Atmospheric Water Generator Market Propelled by Growing Need for...

Atmospheric Water Generator Market Propelled by Growing Need for Fresh Water Resources

Posted 2024-01-04 11:54:26

Atmospheric water generators are equipment that extracts fresh water from humid ambient air. These generators help produce fresh and clean water suitable for drinking purposes without any contamination. With growing scarcity of fresh water resources and increasing global warming, atmospheric water generators are gaining widespread acceptance across both commercial and residential sectors.

The global Atmospheric Water Generator Market is estimated to be valued at US$ 4.06 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing need for fresh water resources is propelling the atmospheric water generator market. Fresh water resources are depleting at an alarming rate due to factors such as increasing global warming, rapid industrialization, urbanization, population growth, and contamination of water bodies. According to a report by United Nations, over 50% of the global population will be facing water scarcity by 2025. Atmospheric water generators provide a sustainable solution to tackle water scarcity by extracting fresh water from humid air. This is driving the adoption of these generators across various sectors.

SWOT Analysis
Strength: Atmospheric water generators are a sustainable solution for areas facing water scarcity issues. They provide an independent source of water without requiring distribution systems.
Weakness: The energy requirements and costs to operate atmospheric water generators are high. The output water quantity is relatively low ranging from 50L to 3000L per day.
Opportunity: Growth in applications such as commercial, residential and military provide new areas of adoption. Increasing climate change impacts will drive more regions and countries to consider this technology.
Threats: Alternative desalination and water purification technologies may evolve to become more energy efficient and affordable over time taking market share. Public acceptance of output water quality needs to increase.

Key Takeaways

The Global Atmospheric Water Generator Market Size is expected to witness high growth over the forecast period supported by increasing water stress globally.

Regional analysis: The Asia Pacific region is expected to be the fastest growing market for atmospheric water generators driven by rising requirements in countries such as India, China and Indonesia. Government initiatives and public private partnerships supporting solutions for safe drinking water will boost adoption.

Key players: Key players operating in the atmospheric water generator market are Exxon Mobil Corporation, Saudi Basic Industries Corporation, Royal Dutch Shell Plc., China Petroleum & Chemical Corporation, Chevron Phillips Chemical Company LLC, Total S.A., LyondellBasell Industries N.V., National Petrochemical Company, INEOS Group, and Dow Inc. among others. These companies are focusing on developing more efficient and economical products through technology enhancements as well as targeted marketing initiatives.

For more Insights, Read –

https://www.rapidwebwire.com/atmospheric-water-generator-market-trends-size-and-share-analysis/

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