May 22, 2024
Ict

Atmospheric Water Generator Market is Poised to Grow at a Vigorous Pace Due to Increasing Freshwater Scarcity Issues

Market Overview
An atmospheric water generator is a device that extracts water from humid ambient air. It collects atmospheric humidity and condenses it in the form of liquid water. The technology works on the principle of condensation and involves the cooling of air below its dew point. The condensed water is then collected and filtered to obtain potable water. The growing demand for access to clean drinking water, especially in water-scarce regions, has fuelled the development and adoption of atmospheric water generators around the world. Such generators offer a sustainable solution for freshwater generation without depleting existing water resources.

The Global Atmospheric Water Generator Market is estimated to be valued at US$ 3.08 bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the atmospheric water generator market are WaterMicronWorld, Dew Point Manufacturing, Watair Inc., Ambient Water, Saisons Technocom Pvt. Ltd., WaterMaker India Pvt. Ltd., Planets Water, Water Technologies International, Inc., Island Sky Corporation, Fujian Yuxin Electronic Co. Ltd., Eurosport Active World Corporation Technologies, Atlantis Solar, Air2Water LLC, Konia, and Ecoloblue, Inc. Some of the prominent players are expanding their global footprint by tapping into new regional markets. Growing freshwater crisis and increasing investments in water purification infrastructure across developing economies provide immense opportunities for market expansion. Many leading companies are focusing on partnerships, product innovation, and business expansion strategies to establish their presence worldwide and benefit from the high growth opportunities.

Market Drivers
Growing freshwater scarcity caused due to factors such as rapid urbanization, climate change, depletion of existing water sources, etc. is a major driver propelling the demand for atmospheric water generators. According to the United Nations, over 1.2 billion people globally will be living in regions with absolute water scarcity by 2025. Atmospheric water generators provide a sustainable solution to freshwater requirements without relying on existing water resources. Growing investments in water technologies to tackle water stress across various regions also boost the adoption of such generators. Stringent regulations regarding clean drinking water along with rising health and environmental awareness augment market growth. Various favorable government initiatives and funding programs for water purification further support the business outlook.

Market Restraints
High initial investments and production costs associated with atmospheric water generators limit their widespread adoption, especially in price-sensitive underdeveloped markets. Moreover, the devices require regular maintenance and cleaning to remove impurities from the water, adding to operating expenses. Power-intensive cooling systems also contribute to high energy consumption. Dependence on weather conditions such as temperature and humidity also challenges consistent water output. However, ongoing technological advancements are expected to make the generators more efficient and affordable over the coming years.

Segment Analysis
The atmospheric water generator market can be segmented based on application into residential and commercial. The commercial segment currently dominates the market and is expected to continue its dominance over the forecast period. Atmospheric water generators find high demand from commercial establishments like hotels, restaurants, hospitals due to the bulk amounts of water required for daily operations.

Global Analysis
Regionally, Asia Pacific dominates the global atmospheric water generator market and is anticipated to maintain its position throughout the forecast period. Countries like India and China account for high sales due to increasing industrialization and urbanization. Water scarcity issues prevalent in several parts of Asia Pacific boost the demand for alternative water sources. North America is another major region for atmospheric water generators driven by rising environmental concerns and awareness about water conservation. Key players are focusing on expanding their presence across developing economies through collaborations and partnerships.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it