by Atmospheric Water Generators (AWGs) utilize atmospheric humidity to produce fresh drinking water, functioning as a sustainable alternative to traditional water sources. AWGs remove moisture from the air through a process of condensation and then convert it into fresh water that is fit for human consumption. The global AWG market has witnessed significant growth in recent years due to growing concerns regarding the scarcity of potable water sources and climatic changes resulting in irregular rainfall patterns. AWGs provide an environment-friendly solution to freshwater needs by harnessing atmospheric moisture which is an abundant natural source. Advantages of AWGs include their mobility, ability to operate without any infrastructure for water transportation, and affordability compared to desalination plants or water purifiers. The global Atmospheric Water Generator Market is estimated to be valued at US$ 4.06 Billion in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
There has been considerabletechnological advancement in the design and efficiency of AWGs in the past decade. The introduction of nanotechnology and membrane distillation techniques have allowed devices to produce more water using lesser energy. Additionally, the miniaturization of components has led to the development of compact portable AWGs ideal for off-grid and disaster relief operations. The market has also witnessed greater integration of IoT (Internet of Things) and AI (Artificial Intelligence) which has enabled remote monitoring and optimization of machine performance. Furthermore, growing investment by governments and private entities in atmospheric water harvesting projects in arid regions has augmented the sales of commercial and industrial grade AWGs.
Porter’s Analysis
Threat of new entrants: Low economies of scale and capital requirements for new entrants limit the threat in the atmospheric water generator market.
Bargaining power of buyers: Large customers have significant bargaining power due to the availability of substitutes like bottled water.
Bargaining power of suppliers: Major suppliers have moderate bargaining power due to a lack of product differentiation and switching costs.
Threat of new substitutes: Substitutes such as bottled water posses a moderate threat. Competitive rivalry: Players in the atmospheric water generator market focus on technological innovations to differentiate their products and compete.
Key Takeaways
The Global Atmospheric Water Generator Market Size is expected to witness high growth.
Regional analysis: The atmospheric water generator market in Asia Pacific is expected to witness the fastest growth during the forecast period due to rising industrialization and increasing freshwater scarcity in the region. Counties like India and China are dominating the Asia Pacific market.
Key players operating in the atmospheric water generator market are Integra LifeSciences Corporation, AbbVie Inc., Johnson & Johnson, HansBioMed, Becton, Dickinson and Company, Cook Group, Smith & Nephew Plc., Reprise Biomedical, Organogenesis Holdings Inc., Tissue Regenix, LifeNet Health, Zimmer Biomet Holdings, Inc., Stryker Corporation, MiMedx Group, PolyNovo Limited, Fidia Pharma USA Inc., Baxter International Inc., In2Bones Global, BioHorizons, Inc., Harbor MedTech, Inc., MLM Biologics Inc., Geistlich Pharma AG, Olaregen Therapeutix, Inc., EnColl Corporation, Kerecis limited, DSM, ACell Inc., 3M, Cell Constructs I, LLC, Marine Polymer Technologies, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
