Press release
Soaring Demand Set to Propel Solar Water Desalination Plant Market to $3.98 Billion by 2029
Solar Water Desalination Plant Market
What Is the Expected CAGR for the Solar Water Desalination Plant Market Through 2025?
In recent times, there has been substantial growth in the market size of the solar water desalination plant. It is set to expand from $2.85 billion in 2024 to $3.05 billion in 2025 with a consistent compound annual growth rate (CAGR) of 7.1%. This growth experienced in the historic period is the result of factors like the rising Agriculture Industry, impending global water shortage and the need for freshwater resources, increasing population and urbanization causing a surge in water consumption, critical need for freshwater worldwide, and an escalation in the use of solar energy.
What's the Projected Size of the Global Solar Water Desalination Plant Market by 2029?
In the coming years, the size of the solar water desalination plant market is predicted to experience significant expansion. It's projected to reach a value of $3.98 billion by 2029, with a compound annual growth rate (CAGR) of 6.9%. This growth during the forecasted period can be linked to the increase in water scarcity and the demand for freshwater, heightened awareness about environmental sustainability, and the necessity to lessen greenhouse gas emissions. Other contributing factors include fluctuations in energy sources, increasing environmental pollution, and the rising adoption of green energy. Trends to watch within this forecasted period include the progression of technology, enhancements in solar technology, increased usage of smart technologies within solar water heaters, integration of solar desalination with energy storage solutions to ensure continuous operation, and ongoing research and development aimed at improving the efficiency and scalability of solar desalination.
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Top Growth Drivers in the Solar Water Desalination Plant Industry: What's Accelerating the Market?
The burgeoning shortage of water and the increasing necessity for freshwater are projected to accelerate the expansion of the solar water desalination plant market. This scarcity of water and the rising requirement for freshwater are being heightened by factors such as population upsurge, urban sprawl, climate alteration, the pollution of water resources, inefficient usage of water, economic progression and inadequate infrastructure facilities. Solar water desalination plants offer a solution to this growing water insecurity by harnessing sustainable solar power to transform seawater into potable water, offering a dependable water source in regions with restricted freshwater availability. For example, data from the United Nations, a US-based intergovernmental body, as of March 2023, reveals that around 1 billion city inhabitants globally are grappling with water scarcity. This figure is predicted to escalate to approximately 1.7 billion to 2.4 billion in the coming 30 years, or by 2050. As a result, the increasing water scarcity and the surging demand for freshwater are fuelling the growth of the solar water desalination plant market.
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What Trends Will Shape the Solar Water Desalination Plant Market Through 2029 and Beyond?
Leading corporations in the solar water desalination plant industry are focusing on the creation of advanced technology and systems. These innovations, which have a high water-production capacity and high salt-rejection levels, are aimed at increasing their market earnings. The ability to produce vast amounts of water is a measure of productivity and efficiency, while elevated salt-rejection rates suggest that the purified water contains fewer residual salts. In September 2023, a breakthrough in the field came from the Massachusetts Institute of Technology (MIT) Corporation, a leading research university based in the US. They introduced a solar-powered desalination device; a wholly solar-powered system that uses several layers of flat solar evaporators and condensers. Arranged vertically and capped with clear aerogel insulation, this device uses natural convection to facilitate the desalination process, preventing salt build-up, and ensuring high-performance and dependability under tough conditions. With the ability to aid the water shortages in developing nations, these advances in solar desalination technology offer a more sustainable and cost-effective manner of generating freshwater.
What Are the Main Segments in the Solar Water Desalination Plant Market?
The solar water desalination plant market covered in this report is segmented -
1) By Membrane Process: Solar-powered Reverse Osmosis, Nano Filtration, Electro-dialysis and Electro-dialysis Reversal, Membrane Distillation, Other Membrane Processes
2) By Desalination Method: Solar-powered Humidification-Dehumidification (HDH), Solar Diffusion Driven, Concentrated Solar Power (CSP)-Based, Solar Pond
3) By Plant Capacity: Small (Below 1 MLD), Medium (1 MLD - 10 MLD), Large (Above 10 MLD)
4) By End-use Industry: Industrial, Agriculture, Residential, Commercial, Municipal
Subsegments:
1) By Solar-powered Reverse Osmosis: Small-scale Reverse Osmosis Systems, Large-scale Reverse Osmosis Systems
2) By Nano Filtration: Solar-powered Nano Filtration Systems for Brackish Water, Solar-powered Nano Filtration Systems for Seawater
3) By Electro-dialysis and Electro-dialysis Reversal: Solar-powered Electro-dialysis Systems, Electro-dialysis Reversal Systems for Desalination
4) By Membrane Distillation: Direct Contact Membrane Distillation (DCMD), Air Gap Membrane Distillation (AGMD)
5) By Other Membrane Processes: Forward Osmosis (FO), Pressure-retarded Osmosis (PRO), Capacitive Deionization (CDI)
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Which Top Companies are Driving Growth in the Solar Water Desalination Plant Market?
Major companies operating in the solar water desalination plant market are TotalEnergies SE, Tesla Inc., Toray Industries Inc., Acciona S.A., Suez SA, Andritz AG, OMya International AG, Abengoa S.A., Waaree Energies Ltd., Photon Energy Systems Limited, Hyflux Ltd., AMP Energy, IDE Technologies, Sterlitech Corporation, Avista tech, LG Water Solutions, Solar Spring GmbH, Trunz Water Systems AG, Sinovoltaics Group, Technol Protoroz d o o, Vontron Membrane Technology, Aquatech International LLC, Desolenator Labs, Elemental Water Makers B.V., F Cubed Limited, Solar Water Solutions Ltd., Solaropia
Which Regions Will Dominate the Solar Water Desalination Plant Market Through 2029?
Asia-Pacific was the largest region in the solar water desalination plant market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the solar water desalination plant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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