May 21, 2024
Ict

Atmospheric Water Generator Market Expected to Flourish at a CAGR of 16% due to Growing Concerns Over Water Scarcity

The atmospheric water generator market allows individuals and organizations to access potable water and generate water resources independent of existing water sources. Atmospheric water generators utilize the concept of condensation to extract water present in humid air. The devices capture water vapor from ambient air and convert it into liquid water for consumption through a process of cooling and condenstation. These generators find applications across residential, commercial, and industrial sectors and provide an eco-friendly solution to address concerns related to water scarcity.

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

The key players are focusing on product innovation and expansion to emerging economies with new opportunities emerging in industrial, commercial and residential sectors. With growing water concerns across the globe, there exists significant opportunities for market expansion in regions facing water scarcity such as the Middle East, Africa and Asia Pacific. Increased investments from private players are projected to drive global expansion of the atmospheric water generator market over the forecast period.

Market Drivers

The key driver for the growth of the atmospheric water generator market is the growing concerns over water scarcity across various regions globally. According to studies, approximately 4 billion peopleexperience high to extreme water scarcity at least 1 month per year. With climate change exacerbating drought risks, atmospheric water generators are emerging as a sustainable solution to address clean drinking water requirements independent of existing water sources. Additionally, growing applications of atmospheric water generators across residential, commercial and industrial sectors along with product innovation is further fueling the demand and aiding the market growth over the coming years.

PEST Analysis
Political: Regulations related to water purification and treatment are expected to positively influence the atmospheric water generator market. Some countries have made it mandatory to install water purification systems in commercial buildings, this will propel market growth.

Economic: Rising disposable incomes and growing investments in commercial infrastructures like hotels, hospitals are factors supporting market expansion. Demand is also driven by increasing freshwater scarcity worldwide coupled with need for alternate water sources.

Social: Rapid urbanization and growing population have boosted demand for fresh and clean drinking water. Social awareness about health benefits of pure water is increasing adoption of atmospheric water generators. These factors fuel the social drivers.

Technological: Advancements in cooling technologies enable higher moisture capture from ambient air. Use of nanotechnology and solar photovoltaic systems in atmospheric water generators enhances efficiency. New product launches integrate latest purification methods like reverse osmosis for providing hygienic water.

The regions where atmospheric water generator market value is concentrated includes North America and Asia Pacific. North America accounts for over 35% share due to rising installations in residential and commercial sectors. Favorable regulations and awareness propels the North American market.

Asia Pacific region is the fastest growing market for Atmospheric Water Generator Market . This is attributed to increasing fresh water scarcity issues and rising disposable incomes in developing countries like India and China. High industrial and infrastructure development activities augment the need for alternate water sources in Asia Pacific making it the fastest growing regional market.

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