The global atmospheric water generator (AWG) market is
expected to witness growth at a CAGR of over 20.1% in the forecast period (2016
to 2024). Rising demand for these products across large-scale industries; like
oil & gas, steel, and paper should positively impact the industry.
Moreover, technological improvements giving high water output also generate
more sales.
Declining availability of
fresh water resources along with higher infrastructural expenses are said to
drive the industry. Prices of machines from different manufacturers vary
depending on applications, product efficiency, and quality. Most market
products need ample electricity which could be impossible at some places,
restraining the growth of this market.
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However, technological
advancements in AWG products to provide on-board power supply; for example,
solar panels can positively influence the industry during the next eight years.
Also, several dealers in the supply chain may pose industry challenge,
resulting in unwanted hold-ups through manufacturing. Hence, the incorporation
of AWGs across the value chain would be the key to market sustenance from 2016
to 2024.
However, high costs of
industry products, along with high energy consumption, limit further
penetration, especially in residential applications. Manufacturers will come up
with innovative technologies and production methods to lower the overall costs
of products to gain attention from residential & commercial users. The
atmospheric water generator market is categorized into products, applications,
and regions.
Products comprise cooling
condensation and wet desiccation. Cooling condensation AWGs are the most
commonly utilized. These generators occupied over 95 % of the total shares
in 2015. Various technological developments related to lower power consumption
& costs are projected to augment segment growth till 2024.
Lack of customer
awareness about wet desiccation products coupled with their complex mechanism
should restrict their growth. However, substitution of crystalline brine salts
with liquid brine to enhance air moisture extraction is likely to boost the
demand for wet desiccation AWGs in the eight years ahead.
Applications include
residential, industrial, and commercial. Residential led the market in the past
and is said to continue likewise during 2016 to 2024. Demand for AWGs from this
segment should grow at a CAGR of over 14 % over the forecast period.
Commercial applications are estimated to grow at the highest rate of over
19 % in the near future. Industrial will observe substantial expansion.
Regions in the worldwide
atmospheric water generator market are Latin America, Asia Pacific, Europe,
North America, and the Middle East & Africa. Demand in MEA is projected to
grow at a CAGR of 18 % till 2024. Its awareness regarding AWG benefits can
drive the regional industry. India and China may experience high gains on
account of their rising urbanization and changing lifestyles.
Moreover, higher
prevalence of water scarcity and unusual rainfalls in India would propel the
demand for ideal water production alternatives. This is forecast to positively
influence the Indian market. The huge need for power supply for AWGs renders it
impractical for usage across few geographical regions. Some of the eminent
players in the global market encompass Fujian Yuxin Electronic Co. Ltd.; Watair
Inc.; Ambient Water Corp.; and Technocom Pvt. Ltd.
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