CMOS Image Sensors Market Size Worth $10.17 Billion By 2020

The global CMOS image sensors market size was valued at USD 7.21 billion in 2013 and is likely to be worth USD 10.17 billion by 2020. Increasing demand for handheld equipment such as tablets and smartphones has initiated the development of smart sensing approaches with remote diagnostic and monitoring capability.

Global market was 1,601.8 million units in 2013 and is anticipated to reach 2,643.4 million units, growing at a CAGR of 7.5% by from 2014 to 2020. The industry has observed tremendous growth over the past few years owing to the growth of its application industries, particularly medical and automotive. In addition, technological innovations leading to the evolution of refined sensing technology are expected to drive growth.

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Dexterity to manufacture smaller pixel devices and provide high resolution with cost effective approach is expected to be one of the primary factors driving growth. Rising demand for computation and communication equipment has led to a growing need to develop upgraded processes for better optical administration. The requirement for on-chip integration and focal plane processing are still on improvement phase.

Consumer electronics was the largest application accounting for over 50% of the total market revenue in 2013. These sensors are widely used in numerous consumer electronic devices including entertainment devices, home appliances, communication products, and information technology. The CMOS image sensors market for consumer electronics is likely to grow at a CAGR of 3.3% from 2014 to 2020.

With an increasing focus on research & development, sensing equipments have become smaller, cheaper, and more power-efficient, which serves as a gratifying opportunity for industry players. This is particularly beneficial to the healthcare industry as these products help in improving diagnostics and provide appropriate treatments that rely on this technology. Medical applications are anticipated to grow at a CAGR of 9.9% from 2014 to 2020.

Multimedia-enabled equipment provides more benefits with more data safety over the internet. The application of sensing devices for indoor navigation, health monitoring, and related niche segments is anticipated to offer prominent growth opportunity for prosperity of this market. These gadgets are predominantly used in the U.S., however, the market is anticipated to witness significant gains in emerging economies such as China, India, and Brazil.

North America CMOS image sensors market exceeded 30% of the total revenue share in 2013. Focus on technological advancement coupled with high adoption rate of new technologies and gadgets have resulted in established of a large market in the region. However, the market has reached its maturity phase and is anticipated to grow at a CAGR of 4.1% from 2014 to 2020.

Asia Pacific is expected to witness significant gains over the forecast period at a CAGR of 6.6% from 2014 to 2020. The market was valued at USD 2.37 billion in 2012. Availability of large number of semiconductor manufacturers in Asia Pacific, especially in Japan, China and Korea, is projected to bolster market growth in this region. Presence of cheap labor and establishment of production facilities by foreign organizations are anticipated to favorably affect industry growth in this region. Growing demand for latest gadgets owing to increase in disposable income of consumers is anticipated boost market growth to reach an estimated value of USD 3.95 billion by 2020.

Key players include OmniVision Technologies, Sony Corporation, Canon Inc., and Samsung Electronics. Sony Corporation and Samsung Electronics are projected to dominate the CMOS image sensors market in the near future. Companies are constantly engaging in research & development to introduce innovative products in the market.

Samsung Electronics Co. Ltd. has announced its new 8-megapixel R-W-B sensing device based on ISOCELL and NFC integrated circuit technology with advanced frequency performance.In March 2015, OmniVision Technologies Inc. launched the OV8865, a CMOS image sensor positioned on OmniBSI-2 pixel planning. It is utilized in high speed photography with low power consumption application. Samsung Electronics Co. Ltd. introduced a 280-megapixel APC-C image sensor, which employs advanced 65-nanometer and illuminated pixel technology to implement energy-efficiency and better picture aspect.

Gas Sensor Market Size Worth $4.10 Billion By 2027

The global gas sensor market size is anticipated to reach USD 4.10 billion by 2027, registering a CAGR of 8.3% from 2020 to 2027, according to a new report by Grand View Research, Inc. Factors such as increased demand for smart and wireless gas sensors and regulatory initiatives in developed markets of North America and Europe have propelled the adoption of gas sensors. The introduction of embedded electronics, coupled with sophisticated firmware and improved manufacturing techniques, has enabled developments in gas detection technologies.

A gas sensor is a device that detects the presence of gases in a particular area and is often integrated into a safety system. These sensors consume low power and can be integrated into portable handheld devices, which is expected to create opportunities for market growth.Technological developments, such as enhancement of Microelectromechanical Systems (MEMS) sensors, and need for hydrogen detection on account of its use as a fuel are also expected to contribute to the growth.

The increased adoption of gas sensors can be attributed to the high need for safety in the industrial sector such as oil and gas, power generation, and manufacturing.For instance, theOccupational Safety and Health Administration under the U.S. Department of Labor has implemented the Health and Safety at Work Act, which requires industrial facilities to install gas sensors for monitoring the emission levels and air quality among industries. In addition, implementation of advanced wireless sensor technologies with mesh network in industries is further creating opportunities for the market growth. The infrared technology segment is anticipated to witness substantial growth as it enables the measurement of a wide variety of gases including methane, carbon dioxide, and Volatile Organic Compounds (VOC) such as acetylene, benzene, and butane. This is anticipated to further fuel the market growth.

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Further key findings from the report suggest:

The demand for gas sensors has increased over the years owing to their reliability in performance, real-time monitoring, and cost effectiveness
The demand for oxygen sensors is expected to be supported by the improved precision, decreasing per unit cost of sensors, and growing applications across end-use industries
The wired segment dominates the gas sensor market owing to the cost-effectiveness and accuracy. However, the demand for wireless segment is expected to witness significant over the forecast period, owing to the less complexity and easy accessibility
The high demand for electrochemical sensor can be attributed to their use in applications such as indoor air quality detection, emission control, and landfill gas detection
The U.S. government is investing considerable amount of monetary and non-monetary resources to encourage the adoption of gas sensors across various sectors and carry out initiatives such as smart cities
Stringent safety regulations to protect workers from hazardous gases in industries are boosting the market growth
Key market players include AlphaSense, City Technology Ltd.,Dynament Ltd., Figaro Engineering, Membrapor AG, Nemoto & Co., Ltd., Robert Bosch LLC., ABB Ltd., Siemens AG, and GfG Europe Ltd

Flexible Electronics Market Worth $87.21 Billion By 2024

The global flexible electronics market was USD 20,850.0 million in 2015, which is estimated to reach USD 87,210.0 million by 2024, according to a new report by Grand View Research, Inc. Escalating demand for compact and light-weight electronic devices is anticipated to fuel growth over the forecast period. Flexible batteries, displays, memories are a few products realized with the adoption of this technology. The technology provides ample opportunities in the area of smart textiles, which is the future of wearables. Government support in the form of funding that lends a helping hand to several research projects in this field is also anticipated to impact the industry growth positively.

Healthy demand for smart glasses, e-books, smartphones, smartwatches, and e-papers is expected to catapult market growth over the next eight years. The technology facilitates electronic systems to be stretched, rolled, and flexed, minimizing design issues associated while developing compact, portable and miniature devices. The style and functionality of wearable devices are anticipated to witness a transition over the next eight years with companies such as Samsung, Apple, Nike, and Google investing heavily in this segment, thereby providing avenues for discovering novel applications incorporating this technology.

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Further key findings from the report suggest:

The consumer electronics segment accounted for over 55% of the overall revenue in 2015. The year 2014 witnessed the onset of new curved televisions, smartphones, and other electronic devices; a trend that gained traction in 2015, and is expected to impact the flexible electronics demand favorably from 2016 to 2024 owing to high penetration in the wearable’s segment
The display segment is projected to grow at a CAGR exceeding 16% over the forecast period. It is primarily attributed to the ability of these products to curve, roll, flex, conform, and fold, enabling a new intuitive user interface. Further, companies are progressing towards the use of plastic displays as an alternative to glass displays, which provides an opportunity for future growth
Wearable devices segment accounted for over 40% of the overall revenue in 2015 and is expected to witness a healthy demand over the forecast period. This increase is primarily ascribed to an upsurge in demand for fitness or activity trackers as these products are well-positioned in the market with a promise of tracking productivity, physical activity, heart rate, sleep, etc. that intrigues customers
Asia Pacific flexible electronics market accounted for over 20% of the overall revenue share in 2015. Research capabilities and aggressive investments by major industry players such as LG and Samsung Electronics in anticipated to drive the regional growth over the forecast period
Prominent industry participants include 3M, E Ink Holdings Inc., GE Measurement & Control Solutions, ITN Energy Systems Inc., LG, PARC, Samsung, and Thinfilm Electronics ASA. Strategic alliances among the major stakeholders such as material manufacturers, academia, and device integrators are anticipated to strengthen the existing technology know-how while driving drive efforts to explore new application areas

Microcontroller Market Size Worth $47.7 Billion By 2027

The global microcontroller market size is predicted to attain USD 47.74 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 10.8% over the forecast period, owing to the increasing focus on automation and Artificial Intelligence (AI) across various verticals such as automotive and industrial. Globally, more than 30 billion Microcontroller Units (MUCs) were shipped in 2019. Increasing demand for embedded control systems in multifunctional devices, such as vehicles, robots, medical devices, mobile radio, and residential appliances, is also playing a principal role in driving the market. The growing use of consumer electronics in day to day lives is anticipated to drive the need devices with higher performance and greater functionalities. Microcontrollers would play a crucial role in the development of such devices leading to the market growth.

Rising need for agility and flexibility in the industrial ecosystem due to the reducing product lifecycles is expected to further spur the demand for MCUs. The consumer electronics segment has also witnessed a significant growth owing to innovative technological developments such as wireless sensing and connectivity, automation, along with the emergence of Internet of Things (IoT) ecosystems in homes. Many market players are developing products with state-of-the-art architecture to make them compatible with such devices. Miniaturization of microcontrollers and the delivery of high performance with extremely low power usage are some of the key advantages offered by some of the new microcontroller units.

Rising demand for devices supporting Ethernet and IoT is also expected to impact the demand for microcontrollers over the forecast period favorably. The demand for MCUs integrated with wireless interfaces, such as ZigBee, microcontrollers, and Bluetooth, has witnessed a considerable rise. Furthermore, the rising need for wireless sensor-based networks for the controlling and monitoring of systems has enhanced the interest of companies in implementing a combination of low-cost systems. Increasing focus on the implementation of energy-efficient solutions for both discrete and process industries is anticipated to propel sustainable manufacturing in industrial automation for a more efficient process. Flexible production and asset management would also influence the factory integration, offering high potential for automation and customized solutions among industrial applications.

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Further key findings from the study suggest:

The 32-bit microcontroller is anticipated to emerge as the fastest-growing product segment over the forecast period, owing to its ability to offer high computational power. Technological developments in the production of semi-autonomous and fully autonomous driving systems also require 32-bit microcontrollers, thus driving the growth of the product segment
The automotive application segment dominated the global market in 2019 and is estimated to witness a CAGR exceeding 11% over the forecast period. Increasing demand for enhanced safety features, convenience functions, and entertainment systems, along with government regulations on emission control are driving the segment growth
North America is expected to maintain its dominance over the forecast period. The use of microcontrollers for smart energy management and photovoltaic systems is expected to be the significant factor contributing to the regional growth
Asia Pacific microcontroller market is anticipated to witness substantial growth over the forecast period, owing to the rapidly growing consumer electronics sectors, as well as the presence of major market players, such as Yamaichi Electronics Co., Ltd and Fujitsu Semiconductor Limited
Factors such as the Brexit and U.S.-China trade war have led to declining market conditions. New American tariffs on Chinese goods and slowdown in the Chinese economy are the major factors affecting the steady growth of the market
Key market players include Infineon Technologies AG; Microchip Technology Inc.; NXP Semiconductor; Renesas Electronics Corporation; STMicroelectronics; and Texas Instruments Incorporated

