The global atmospheric water generator market size was valued at USD 1,940.8 million in 2019 and is projected to reach USD 6,214.9 million by 2027, exhibiting a CAGR of 18.1% during the forecast period. As per a recent report published by Fortune Business Insights titled, “Atmospheric Water Generator Market Size, Share & COVID-19 Impact Analysis, By Product Type (Cooling Condensation and Desiccant Based), By Application (Industrial, Commercial and Household), and Regional Forecast, 2024-2032. The Atmospheric Water Generator (AWG) market is witnessing substantial growth as concerns over water scarcity, increasing demand for clean and safe drinking water, and advancements in water generation technologies gain momentum globally.
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Market Segmentation
The AWG market can be segmented based on product type, application, and region.
Product Type
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Cooling Condensation Atmospheric Water Generators: This segment dominates the AWG market due to its efficiency in extracting water from humid air. These systems are widely used across industrial and commercial applications.
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Wet Desiccation Atmospheric Water Generators: Wet desiccation technology is gaining traction due to its ability to generate water even in low-humidity environments, making it suitable for arid regions.
Application
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Industrial: The industrial segment accounts for the largest share of the AWG market, with growing demand for large-scale water generation systems in sectors like oil and gas, food and beverage, and manufacturing.
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Commercial: The commercial sector, including hotels, office buildings, and educational institutions, represents a significant portion of the market due to the increasing need for sustainable water solutions.
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Residential: Residential AWGs are becoming more popular, particularly in regions where water shortages are frequent. Innovations in compact, affordable AWG units have made them more accessible for household use.
Drivers & Restraints-
Advent of Smart Technology into Water Generators to Add Impetus
The rise in industrialization and urbanization have led machines to overpower natural habitat. A decline in freshwater sources has been observed so as to provide more space for new buildings and recreational spaces. The decline in the level of freshwater sources, coupled with the increasing industrialization and urbanization are the key factors promoting the atmospheric water generator market growth. Besides this, the stringent regulations imposed on environment and water safety will also aid in favor of the market.
However, the rise in carbon footprint and the high requirement for power generation to suffice to the needs of all residential, commercial, and industrial sectors may pose major challenges to the market in the coming years. Nevertheless, the advent of technological innovations such as smart technology, cooling condensation wet desiccation, and others are likely to help create lucrative growth opportunities to the market in the coming years.
Industrial Segment Gained Dominance Owing to High Demand for Water
The global market for atmospheric water generator is dominated by the industrial section based on segmentation by application with a 74.5% share earned in 2019. The growth of this section is attributed to the large quantity of water used in industries and manufacturing units. Large scale industries are now acquiring economical and sustainable water solutions such as atmospheric water generator to meet the increasing demand for water.
Regional Analysis-
The Middle East and Africa Dominated Market Owing to Extreme Water Scarcity
The weather conditions in the Middle East and Africa is majorly responsible for scarcity of water. The aforementioned regions are heavily dependent on desalination plants and water bottles to suffice to their daily needs. The use of air to water systems in this region helps this region to produce more potable water more economically. Therefore, this region dominated the market in 2019 and are likely to continue doing so in the coming years as well.
Additionally, North America earned 217.8 million in 2019 and Asia Pacific is expected to rise at a CAGR of 21.1% in the forecast period accountable to the increasing water scarcity problems in South-east Asian Nations.
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Competitive Landscape-
Companies Introducing New Products to Earn Lion’s Share
Some of the companies operating in this market are engaging in new product launches and are therefore investing heavily in latest technology. Other vendors are engaging in joint ventures and partnerships to collaboratively earn significant revenues, thereby making a significant remark in the market competition.
Significant Industry Developments of the Atmospheric Water Generators Market are:
December 2019 – GENAQ Technologies S.L. showcased their air generators in the largest building and construction event called “The Big 5” in the Middle East. It also promoted the S50 generator and provided brief information on air and water technologies.
Some of the Key Players of this Market include:
- Water-Gen Ltd. (North Carolina, USA)
- Akvosphere (West Bengal, India)
- Drinkable Air Technologies (Florida, USA)
- Eshara Water (Abu Dhabi, UAE)
- Water Technologies International, Inc. (Florida, USA)
- Clean Wave Products (USA)
- Atlantis Solar (New York, USA)
- Island Sky Corporation (Florida, USA)
- WaterMaker India Pvt. Ltd. (Maharashtra, India)
- Dew Point Manufacturing (British Columbia, Canada)
- PlanetsWater Ltd. (London, U.K.)
- Eurosport Active World Corporation (Florida, USA)
- Others
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