PUBLISHER: DataM Intelligence | PRODUCT CODE: 1316275
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1316275
Global Desalination Market reached US$ 7.5 billion in 2022 and is expected to reach US$ 15.3 billion by 2030 growing with a CAGR of 9.3% during the forecast period 2023-2030.
The global desalination market is expected to witness continued growth as water scarcity concerns intensify. Technological advancements, including improved membranes, energy recovery systems, and innovative desalination methods, are anticipated to enhance the efficiency and cost-effectiveness of the process. Furthermore, research is underway to explore alternative energy sources and hybrid desalination systems to reduce the environmental impact and operational costs associated with desalination.
Reverse osmosis has shown the highest growth in the global desalination market covering nearly 33.3% in 2022. Many important companies are investing in reverse osmosis for desalination, mainly to develop the technology and membranes needed to desalinate water through this process.
Water-stressed regions, such as the Middle East and North Africa, have been at the forefront of desalination adoption. For instance, Egypt currently has an annual water deficit of over seven billion cubic meters. By 2025, when it is predicted that 1.8 billion people will live in absolute water shortage worldwide, climate change will likely play a significant role in the issue and the country may run out of water. Children are more vulnerable and unable to withstand shocks such as droughts and heat waves.
Therefore to overcome the growing water demand government is taking the required measures by investing in the desalination market. For instance, Egypt's cabinet has announced that Saudi Arabia's Abdul Latif Jameel Energy & Environmental Services and Hassan Allam Holding had submitted an offer to build a huge desalination plant capable of generating around 2.9 million cubic meters of water per day by 2030.
Government initiatives and policies create an enabling environment for the desalination market by fostering investment, supporting R&D, ensuring sustainable practices, and facilitating partnerships. By prioritizing water security and embracing desalination as a viable solution, governments play a pivotal role in driving the growth of the desalination market.
For instance, on March 16, 2022, According to a top official at the 3rd MENA Desalination Projects Forum 2022, which got underway at the Conrad Abu Dhabi Etihad Towers Hotel, Saudi Arabia announced more than 60 water projects totaling SR35 billion (US$9.33 billion), which will solidify the Kingdom's position as the largest water desalination market in the world.
Investors and lenders may be hesitant to provide funding due to the long-term return on investment and potential risks involved. The lack of access to affordable financing options can hinder the development of desalination projects, particularly in regions where water scarcity is most severe.
Furthermore, in addition to the initial investment, Desalination often requires ongoing maintenance, support, and regular software upgrades. These costs can be significant and may strain the budgets of organizations, especially if they lack dedicated IT resources or have limited funds allocated for technology-related expenses.
During the initial stages of the pandemic, many countries implemented lockdown measures and travel restrictions, leading to disruptions in global supply chains. This affected the procurement and transportation of essential components and materials required for desalination plants, causing delays in construction projects and equipment installations.
Furthermore, the economic uncertainty and financial constraints brought about by the pandemic led to the delay or postponement of various infrastructure projects, including desalination plants. Governments and private investors faced challenges in allocating funds and resources, diverting priorities towards immediate healthcare and relief measures.
The global desalination market is segmented based on technology, source, energy source, end-user and region.
The outdoor location is expected to show significant growth in the global desalination market. The dominance of reverse osmosis in the global desalination market is expected to continue, driven by ongoing technological advancements, increasing water demand, and the need for sustainable water supply solutions.
Many important companies are investing in reverse osmosis for desalination, mainly to develop the technology and membranes needed to desalinate water through this process. For instance, DuPont launched a new biofouling prevention solution for reverse osmosis installations on March 30, 2021, to decrease operational expenses while increasing plant uptime and dependability. DuPont intends to demonstrate innovative leadership and dedication to solving client water concerns with this new patent-pending solution.
Middle East And Africa's Rapid Population Growth, Coupled With Limited Freshwater Resources
Growing investments in various parts of the region are expected to create growth prospects for the market. The Red Sea coast, Suez, Ismailia, Port Said, Dakahlia, Kafr e-Sheikh, and North and South Sinai are among the governorates where desalination plants are expected to be situated., and the Red Sea will be the primary focus of the first phase.
The major global players include: Acciona, S.A, Fluence Corporation Limited, Doosan Heavy Industries & Construction Co Ltd, Genesis Water Technologies, Inc, DuPont, IDE Technologies Ltd, Koch Membrane Systems Inc, Lanxess AG, SUEZ Water Technologies & Solutions SA and Veolia Environnement S.A.
The global desalination market report would provide approximately 69 tables, 68 figures and 219 Pages.
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