Press Release

An Estimated CAGR of Around 8.11% for 2.21 Billion Global Atmospheric Water Generator Market During 2024-30

The Global Atmospheric Water Generator (AWG) Market size is valued at around USD 2.21 billion in 2024 and is anticipated to grow at a CAGR of about 8.11% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The atmospheric water generator is one of the potential solutions that can help mitigate water scarcity by fulfilling the need for fresh and clean drinking water. This is especially useful for the regions where the traditional sources and means to get water are not possible. AWGs can convert the moisture present in the air into water. As the atmosphere holds significant quantities of water amounting to roughly 12,900 cubic kilometers, any extraction from it can be easily regenerated by the evaporation of water from the ocean and the earth.

The importance of the AWGs increases with the rising global water scarcity due to increasing population and growing consumption, especially for the regions with water scarcity. According to the World Economic Forum, by 2030, the demand for freshwater will exceed its supply by 40%. Additionally, migration and rising global temperature further elevate the problem by depleting the available freshwater sources. According to the estimation of the United Nations, increase in global average temperature by 1oC (1.8oF), there is a decline of 20% in renewable water resources.

As the need for freshwater rises, atmospheric water generators emerge as one of the key technologies that provide fresh and clean drinking water. The current AWG offerings primarily target the commercial segment due to the scalability and order size. However, the companies have now increased their focus on the residential segment. To meet the demand from the residential segment the companies have launched compact-size atmospheric water generators that would be a potential alternative to the water purifiers.

Moreover, the advancement in technology will further increase the performance and affordability of the AWGs. For instance, AWGs offered by Atmosphere can provide clean drinking at the rate of USD 0.024 (2.4 cents) per Liter. The unfolding of these scenarios will lead to wider adoption of atmospheric water generators. This coupled with the market being in its early phase highlights healthy growth prospects for the AWG industry, further states the research report, “Global Atmospheric Water Generator (AWG) Market Analysis, 2024.”

Segmentation Analysis

Cooling Condensation Segment Holds the Largest Market Share

Based on the technology, the market is further bifurcated into cooling condensation and liquid/wet desiccant. The Global Atmospheric Water Generator Market is dominated by AWGs based on cooling condensation because of the simplicity of the process involved. The process involves the cooling of humid air through a condensation process. The effectiveness and reliability of the method allow leading AWG companies to offer their products based on this technology. It is a mature technology and can be deployed in AWGs used in residential, commercial, and industrial applications making it a preferred technology for use.

Asia-Pacific Leads the AWG Industry

The Asia-Pacific region is witnessing the highest revenue growth in the atmospheric water generator industry. This is mainly because significant countries in Asia-Pacific lie in the tropical and subtropical regions. The tropical regions are highly humid regions with an ambient temperature of around 30^oC which presents an optimal working condition for AWG. Apart from this, the region also has a huge population and is growing through rising economic activities which will increase the water consumption in the region. This will further exacerbate the problem of water scarcity in many countries and geographies in this region. So, all these factors will provide a potential increase in the demand for AWG from Asia-Pacific in the Global Atmospheric Water Generator Market over the forecasted period.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Akvo Atmospheric Water Systems Pvt. Ltd. (Akvosphere), Planets Water, Island Sky (SkyWater), Drinkableair Technologies, Zhongling Xinquan (Fujian) Air Drinking Water Technology Co., Ltd. (Hendrx), GENAQ, Watergen, MAYAQWA, AW International Ltd, AirOWater (Dewpoint), SkyWell, WatAir, Veragon, WAIEA Water, Drupps, MAITHRI Aquatech, and Others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?