Global Atmospheric Water Generator Market Overview
The key drivers impacting the atmospheric water generator market are the declining freshwater reserves due to climate changes and inadequate rainfalls. For instance, as per the future Directions International report estimations, The global availability of freshwater is continually volatile. The United Nations estimations show that by 2050, five billion people would suffer from water shortages. The worldwide availability of freshwater is majorly affected by diverse stressors: population growth, climate change, and human-induced activities. Moreover, the growing awareness towards safe drinking water among consumers contributes to atmospheric water generator market demand in the later years.
According to Value Market Research, the global atmospheric water generator market size was valued at about USD 3.29 billion in 2022 and is estimated to grow at a CAGR of around 10% during the forecast period 2023 to 2030.
The rising research & development activities in AWG technology could enable manufacturers to create AWG units with more efficiency and low environmental impact, which will likely augment the need for atmospheric water generators in the forecast period. However, the high equipment costs hamper the market in the long run. In addition, the high operating expenses impede the market growth. Nevertheless, the market trends, such as rising investments and upcoming product improvement, might provide considerable opportunities to the market's leading players.
The atmospheric water generator market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to raise their market share globally. The key players in the report are Akvo Atmospheric Water Systems Pvt. Ltd., Dew Point Manufacturing, Ray Agua, PlanetsWater, Water Technologies International Inc., SkyWater Air Water Machines, Hendrx Water, Atlantis Solar, EcoloBlue Inc., Air 2 Water Solutions.
In this research report, the atmospheric water generator market is segmented by product, application, and region.
Analysis by Product:
By product, the report is segmented into cooling condensation and wet desiccation. The cooling condensation segment dominates with the highest market share of 97% in the forecast period. It is because cooling condensation is the most extensively utilized technique due to large-scale installations in various industries and residential and commercial buildings. Moreover, technological advancement and rising demand for cooling condensation atmospheric water generators in water deficit areas contribute to the growth of the cooling condensation segment in the forecast period.
Analysis by Application:
By Application, the report is divided into industrial, commercial, and residential. The industrial segment dominates the application segment with the highest market share of 77% in 2020. It is due to the Industrial atmospheric water generators are primarily employed in buildings and industries requiring water output of more than 5,000 gallons per day. Moreover, it is primarily used in water vending machines, bottling facilities for beverages, government or military facilities for water security, food processing facilities and industrial and commercial facilities with serious water wants to contribute to the increased market demand from the industrial segment.
Analysis by Region:
In the regional outlook of the global atmospheric water generator market, the Asia Pacific region dominates with the largest market share of 36% in 2020. It is due to the growing number of atmospheric water generator installations in the region due to the depleting freshwater resources and high water scarcity. Moreover, the rising industrialization and urbanization with growing infrastructure activities in the region contribute to the tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Product
- Cooling Condensation
- Wet Desiccation
By Application
- Industrial
- Commercial
- Residential
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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