Global Atmospheric Water Generator (AWG) Market size is anticipated to reach USD 4.74 billion by 2024. Atmospheric water generator (AWG) is a temperature driven machine that relies on the level of humidity present in the air. The factors that propel the growth of the atmospheric water generator market include increasing demand for product in large scale industries such as oil & gas, paper, and steel, growing urbanization in the nation, changing consumer lifestyle, infrastructural growth in developing countries, and rising industrialization. On the other hand, there are factors that may hamper the growth of the market including high capital cost. Atmospheric water generator industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Top Players:
Some of the key players that fuel the growth of the atmospheric water generator industry comprise Dew Point Manufacturing, WaterMicronWorld, Watair Inc., Dew Point Manufacturing, Ambient Water, Water Maker India Pvt. Ltd., SaisonsTechnocom Pvt. Ltd., Planets Water, Island Sky Corporation, Water Technologies International, Inc., Eurosport Active World Corporation Technologies, Ecoloblue, Inc., Fujian Yuxin Electronic Co., Ltd., Atlantis Solar, Konia, and Air2Water LLC. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Product Insights:
The market could be explored by product type as Wet desiccation and Cooling Condensation. The “Cooling condensation AWG” segment led the atmospheric water generator (AWG) market in 2015 and is anticipated to maintain its dominance by 2024. The key factors that may be attributed to the growth of market include technological advancements and low cost. Based on range, the AWG industry could span 100L-250L, 20L-80L, and 500-3000L.
Application Insights:
The key applications that could be explored in the AWG market include Commercial, Industrial and Residential. The “Residential” segment led the market of atmospheric water generator in 2015 and is anticipated to maintain its dominance by 2024. The key factors that may be attributed to the growth of market include high product installations in Latin America, increasing demand for pure water mainly in emerging countries including India and China and rising consumer awareness.
Regional Outlook:
APAC accounted for the major market share of the atmospheric water generator (AWG) in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing commercial & residential spending in regions like China, India, and Indonesia, low production costs, presence of large number of component producers, and low labor charges. APAC is likely to be followed by MEA (Middle East & Africa) region in the forecast period.
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