Worldwide Demand For Atmospheric Water Generator Is Poised To Grow Sluggishly At A CAGR by 2027
According to Fortune Business Insights The global atmospheric water generators market size is expected to touch USD 6,214.9 million by 2027 on account of the rising demand for potable water and decline in the availability of freshwater. As per a recent report published by Fortune Business Insights. The value of this market was USD 1,940.8 million and will rise at a CAGR of 18.1% between 2020 and 2027.
Drivers & Restraints-
Advent of Smart Technology into Water Generators to Add Impetus
The rise in industrialization and urbanization have led machines to overpower natural habitat. A decline in freshwater sources has been observed so as to provide more space for new buildings and recreational spaces. The decline in the level of freshwater sources, coupled with the increasing industrialization and urbanization are the key factors promoting the atmospheric water generators market growth.
Industrial Segment Gained Dominance Owing to High Demand for Water
The global market for atmospheric water generators is dominated by the industrial section based on segmentation by application with a 74.5% share earned in 2019.