April 24, 2020
According to the research report titled ‘Global Atmospheric Water Generator Market Size study, by Type (Cooling condensation, Wet Desiccation) by Application (Residential, Commercial, Industrial) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global atmospheric water generator market accrued USD 1.6 billion in 2018 and is presumed to expand with a CAGR of 20.1% during 2019-2026.
Notably, atmospheric water generators extract water from the atmosphere and are used where potable water is unavailable. The product can also be connected to an external municipal source of water as a conventional water purifier.
Growing freshwater demand for drinking and industrial applications along with depletion of water resources are major factors driving the growth of worldwide atmospheric water generator industry. According to World Wildlife Organization, around 1.1 billion people do not have adequate access to water while up to 2.7 billion people face difficulty in acquiring water for at least a month per year. Similarly, World Health Organization states that around 785 million people lack access to potable water currently.
Moreover, global warming and sparse rainfall have resulted in drying of riverfronts and lakes. Swift industrialization and rising infrastructural development, especially in developing nations, are fueling the adoption of atmospheric water generators. However, the product requires substantial electrical energy, which in turn may act as a restraining factor to the overall market growth.
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As per the regional analysis, atmospheric water generator industry in Asia-Pacific is predicted to showcase robust growth in the forthcoming years. Growing industrial and manufacturing sector have augmented the utilization of water in the industrial sector. In addition, growing population, scarcity of water sources and uneven rainfall conditions are promoting the business scenario in the region.
Prominent companies operating in global atmospheric water generator market are Atlantis Solar, Fujian Yuxin Electronic Co. Ltd., Ambient Water, Island Sky Corp., Water Technologies International Inc., Planets Water Ltd., WaterMaker India Pvt. Ltd., Saisons Technocom Pvt. Ltd., and Dew Point Manufacturing among others.