SAN FRANCISCO, Nov. 18, 2021 /PRNewswire/ -- The global water desalination equipment marketsize is expected to reach USD 22.79 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.1% from 2020 to 2028. Increasing water scarcity, depletion in freshwater reserves, and fast-paced advancements in desalination technologies are anticipated to have a positive impact on the market growth.
Key Insights & Findings:
The reverse osmosis technology segment accounted for over 55.0% share of the global revenue in 2020 on account of its inexpensive installation cost, ease of processing, capacity to treat various types of feed water, and minimal usage of chemicals
The municipal application segment accounted for more than 50.0% share of the global revenue in 2020 owing to the growing urban population, coupled with the expanding megacities that are putting a strain on the available water sources, thereby augmenting the market growth
The seawater source segment is projected to expand at the fastest CAGR from 2020 to 2028 owing to the increasing scarcity of water for domestic and industrial use, which is expected to be a key driver in augmenting the demand for seawater desalination
The Middle East and Africa accounted for over 40.0% share of the global revenue in 2020. This is attributed to the scarcity of water resources in the region, which is likely to create a strong demand for water desalination equipment over the forecast period
In July 2020, Abu Dhabi Department of Energy (DoE) started the construction of the largest water desalination plant in the world at Al Taweelah Power and Water complex, which is slated to be completed by 2022
Deteriorating environmental factors, such as fluctuating weather patterns, rising pollution, and deforestation, have resulted in water scarcity and drought-like scenarios across the globe. The governments of various countries are investing in the development of desalination facilities to combat this situation, which is expected to drive the market.
The rising adoption of renewable energy to desalinate water is gaining traction in the market as the conventional systems require a considerable amount of energy to function, making them expensive and impracticable for usage in underdeveloped countries. Such developments are expected to drive the demand for water desalination equipment over the forecast period.
Key players such as Veolia and Suez have subsidiary companies that are benefited from the international presence of parent companies. Many companies are also investing in outsourcing R&D facilities in developing economies that can be used to expand their geographical presence and reduce the overall production costs by sourcing raw materials from the regional market.
Grand View Research has segmented the global water desalination equipment market on the basis of source, technology, application, and region:
Water Desalination Equipment Source Outlook (Revenue, USD Billion, 2017 - 2028)
Water Desalination Equipment Technology Outlook (Revenue, USD Billion, 2017 - 2028)
Reverse Osmosis (RO)
Multi-stage Flash (MSF) Distillation
Multi-effect Distillation (MED)
Water Desalination Equipment Application Outlook (Revenue, USD Billion, 2017 - 2028)
Water Desalination Equipment Regional Outlook (Revenue, USD Billion, 2017 - 2028)
Central & South America
Middle East & Africa
List of Key Players of Water Desalination Equipment Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.