Global Atmospheric Water Generator Market Set For 13.3% Growth, Reaching $6.04 Billion By 2028

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Demand for potable water is on the rise, and as a result, the atmospheric water generator market has grown rapidly in recent years. The market is expected to escalate from $3.14 billion in 2023 to $3.67 billion in 2024, reflecting a compound annual growth rate CAGR of 17.0%. Key factors contributing to this growth include strengthening water infrastructure, increasing demand for potable water, and rising urbanization.

What is the Expected Market Size of the Atmospheric Water Generator Global Market by 2028?

The atmospheric water generator market size is poised for rapid growth in the coming years. The market is projected to reach $6.04 billion by 2028, with a compound annual growth rate CAGR of 13.3%. This projected growth can be attributed to increasing government initiatives, the expanding global population, rising water scarcity, and a significant number of people residing in water-stressed countries. Major trends in the forecast period include the development of atmospheric RV water generators, the 4th generation of atmospheric water generators, IoT-integrated atmospheric water generators, and an increased focus on research and development, product innovation, and strategic partnerships.

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What Are the Key Growth Drivers of the Atmospheric Water Generator Market?

Increasing water scarcity is a major factor that will fuel the growth of the atmospheric water generator market. Water scarcity is outlined as a deficiency in safe water resources or water shortage. To illustrate, Global Citizen, an Australia-based international education and advocacy organization focused on eradicating extreme poverty, reported in February 2022, that as Africa’s population continues to grow and climate change saps finite resources, approximately 230 million Africans will face water scarcity by 2025, with up to 460 million living in water-stressed areas.

Who Are the Major Players in the Atmospheric Water Generator Market?

Key companies operating in the atmospheric water generator market include Water-Gen Ltd., Akvo Atmospheric Water Systems Pvt. Ltd., Drinkable Air Technologies, SOURCE Global, Ray Agua, Island Sky Corporation, and many more. Collectively, these companies are turning to innovation and strategic partnerships to drive their market dominance.

How Is Innovation Shaping the Atmospheric Water Generator Market?

One of the key trends gaining traction in the market is the development of atmospheric RV water generators. Major companies are pivoting towards this technology and developing new products to bolster their market position. For instance, Watergen Ltd, headquartered in Israel, launched an aftermarket water generator for recreational vehicles and campers in 2021. The Watergen ON Board leverages air humidity to generate more than 10 gallons of fresh, drinking water each day without the need for an external water source or hookup. The device is easily plugged into any 12V power source, including solar panels and batteries.

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How Is the Atmospheric Water Generator Market Segmented?

The atmospheric water generator market has been segmented based on type and application. By type, the market is divided into Cooling Condensation and Wet Desiccation. In terms of application, the market encompasses Industrial, Commercial, and Residential uses.

What Are the Key Regional Insights into the Atmospheric Water Generator Market?

Asia-Pacific was the largest region in the atmospheric water generator market in 2023 and is projected to be the fastest-growing region during the forecast period. The report covers multiple continents including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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