Video Surveillance & VSaaS Market Size Worth $48.95 Billion By 2020

The Global video surveillance & VSaaS market size is expected to reach USD 48.95 billion by 2020, according to a new study by Grand View Research, Inc. Growing number of security concerns on a global level coupled with increased investment in sophisticated surveillance network development is expected to drive the market. Increased demand for traffic surveillance and intrusion detection is also expected to propel market growth over the next six years.

Technological advancement has led to the development of improved surveillance cameras and related devices. Declining IT costs and centralized data management are expected to positively impact the video surveillance & VSaaS market. Privacy concerns associated with public surveillance may restrain the market growth. Implementing big data analytics solutions is expected to provide viable growth opportunities to companies operating in the market. Mobile video surveillance allows real-time data viewing, which presents growth potential to the video surveillance market.

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Further Key Findings from the Report Suggest:

IP-based systems are expected to gain market share over the forecast period, which can be attributed to benefits such as superior image resolution and integrated analytics engines. The demand for analog systems is expected to remain robust in the price-sensitive consumer segment.
Hardware accounted for the majority of the market share in 2013 and is expected to remain the leading component segment over the forecast period. Key hardware products include cameras, recorders, and storage devices; the need for efficient security in public venues and sporting events is expected to drive global surveillance cameras demand. The services segment that includes hosted, managed and hybrid services is expected to witness high growth over the next six years.
Transportation and retail are expected to remain the major application segments over the forecast period. The need for traffic regulation and controlling theft and vandalism activities in public transport are expected to drive market growth. Video surveillance proves effective for deterring crime and curbing business losses, which is expected to fuel the retail segment.
North America was the largest regional market in 2013 and is characterized by the presence of several industry participants. Asia Pacific is expected to gain market share over the forecast period; this is mainly due to the growing installation of surveillance devices in China and India, along with increased infrastructure spending in the region.
Key market players include Hikvision Digital Technology, Axis Communications, Honeywell, Cisco, Bosch Security, etc. Companies enter into strategic alliances and focus on product innovation in order to gain market share. Focus on providing VSaaS solutions and investing in emerging markets are other strategic initiatives.

Air Conditioning Systems Market Worth $195.65 Billion By 2025

The global air conditioning systems market size is expected to reach USD 195.65 billion by 2025, registering a CAGR of 9.9% from 2019 to 2025 according to a study conducted by Grand View Research, Inc. Factors such as increasing international tourism, growing consumer spending on home improvement, and introduction of energy-efficient systems, coupled with the rising popularity of green cooling concepts, are expected to drive the market growth over the forecast period.

Global events usually pave the way for extensive construction projects, such as the establishment of new buildings and improvement of existing infrastructure. These projects aim at accommodating and catering to the needs of international tourists & visitors or working professionals and providing them enhanced facilities. For instance, the 2020 Summer Olympics event, expected to be held in Tokyo, is expected to drive the construction and development of ample commercial, residential, and lodging spaces in the city before the event commences. Similarly, in Dubai, the government is expected to make significant investments in infrastructure development to accommodate the large number of visitors expected to be attending the Expo 2020, a universal exposition. This, in turn, is creating an increased demand for air conditioners.

The competitive landscape of the market is highly consolidated and characterized by high competition with the presence of key players such as Carrier Corporation, Haier Inc., Electrolux, Ingersoll-Rand plc, and DAIKIN INDUSTRIES, LTD. These players are engaged in mergers and acquisitions to enhance their market presence. For instance, in January 2018, Ingersoll Rand plc and Mitsubishi Electric Corporation signed a contract to create a joint venture to enhance the marketing, sales, and distribution of VRF and ductless heating and air conditioning systems. Under the partnership, the companies will distribute their products under the American Standard and Trane brands using the latter’s corporate logo and the former’s distribution channels.

