Atmospheric Water Generator Market size worth over $11bn by 2026
Published Date: June 8, 2020 Authors: Kunal Ahuja, Sonal Singh
Atmospheric Water Generator (AWG) Market size is set to surpass USD 11 Billion by 2026, according to a new research report by Global Market Insights, Inc.
Atmospheric water generator provides clean and safe water extracted from humidity in air through dehumidification process. It offers filtered water through multifilter channels including carbon filters, reverse osmosis, and UV sterilization lights to ensure optimum purity. These systems generator water through wet desiccation and cooling condensation. This product finds application in industrial, commercial, and residential.
Climate changes accompanied with insufficient rainfall affecting water precipitation has led to decline in freshwater reserves which is likely to drive the market demand. Rapid urbanization and industrialization along with increasing population is another contributing factor towards depleting water resources thereby promoting the market growth.
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Cooling condensation based atmospheric water generator market is anticipated to expand at over 30% CAGR till 2026. Technological advancement to minimize or reduce electricity and equipment cost should drive cooling condensation market size. AWG technology uses cooling condensation process to produce drinkable water for various applications including in institutions, households, and industries.
In cooling condensation type, a compressor circulates refrigerant through a condenser and then to an evaporator coil thereby cooling the air surrounding. This further would lower air temperature to its dew point causing water to condense. Cooling condensation offers high output over other AWG machines thereby providing a competitive edge in the market. Technological advancements to reduce equipment cost and power consumption is likely to propel the industry growth.
Browse key industry insights spread across 240 pages with 136 market data tables and 66 figures & charts from the report, “Atmospheric Water Generator (AWG) Market Size By Product (Cooling Condensation, Wet Desiccation), By Application (Industrial, Commercial, Residential), Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
The atmospheric water generator industry size from residential application is expected to observe around 30% growth from 2020 to 2026. For instance, Water Technologies International offers AWG for commercial utilization catering large scale solution for water shortages. This product is designed to generate up to 3,000 gallons of drinking water per day. These commercial systems are suitable for military, community, institutional, and government use and can be fitted for mobile deployment purpose. The company also offers dual mode unit providing 160 tons high volume air conditioning.
Commercial application segment valuation is poised to reach USD 2.35 billion by 2026 owing to rising demand from commercial properties and military applications. These are installed in malls, offices, hotels, and military camps to ensure availability of drinkable water. These products are deployed by armed forces from India, the U.S., France, and Mexico owing to easy transportation thereby stimulating industry growth. Manufacturers are developing novel technology to lower production costs and attract more commercial users in the industry.
Asia Pacific atmospheric water generator market is predicted to witness 30% CAGR during the forecast period. Rapid climate change has led to insufficient rainfall & depleting natural water reserves is likely to boost the market demand. Agricultural application needs high water supply for irrigation which is another cause of natural water consumption. This product helps in ensuring efficient water supply which helps in maintaining humidity and temperature for crop yield.
MEA industry is slated to register gains at over 30% through 2026 owing to rising prevalence of water scarcity in the region. Government initiative and financial support promoting sustainable farming techniques is likely to fuel the market demand in this region.
Key participants in this market are Drinkable Air, Inc, Air2Water, LLC, Ray Agua, Akvo Atmospheric Water Systems Pvt Ltd, EcoloBlue, Inc, Ambient Water Corporation, Eshara Water, Aquacello, Atlantis Solar, Atmospheric Water Solutions, Inc., Canadian Dew Technologies, EAWC Technologies, Element Four Technologies, Inc, GWIEC ELECTRIC and Island Sky Corporation.
As per market analysis & trends, Companies are involved in various initiatives including new product launch, acquisitions & mergers, partnerships, and collaborations to increase their market share and improve product offerings. For example, in 2019, Bharat Electronics launched its latest prouct in collaboration with MAITHRI and CSIR-IICT. Bharat Electronics’ AWG employs a novel technology to extract water from the humidity present in the atmosphere and purify it.