5.3.14.2Vertical

Sewer & Collection Systems

Contractors constructing and rehabilitating sanitary sewer systems.

Market snapshot

These figures describe Water & Wastewater Construction (5.3.14), the segment that Sewer & Collection Systems sits within — not Sewer & Collection Systems on its own.

Market size
~$57B
Growth
~5.1%CAGR (2017–22, nominal)
Companies
~10,800
FragmentationFragmentedEstimate

U.S. Census Bureau 2022 CBP/Economic Census, NAICS 237110 (water & sewer line and related structures construction).

Business model & economics

Revenue model

Water/sewer infrastructure project contracts

Key economics

Recurring revenue
Low–Moderate

ongoing replacement programs

EBITDA margin
Equipment- and bonding-driven
Capex intensity
Moderate

Characteristics

  • Heavy-civil specialty for public water/sewer clients.
  • Aging infrastructure and regulation drive demand.
  • Federal water-infrastructure funding a tailwind.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Heavy-civil & water-infrastructure strategics
  • PE-backed infrastructure platforms
  • Regional contractor consolidators

What’s driving deals

  • Aging-infrastructure replacement programs.
  • Lead-pipe, PFAS, and overflow mandates.
  • Water-infrastructure funding.

Find Sewer & Collection Systems acquisition targets

Search Acquisera’s index for companies classified under Sewer & Collection Systems (5.3.14.2) and build a targeted deal pipeline.

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