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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Related Research & Analysis:
- U.S. Water & Wastewater Treatment Infrastructure CAPEX Forecasts, 2025–2035
- U.S. Water & Wastewater Treatment Infrastructure CAPEX Data
The Future of Water
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