The global atmospheric water generator market size is expected to reach USD 4.50 billion by 2030 according to a new study by Polaris Market Research. The report “Atmospheric Water Generator Market Share, Size, Trends, Industry Analysis Report, By Type (Cooling condensation, Wet Desiccation); By Application (Industrial, Commercial, Residential), By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Key factors responsible for the industry growth include climate change, water shortage, rising demand for freshwater, rapid industrialization, population growth, and favorable government initiatives. Global water demand for all purposes is anticipated to increase by approximately 30% worldwide. To cope with growing demand, governments of several countries improve their water infrastructure by adopting technologies like atmospheric water generators.
Last year the U.S. government granted USD 55 Bn for the water infrastructure and development projects. Moreover, the rapid growth of several sectors requiring more than 1,000 liters of water per day is estimated to impact the industry positively. Many end-use industries such as chemical, fashion, food, and beverage are growing rapidly in Asia Pacific and other developing regions.
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High initial investment and power limit the use of AWGs in several residential applications. Furthermore, the complicated mechanism associated with wet desiccation AWGs and a lack of consumer awareness about wet desiccation technology are anticipated to negatively impact the industry's growth. Also, the presence of alternative and widely adopted technology known as desalination is expected to have a negative impact on the development of the global industry.
Asia Pacific is estimated to capture the highest industry share due to the water crisis, population boom, and rapid growth of the industrial sector. The Middle East and Africa region is anticipated to grow at a high CAGR owing to the increasing adoption of AWGs in UAE and Gulf countries.
Market participants such as Akvo Atmospheric Water Systems Pvt. Ltd., Air2Water LLC, Atlantis Solar, Drinkable Air, SkyWater Air Water Machines, Dew Point Manufacturing, EcoloBlue, Inc., Eshara Water, GENAQ Technologies S.L., Hendrix Water, Energy and Water Development Corp, PlanetsWater, Ray Agua, and Water Technologies International, Inc. are some of the key players operating in the global industry.
In February 2022, World Environmental Solutions Pty Ltd and Net Zero Renewable Energy Inc. signed an agreement to develop the Sola Hydra Cube design for household and commercial AWGs. The strategic partnership will help both the companies to acquire a competitive edge in the worldwide industry by producing clean drinking water using renewable energy. Moreover, in March 2022, the Central Railway of India announced installing water generators at 14 locations across its Mumbai Division's eight stations, including Sion Kurla, Kalyan, Thane, CSMT, Dader, and others, under a non-fair revenue scheme.
Polaris market research has segmented the atmospheric water generator market report on the basis of type, application, and region:
Atmospheric Water Generator, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Atmospheric Water Generator, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Atmospheric Water Generator, Regional Outlook (Revenue - USD Billion, 2018 - 2030)