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Further key findings from the report suggest:

The Packaged Terminal Air Conditioners (PTAC) segment is expected to register a CAGR of over 4.0% from 2019 to 2025 in terms of volume. This growth of the segment can be attributed to their increasing adoption in hospitality and residential sectors
In terms of technology, the inverter segment is expected to experience significant growth over the forecast period owing to its ability to control the speed of the compressor motor, which helps in continuous regulation of temperature. This variable speed compressor helps in saving 50% more energy and power as compared to non-inverter air conditioners
The commercial end-use segment accounted for nearly 20% of the overall market share in 2018. The segment is also anticipated to witness substantial growth over the forecast period owing to the rapid industrialization in various North American and European countries
The air conditioning systems market for North America is expected to exhibit a CAGR of over 6% from 2019 to 2025 in terms of revenue. With high penetration of air conditioners in developed economies such as the U.S., the region is expected to experience growth owing to increasing demand for replacement and refurbishment of existing systems.

3D Printing Market Worth $35.38 Billion By 2027

The global 3D printing market size is estimated to reach USD 35.38 billion by 2027, according to the new report by Grand View Research, Inc. It is expected to witness a CAGR of 14.6% over the forecast period. 3D Printing (3DP) is also referred to as Additive Manufacturing (AM), as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.

3D printing is widely adopted in the industrial sector owing to the growing need for enhanced product manufacturing and a shorter time to market. The industrial vertical happens to be the most significant adopter of the 3DP technology and eventually leading to the highest market share of 3D printers for industrial applications over the forecast period. The additive manufacturing is anticipated to evolve with rising R&D and technological advancements.

3D printing continues to gain popularity among hobbyists and innovators. While individuals are using the technology for domestic and personal purposes, universities and educational institutes are using 3DP for conducting technical training. The market is subject to witness a considerable economical appearance rather than being just a labor-intensive industrial manufacturing technique. Particularly in developing economies, such as Brazil, South Africa, and India; machining shops have managed to adopt alternative business models by installing 3D printers and offer related services, such as 3DP materials, software, filaments, and 3D modeling.

Based on application, the 3D printing market has been segmented further into prototyping, tooling, and functional parts. Automotive, healthcare, and aerospace and defense verticals are among the leading adopters of 3D printing technology. Incumbents of these verticals have an emphasis on accuracy, enhanced product designing, reliability, shorter time to market, and economical production processes. Given that the additive manufacturing possess can offer all these benefits, the adoption of three-dimensional printers by the automotive, healthcare, and aerospace and defense verticals is expected to gain traction over the forecast period.

The 3D printing and related technologies are evolving continuously in line with the intensive R&D activities being undertaken and the aggressive investments being made by the private sector as well as the public sector. Government funding and encouraging initiatives being undertaken in developed economies are prompting manufacturers to pursue improvements in technology and the adoption of new technologies.

North America accounted for the largest market share of more than 35% in 2019 as a result of the extensive adoption of 3D printers for 3D designing, modeling, and manufacturing in various industries. On the other hand, Asia Pacific has emerged as a manufacturing hub owing to an expanding consumer base as well as the continued rise in foreign investments. Hence, the regional market is expected to witness remarkable growth over the forecast period.

The 3D printing technology happens to be a capital-intensive technology. At the same time, manufacturers are holding to their misconception about prototyping rather than realizing the advantages associated with 3D printing. Moreover, the market lacks the standard process controls and a skilled workforce required for 3D printing. These are some of the factors expected to restrain the market growth. However, government initiatives aimed at increasing the awareness and promoting the benefits of adopting 3D printers are expected to help counter the market restraints.

