The global atmospheric water generator (AWG) market is experiencing significant growth, driven by rising demand for potable water and advances in water generation technologies. According to a new report from The Business Research Company, the market is expected to grow from $3.14 billion in 2023 to $3.67 billion in 2024, reflecting a robust compound annual growth rate (CAGR) of 17.0%.
This growth is attributed to several factors, including strengthening water infrastructure, increasing urbanization, and the rising need for clean drinking water. The market is projected to continue its upward trajectory, reaching an estimated $6.04 billion by 2028, with a CAGR of 13.3%.
Key trends fueling this growth include government initiatives to address water scarcity, the expanding global population, and the growing number of people living in water-stressed regions. Additionally, technological innovations such as the development of atmospheric RV water generators, 4th-generation AWGs, and IoT-integrated systems are expected to further drive market expansion.
The report also highlights an increasing focus on research and development, product innovation, and strategic partnerships, as companies seek to stay ahead in a competitive and rapidly evolving market.
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