluefield Research — Mon, 30 Nov 2020 17:30:55 +0000

Bluefield’s Reese Tisdale and Keith Hays discuss Brazil’s municipal water market and the implications for new policies launched to invite private participation. The mercurial Latin American economy has attracted a number of companies willing to ride a wave of opportunity that is not for the risk-averse.

Over 200 Brazilian municipalities are already served by fully private company concessions serving nearly 10 million people. Since 2018 the federal government has pursued privatization of several major water and sewer systems (e.g., Alagoas, Rio de Janeiro) via concessions.

Approved Bill PL 4.162 mandates that all municipalities in Brazil reach universal water and sewer access between 2033 and 2040 and obligates state and local water companies to prove their financial capacity to do so. If executed, this will bring sweeping change to ownership of the country’s municipal water networks and introduce hundreds of billions in investment funding.

In this podcast:

Why the water industry should be looking at Brazil
Brazilian Development Bank tenders and the main players
How Brazil is different from other global markets
A larger trend toward greater private participation in water

The Role of Private Equity in Water

Bluefield Research — Tue, 10 Nov 2020 11:48:04 +0000

Over the last 8 to 12 months, the number of private equity (PE) companies coming to Bluefield for support has increased exponentially. Bluefield President Reese Tisdale and Consulting Director Keith Hays discuss why private equity is turning to water, what they are investing in, and how Bluefield sees this playing out. Also discussed, the hot topic of the 2020 presidential election and how the outcome may impact the water industry.

In this podcast:

Why the water sector and shifts happening in water
Deal size, a challenge for PE firms?
Anatomy of deal origination
Outlook for PE firms in water

Playing Devil’s Advocate – What’s the Outlook for Municipal Water Infrastructure Investment?

Bluefield Research — Mon, 26 Oct 2020 17:07:16 +0000

Bluefield’s team of water experts discusses infrastructure investment and whether the market is heading up, down, or sideways. Some water industry pundits have said the pandemic is much ado about nothing. However, the Bluefield team doesn’t share this level of optimism, in fact, the team’s optimism at the start of the pandemic has eroded over the last six months because of extended state quarantines, remaining high unemployment, and mercurial, if not incoherent, U.S. federal guidance.

Last month, the Bluefield team presented its updated water sector forecasts in light of COVID-19, global economic uncertainty, industrial demand, and macroeconomic changes. As a number of Bluefield clients have questioned our assumptions about the historical, recessionary data and dynamic macroeconomic inputs that we use in our research, this discussion sheds light on conversations we are having at Bluefield Research.

Reese Tisdale, Erin Bonney Casey, and Mariel Marchand come clean about why they think the market is poised for a reckoning, despite select signals for optimism.

Seeing Double, The Rise of the Digital Twins in Water

Bluefield Research — Mon, 05 Oct 2020 16:31:04 +0000

Reese Tisdale and the Bluefield team of water experts discuss Digital Twins—hype or reality—and what the future holds. While the concept of virtual clones of operating assets (e.g., treatment plants, pumps, pipe networks) has been around for more than two decades, their applications are only recently gaining momentum in the broader water sector.

Keith, Eric, and Reese talk about the signposts that indicate growth, the competitive landscape, and how companies are positioning in this burgeoning market segment.

In this podcast:

What are digital twins?
Who are the companies driving this momentum and what are their approaches?
What are the pitfalls or challenges?
What are we monitoring in the market when it comes to this concept?

Is Veolia Suez Marriage Good for the Water Sector?

Bluefield Research — Mon, 21 Sep 2020 19:25:53 +0000

In this episode, Reese Tisdale sits down with Bluefield Vice President Keith Hays to talk about what we call “Big Water.” Veolia and Suez, two of the largest water solutions providers in the world are in merger negotiations again, and Reese and Keith discuss their perspectives on the proposed deal and companies themselves. They also get into whether a marriage between the two water behemoths is a good, or bad, thing for the water industry.

In late August, Veolia made an unsolicited offer to purchase French rival Suez. Veolia offered to buy a 29.9% stake in Suez from Engie SA, the first step toward a full takeover to create a water and wastewater treatment company with more than 40 billion euros in revenue. And it’s not the first time, Suez tried acquiring Veolia back in 2012.

In this podcast:

What would a potential Suez/Veolia deal mean for innovation?
How is Veolia getting ahead of any government pushback?
Are there other suitors or stalking horses?
How might this impact the startup-community?

