KEY MARKET INSIGHTS:
The global water desalination equipment market size was valued at USD 8.68 billion in 2021. The market is projected to grow from USD 9.36 billion in 2022 to USD 16.81 billion by 2029, exhibiting a CAGR of 8.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with water desalination equipment experiencing lower-than-anticipated demand across all the regions compared to pre-pandemic. Based on our analysis, the global market exhibited a decline of -25.9% in 2020 as compared to 2019.
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Latest Trends:
Desalination Sector Shifting toward Renewable for Sustainable Production is Growing the Demand for Water Desalination Equipment
The whole world is focusing on the adoption of renewables across every sector to reduce the intensity of greenhouse gas emissions. The water desalination market is also not behind in renewable energy adoption. In a desalination plant, the energy required per kiloliter is about 3 kWh typically these days. Fossil fuel-based energy dominates the global desalination market. According to the World Bank statistics, in 2021, energy prices increased by over 80% compared to 2020, and the scenario continues. The primary reason behind the upsurge in energy prices is an uptick in commodity prices for coal and natural gas. On the other side, as per the International Renewable Energy Agency (IRENA) report, 62% of the renewable energy added in 2020 had lower costs than cheapest fossil fuel alternatives. Currently, solar and wind energy sources are anticipating high growth in terms of consumption due to low cost and meeting net-zero emission targets.
LIST OF KEY COMPANIES PROFILED IN THIS REPORT:
• TORAY INDUSTRIES, INC. (Japan)
• SUEZ Group (France)
• Sulzer Ltd (Switzerland)
• DuPont (U.S.)
• Aquatech International (U.S.)
• Guangzhou KangYang Seawater Desalination Equipment Co., Ltd. (China)
• AGUAPURA USA, Inc. (U.S.)
• ForeverPure Corporation (U.S.)
• Sep-Pro Systems, Inc. (U.S.)
• Canadian Crystalline Water India Limited (India)
