The global atmospheric water generator (AWG) market is expected to post a CAGR of over 23% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global atmospheric water generator market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing adoption of solar AWGs. Solar AWGs employ either solar panels to generate electricity or solar thermal energy to produce water. The use of solar AWGs is gaining popularity in hot and humid regions as it can eliminate dependence on the irregular power supply and help cut down electricity costs. Solar-powered AWGs are especially useful in remote areas designated for military use, in developing countries, for off-grid communities, and refugee camps, which may not have a direct connection to utility electricity supply. Such advantages are expected to drive the demand for solar AWGs during the forecast period.
As per Technavio, new technological developments in AWG market will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global atmospheric water generator (AWG) market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global AWG market: New technological developments in AWG market
Technological developments and innovations in AWGs will fuel global AWG market growth during the forecast period. Researchers are currently focusing on improving the efficiency of water generation and reducing equipment cost. The development of advanced filtration systems, advanced oxidation processes, electrically improved harvesting, and automatic variable filtration technology are some of the new technologies that are being incorporated by manufacturers into their AWG offerings. Other technologies for AWG include sustainable hybrid AWGs and the use of asphalt solar collectors for inexpensive water collection in hot and humid regions. Such technologies are expected to witness greater adoption by AWG manufacturers during the coming years.
“Many government agencies and international organizations are spreading awareness and advocating the development, adoption, and effective implementation of water safety standards and regulations. The increase in public awareness about waterborne diseases and related regulations along with technological developments in AWG, will drive the demand for AWGs across the world,” says a senior analyst at Technavio.
Global AWG market: Segmentation analysis
This market research report segments the global AWG market by technology (cooling condensation and wet desiccation) and geographical regions (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018 with a market share of over 34%, followed by North America, Europe, MEA, and South America, respectively. However, during the forecast period, the MEA region is expected to register the highest incremental growth of over 1%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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