The Global Atmospheric Water Generator Market is Driven by Rising Concerns Regarding Water Scarcity

The Global Atmospheric Water Generator Market is Driven by Rising Concerns Regarding Water Scarcity

Atmospheric water generators are devices that extract water from humid ambient air. They collect atmospheric moisture and convert it into potable water for daily consumption. Atmospheric water generators provide an important source of freshwater in water-scarce regions around the world. They help address issues related to limited access to clean drinking water, which is a major concern globally. According to experts, over 1.2 billion people live in areas affected by water scarcity worldwide. With climate change exacerbating drought conditions, the need for reliable and sustainable sources of freshwater is growing rapidly. Atmospheric water generator technologies offer a decentralized solution to meet rising demand, especially in remote areas with poor water infrastructure. 

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:

Traditionally, water production relied heavily on centralized systems involving large-scale water collection, filtration, and distribution infrastructure. However, such centralized models face challenges in areas with lower population density and poor connectivity. Atmospheric water generators address this issue through their modular and portable designs, generating purified water on-site close to the point of use. Their decentralized production helps overcome issues around infrastructure development, operational costs, transportation, and water losses. This decentralized approach based on small-scale atmospheric water production units is expected to drive significant market growth over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate in the atmospheric water generator market due to high overall costs associated with R&D, manufacturing, and marketing of atmospheric water generators.
Bargaining power of buyers: The bargaining power of buyers is high as atmospheric water generators are increasingly adopted in residential and commercial sectors. Buyers can negotiate on price and demand additional features.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials required to manufacture atmospheric water generators such as metals, plastics and semiconductors have many supplier options available.
Threat of new substitutes: The threat of new substitutes is low as atmospheric water generators provide a unique solution to fresh water production from air humidity with no viable substitutes available.
Competitive rivalry: The competitive rivalry is high due to presence of many global and regional players offering varied product and technology options.

Key Takeaways

The Global Atmospheric Water Generator Market Size is expected to witness high growth over the forecast period owing to rising demand for fresh water globally.

Regional analysis: The Asia Pacific region dominated the global market in 2023 and is expected to grow at a fastest CAGR between 2023 and 2030. This is attributed to rapid economic and industrial development in countries like China and India, which has increased overall fresh water usage. Rising urban population has also boosted the demand.

Key players: Key players operating in the atmospheric water generator market include 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 players are focusing on development of advanced technologies to improve efficiency and reduce overall production costs.

For more Insights, Read –

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

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