According to Fortune Business Insights, the global water desalination equipment market size is projected to grow from USD 9.36 billion in 2022 to USD 16.81 billion in 2029, at CAGR of 8.7% during forecast period.
The global water desalination equipment market was valued USD 8.68 billion in 2021. The global market size is expected to grow from USD 9.36 billion in 2022 and reach USD 16.81 billion by 2029, exhibiting a CAGR of 8.7% during the forecast period from 2022-2029. This information is provided by Fortune Business Insights, in its report, titled, “Water Desalination Equipment Market, 2022-2029.”
According to their analysis, the factors such as cost depletion of freshwater to surge demand for equipment to boost the growth of market during forecast period.
Over time, freshwater or drinking water has become more scarce, increasing people’s dependence on its availability. Water shortage is a widespread occurrence, even in nations with ample water resources, and is brought on by, among other things, ineffective water resource management, wars, and climate change. According to UNICEF, about two-thirds of the world’s population endure acute water scarcity for at least one month each year. There are still more than two billion people without access to properly regulated drinking water at home.
The COVID-19 outbreak is probably going to reduce global water sector investment. Attributed to the high cost of disruptions, operational reliability has become more crucial. These operational requirements result from modifications in supply and demand patterns as well as various emergency measures taken by governments to combat the pandemic.
The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
The market is categorized Multi-Stage Flash (MSF) Distillation, Multi-Effect Distillation (MED), Reverse Osmosis (RO), Electrodialysis (ED), Nanofiltration (NF), and others based on technology. The Reverse Osmosis (RO) segment holds the highest market share globally as it has low energy consumption.
The market is further categorized into sea water, brackish water, river water, and others based on source. Sea water is expected to dominate the global market throughout the forecast period as seawater is the most available and utilized source for water desalination.
The Middle East and Africa’s market for water desalination equipment, which was valued at USD 4.33 billion in 2021, is expected to dominate the industry over the coming years.
Over the past few years, the North America market for water desalination technology has been expanding significantly.
In Europe, capacity expansion in the water desalination industry is ongoing. About 9% of the world’s capacity for desalinating water was located in this region.
Fundamental companies in the market often make crucial announcements regarding some business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, sign contracts with government organizations, and so on.