The global atmospheric water generators market size is expected to touch USD 6,214.9 million by 2027 on account of the rising demand for potable water and decline in the availability of freshwater. As per a recent report published by Fortune Business Insights. The value of this market was USD 1,940.8 million and will rise at a CAGR of 18.1% between 2020 and 2027.
The COVID-19 pandemic has left us all devastated. We are at a point of crisis where most businesses are shut temporarily, hampering the overall world economy. Some businesses are barely able to manage meagre revenue by working from homes. We however, soon hope to fight back this pandemic by following the government regulations and measures.
Advent of Smart Technology into Water Generators to Add Impetus
The rise in industrialization and urbanization have led machines to overpower natural habitat. A decline in freshwater sources has been observed so as to provide more space for new buildings and recreational spaces. The decline in the level of freshwater sources, coupled with the increasing industrialization and urbanization are the key factors promoting the atmospheric water generators market growth. Besides this, the stringent regulations imposed on environment and water safety will also aid in favor of the market.
However, the rise in carbon footprint and the high requirement for power generation to suffice to the needs of all residential, commercial, and industrial sectors may pose major challenges to the market in the coming years. Nevertheless, the advent of technological innovations such as smart technology, cooling condensation wet desiccation, and others are likely to help create lucrative growth opportunities to the market in the coming years.
Industrial Segment Gained Dominance Owing to High Demand for Water
The global market for atmospheric water generators is dominated by the industrial section based on segmentation by application with a 74.5% share earned in 2019. The growth of this section is attributed to the large quantity of water used in industries and manufacturing units. Large scale industries are now acquiring economical and sustainable water solutions such as atmospheric water generators to meet the increasing demand for water.
The Middle East and Africa Dominated Market Owing to Extreme Water Scarcity
The weather conditions in the Middle East and Africa is majorly responsible for scarcity of water. The aforementioned regions are heavily dependent on desalination plants and water bottles to suffice to their daily needs. The use of air to water systems in this region helps this region to produce more potable water more economically. Therefore, this region dominated the market in 2019 and are likely to continue doing so in the coming years as well.
Additionally, North America earned 217.8 million in 2019 and Asia Pacific is expected to rise at a CAGR of 21.1% in the forecast period accountable to the increasing water scarcity problems in South-east Asian Nations.
Companies Introducing New Products to Earn Lion’s Share
Some of the companies operating in this market are engaging in new product launches and are therefore investing heavily in latest technology. Other vendors are engaging in joint ventures and partnerships to collaboratively earn significant revenues, thereby making a significant remark in the market competition.
Significant Industry Developments of the Atmospheric Water Generators Market are:
December 2019 – GENAQ Technologies S.L. showcased their air generators in the largest building and construction event called “The Big 5” in the Middle East. It also promoted the S50 generator and provided brief information on air and water technologies.
Some of the Key Players of the Atmospheric Water Generators Market include:
- Water-Gen Ltd. (North Carolina, USA)
- Akvosphere (West Bengal, India)
- Drinkable Air Technologies (Florida, USA)
- Eshara Water (Abu Dhabi, UAE)
- Water Technologies International, Inc. (Florida, USA)
- Clean Wave Products (USA)
- Atmospheric Water Generator, LLC (Florida, USA)
- GENAQ Technologies S.L. (Lucena, Spain)
- Zhongling Xinquan (Fujian) Air Drinking Water Technology Co., Ltd. (Fujian Province, China)
- Atlantis Solar (New York, USA)
- Island Sky Corporation (Florida, USA)
- WaterMaker India Pvt. Ltd. (Maharashtra, India)
- Dew Point Manufacturing (British Columbia, Canada)
- PlanetsWater Ltd. (London, U.K.)
- Eurosport Active World Corporation (Florida, USA)