Desalination System Market - Growth, Trends, and Forecasts (2019 - 2024)
The market for desalination system is expected to grow at a CAGR of 7.5% during the forecast period of 2019-2024. One of the key driving factors of the market is increasing demand from the Middle East & North Africa region. However, membrane fouling which occurs due to continuous usage of membranes and decreases the efficiency of the desalination process is likely to hinder the market growth.
Lack of water infrastructure in North African countries is also expected to boost the demand for market growth.
Potential integration of desalination with renewable energy is expected to provide the market with growth opportunities in the future.
Asia-Pacific is expected to witness the highest growth rate during the forecast period.
Key Market Trends
Municipal Application to Dominate the Market
Municipal application accounted for the major share of the market in 2018.
The global water consumption rate has been rapidly increasing in recent years. This has created a challenging scenario for the local governments, where they have to provide fresh water for the growing population.
This has increased the necessity for generating potable water from saltwater resources. Ocean water, which makes up 97% of the global water supply is, hence, increasingly becoming a viable option from where fresh potable water can be generated.
Countries like Saudi Arabia, India, and Spain are spending a significant amount of money in establishing desalination plants to meet the increasing demand for water.
Hence, the municipal application is likely to dominate the market during the forecast period.
Asia-Pacific is Expected to Witness the Highest Growth Rate
The Asia-Pacific region is expected to be the fastest growing market for desalination systems between 2019 and 2024.
A growing population and rapid urbanization have increased the demand for desalination systems in the region.
In addition, increase in the demand for water in the domestic sector in drought-affected areas has shifted the attention toward desalinated water, so as to alleviate water shortages, which, in turn, is expected to drive the market for desalination systems.
Countries like China and Australia have witnessed high demand for desalination systems owing to the increasing water demand from the agricultural and industrial sector.
India is expected to witness a high demand for desalination systems during the forecast period owing to factors like growing population, rapid urbanization, increase in the demand for water in drought-affected areas, coupled with an increase in government investment in water desalinization.
Hence, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
The global desalination system market is highly fragmented as the market share is divided among several companies. Some of the key players of the market include Veolia, Doosan Heavy Industries, Suez, and IDE Technologies Limited, among others.
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