Prepare to Fill Up Your Bathtubs

Bluefield Research — Tue, 08 Sep 2020 15:34:09 +0000

Bluefield water experts get into the hot topic of natural disasters and related water & wastewater infrastructure management. Since 1980 the number of these disasters has steadily increased. From 1980 to 2019, the U.S has sustained 258 climate-related events. These resource-intensive events include hurricanes, flooding, winter storms, and wildfires which bring on more acute challenges for cities and municipalities.

In this podcast:

Big picture risks to water utilities and the implications of a failure to the power grid
Workforce and crisis management and contingency plans
Critical institutional knowledge and workforce redundancies
Mission-critical communications strategies
Learning from past disaster-related damage to water resources and assets
Bluefield’s take on preparedness

Let's Make a Deal

Bluefield Research — Tue, 11 Aug 2020 20:50:24 +0000

It’s all about deal flow and recent M&A activity in the water sector. Bluefield’s Eric Bindler and Mariel Marchand share their perspectives on utility acquisitions, utility O&M, and digital water transactions in what can be considered a new environment, even for water. While talking about broader trends, some of the companies discussed include Aquatic Informatics, Danaher, XPV, and Veolia.

Questions raised in the discussion:

What is the state of the market and drivers for deal flow?
Do we think more deals are in the making?
What’s the role of private equity in deal flow?

Can Wastewater Save Lives?

Bluefield Research — Thu, 30 Jul 2020 18:08:39 +0000

In this episode, we discuss the hot topic of wastewater epidemiology and the heightened role it plays in our world today. Keith Hays, Vice President of Bluefield Research, discusses his latest research on pinpoint detection of pathogens and contagions in wastewater and the potential economic & healthcare benefits it could bring to society.

Key questions addressed:

What companies are leading the charge in wastewater testing?
Who is having success and who is moving along the path towards commercialization?
What is involved in this testing to be deployed and what is the timeframe?
What trends should we be keeping an eye on moving forward?

Money, Money, Money: Revenue Declines and Water Investment

Bluefield Research — Tue, 30 Jun 2020 18:16:20 +0000

In this episode, it's all about money, that is, how exposed are utilities, their budgets, and spending in a recession? Erin Bonney Casey, Research Director for Bluefield, answers key financial questions about public utilities, which serve about 85% of the total market. -Where do public utilities get their money? -Are there ways in which short-term operating expenses and long-term capital expenses (OPEX and CAPEX) funding sources differ? -What's the deal with State Revolving Funds?

Breaking and Entering: Water Sector Cybersecurity

Bluefield Research — Fri, 19 Jun 2020 05:13:14 +0000

Cybersecurity is the issue of the day. Bluefield’s President & CEO Reese Tisdale sits down with Bluefield’s Eric Bindler, to talk cybersecurity, water infrastructure, and industry concerns.

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Toilet Paper Costs More Than Oil

Bluefield Research — Fri, 19 Jun 2020 05:07:33 +0000

Is toilet paper more expensive than oil? Sure feels like it these days. This episode is all about water for energy, the oil patch, and the impacts of geopolitics, pandemics, and recession. Yikes! Get Bluefield analyst Nathan Goldstein’s take on the state of things.

Crisis Leads to Digital Acceleration

Bluefield Research — Fri, 19 Jun 2020 05:04:31 +0000

It’s all about digital water spending, forecasts, and implications of a recession. Bluefield's Digital Water Expert, Eric Bindler, will tackle the following key questions and more: -Is the shift to remote workforces and monitoring a catalyst for change -Does all this disruption change Bluefield's perspective? -What’s next? And Is there a silver lining somewhere in the value chain

Get Smart in Water

Bluefield Research — Fri, 19 Jun 2020 04:58:52 +0000

In this episode, it’s all about municipal water spending, market forecasts, and the implications of a recession. Podcast host Reese Tisdale speaks with Bluefield's Erin Bonney Casey about how to get smart in water and explores relevant questions about the potential impacts of Covid-19 on the market by addressing these questions and more:

Market Outlook: Will the market collapse in coming weeks, months, years? How does this coming recession compare to previous economic fluctuations?
Covid-19 Impacts: Who might be best insulated from the impacts of Covid-19? What has the Covid-19 pandemic shown us about the feasibility of remote work in the utility sector?
Future Trends: What’s next? And is there a silver lining somewhere in the value chain?

Future of Water (Trailer)

Bluefield Research — Fri, 19 Jun 2020 04:53:51 +0000

Introducing The Future of Water, Bluefield’s new podcast series, where we talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water. Have a listen!