Atmospheric Water Generator Market Future Opportunity and Growth Analysis Report to 2028

in atmospheric •  2 years ago 

Global atmospheric water generator (AWG) market share will increase at a steady rate due to the rising demand for drinkable water in developing countries. AWGs use cutting-edge technologies to produce water from the surrounding air. A notable portion of the world population is suffering from acute water scarcity due to declining groundwater reserves and water wastage.

Global atmospheric water generator (AWG) market will exceed USD 9.15 billion in value by 2028. Natural disasters, such as hurricanes and cyclones are one of the many factors responsible for severe water shortage. Public infrastructure issues like corrosion of water pipelines due to poor maintenance have also contributed to the supply of contaminated water, fueling product adoption.

According to UNICEF, more than 2 billion people reside in nations having an inadequate water supply. The report further states that around 700 million people are expected to be relocated due to severe water scarcity by 2030. This scenario will boost the demand for AWG technologies to help end-users look for alternative sources of water supply.

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Industrial applications of atmospheric water generators:

Global atmospheric water generator market value from industrial applications will surpass USD 7.27 billion by 2028. Industrialization has played a vital role in accelerating the economic growth and development of various countries.
Since new industrial processes are being introduced across several manufacturing plants, there is a strong need for a continuous water supply to help industries run smoothly. Some commercial atmospheric water generators can produce 1,000 to more than 10,000 liters of water every day.

With the help of partnerships and mergers & acquisitions (M&As), end-users in emerging economies can benefit from the use of AWGs to not only fulfill their water needs but also reduce their carbon footprint. For instance, Uravu Labs, a start-up based in Bengaluru, India, recently announced the development of a 100% renewable AWG. The product will generate fully renewable water from air by using only green energy sources like biomass, waste-heat, and solar.

Climate change causing severe water shortage:

Environmental concerns like climate change are rising at a worrying rate due to high carbon emissions and heavy loss of natural habitat. This has caused drastic changes in the climatic conditions, compelling people to take conscious steps in overcoming these challenges.

According to the State of Climate Services 2021 report by the World Meteorological Organization (WMO), over 20% of river basins across the world saw either a rapid increase or decrease in their surface water area in 2020. This will increase the risk of floods as well as droughts over the coming years.

Atmospheric water generators can be quite useful in fulfilling the robust need for potable water. Since these machines extract moisture from the surrounding air, they can be an effective option for solving major issues regarding access to drinking water sources. Recent advancements in technologies have made these systems more energy efficient.

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North America will witness large-scale commercial construction:

North America atmospheric water generator (AWG) industry size will register notable expansion in the future due to the rising commercial construction activities. According to the data published by the U.S. Census Bureau, in April 2022, the total construction spending was estimated at USD 1,744.8 billion, which was a 12.3% increase from that of the same month last year.

This figure indicates a strong need for current and future installation of atmospheric water generators across commercial buildings, such as hotels, colleges, universities, banks, and offices to provide an easier access to contaminant-free drinking water.

Global atmospheric water generator industry forecast will be positively influenced by the growing water scarcity and demand for alternative water generation options. Water Technologies International, Watergen Inc, Airwaterawg, Aqua Sciences, Genesis Systems LLC, SOURCE Global, PBC, and Drinkable Air Florida Inc., among others, are the main market players. Rising awareness about the technology in low-income economies and increased focus on environmental preservation could turn out to be key factors boosting the industry scope.

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