The Atmospheric Water Generator Market is being driven by a number of factors, including the water crisis and shortages brought on by population growth and climate change. The development of AWG technology will enable the production of freshwater from the atmosphere, an abundant source of water.
The desalination of saltwater and the treatment of wastewater are further uses for this technique. Other factors driving the expansion of this market include rising public awareness of the value of clean water, expanding industrial and urbanisation, and strict government regulations governing water quality. During the forecast period of 2021 to 2031, the aforementioned reasons are anticipated to drive the Atmospheric Water Generator Market's expansion.
Water shortages are the primary cause of the necessity for an atmospheric water generator, but there are other factors as well. Freshwater supplies are few, and as the population expands, this issue will only worsen. In addition, industrial pollution of water resources makes it challenging for people to access clean water. As a result, there is a need for an alternate water source, which AWG technology can fulfil.
The Atmospheric Water Generator Market has a number of benefits, some of which are shown below. The AWG technology is environmentally friendly because it doesn't use chemicals to purify water. It can be applied to many different things, including residential, commercial, industrial, and governmental uses. The technology is currently in the early stages of research, but it is anticipated that future R&D efforts will increase its efficiency.
A device known as an Atmospheric Water Generator (AWG) is used to draw water from the atmosphere and turn it into drinkable water. The airborne water vapour condenses to create water droplets, which are then gathered and kept in a tank. Applications for this technology include residential, commercial, industrial, and governmental ones.
The size of the global market for atmospheric water generators was estimated at $2.5 billion in 2021 and is anticipated to increase to $9.7 billion by 2031, at a CAGR of 14.8%.The high cost of installation and maintenance is the main issue the market for atmospheric water generators is dealing with. Another difficulty is that this technology is still in its infancy and needs to be improved. However, this market is anticipated to expand quickly during the forecast period because of government efforts and R&D activity.
The following are a few of the market's major participants: Sharp Corporation (Japan), Panasonic Corporation (Japan), Hindware (India), KENT RO Systems (India), Midea Group (China), Philips (Netherlands), Ecolo Blue (US), and Whirlpool Corporation (US).
The Below 100 L/d Type to Emerge as the Most Lucrative Segment
Based on type, the Atmospheric Water Generator Market is segmented into four groups: Below 100 L/d, Between 100 and 1000 L/d, Between 1000 and 5000 L/d, and Above 5000 L/d. During the forecast period, the sector with the highest anticipated CAGR will be Below 100 L/d. Due to its tiny size, this form of AWG is widely used in residential applications. The segment between 100 and 1000 L/d is likely to grow at a sizable CAGR during the projected period. Its myriad commercial and industrial applications may be to blame for this rise. The sectors of 1000 to 5000 L/d and Above 5000 L/d are expected to grow at high CAGRs during the projection period.
The Most Popular Application Segment is Residential
The Atmospheric Water Generator Market is divided into Residential, Commercial, Industrial, Government, and Army based on applications. Residential is anticipated to increase at the greatest CAGR of these during the projection period. This development can be ascribed to the increased urbanisation and growing awareness of the value of clean water. Due to the requirement for fresh water in several commercial enterprises, including hotels, restaurants, and office buildings, the commercial segment is also anticipated to expand at a substantial CAGR throughout the forecast period. Due to the demand for freshwater in a number of industries, including chemical, food & beverage, pharmaceuticals, and textiles, the industrial segment is anticipated to expand at a substantial CAGR over the forecast period. Due to the demand for freshwater in various government institutions including schools, hospitals, and prisons, the government segment is also anticipated to expand at a considerable CAGR throughout the forecast period.
The Asia Pacific (APAC) region to render Adequate Financing Avenues
The majority of atmospheric water generator sales worldwide are made in North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Throughout the forecast, Asia Pacific is predicted to develop at the quickest CAGR. This development is tied to increasing urbanisation, increased industry, strict government water quality restrictions, and rising public awareness of the value of clean water. Because each region has well-established industries, only modest growth is expected in both the North American and European regions. Due to a lack of knowledge about this technology, it is projected that the Middle East, Africa, and South America will all have weak growth.
COVID-19 Impact and Market Status
The growth of the market for atmospheric water generators has been significantly impacted by the COVID-19 outbreak. Due to the lockdown that many countries implemented in order to curb the virus's spread, there is less demand for these products now. In addition, industry closures have hampered the growth of this sector. Due to a lack of available raw materials and components, the production of these goods has also dropped. The way these products are carried has also been affected by the lockout. However, when tight restrictions are gradually relaxed and economic activity takes up again, it is projected that the market would rebound in the ensuing years.
Latest Innovations in the Global Atmospheric Water Generator (AWG) Market: A Snapshot
• The world's first commercial atmospheric water generator, which has a daily output capacity of up to 24,000 litres, was introduced by LG Electronics in January 2019.
• The Aqua-Tainer is a portable atmospheric water generator that can produce up to 4 gallons of water per day. It was introduced by Ecolo Blue in August of 2019.
• A new product named Aquarius, an atmospheric water generator that can produce up to 5 litres of water per day, was introduced by the Midea Group in May of 2020.
Atmospheric Water Generator (AWG) Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 9.7 billion|
|Growth Rate||CAGR of 14.8% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Sharp Corporation (Japan), Panasonic Corporation (Japan), Hindware (India), KENT RO Systems (India), Midea Group (China), Philips (Netherlands), Ecolo Blue (US), and Whirlpool Corporation (US)|
Key Segment of Global Atmospheric Water Generator (AWG) Market
By Type Overview 2021-2031, ($ Billion)
• CT Below 100 L/d
• From 100 to 1000 L/d
• From 1000 to 5000 L/d
• Above 5000 L/d
By Application Overview 2021-2031, ($ Billion)
• Government and Army
By Region Overview 2021-2031, ($ Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa