10 months ago

Atmospheric Water Generator (AWG) Market – USD $8+ Billion revenue by 2024

Atmospheric Water Generator (AWG) Market – USD $8+ Billion revenue by

Atmospheric Water Generator (AWG) Market to grow at 30% CAGR 2016-2024: Global Atmospheric Water Generator (AWG) Market is projected to touch $8.4 billion mark by end of 2024, registering a CAGR of 30% during the period of 2016-2024. Diminishing fresh water accessibility and decreasing water resources along with increasing demand of fresh water for drinking and industrial purpose is predicted to drive industry growth in future. Per capita water accessibility has fallen substantially during last few years. Growing temperatures and scarce rainfall has resulted in drying of lakes and river fronts causing shortage of water. Further, rising industrialization and infrastructural growth specifically in emerging economies has given rise to water scarcity. All these factors are predicted to drive the industry growth. Introduction of policies like DWQS (Drinking Water Quality Section) in Japan, Safe Drinking Water Act in U.S., National Rural Drinking Water Program in India, Drinking Water Directive in countries of European Union and various other initiatives taken by respective governments are projected to propel industry growth by ensuring safe accessibility of potable water for its population. As per WHO (World Health Organisation) report, more than half of the world population is affected by water-borne ailments. Due to this, water produced through atmospheric water generator systems is an effective substitute offering pollutant-free water by condensing filtered air through different filtration processes. However, high requirement of power supply for AWG systems like condenser, dehumidifier and evaporator makes it an impractical choice for few regions with high electric charges. Carbon and other green house emissions released by coal or other compounds poses a threat to atmosphere. But investments in research & development activities to produce low priced and clean technology is predicted to generate new growth opportunities for atmospheric water generator(AWG) market. The industry is segmented into various products like wet desiccation machines and cooling condensation machines. Wet desiccation machines market is predicted to register more than 32% CAGR during forecast timeframe. Technological breakthrough associated with replacement of brine salt with liquid brine to enhance humidity separation from air is predicted to raise the demand for these machines in future. 1 | P a g e

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