growing adoption of solar awgs is driving the Atmospheric Water Generator (AWG) Market
Technavio analyzes that the Atmospheric Water Generator (AWG) Market is expected to grow at a CAGR of 9.45% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.36 billion.There are various factors that contribute to the growth of the market. The Atmospheric Water Generator (AWG) market is experiencing significant growth, particularly in the adoption of solar-powered AWGs. Solar AWGs harness the power of the sun to extract water from humid air, making them an eco-friendly and sustainable solution for water scarcity. This technology is gaining popularity in regions with high humidity and limited water resources, as well as in off-grid applications. The increasing awareness of water conservation and the availability of affordable solar technology are key drivers for the growth of the solar AWG market.
The global Atmospheric Water Generator (AWG) market is experiencing substantial growth, particularly in the Commercial Buildings Cooling condensation segment. This expansion can be attributed to the fundamental process of AWGs, which involves cooling and condensation. When surrounding air cools below its dew point, water vapor in the air condenses into liquid. This condensed moisture is then collected and directed through a procedure akin to dew formation, where droplets accumulate on a cooled surface. Cooling condensation AWGs, which are the most commonly used globally due to their simple design and manufacturing process, offer superior output compared to wet desiccation AWGs. Industrial activities increasingly rely on these systems for water production, despite challenges such as corrosion and the need for toxic inhibitors. Bottling facilities also benefit from AWGs, as they provide a sustainable and cost-effective water source.
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Atmospheric Water Generator (AWG) Market Segmentation
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Amidst growing water scarcity and disruptions in water supply, atmospheric water generators (AWGs) have emerged as a viable solution for producing fresh drinking water in isolated labs, residential areas, and industrial buildings. These systems are essential for ensuring water security during drought conditions and rainfall deficits, addressing hygiene needs for hand washing, and meeting water requirements for human survival and animal welfare. AWGs have gained significance due to increasing water scarcity, drought occurrences, and environmental awareness, while minimizing carbon footprint and electricity consumption in metropolitan areas and military installations.
The Atmospheric Water Generator (AWG) market is a significant segment of the larger Global Industrial Machinery, Supplies, and Components Market. This market encompasses companies manufacturing industrial machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio's market research, the growth of the global industrial machinery, supplies, and components market is driven by increasing industrial output in process and discrete industries. This expansion is due to the rising demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing economies. Consequently, the AWG market, which provides a sustainable solution to freshwater scarcity and water security issues, is poised for growth in response to the escalating water requirements in various industries and the importance of maintaining hygiene standards.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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