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https://www.grandviewresearch.com/industry-analysis/3d-printing-industry-analysis

Further key findings from the report suggest:

3D printing technology is gaining traction owing to the ability of the technology to offer accurate and rapid prototyping and optimize the time to market
Increasing adoption of 3D printers in healthcare, automotive, and consumer electronics verticals is likely to drive the market growth significantly
Demand for desktop 3D printers is expected to increase over the forecast period, as 3D printing is gaining popularity among hobbyists for domestic, household, and personal usage as well as in education sector for training purposes
Prototyping segment dominated the market in 2019 and is expected to expand its market share to more than 50% by 2027.
The polymer segment contributed to almost half of the entire industry share. However, the metal segment is expected to dominate the market in the next seven years. This is attributed to the increasing demand for metal 3D printing from industrial verticals such as automotive and aerospace & defense
The desktop 3D printing segment is expected to adopt the 3DP technique aggressively over the forecast period. It has been segmented further into educational purpose, fashion and jewelry, objects, dental, food, and others
Asia Pacific 3D printing market, which is emerging as a manufacturing hub for several industry verticals, is anticipated to grow significantly as the continued urbanization triggers the need for infrastructure and prompts the automotive, consumer electronics, aerospace and defense, and healthcare verticals to adopt 3DP, particularly in countries, including China, Japan, and South Korea
The prominent players in the market include Stratasys Ltd.; 3D Systems, Inc.; 3D Ceram; GE Additive; HP Inc.; Tiertime; EnvisionTec, Inc.; and Dassault Systemes

Chillers Market Size Worth $13.9 Billion By 2027

The global chillers market size is expected to reach USD 13.99 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% over the forecast period. Rising demand for efficient HVAC and refrigeration systems in newly constructed structures to maintain the increasing internal temperature is expected to drive the market over the forecast period.

Chillers are used in various industries, including plastics, food & beverage, printing, medical, electronics, petrochemical, pharmaceutical, and power plants to provide cooling. Increasing adoption of chillers in manufacturing facilities, residential structures, hospitals, restaurants, and sporting arenas, among others is expected to positively impact the product demand.

The demand for HVAC systems for cooling and dehumidifying the buildings is witnessing significant growth over the past few years on account of the rising atmospheric temperatures, attributed to global warming. Furthermore, the ability of the chillers to efficiently transfer heat from the internal environment to the external atmosphere is expected to support market growth.

Lockdown imposed to curb the spread of COVID-19 coupled with low GDP growth in various economies has resulted in dampening the construction activities globally. Furthermore, the closure of end-user facilities, including various production facilities and commercial buildings, has hampered the demand for repair & maintenance and aftermarket sales of the product.

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https://www.grandviewresearch.com/industry-analysis/chillers-market

Further key findings from the report suggest:

The air-cooled segment is expected to witness the fastest CAGR of 4.8% from 2020 to 2027, in terms of revenue, on account of low initial and maintenance costs of these systems due to the simple construction and design
The centrifugal chillers segment is estimated to witness a CAGR of 4.0%, in terms of revenue, from 2020 to 2027, due to increasing adoption of these systems in commercial and industrial buildings for cooling medium to large loads
The medical & pharmaceutical sector accounted for a major share of the global industrial application segment in 2019, due to high product usage in CT scanners, MRI systems, blood cooling systems, electron & laser microscope, and precision laboratory applications
The product demand in Italy is estimated to reach USD 728.1 million by 2027 owing to the positive growth of retail, tourism, and manufacturing industries coupled with increasing investments in the construction industry in the country
Major industry participants are focusing on licensing agreements, new product launches, and mergers & acquisitions to obtain a competitive edge and strengthen the market position

Guar Gum Market Size Worth $785.2 Million By 2025

The global guar gum market size is expected to reach USD 785.2 million by 2025, according to a new report by Grand View Research, Inc. The global market is projected to expand at a CAGR of 4.4% during the forecast period. Increasing use of guar gum for horizontal oil well drilling and hydraulic fracturing in the shale gas and oil industry is presumed to be the primary factor for market growth.

