Water Security to Society Market: Current Analysis and Forecast (2022-2028)
Emphasis on Security Type (Domestic, Agricultural, Industrial, and Environmental); Application (Water Treatment & Filtration, Water Infrastructure Development, Water Conservation, Water Monitoring & Management, and Water Recycling & Reuse); and Region/Country
Global Water Security to Society Market was valued at USD 1000 million in 2021 & is expected to grow at a significant CAGR from 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. Factors such as 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.
Suez; Veolia; Xylem; Evoqua Water Technologies LLC; Grundfos; Ecolab; Aquatech International LLC; Aqua America, Inc; American Water; Tetra Tech, Inc are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst security type, environmental water security type is expected to grow with a significant CAGR during the forecast period”
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.
“Amongst process, water recycling & reuse process is expected to grow with a significant CAGR during the forecast period”
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.
“MENA is anticipated to grow at a substantial CAGR during the forecast period”
In 2021, 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.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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Table of Contents
Research Methodology for the Water Security to Society Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global water security to society market were the three major steps undertaken to create and analyze the adoption of water security to society in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global water security to society market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the water security to society market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the water security to society market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as security type and process. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the water security to society market. Further, we conducted factor analysis using dependent and independent variables such as various security type and process of water security to society. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the water security to society market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global water security to society market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the water security to society market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global water security to society market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global water security to society market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of security type and process in the global water security to society market.
The main objective of the Global Water security to society Market Study
The current & future market trends of the global water security to society market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the water security to society market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of security type and process .
- Define and analysis of the regulatory framework for the water security to society
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the water security to society market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, MENA, and the Rest of the World.
- Company profiles of the water security to society market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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