According to a new study by MarkNtel Advisors, the Global Atmospheric Water Generator (AWG) Market is expected to grow at a CAGR of 24.88% in the forecast period of 2021-26. The prime factor supporting the market growth is the burgeoning adoption of AWGs at workplaces like schools, hospitals, banks, municipal corporations, etc., due to the rapidly declining freshwater levels and depleting water resources. Additionally, rapid urbanization & infrastructure development in commercial, residential, and industrial sectors shall also drive the demand for AWGs during the forecast period.
Furthermore, the growing consumer awareness about AWGs' various advantages like water retrieval with no additional operating expenses & a handy source for drinkable water shall further surge the overall market growth in the coming years, further states the research report, "Global Atmospheric Water Generator (AWG) Market Analysis, 2021."
Wet Desiccation to Observe the Fastest Market Growth in the Forecast Period
Based on Product Type, the Global Atmospheric Water Generator (AWG) Market bifurcates into:
Of both, Wet Desiccation is more likely to display the fastest market growth, while Cooling Condensation shall dominate the market with the largest share in the forecast period. The constant technological advancements and up-gradation to replace crystalline brine salt with liquid brine while enhancing humidity extraction from the air is the prime factor backing the rapid growth of Wet Desiccation AWGs.
Besides, these AWGs are gaining significant popularity, especially from military & big industries, due to their portable variants that produce a water volume of approximately 4550 liters per day. Furthermore, the US Army & Navy considering installing these for their respective uses to have an efficient source of fresh drinking water shall also contribute to the rapid adoption of the segment during 2021-26.
On the other hand, Cooling Condensation is predicted to dominate the Global Market with the largest share in the forecast period. The wide use of cooling condensation AWGs across industrial, commercial, and residential areas is majorly due to their large-scale installation & productivity to suffice the need for freshwater, thereby backing the segment dominance in the coming period. Additionally, the demand for these generators is also booming because of technological advancements, particularly in areas with water scarcity.
Asia-Pacific to Dominate the Market with the Largest Share
Geographically, Asia-Pacific shall dominate the market with the largest share in the forecast period. It owes to constant industrialization, surging infrastructural activities & water scarcity, and depletion of freshwater resources in the region. In Asia-Pacific, China & India are the most prominent countries likely to drive the market in the forecast period. Hence, based on these aspects, the region shall obtain the largest market share in the forecast period, reveals MarkNtel Advisors in their research report, "Global Atmospheric Water Generator (AWG) Market Analysis, 2021."
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Global Atmospheric Water Generator (AWG) Market are Akvo Atmospheric Water Systems Pvt. Ltd., Dew Point Manufacturing, Saisons Trade & Industry Private Limited, WaterMaker India Pvt. Ltd., PlanetsWater, Water Technologies International, Inc. (WTII), SkyWater Air Water Machines, Drinkable Air, Hendrix Water, Energy and Water Development Corp. (EAWC), Atlantis Solar, GENAQ Technologies S.L., Air2Water LLC, EcoloBlue, Inc., Watergen.
Key Questions Answered in the Study