Increasing purchasing power of buyers owing to rising per capita income is expected to result in increased consumption of processed food. In addition, the growing urban population and preference for convenience food by time-constraint consumers is expected to escalate the growth of the food processing industry, consequently driving demand for guar gum.

Production and demand are key factors influencing the price of raw material with changes in consumption trends of consumer industries, resulting in price fluctuations. The amount of rainfall during the monsoon determines raw material supply for the product. High fluctuation in prices with no minimum price guarantee may hamper the market growth.

The industry faces a rising threat of substitution, owing to the availability of cheaper substitutes such as xanthan gum, locust bean gum, and other synthetic alternatives. However, the threat of substitution is expected to remain moderate as synthetic alternatives are not preferred due to environmental risks and uncertain performance efficiency.

The market is concentrated in Asia Pacific, especially India and Pakistan. Majority of companies in this market operate their businesses on a small scale. Companies that cater to international markets, especially the U.S., China, Europe, and Saudi Arabia, usually opt for direct distribution in order to increase their profit margin.

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Further key findings from the report suggest:

Industrial grade guar gum is expected to register a high revenue-based CAGR of 5.3% from 2018 to 2025 owing to its widespread usage in the paper, textile, mining, and explosives industries
Thickening and gelling agent is estimated to be the fastest-growing function segment by revenue, registering a CAGR of 5.0% from 2018 to 2025, owing to its rising use in food, pharmaceutical, and oil and gas industries
Oil and gas industry is the largest application segment, which stood at USD 208.2 million in 2017, due to a booming U.S. shale gas and oil industry
Product demand in North America is expected to value USD 415.2 million by 2025 on account of growing exploration and production activities in the U.S. and Canada
The market exhibits presence a number of small-scale manufacturers, primarily located in India and Pakistan. Major companies in the market focus on mergers and acquisitions in order to expand their business. However, they face competition from small players in terms of product prices.

Atmospheric Water Generator Market Worth $8.9 Billion By 2027

The global atmospheric water generator market size is expected to reach USD 8.9 billion by 2027, expanding at a CAGR of 19.5%, according to a new report by Grand View Research, Inc. Increasing consumer demand for atmospheric water generator (AWG) in industrial and commercial applications is expected to drive the market.

Moreover, depleting freshwater reserves, particularly in Asia Pacific and Latin America region is anticipated to further propel market growth. Furthermore, various characteristics offered by AWGs such as high purity water output, and easy transport are expected to drive their demand in military applications over the forecast period.

Growing demand for AWGs to replace traditional supply units such as water pipelines, especially at industrial and commercial workplaces, is likely to open new avenues for the industry over the forecast period. However, high capital cost and energy consumption associated with the product are expected to hinder market growth.

The water output offered by AWGs primarily depends on the humidity and temperature of the surrounding environment, which affects the performance efficiency of the system. Product innovations to reduce the cost and improve its efficiency are expected to propel the AWG market over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/global-atmospheric-water-generator-market

Further key findings from the study suggest:

Cooling condensation accounted for 98.9% revenue share in 2019 on account of its high output coupled with less complex mechanism when compared to wet desiccation technique
The residential application segment, in terms of revenue, is expected to witness a CAGR of 16.7% from 2020 to 2027 owing to rising disposable incomes coupled with product innovations is expected to drive the demand for AWGs in the segment
The product demand in Latin America, in terms of volume, is likely to witness a CAGR of 17.7% owing to depleting freshwater resources coupled with uneven geographical distribution of freshwater resources, and inadequate water supply infrastructure
The product demand in India is anticipated to reach USD 302.9 million by 2027 owing to the rapid industrial growth coupled with increasing construction and manufacturing activities in the country
In January 2020, Energy and Water Development Corp., (EAWD) sold its self-sufficient energy supply AWG system to a Mexican company engaged in manufacturing bottled water.