New York (US), July 18, 2023 (GLOBE NEWSWIRE) -- Atmospheric Water Generator Market Overview
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Atmospheric Water Generator Market Information by Product, by Application, and Region - Forecast till 2032", The atmospheric water generator market can increase from USD 2,466.54 million in 2023 to USD 5,010.89 million by 2030, with a growth rate of 10.40% from 2023 to 2030.
Market Synopsis
Through the condensation of vapors in the air, the atmospheric water generator creates drinkable, fresh, and clean water. Atmospheric water generators are a recent development in water generation technology that offers a practical, economical, and long-lasting response to the issues raised by water scarcity.
To generate enough water, the atmospheric water generator makes use of thermodynamics, mechanical cycles, and an electronic control system. An atmospheric water generator's fundamental components are a purifier, a water filter, a compressor, a water condenser, an air filter, a carbon filter, and a water tank.
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Market Competitive Landscape:
The major manufacturers of atmospheric water generators are
- Akvo Water Systems Pvt. Ltd (India)
- Water Technologies International (US)
- Zhongling Xinquan (FUJIAN)
- Air Drinking Water Technology Co. Ltd (China)
- GENAQ Technologies S.L (Spain)
- AirOWater (India)
- Watergen (Isreal)
- Ray Agua (Spain)
- SkyH2O (US)
- Yueqing Kemao Electric Co. Ltd (China)
- Dew Point Manufacturing (Canada)
- SkyWater Air Water Machines (South Africa)
- Atlantis Solar (US)
- SunToWater Technologies LLC (US)
- Eshara Water (UAE)
- Canadian Dew Technologies Inc. (Canada)
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 5,010.89 million |
| CAGR | 10.40% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 & 2021 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa and South America |
| Key Market Drivers | Rising problem of water reserve depletion will spur the demand of atmospheric water generators. |
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Market USP Covered:
Market Drivers:
Some of the factors that will further bolster the demand for atmospheric water generators include increasing water shortages, declining groundwater levels, interruptions in the global supply chain, and various government efforts. Additionally, it is predicted that throughout the course of the forecast period, policies supportive of the development of water infrastructure will increase demand for atmospheric water producers. The lack of freshwater and rising technical investments, followed by benevolent government restrictions, are predicted to be the main drivers of industry expansion.
Manufacturers in the worldwide atmospheric water generator market are concentrating on developments in technology. Users may find it beneficial to control operations with accurate monitoring and minimal human involvement thanks to the usage of smart technology in generators. The opportunity exists for the implemented smart technology, such as IoT, to regularly gather data related to the generator.
As a result, there will be a rise in the demand for atmospheric water generators in the global market. The implementation of the Internet of Things (IoT) or artificial intelligence (AI) in the atmospheric water generator is found to increase productivity with ease for the users.
Market Restraints:
The main problems with AWGs are their high purchase and upkeep costs, especially for residential consumers. The market growth for residential applications is constrained by customers' limited purchasing power, notably in the Middle East and Africa. In order to reduce the cost of producing atmospheric water generators, important businesses are searching for innovative and cutting-edge technology.
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COVID 19 Analysis
It started off as a human health issue and is now a serious threat to international trade, the economy, and the financial system. Due to lockdowns brought on by the COVID-19 epidemic, the manufacture of numerous products in the atmospheric water generator market was halted. In addition, with the release of the COVID-19 vaccine on the market, fewer incidences of the disease are anticipated in the future. As a result, atmospheric water generator businesses have resumed operations at full capacity. By the end of 2022, this is anticipated to aid in the market's recovery.
Equipment and machinery manufacturers must concentrate on safeguarding their personnel, operations, and supply networks in order to deal with urgent problems and implement new working procedures once COVID-19 infection cases start to diminish.
Market Segmentation
By Product
Products for atmospheric water generators in the market include wet desiccation and cooling condensation. Through the anticipated period, the Cooling Condensation kind is anticipated to command the Atmospheric Water Generator Market revenue.
By Application
Atmospheric water generators are mostly used in industrial, commercial, and residential settings. Out of which, the Industrial sector led the market in the base year and is also anticipated to continue to hold a dominant position during the forecasted period.
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Regional Insights
The Asia Pacific currently has the biggest market share and will continue to boast of the largest revenue share over the study period. The market in this area is growing rapidly as a result of the area's rapid development and population expansion, which have transformed lifestyles and increased water demand.
Over the course of the predicted period, North America will see a significant CAGR. The main element fuelling the market's expansion in the area is advances in water generation technologies. Leading drivers of the atmospheric water generator market expansion in North America are rapid industrialization and the presence of significant corporations in the country.
Because of the rising focus on the creation of cutting-edge solutions to address global warming, Europe is another region where the market for atmospheric water generators is expanding at a rapid rate. Pollutants in the subsurface water are to blame for the expansion of the atmospheric water generator sector in Europe.
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