Strategies to promote water security for improving water use efficiency and promoting regional cooperation on the water have propelled the growth of the Water Security to Society Market in the MENA Region!
- Vikas Kumar
- July 22, 2023
- ENERGY & POWER, NEWS
- Water Security to Society Market
- 0 Comments
Increasing water scarcity is threatening the food and water supply, with 70% of global water withdrawal used for agriculture. The Food and Agriculture Organization (FAO) estimates that to achieve global food & water security by 2050, the current food & water supply must increase by 50%. That goal relies entirely on securing a sustainable water supply. Water scarcity is expected to cause economic losses of 6-14% of the MENA region’s gross domestic product (GDP) by 2050. This is mainly owing to rapid population growth, urbanization, and economic development led to increased demand for water resources, while climate change is expected to intensify water scarcity in the region.
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Increased water scarcity could also reduce labor demand by up to 12% and lead to significant land-use changes. Socio-economic grievances in combination with a drought or a water shortage can drive domestic water tensions, especially in the absence of strong institutions. In addition, countries such as UAE, Saudi Arabia, and others are already experiencing water stress, with limited access to safe and reliable water resources, particularly in rural areas. To overcome that 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. Moreover, countries had started 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. Additionally, Recycling water is key to closing the water supply-demand gap in the Middle East and North Africa.
Further, the MENA Water Security to Society Market is expected to grow at a significant CAGR during the forecast period (2022-2028). MENA is anticipated to emerge as the fastest-growing water security to society market primarily owing to the spur in demand for water in the region. Meanwhile, Saudi Water Partnership Company (SWPC) has prequalified 8 bidders for its Rabigh 4 Independent Water Plant (IWP) project. This is a highly ambitious 600,000m3 per day desalination project that will commence operations in late 2025.
FIG. 1 MENA Water Security to Society Market Revenue (2020-2028)- USD Mn
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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.
Global Water security to society Market Segmentation
Market Insight, by Security Type
· Domestic
· Agricultural
· Industrial
· Environmental
Market Insights, by Process
· Water Treatment & Filtration
· Water Infrastructure Development
· Water Conservation
· Water Monitoring & Management
· Water Recycling & Reuse
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
· Middle East & North Africa
o UAE
o Saudi Arabia
o Rest of the Middle East & North Africa
· Rest of the World
Top Company Profiles
· Suez
· Veolia
· Xylem
· Evoqua Water Technologies LLC
· Grundfos
· Ecolab
· Aquatech International LLC
· Aqua America, Inc
· American Water
· Tetra Tech, Inc
