The U.S. water and wastewater utility landscape is heavily fragmented across 48,587 community water systems serving 313 million people and 23,481 wastewater treatment facilities serving an estimated 267 million people. But within this landscape, an evolving roster of investor-owned utilities (IOUs) is reshaping the market by carving out regional and national positions—regulated and non-regulated—through M&A and organic growth.
As city managers and utility leaders confront growing concerns over workforce constraints, regulatory issues (e.g., PFAS), and mounting capital investment needs, IOUs present an alternative approach to critical water and sewer infrastructure management.
This Market Share report examines the state of private participation in the regulated water and wastewater utility sector, profiling and breaking down market share among the 20 leading IOUs, plus key drivers and trends to watch going forward.
Table of Contents
Section 1 – IOU Market Overview
- U.S. Water and Wastewater Utility Landscape
- Consolidation Drivers
- Top States for IOU M&A
- Timeline of Key Events
- Leaders in Connections Added
- Competitive Landscape
- Capital Expenditures
- Operating Expenses
Section 2 – Market Share and Company Profiles
- Top IOUs by Total Connections
- Leading IOUs by State
- IOU Ranking and Market Share
- American States Water Company
- American Water Works Company
- Arizona Water Company
- Artesian Water Company
- California Water Service Group
- Central States Water Resources
- EPCOR
- Essential Utilities (Aqua)
- Eversource Energy (Aquarion)
- Global Water Resources
- Liberty Utilities
- Middlesex Water
- Nexus Water Group
- NW Natural
- Pennichuck Water Works
- San Gabriel Valley Water Company
- SJW Group
- Utility Holdings, Inc.
- Veolia North America
- York Water
