The new atmospheric water generator (AWG) market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Atmospheric Water Generator (AWG) Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the atmospheric water generator (AWG) market.
“One of the primary growth drivers for this market is the growing awareness and adoption of water safety regulations,” says a senior analyst for the Industrials sector at Technavio. Many countries have introduced workplace regulations for the supply of safe drinking water within the work premises. These regulations help in promoting the adoption of atmospheric water generator (AWG) to supply potable water. As the markets recover, Technavio expects the atmospheric water generator (AWG) market size to grow by USD 2.96 billion during the period 2020-2024.
Atmospheric Water Generator (AWG) Market Segment Highlights for 2020
- The atmospheric water generator (AWG) market is expected to post a year-over-year growth rate of -6.49%.
- Based on technology segment, the market saw maximum growth in the cooling condensation segment in 2019. Technological innovations related to energy efficiency and hybrid energy sources are driving the growth of the segment.
- Using high-efficiency coils and rechargeable batteries in solar AWGs will increase the popularity and adoption of solar AWGs.
- 35% of the growth will originate from the APAC region.
- The increasing focus on providing a safe living environment and civic infrastructure and implementation of various government programs to ensure the availability of drinking water are fostering market growth in APAC.
- China and Japan are the key markets for atmospheric water generators in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.
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- The atmospheric water generator (AWG) market size is expected to accelerate at a CAGR of about 20% during the forecast period.
- The atmospheric water generator (AWG) market is segmented by Technology (Cooling condensation and Wet desiccation) and Geography (APAC, North America, Europe, MEA, and South America).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Aldelano Corp., Atlantis Solar and Wind LLC, AW International Ltd., DewPoint Manufacturing Inc., Energy and Water Development Corp., KCC Companies, Rayagua Corp., Island Sky Corp., Water Technologies International Inc., and WaterMicronWorld International
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