Atmospheric Water Generator Market Size, Share & Trends Analysis Report By Product (Cooling Condensation, Wet Desiccation), By Application, By Region, And Segment Forecasts, 2023 - 2030

Atmospheric Water Generator Market Size, Share & Trends Analysis Report By Product (Cooling Condensation, Wet Desiccation), By Application, By Region, And Segment Forecasts, 2023 - 2030

Atmospheric Water Generator Market Growth & Trends

The global atmospheric water generator market size is expected to reach USD 4.56 billion by 2030, registering a CAGR of 9.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by declining freshwater levels, rising technological advancements, and favorable government regulations. The demand for freshwater for industrial and drinking uses is expected to witness growth on account of the declining freshwater levels and depleting water supplies. Moreover, increasing infrastructural development and rapid industrialization have contributed to water scarcity, thereby augmenting the demand for these products over the forecast period.

Atmospheric water generators (AWGs) are manufactured using two principles, including cooling condensation and wet desiccation. Cooling condensation is the most widely used technique owing to large-scale installations in various industries. The wet desiccation technology is comparatively new and is primarily used in army base camps and large-scale industries. Atmospheric water generators are mainly utilized in industrial and commercial facilities owing to high installation costs. Initiatives taken by companies across several sectors to implement eco-friendly practices in the business are expected to drive product demand in the industrial application segment.

Rising research & development activities in this technology are likely to enable manufacturers to develop generators with increased efficiency and reduced environmental impact. New product development initiatives undertaken by various manufacturers now integrate onboard power generation units, including wind turbines and solar panels. Many emerging manufacturers, such as Akvo Atmospheric Water Systems Pvt. Ltd. and Drinkable Air, are primarily involved in making domestic AWGs on account of the relatively simple production process. In addition, increasing investments by various governments in water infrastructure are expected to boost the demand for AWGs in residential applications.

Atmospheric Water Generator Market Report Highlights

• The cooling condensation segment accounted for the largest revenue share in 2022 owing to the improving technology, along with rising demand for cooling condensation water generators in water-stressed regions
• The industrial sector is expected to witness a significant CAGR from 2023 to 2030 on account of the growing demand for water in electricity generation, papers, mining, textiles, and pharmaceutical drugs applications
• The product demand in the Asia Pacific is likely to grow at the fastest CAGR over the forecast period due to water scarcity and depleting freshwater resources coupled with the rising infrastructural activities and rapid industrialization
• In January 2020, Energy and Water Development Corp. (EAWD) sold its self-sufficient energy supply AWG system to a Mexican company engaged in manufacturing bottled waters