Global water desalination equipment market to reach $21.8 billion by 2027
The water desalination equipment market in the U.S. is estimated at US$3.6 billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.6 billion by the year 2027 trailing a CAGR of 11% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 6.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.9 billion by the year 2027.
In the global Multi-Effect Distillation (MED) segment, USA, Canada, Japan, China and Europe will drive the 7.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 billion in the year 2020 will reach a projected size of US$2.2 billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at an 8.8% CAGR through the analysis period.