U.S. Water Utility Ownership & Strategies: Key Trends, M&A Activity, and Market Outlook, Q4 2025

21 Nov 2025
Available with corporate subscription

This quarterly review highlights key trends, transactions, and competitive shifts in the U.S. private water market. Bluefield’s team of water experts tracks mergers and acquisitions, service contract awards, and federal, state, and local policy developments on an ongoing basis to provide the most reliable and up-to-date insights for clients addressing opportunities in water.

Sample Takeaways:

  • Deal activity jumps up in the third quarter of 2025
  • American Water, Essential Utilities announce merger agreement
  • States advance pro-utility rate reforms
  • Fair market value (FMV) continues to polarize
  • IOUs look beyond the rate base

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