Atmospheric Water Generator Market Dynamic Business Environment during 2021 - 2031
The global atmospheric water generator market is prognosticated to attract growth at a CAGR of 18.1% during the forecast period, between 2020 and 2027. Thus, the market is expected to be valued at US$ 6,214.9 Mn by 2027. The market was valued at US$ 1,940.8 Mn in 2019. The growth of the global atmospheric water generator market is ascribed to several factors including a rise in the scarcity of water around the world.
Increase in socio-economic development, rise in the industrialization, and surge in population globally are prognosticated to boost the growth of the global atmospheric water generator market during the forecast period.
The global atmospheric water generator market is estimated to expand on the back of rising need for water across the globe. Atmospheric water generator solutions are increasingly utilized in recent years owing to their capability to provide drinkable water. These generators can extract water from humid air as well as water vapor.
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The demand for atmospheric water generators is growing in many nations that are facing a high level of water shortage. Furthermore, these solutions are gaining traction owing to their ability to offer high-quality and cost-effective alternative to bottled water. This factor is creating lucrative prospects in the atmospheric water generator market.
Enterprises in the atmospheric water generator market are developing easy-to-operate devices. In addition, many atmospheric water generator producers are focused on the development of products that incorporate advanced technologies including Internet of Things (IoT). These innovations are leading to prodigious growth opportunities in the global atmospheric water generator market.
Due to rising focus of companies operating in the global atmospheric water generator market to advance the quality of their products, they are allotting major part of their investments in R&D projects.
Furthermore, many players in the atmospheric water generator market are launching technologically advanced products. Such initiatives are expected to help in the rapid expansion of the global atmospheric water generator market in the years ahead.
The concept of atmospheric water generator solutions is being increasingly adopted owing to their ability to offer drinkable water by performing water extraction from humid air and water vapor. The popularity of atmospheric water generator solutions is prognosticated to be increasing in the regions with high scarcity of water. Moreover, atmospheric water generator can provide cost-effective and high-quality alternative to bottled water. This factor is generating promising business prospects in the global atmospheric water generator market.
Companies operating in the global atmospheric water generator market are increasing efforts to improve their product quality. Hence, they are seen increasingly investing in R&D projects. Moreover, several companies are launching innovative products. These efforts are driving the expansion of the global atmospheric water generator market.
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Many players operating in the atmospheric water generator market are increasing focus on making their devices easy to use. Furthermore, atmospheric water generator manufacturers are incorporating varied advanced technologies such as Internet of Things into their products. Such innovations are anticipated to play a key role in the overall growth of the global atmospheric water generator market in the forecast period.
Surge in the industrialization, increase in population, and rising socio-economic development around the world are some of the important factors prognosticated to drive the business opportunities in the global atmospheric water generator market in the forecast period.
Atmospheric water generators are witnessing a heightened demand from the oil and gas industry, paper, and steel industries. Technological advancements and innovations by market players are expected to have a positive impact on the development of this industry. Players in the market have developed technologies that result in higher water output and this is having a positive effect on the growth of the market and encouraging more industries to opt for these generators. Players in the market are pricing their products on the basis of application, efficiency of the generators, and quality. Thus, atmospheric water generators of varying prices can be found in the market and end users have a variety to choose from, as per their budget.
One of the biggest factors deterring end users from installing atmospheric water generators is the amount of electricity consumed. The high energy consumption leads to an increased cost of operation and this is a major hurdle, deterring the growth of the global atmospheric water generator market. Players are therefore expected to invest in research and development and come up with solutions that are energy efficient. In the future, the use of solar panels and on-board power supply will open various growth opportunities for market players. Another factor posing a threat to the growth of this market is the large number of suppliers in the supply chain. This is leading to unwanted hold ups during the manufacturing process. High cost of atmospheric water generators and their high energy consumption will especially prevent the residential users to install these products
Global Atmospheric Water Generator Market: Overview
Atmospheric water generators are devices that extract water from humid ambient air, so as to condense the water vapor present in the air. These devices aim at rendering the water thus obtained potable. Cooling condensation and wet desiccation are the two techniques primarily used by these systems.
The report furnishes key information about the recent developments, growth drivers, opportunities, and challenges in the global atmospheric water generator market, together with relevant statistical data, figures, and charts. In order to gauge the degree of competition between the major players, the report leverages Porter's Five Force analysis. The market shares held by the prominent companies and their key business strategies have also been revealed in the report. The report also discusses value chain analysis, market attractiveness, supply and demand dynamics, and the leading segments of the global atmospheric water generator market in detail.
Global Atmospheric Water Generator Market: Drivers and Restraints
As the problem of water scarcity envelopes the world, the importance of fresh, drinkable water is being increasingly recognized. A host of undesirable human activities have been responsible for the changing global climate, which is one of the major factors affecting the quality and quantity of water. Therefore, several government institutions worldwide have been investing in the deployment of atmospheric water generators. This is one of the key growth drivers of the market.
A large number of government bodies, banks, educational organizations and several municipal corporations have been deploying these systems. Armed forces of several nations such as India, Mexico, and the U.S. have been displaying great demand for these systems as atmospheric water generators produce pure water and can also be easily transported from one place to another. All the aforementioned factors have stoked the demand for atmospheric water generators, boosting the market growth.
On the other hand, the market might experience delayed expansion owing to the exorbitant costs of these systems and their high energy consumption. Also, the presence of the existing water desalination techniques might restrict the growth of this market. However, several beneficial government policies, along with extensive R&D activities aimed at upgrading these technologies will help the market to overcome these barriers.
The market will also receive significant encouragement from the wet desiccation segment, which has been witnessing increasing demand in both residential and commercial sectors. The wet desiccation segment is projected to make headway on account of its high productivity and relatively lower energy consumption. However, the cooling condensation segment might claim the majority of market shares over the coming period.
Global Atmospheric Water Generator Market: Regional Outlook
Based on geography, the global market for atmospheric water generators has been segmented into Asia Pacific, Europe, North America, the Middle East and Africa, and the Rest of the World.
A major share of the demand witnessed in Asia Pacific will be exhibited by countries such as India and China due to the presence of dynamic industrial sectors, robust urbanization, and increasing awareness about the significance of these devices. Apart from Asia Pacific, the Middle East and Africa (MEA) is also expected to represent a major share among the regional segments because of the acute water shortage faced by in the region.
Companies Mentioned in the Report
Some of the major companies transacting in the global market for atmospheric water generator are Dew Point Manufacturing, WaterMicronWorld, Ambient Water, WaterMaker India Pvt. Ltd., Fujian Yuxin Electronic Co., Air2Water LLC, and Island Sky Corporation.
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