NEWARK, Del, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The global water desalination equipment market value is expected to increase from US$ 9,924.1 million in 2023 to US$ 22,645.8 million by 2033. This estimated growth is expected to be driven by a solid CAGR of 8.6% in the global water desalination equipment market over the next decade.
Fresh water demand across the globe seems to be increasing in direct relation to the global population, which is consistently rising as the years go by. As per the studies, fresh water will witness a 40% deficit over the next decade. This opens up prospects for companies to provide technology that ensures a safe and sustainable water supply.
Key players are developing superior-quality seawater desalination systems to treat water containing elevated levels of harmful minerals and salts. Moreover, the innovation of cutting-edge technology that turns ocean water into drinking water for less expense and energy is being adopted by many regions. Thus putting vast reserves of ocean water to good use.
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Several regions are also embracing desalination programs, contributing to increasing investments in water desalination systems. Companies across the globe are aiming to capture expansion opportunities as a way to fast-track solutions across the globe, especially in countries witnessing dire water conditions.
Recently, researchers at MIT have developed an inexpensive desalination system that is more efficient than the previous solar desalination methods. The system can decontaminate wastewater or produce steam to sterilize medical instruments solely on sunlight as a power source.
"Water Desalination Equipment, known for its capacity to convert saltwater into freshwater, serves as a vital solution in regions grappling with water scarcity," states an industry expert. "With cutting-edge technologies such as reverse osmosis and thermal processes, these systems offer sustainable and efficient means to provide clean drinking water, thereby addressing pressing global water challenges," says FMI’s analyst.- opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Water Desalination Equipment Market Report:
- India and China are predicted to expand at robust CAGRs of 10.4% and 9.9%, respectively, through 2033.
- The United States is estimated to be a leading market in North America. Over the forecast period, the country is set to register a CAGR of 4.6%.
- In Europe, the United Kingdom and Germany are forecast to record CAGRs of 3.9% and 3.5%, respectively, through 2033.
- The reverse osmosis technology is expected to account for a market share of 45.6% in 2023.
- The municipal industry is the leading user of water desalination equipment globally. As per the study, the industry is anticipated to acquire a market share of 71.2% in 2023.
Key Developments Taking Place in the Water Desalination Equipment Market Across the Globe
- In June 2023, Bangladesh introduced fiscal breaks to lower water production costs and encourage the deployment of solar power in 19 coasted districts. This initiative aims to boost dependence on solar-powered water desalination in these areas.
- In November 2022, Mitsui O.S.K. Lines, a Japanese shipping firm, and Norward-based EnviroNor collaborated on a Floating Desalination Vessel (FDV). The collaboration also includes the commercialization of these vessels.
- In September 2023, the Cordova desalination plant is projected to offer about 20,000 households safe drinking water.
Top 10 Key Players in the Water Desalination Equipment Industry
- Doosan Enerbility Co Ltd
- SUEZ SA
- Abengoa
- Acciona SA
- Webuild SpA
- Veolia Environnement SA
- Guangzhou KangYang Seawater Desalination Equipment Co., Ltd
- Ferrovial
- Koch Separation Solutions
- Biwater
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Water Desalination Equipment Market Segmentation
By Technology:
- Reverse Osmosis
- Nanofiltration
- Multi-stage Flash
- Electrodialysis
- Vapour Compression
- Multi-effect Distillation
- Others
By Application:
- Municipal
- Industrial
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Author By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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