According to the Renub Research latest report by titled "Global Desalination Market Report by Technology (Reverse Osmosis, Multi-stage flash (MSF) Distillation, Multi-effect (MED) distillation, and Others), Application (Municipal, Industrial, Others), Water Source (Seawater, Brackish Water, River Water, and Others), Regions and Company Analysis 2024-2032" the Global Water Desalination Market share is expected to be almost US$ 36.98 Billion by 2032. The CAGR for the market from 2024 to 2032 is 9.61%. Renub Research stated that it amounted to US$ 16.19 Billion in 2023.
Water is essential for all living beings. It covers nearly 70% of the earth's surface. There is a severe shortage of drinking water in most countries worldwide. Safe drinking water is vital for all life forms though it does not provide any calories. Therefore, this problem can be solved by utilizing a desalination system, which turns the unusable seawater into freshwater by removing the salt and minerals from the seawater. The desalination system works by using electrical, thermal, or chemical energy.
Aspects Driving the Desalination Industry Globally:
Globally, increasing water scarcity and immediate consumption in freshwater reserves are anticipated to drive the demand for desalination. The lack of freshwater resources combined with the increasing demand for water in various burned areas, as these areas have shortfall surfaces water sources such as rivers and lakes, has expanded the number of desalination plants. Likewise, government-led initiatives boost market growth, which, in turn, generate increased demand for desalination equipment over the coming year.
On the other hand, advancements in desalination technologies are anticipated to propel the desalinated water demand in the future. Governments across the world adopt the (PPP) Public-Private Partnership model to match the private sector's operational expertise.
The reverse osmosis technology is to be the largest segment of the desalination market:
Based on technology, the global desalination market includes Reverse Osmosis, Multi-stage Filtration, and Multi-effect Distillation. The reverse osmosis led to the desalination market. The technology is widespread in developing countries due to its low cost, simple design, and operation. The demand for RO technology is to grow in the coming years owing to its easy processing, low installation cost, ability to treat all types of feed water, and minimal use of chemicals.
Similarly, the Multi-stage Flash (MSF) distillation technology segment is likely to expand over the coming year. Flexibility to work with power generation plants, high gain output ratio (GOR), operation ease, maintenance costs and lower operating are projected to boost technology acceptance in desalination applications, consequently driving the market.
Municipal applications account for a significant market share:
On the basis of application, the municipal sector is responsible for providing potable water to the urban population globally. The rising urban population, coupled with the expanding megacities globally, is expected to constrain the capacity of the municipal sector to provide water. Consequently, this is likely to emerge as a critical sector responsible for the market's growth. Furthermore, groundwater reserves and increasing surface water pollution have driven the demand for clean drinking water. Increasing water scarcity in dry regions is driving pure water demand globally.
The Middle East & Africa is the large region for the desalination market:
Geographically, the Middle East & Africa region is the most considerable market for desalination, followed by APAC, North America, South America, and Europe. The growing per-capita consumption of water in the region and the increasing population due to the risen immigration is boosting the demand for water desalination.
Regardless, the construction sector in the Middle East is predicted to witness significant growth with rising investments to enhance logistical connectivity strong government support for infrastructure development and reconstruction efforts in conflict-hit areas. This, in turn, is to increase the water demand, thereby benefiting the market growth over the forecast period.
COVID-19 impact on desalination industry:
Numerous countries have decided to go into complete lockdown for a few months due to the COVID-19—one of the main reasons for the desalination market's downturn in 2020. COVID-19 has resulted in a substantial increase in consumer expenditure on healthy products. This is one of the primary drivers of the water desalination industry growth in 2020 and 2021. In 2021, many have invested in seawater desalination technologies by understanding the market demand.
Key Players:
The desalination market is highly fragmented with players like Acciona S.A., Veolia, Suez, Abengoa, Ferrovial S.A., Doosan Heavy Industries, Toyobo Co. Ltd., General Electric, Lanxess AG, and Mitsubishi Corporation.
Related Report :
Market Summary:
· Region - We have covered by Global Desalination Market by 5 viewpoints by Region (Middle East & Africa, North America, South America, Europe, and the Asia Pacific)
· Technology - Renub Research Report covers by Technology in the 3 viewpoints (Reverse Osmosis, Multi-stage Filtration, Multi-effect Distillation)
· Application - This Report covers by application in the 3 viewpoints (Municipal, Industrial, Others)
· All the major players have been covered from 3 Viewpoints (Overview, Recent Development, and Revenue Analysis) Acciona S.A., Veolia, Suez, Abengoa, Ferrovial S.A., Doosan Heavy Industries, Toyobo Co. Ltd., General Electric, Lanxess AG, and Mitsubishi Corporation.
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