Dublin, May 02, 2024 (GLOBE NEWSWIRE) -- The "Desalination Technologies Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global desalination technologies market has grown rapidly in recent years. It will grow from $17.4 billion in 2023 to $19.47 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth observed in the historical period can be attributed to several key factors. These include advancements in the capability of desalination systems, continuous improvements in graphene-based membranes, a focus on reducing brine production and increasing freshwater recovery, a growing interest in hydroponic agriculture, and government initiatives and investments.
The desalination technologies market is expected to see rapid growth in the next few years. It will grow to $30.1 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The anticipated growth in the forecast period can be attributed to several key factors. These include the increasing challenges of water scarcity, a growing demand for freshwater leading to a rise in desalination projects, the adoption of hybrid desalination to lower carbon footprints and provide high-quality water, a rising need for desalination systems, and the increasing global demand for freshwater. Major trends expected in this period include innovations in membrane technology, the adoption of IoT (Internet of Things) and AI (Artificial Intelligence) technologies, the development of innovative and sustainable desalination technologies, the introduction of smart innovations, and advancements in membrane technologies.
The escalating water scarcity phenomenon is poised to drive the growth of the desalination technology market in the foreseeable future. For instance, according to the United Nations, approximately 1 billion urban residents worldwide currently endure water scarcity, a figure projected to escalate to between 1.7 billion and 2.4 billion over the next three decades. This highlights the critical importance of advancing desalination technologies to alleviate water scarcity challenges.
Key players in the desalination technology market are leveraging innovation to gain a competitive advantage. Notably, integrated plug-and-play reverse osmosis technology represents a significant advancement in this domain, offering a convenient and efficient solution for water treatment needs. For example, in April 2022, Veolia Water Technologies, a renowned water treatment company based in France, introduced Barrel, an integrated plug-and-play reverse osmosis (RO) technology tailored for wastewater reuse and low-pressure RO applications. Barrel technology yields high-quality freshwater that adheres to water quality standards, featuring varying capacities ranging from 400 m3/day to 50,000 m3/day per unit. Additionally, it achieves a reduction in electrical consumption in the range of 0.05 kWh/m3 of freshwater produced, underscoring its efficiency and sustainability in addressing water scarcity challenges.
In May 2023, Xylem Inc., a US-based company specializing in developing innovative water solutions through smart technology, completed the acquisition of Evoqua Water Technologies for $7.5 billion. This strategic move was aimed at establishing the world's largest pure-play water technology company. The acquisition was intended to address customers' mission-critical needs by offering an unparalleled portfolio of products and services. Additionally, it aimed to create a transformative platform to tackle critical water challenges on a larger scale. Evoqua Water Technologies, headquartered in the US, specializes in providing water and wastewater desalination technology.
North America was the largest region in the desalination technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the desalination technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the desalination technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Research Scope
Markets Covered:
1) By Technology: Reverse Osmosis (RO); Multi-Stage Flash (MSF); Multi-Effect Distillation (MED)
2) By Source: Sea Water; Brackish Water; River Water; Other Sources
3) By Application: Municipal; Industrial; Other Applications
Key Companies Mentioned: Hitachi Ltd.; Veolia Environnement SA; Suez SA; Acciona SA; DuPont de Nemours Inc.
Time Series: 2018-2023, 2023-2028 & 2033
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $19.47 Billion |
| Forecasted Market Value (USD) by 2028 | $30.1 Billion |
| Compound Annual Growth Rate | 11.5% |
A selection of companies mentioned in this report includes, but is not limited to:
- Hitachi Ltd.
- Veolia Environnement SA
- Suez SA
- Acciona SA
- DuPont de Nemours Inc.
- Doosan Enerbility Co. Ltd.
- Danfoss A/S
- Webuild SpA
- Xylem Inc.
- Abengoa SA
- BWT AG
- Ampac USA
- Aquatech International LLC
- Keppel Offshore & Marine Ltd.
- H2O Innovation Inc.
- Hyflux Limited
- IDE Technologies
- FISIA ITALIMPIANTI SpA
- Aqualyng AS
- Keppel Seghers Pte. Ltd.
- Komax Systems Inc.
- Dow Water & Process Solutions
- Degremont
- John Holland Group
- Tianjin MOTIMO Membrane Technology Co. Ltd.
- Toray Industries Inc.
- Toyobo Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/up4gp6
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