Atmospheric Water Generator Market to Reach $10.8 billion, Globally, by 2033 at 14.8% CAGR: Allied Market Research
Wilmington, Delaware, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Atmospheric Water Generator Market by Type (Cooling Condensation and Wet Desiccation), Capacity (Up to 60 liters, 61-500 liters, 501-1000 liters, and More than 1000 liters), and Application (Residential and Non-Residential): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the atmospheric water generator market was valued at $2.7 billion in 2023 and is estimated to reach $10.8 billion by 2033, growing at a CAGR of 14.8% from 2024 to 2033.
Prime determinants of growth
Increase in water scarcity, various government-led initiatives, and rise in awareness and environmental concerns drive the growth of the global atmospheric water generator market. However, the market also faces restraints due to high humidity requirements, high initial and operational costs, and continuous need for electricity to perform operations. Despite these challenges, the atmospheric water generator market continues to evolve, driven by innovation and a growing emphasis on sustainability.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $2.7 billion |
| Market Size in 2033 | $10.8 billion |
| CAGR | 14.8% |
| No. of Pages in Report | 245 |
| Segments Covered | Type, Capacity, Application, and Region. |
| Drivers | Increase in Water Scarcity Government-Led Initiatives Rise in Awareness and Environmental Concerns |
| Opportunities | Technical Advancements |
| Restraints | High humidity requirements High initial and operational cost and continuous need for electricity to perform operation |
The cooling condensation segment to maintain its leadership status throughout the forecast period
By type, the cooling condensation segment held the highest market share in 2023, accounting for nine-tenths of the global atmospheric water generator market revenue, and is estimated to maintain its leadership status throughout the forecast period. Cooling condensation is a process used in atmospheric water generators (AWGs) to extract water from the air. It involves cooling humid air to below its dew point, causing the water vapor to condense into liquid water. Cooling condensation is one of the most common and efficient techniques employed in AWGs to produce potable water from atmospheric humidity. On the other hand, the wet desiccation segment is projected to manifest the highest CAGR of 16.0% from 2024 to 2033. Wet desiccation is the process of water generation which uses a concentrated brine solution to adsorb the water from humid air. The water is extracted by heating slightly the desiccant followed by cooling to condense the water.
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The 61-500 liters segment to maintain its leadership status throughout the forecast period
By capacity, the 61-500 liters segment held the highest market share in 2023, accounting for more than one-third of the global atmospheric water generator market and is estimated to maintain its leadership status throughout the forecast period. These 61-500 liters AWGs are commonly installed in small residential communities as well as in institutional and commercial locations such as schools, hospitals, malls, and others. However, the up to 60 liters segment is projected to manifest the highest CAGR of 16.3% from 2024 to 2033. Atmospheric water generators (AWG) with a capacity less than 60 liters are primarily demanded by homes or small offices. In addition, portable atmospheric water generators are also bought by a considerable number of consumers to harvest water from the atmosphere, especially when they are traveling.
The non-residential segment to maintain its lead position during the forecast period
By application, the non-residential segment accounted for the largest share in 2023, contributing to more than nine-tenths of the global atmospheric water generator market revenue, and is projected to maintain its lead position during the forecast period. The non-residential applications of the atmospheric water generator to produce fresh potable water in commercial spaces including industrial buildings. However, the residential segment is expected to portray the largest CAGR of 17.3% from 2024 to 2033. Residential applications of the atmospheric water generator are to produce clean and pure water in residential buildings such as apartments, houses, villas, bungalows, and others. Commonly, AWGs having capacity 60 liters and less are primarily used for residential applications owing to less consumers of water in domestic settings.
Asia-Pacific to maintain its dominance by 2033
By region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for more than one-third of the atmospheric water generator market revenue, and is expected to dominate the market during the forecast period. Moreover, the LAMEA region is expected to witness the fastest CAGR of 16.9% from 2024 to 2033. Asia-Pacific and LAMEA regions have experienced a shortage of fresh drinkable water, which eventually drives the market for atmospheric water generators.
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Leading Market Players: -
- SkyWater Air Water Machines
- Water Technologies International, Inc.
- Drinkable Air Technologies
- Akvo Atmospheric Water Systems Pvt. Ltd
- FUJIAN WANJUAN TECHNOLOGY CO. LTD.
The report provides a detailed analysis of these key players in the global atmospheric water generator market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." Allied Market Research has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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