Global Atmospheric Water Generator (AWG) Market is projected to touch $8.4 billion mark by end of 2024, registering a CAGR of 30% during the period of 2016-2024. Diminishing fresh water accessibility and decreasing water resources along with increasing demand of fresh water for drinking and industrial purpose is predicted to drive industry growth in future.
Per capita water accessibility has fallen substantially during last few years. Growing temperatures and scarce rainfall has resulted in drying of lakes and river fronts causing shortage of water. Further, rising industrialization and infrastructural growth specifically in emerging economies has given rise to water scarcity. All these factors are predicted to drive the industry growth.
Introduction of policies like DWQS (Drinking Water Quality Section) in Japan, Safe Drinking Water Act in U.S., National Rural Drinking Water Program in India, Drinking Water Directive in countries of European Union and various other initiatives taken by respective governments are projected to propel industry growth by ensuring safe accessibility of potable water for its population.
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As per WHO (World Health Organisation) report, more than half of the world population is affected by water-borne ailments. Due to this, water produced through atmospheric water generator systems is an effective substitute offering pollutant-free water by condensing filtered air through different filtration processes.
However, high requirement of power supply for AWG systems like condenser, dehumidifier and evaporator makes it an impractical choice for few regions with high electric charges. Carbon and other green house emissions released by coal or other compounds poses a threat to atmosphere. But investments in research & development activities to produce low priced and clean technology is predicted to generate new growth opportunities for atmospheric water generator(AWG) market.
The industry is segmented into various products like wet desiccation machines and cooling condensation machines. Wet desiccation machines market is predicted to register more than 32% CAGR during forecast timeframe. Technological breakthrough associated with replacement of brine salt with liquid brine to enhance humidity separation from air is predicted to raise the demand for these machines in future.
Cooling condensation machines segment dominated the product segment by producing total revenue of more than $800 million for 2015. Higher output along with widespread accessibility of these machines contributed to the growth of the segment. Technological innovation associated with reduction in power consumption is predicted to drive the growth of the segment.
The atmospheric water generator (AWG) market is segmented into applications like industrial applications and residential applications. Industrial applications segment contributed to greater than 25% of overall demand and is predicted to register more than 25% of CAGR during forecast timeframe. They are mainly used in industries that require water production of more than 20,000 gallons per day. Oil & gas firms of middle east regions are using desalinated water from seas. This method has proved cost efficient in comparison to other oil exploring events taking place near sea shore.
Residential atmospheric water generator industry experienced biggest system deployment with total amount of consolidated deployments valued over USD 13 million in 2015. Growing customer consciousness about the technology benefits from these systems are predicted to drive the industry growth in these residential applications.
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APAC dominated the global atmospheric water generator industry for 2015 with India and China playing a key role in the regional industry growth. Growing commercial & residential expenditure in regions like Indonesia, China and India is predicted to promote the regional demand. Factors like presence of large number of component producers, less production costs and low labor charges are predicted to fuel the industry expansion.
MEA (Middle East & Africa) atmospheric water generator market share will rise significantly over the forecast timeframe. Deficit of fresh water reserves along with high costs involved in deploying desalination plants is predicted to drive the regional demand. Saudi Arabia market is estimated to grow at a CAGR of 30% over the period of 2016-2024.
Key industry players profiled in the report include Ambient Water, Konia, Watair Incorporation, Planets Water, Eurosport Active World Corporation Technologies, Saisons Technocom Private Limited, Water-Gen Limited, Water Technologies International Incorporation, Island Sky Corporation, Atlantis Solar, WaterMaker India Private Limited, Water-Gen Limited, Fujian Yuxin Electronic Company Limited, Air2Water LLC, Dew point manufacturing and Ecoloblue Incorporation.
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