Water Security to Society Market: Current Analysis and Forecast (2022-2028)

Water security is essential to society because water is a basic necessity of life. Access to safe and reliable sources of water is critical for human health, hygiene, and sanitation. In addition, water is essential for agriculture, industry, energy production, and others. Communities and economies can suffer from reduced productivity, increased health risks, and environmental degradation without adequate water resources. The suffering can be the availability of a lot of water (flood) or no water (drought or water scarcity). Furthermore, According to WASH services (water, sanitation, and hygiene) is one component of achieving water security. Some organizations use the term water security more narrowly for water supply aspects only.

The Water Security to Society Market is expected to grow at a significant rate owing to the increasing world population as the demand for water for drinking, sanitation, and other purposes are gradually increasing. For instance, According to the World Bank, by 2021, about 2*billion people lack safely managed drinking water and 3.6 billion lack managed sanitation.

Based on security type, the market is segmented into domestic, agricultural, industrial, and environmental. The environmental water security type is expected to grow with a significant CAGR during the forecast period. This is mainly owing to ensuring water security for ecological and environmental purposes, such as maintaining healthy aquatic ecosystems, preserving biodiversity, and mitigating the impacts of climate change. Additionally, water security for the environment is critical for promoting sustainable development and maintaining the services provided by ecosystems.

Based on process, the water security to society market has been classified into water treatment & filtration, water infrastructure development, water conservation, water monitoring & management, and water recycling & reuse. The water recycling & reuse process is expected to grow with a significant CAGR during the forecast period. This is owing to the treatment and reuse of wastewater for irrigation, industrial purposes, or other non-potable uses. This process is essential for reducing the demand for freshwater resources and promoting the efficient use of water resources.

For a better understanding of the market adoption of the water security to society industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Middle East & North Africa (UAE, Saudi Arabia, Rest of the Middle East & North Africa), Rest of World. MENA is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rapid population growth, urbanization, and economic development that have led to increased demand for water resources, while climate change is expected to exacerbate water scarcity in the region. Moreover, countries in the region such as UAE, Saudi Arabia, and others are exploring a range of strategies to promote water security, such as investing in desalination, improving water use efficiency, and promoting regional cooperation on water management. In addition, Countries are already experiencing water stress, with limited access to safe and reliable water resources, particularly in rural areas. Efforts to promote water security in the region include investments in water infrastructure, water conservation and management, and improving access to water and sanitation services.

Some of the major players operating in the market include: Suez; Veolia; Xylem; Evoqua Water Technologies LLC; Grundfos; Ecolab; Aquatech International LLC; Aqua America, Inc; American Water; Tetra Tech, Inc.