According to Fortune Business Insights, the global atmospheric water generator market size stood at USD 1,940.8 million in 2019. The market is anticipated to touch USD 6,214.9 million by 2027 at an 18.1% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Atmospheric Water Generator Market, 2020-2027.”
According to the analysis, soaring demand for potable water will propel the demand for atmospheric water generators (AWG) across emerging and advanced economies. AWG has come up as a budget-friendly alternative to bottled water. The adoption of advanced electronic devices and the internet of things (IoT) will act as a significant growth enabler over the next few years.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/atmospheric-water-generator-market-103321
Report Coverage
The report offers a comprehensive perspective of the market size, share, revenue and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings and the prevailing business scenarios. The report also includes secondary resources, such as annual reports, press releases, white papers and journals. The research report also delves into pre-and post-COVID analysis to provide a holistic market view.
Segmentations
Cooling Condensation to Remain Dominant Due to Easy Installation
With respect to the product type, the market is segregated into desiccant based and cooling condensation. Stakeholders anticipate the cooling condensation segment to account for a considerable share of the global market due to easy installation and economic attributes. Cooling condensation technology will continue to gain popularity across household, commercial and industrial sectors.
Industrial Sector to Grow with Rising Adoption of Sustainable Water Solutions
In terms of application, the market is segmented into household, industrial and commercial. The industrial segment will witness appreciable growth due to the rising footprint of sustainable water solutions to keep up with the demand.
Drivers and Restraints
Escalating Scarcity of Water to Boost Industry Growth
Burgeoning industrialization and soaring population have propelled atmospheric water generator market share. With the high water consumption, leading organizations could expand their penetration globally. The United Nations World Water Development Report 2019 asserted that water consumption could surge by 20 to 30% compared to current water use. Lately, air to water technology has gained prominence as a source of clean water. The World Health Organization claims that more than half of the world population will reside in water-stressed areas by 2050. Amidst the rising scarcity of water and growing water demand, industry players will continue to invest in the portfolio. However, the relentless need for electricity and high production costs could dent the industry growth.
Regional Insights
Asia Pacific to Gain Ground from Increasing Need for Producing Water
Asia Pacific market forecast will be strong on the back of the growing need for AWG to produce water. Emerging economies could be the primary recipients of atmospheric water generators amidst surging water scarcity. Asia Pacific could exhibit a 21.1% CAGR from 2020 to 2027 due to bullish demand from China and Southeast Asian countries.
The Middle East & Africa atmospheric water generator market growth will witness a notable gain due to the prevalence of hot weather conditions. The region has been majorly dependent on desalination plants and water bottles. Industry players have upped investments in the air to water systems to provide a budget-friendly approach to producing potable water. Moreover, GCC could be a major contributor to the global market share.
Competitive Landscape
Stakeholders Invest in Strategic Approaches to Tap into Markets
Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements and R&D activities. Besides, significant companies could invest in innovations and product offerings in the ensuing period.
Notable Industry Developments
- December 2019 – GENAQ Technologies announced bringing its water from air generators to the Big Five.
- February 2019 – Bharat Electronics Limited (BEL) rolled out its new atmospheric water generator with both static and mobile versions.
Major Players Profiled in the Market Report:
- Water-Gen Ltd. (U.S)
- Drinkable Air Technologies (U.S.)
- Island Sky Corporation (U.S.)
- Eurosport Active World Corporation (U.S.)
- Eshara Water (UAE)
- GENAQ Technologies S.L. (Spain)
- WaterMaker India Pvt. Ltd. (India)
- Atmospheric Water Generator, LLC (U.S.)
- Clean Wave Products (U.S.)
