According to Fortune Business Insights The global AtmosphericWater Generator Industry size is expected to touch USD 6,214.9 million by 2027 on account of therising demand for potable water and decline in the availability of freshwater.
As per a recent report published by Fortune Business Insights. The value of
this market was USD 1,940.8 million and will rise at a CAGR of 18.1% between
2020 and 2027.
The COVID-19 pandemic has left us all devastated. We are at apoint of crisis where most businesses are shut temporarily, hampering the
overall world economy. Some businesses are barely able to manage meagre revenue
by working from homes. We however, soon hope to fight back this pandemic by
following the government regulations and measures.
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Drivers & Restraints-
Advent of Smart Technology into Water Generators to Add Impetus
The rise in industrialization and urbanization have led machinesto 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 generators market growth. Besides this, the stringent
regulations imposed on environment and water safety will also aid in favor of the
market.
Industrial Segment Gained Dominance Owing to High Demand for Water
The global market for atmospheric water generators is dominated bythe 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 generators to meet the increasing demand for water.
Regional Analysis-
The Middle East and Africa Dominated Market Owing to Extreme WaterScarcity
The weather conditions in the Middle East and Africa is majorlyresponsible 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 AsiaPacific 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.
Competitive Landscape-
Companies Introducing New Products to Earn Lion’s Share
Some of the companies operating in this market are engaging in newproduct 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.
