|Frost & Sullivan Identifies Innovative Business Models to Capitalise on the Emerging Transformation of the African Water Market|
|Growing environmental awareness and water stress drives industries to adopt sustainable and energy-efficient solutions, notes Frost & Sullivan’s Environment and Industrial Team|
The global industrial water market is expected to grow at a staggeringly high rate of 7.6% in 2018. Sustainability and water security will take the spotlight, as the world aligns towards protection of vulnerable waters and minimises impact of water-related hazards. In the event that status quo is maintained, two-thirds of the world’s population could be living in water stressed conditions by 2025!
In this context, Africa will be one of the most prominent stakeholders for the emerging water industry, considering that the continent has the largest number of water-scarce countries in the world. A majority of the continent relies on rainfall and surface water for water supply, which is not going to be sustainable any longer. Many of the existing fresh water sources have been polluted to the extent that access to clean water stands at around 50% only. Water scarcity is a rapidly growing problem for Africa, compounded by an abysmally low turnaround potential, seeing how water infrastructure related projects account for only 1.3% of the total infrastructure investment.