PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490093
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490093
The global water desalination market is estimated to be valued at USD 17.47 Bn in 2024 and is expected to reach USD 31.32 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 17.47 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 8.70% | 2031 Value Projection: | US$ 31.32 Bn |
The global water desalination market has been witnessing significant growth in the recent years. Water desalination refers to the process of removing salt and other minerals from saline water sources such as seawater and brackish water, thereby producing fresh water that is fit for human consumption, agriculture or other industrial applications. Growing freshwater scarcity worldwide due to increasing population, rapid urbanization, and climate change is driving the need for alternative water sources and boosting the demand for desalination. Various desalination technologies, such as reverse osmosis, multi-stage flash distillation, and multi-effect distillation, are increasingly being utilized to treat saltwater and produce potable water on a large scale. Countries in the Middle East, Asia Pacific, and North Africa have especially emerged as major markets given their limited freshwater resources and dependence on desalination for meeting rising domestic and industrial water needs. The market is anticipated to grow at an accelerated pace over the coming years.
Market Dynamics:
The global water desalination market is driven by several factors such as growing freshwater scarcity, increasing demand for freshwater from industrial and municipal applications, rapid urbanization and population growth, and positive government support through subsidies and incentives for desalination plant development. However, high energy consumption during desalination and the associated high capital and operational costs remain key challenges restricting broader adoption. On the other hand, continuous technological advancements leading to more energy-efficient desalination systems, growing reuse of treated wastewater, and increasing uptake of renewable energy to power desalination plants are expected to present lucrative growth opportunities for market players. Players are actively focusing on developing innovative and cost-effective desalination solutions to capitalize on existing demand and further propel the market outlook.
Key Features of the Study:
Detailed Segmentation-