Dublin, Oct. 14, 2020 (GLOBE NEWSWIRE) -- The "Atmospheric Water Generator Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2020 - 2025" report has been added to ResearchAndMarkets.com's offering.
Atmospheric water generator (AWG) market size is set to grow at a CAGR of 23% during the forecast period 2020-2025 and projected to reach $3 billion by 2025.
The AWG is an ideal solution designed to provide drinkable water by extracting water from the humid ambient air, unlike a dehumidifier and fulfills the accessibility to pure drinking water as well. Stenocara gracilipes the natural ability to act as the best solution to extract water from the atmosphere.
Additionally, AWG is advantageous when compared to reverse osmosis-based water purifiers as it never waste water during the process of purification. The wide-spread use of solar-powered AWGs in military use, refugee camps, and off-grid communities, especially in remote areas is contributing to the expansion of the global atmospheric water generator market size.
Key Takeaways
- APAC held a larger share in the atmospheric water generator market, as of 2018. It is majorly owing to the increasing demand for pure water which is free from biologic contamination and low mineralization and a rise in consumer awareness in eminent countries such as China and India.
- The growing acceptance of solar AWGs that employ solar thermal energy to produce water is gaining traction from the hot and humid regions. This is because it reduces electricity costs and dependency of the irregular power supply is likely to aid in the market growth of the AWG.
- The advancements in the product such solar panels which are intended to offer on-board power supply are creating a significant number of opportunities for the atmospheric water generator market during the forecast period.
Drivers
- Novel technology developments associated with the AWGs are attributing to growth of the atmospheric water generator market
The continuous research operations centering the improvement regarding the efficiency of water generation and equipment cost reduction are influencing the adoption of AWGs, globally. The research studies have resulted in the development of some new technologies including advanced filtration systems, electrically improved harvesting, advanced oxidation processes, and automatic variable filtration technology.
These novel technologies are being integrated within varied AWG offerings by manufacturers to mark their position in the global AWG market share by creating a unique mechanism to help conserve water. Additionally, other technologies such as sustainable hybrid AWGs and the use of asphalt solar collectors incorporation in the AWG aids inexpensive water collection in hot and humid regions, thereby witnessing the rise in the adoption rate of AWGs.
- The growing prevalence of AWGs across various end-use verticals
The large scale industries which include oil & gas, steel, and paper are increasing the demand for AWGs. The research study intended to enhance the production efficiency in providing pure water accessibility is, in turn, creating new avenues for the key atmospheric water generator industry players.
Challenges
- Cost factor is primarily hindering the growth of the AWGs market
High energy consumption and production cost are limiting the boundaries of the AWGs within the residential application. In order to eliminate this limitation, the manufacturers are concentrating to develop new technologies and manufacturing processes that minimize the overall product cost, which indirectly assists in increasing the base of residential and commercial users.
Additionally, the complex mechanism allied with the wet desiccation AWG and lack of consumer awareness related to wet desiccation AWG are acting as the restraining factors of this market. Conversely, concerns regarding the generating efficiency are representing caution for both new entrants and established market players. The usage of historic method water desalination to obtain water from the environment is resembling a key constraint for the atmospheric water generator market.
Market Landscape
Partnerships, Technology Innovations, and R&D activities are key strategies adopted by players in the atmospheric water generator market. In 2018, the market of the atmospheric water generator has been consolidated by the top ten players accounting for 40% of the share. Dew Point Manufacturing, Water Technology International, Inc., Island Sky Corporation, Ambient Water, Atlantis Solar, Ecoloblue, Inc., Eurosport Active Corporation Technology, Fujian Yuxin Electronic Co, Ltd., Island Sky Corporation, and Watair Inc are the atmospheric water generator top 10 companies.
Partnership
- In April 2017, Ambient Water signed an agreement of partnership with three breweries for craft beer production from condensation. This strategic development is intended to expand the market presence of the company.
- In 2019, the Bharat Electronics announced the launch of a new product namely the Atmospheric Water Generator (AWG) to meet the necessity for drinking water across the globe, at Aero India 2019.
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