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Marine Water Desalination Market Research Report 2024-2033 | Size, Growth, Demand, Trends
Marine Water Desalination Market
According to The Business Research Company's, The marine water desalination market size has grown rapidly in recent years. It will grow from $25.73 billion in 2023 to $30.10 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to the growing global population, rapid urbanization, and industrialization, increasing adoption of renewable energy sources, rising water scarcity in coastal regions, environmental regulations promoting the use of desalination as a sustainable water supply solution, adoption of renewable energy sources.
The marine water desalination market size is expected to see rapid growth in the next few years. It will grow to $52.80 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to increased demand for fresh water, increasing water demand in water-stressed regions, the integration of desalination plants with other water treatment processes, growing global population leading to increased demand for freshwater, increasing investments in desalination infrastructure by governments and private sectors. Major trends in the forecast period include technological advancements, advanced membrane technologies, rising focus on decentralized desalination systems, innovations in water storage and distribution infrastructure, new product innovation.
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Market Drivers and Trends:
The increasing demand for fresh water is expected to propel the growth of the marine water desalination market going forward. The fresh water requires sustainable water management practices, conservation efforts, and collaboration to ensure equitable access Marine water desalination helps address fresh water scarcity by converting seawater or brackish water into potable water through processes such as reverse osmosis or distillation, providing a reliable source of clean water for various uses. For instance, in September 2023, according to a report by the Parks and Recreation business, a US-based magazine, globally, annual freshwater usage exceeds 4 trillion cubic meters, and as of 2022, consumption has surpassed 2,002 trillion cubic meters. Water demand is projected to rise by 20 to 30 percent by 2050. Therefore, the increased demand for fresh water is driving the growth of the marine water desalination market.
Major companies operating in the marine water desalination market are developing innovative technologies, such as desalination systems to produce freshwater from seawater at a lower cost than tap water. Desalination is the process of removing salt and minerals from saline water, making it suitable for human consumption or irrigation. For instance, in September 2023, the engineers of the Massachusetts Institute of Technology (MIT) Corporation, a US-based private land-grant research university, launched a solar-powered desalination device, a completely passive solar-powered desalination system that uses multiple layers of flat solar evaporators and condensers lined up in a vertical array and topped with transparent aerogel insulation. This system avoids salt-clogging issues by using natural convection to drive the desalination process, which prevents salt accumulation and allows for high-performance and reliable operation, even under extreme conditions. These innovations in solar desalination technology have the potential to address water scarcity in developing countries and provide a more sustainable and cost-effective solution for producing freshwater.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Dow Chemicals, Veolia Environnement S.A, Mitsubishi Chemical Corporation, Toray Industries, SUEZ, Acciona S.A., DuPont Chemicals, Xylem, KSB Group, Zhuhai Jianghe Seawater Treatment Technology, AMI, Biwater Holdings Limited, GE Water And Process Technologies, Aquatech International LLC, Koch Membrane Systems, Hyflux Ltd., Hydranautics, IDE Technologies, Hatenboer Water, Kysearo SWRO Systems, Doosan Heavy Industries & Construction, Poseidon Water, Genesis Water Technologies, Zhuhai Wangyang Water Treatment Equipment, Dow Water & Process Solutions, Lenntech, Aqua FilSep Inc., Enwa Water Technology, Lifestream Water, Octo Marine
Marine Water Desalination Market 2024 Key Insights:
• The Marine Water Desalination Market is expected to grow to $52.80 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%.
• Role Of Marine Water Desalination In Addressing Global Freshwater Scarcity
• Innovative Solar-Powered Desalination Technologies Revolutionize Freshwater Production
• Middle East was the largest region in the marine water desalination market in 2023. The regions covered in the marine water desalination market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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