The U.S. & Canada municipal water & wastewater sector has undergone significant turbulence in recent years, with supply chain disruptions, high inflation, and a looming recession coming on the heels of the COVID-19 pandemic. In parallel, unprecedented financial support for the sector is expected in the form of the U.S. Infrastructure Investment and Jobs Act and Canada’s Investing in Canada Plan, accelerating utility capital investment and operations and maintenance (O&M) spend.
This report lays out Bluefield’s 2022–2030 forecast for capital expenditure (CAPEX) and operating expenditure (OPEX) for water & wastewater utilities across the U.S. & Canada. CAPEX forecasts include 15 key segments ranging from linear assets (e.g., distribution and collection network infrastructure) to vertical assets (e.g., plants and pump stations). OPEX forecasts include 12 major budget categories such as labor, energy, chemicals, and plant/system maintenance.
Table of Contents
Section 1: Market Drivers & Trends
- Key Water Market Drivers & Pain Points
- Federal Funding Propels Infrastructure Improvements
- Supply Disruptions Result in High Material Costs
- Labor Shortages Restrict Market Activity
- Housing Starts Signal Market Boom and Bust
- Demographic Shifts Place Strain on Water Utilities and Infrastructure
Section 2: Forecast Methodology
- Methodology Overview
- CAPEX & OPEX Forecast Dynamics
- Defining Accelerated Growth Scenario
- Defining Recessionary Conditions Scenario
Section 3: Forecast Breakdown
- Forecast Scenario Analysis: CAPEX vs. OPEX
- Market Snapshot: Total Expenditures
- CAPEX Breakdown by Budget Category
- OPEX Breakdown by Budget Category
- CAPEX Breakdown by Geography
- OPEX Breakdown by Geography
- Top Opportunities by Geography, Measured by Total Expenditure
- Looking Forward: Trends to Watch
List of Exhibits
- IIJA Funding by Industry
- Water Infrastructure Share
- Producer Price Indices for Key Water Infrastructure Inputs, Sept 2020–Sept 2022
- U.S. Water & Sewer Employment, January 2005–September 2022
- U.S. Housing Starts by Region, January 2019–September 2022
- U.S. Rural Population Change by State, 2010–2020
- U.S. Urban Population Change by State, 2010–2020
- Recent & Historical Price Growth for Select CAPEX / OPEX Inputs
- U.S. CAPEX Recession Scenarios
- U.S. OPEX Recession Scenarios
- CAPEX Scenarios, 2022–2030
- OPEX Scenarios, 2022–2030
- Total Expenditure Forecast, 2022–2030
- Cumulative U.S. & Canada CAPEX By Asset Type, 2022–2030
- Cumulative U.S. & Canada OPEX By Budget Category 2022–2030
- Cumulative U.S. & Canada CAPEX By State / Province, 2022–2030
- Cumulative U.S. & Canada OPEX By State / Province, 2022–2030
- Market Variables & Growth Impacts
