Press release
Global Atmospheric Water Generator Market to be Driven by the Growing Demand for Safe and Clean Drinking Water in the Forecast Period of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 19%
The growing demand for clean and safe drinking water and the need for eco-friendly solutions providing drinking water in areas with water scarcity is expected to drive the market growth globally. The industry growth is expected to be driven by freshwater scarcity and increasing technological investments, followed by favourable government regulations. Frequent lockdowns across the globe during the COVID-19 pandemic resulted in an increased demand for drinking water in places like camps for migrant workers, isolated labs for COVID-19 testing, and areas with water supply disruption.
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The COVID-19 pandemic is anticipated to accelerate the demand for atmospheric water generators (AWGs) as countries are exploring independent, scalable, and resilient technology for water security. Furthermore, the growing number of smart city initiatives, particularly in developed countries, is likely to drive market expansion over the forecast period.
Industry Definition and Major Segments
Atmospheric water generators use the surrounding air to generate potable water. The device has the potential to boost water availability in times of scarcity, pollution, and other disruptions to drinking water supplies. Hurricanes, failure of public water infrastructure, pipe corrosion (resulting in contamination), and other natural disasters have sparked interest in atmospheric water generators as emergency and long-term supply solutions.
By product, the market is segmented into:
• Cooling Condensation
• Wet Desiccation
Based on application, the market is divided into:
• Industrial
• Commercial
• Residential
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Market Trends
Atmospheric water generators offer a renewable and environmentally friendly solution to water scarcity. Water present in the atmosphere is a renewable resource; condensation of water vapour is a natural occurrence, and by replicating that occurrence, atmospheric water generators provide water that is fit for drinking. Unlike systems that employ desalination, atmospheric water generators do not produce any waste.
Such factors are expected to boost the global atmospheric water generator market. The growing industrial activities in countries such as Germany, the United States, and China, coupled with the high-water output offered by the cooling condensation AWGs, are expected to positively impact the equipment demand over the forecast period. Rapid industrialisation, changing consumer lifestyles, and expanding infrastructural operations are expected to boost product demand over the forecast period.
Key Market Players
The major players in the market are Akvo Atmospheric Water Systems Pvt. Ltd., Dew Point Manufacturing, Saisons Trade & Industry Private Limited, WaterMaker India Pvt. Ltd., PlanetsWater, Water Technologies International, Inc. (WTII), and SkyWater Air Water Machines, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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