The global solar water desalination plant market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing shortage of water across the world, and increasing innovation with solar technology. Desalination of water is the process of obtaining freshwater from saline water, majorly the sea water. This is done to overcome the shortage of water in various regions of the world. The rising issue of water scarcity is estimated to drive the market growth. According to the report by United Nations (UN), around 4 billion people, which is almost two-third of the global population, live in water scarcity. Moreover, 700 million people are approaching this situation. However, the use of fossil fuels for desalination contaminated the water bodies, and polluted the environment, which is why, solar water desalination plants are being adopted widely. Solar plants are effective, environment friendly, and cost effective, which is estimated to boost the market growth.
The market is segmented by process into distillation, reverse osmosis, and others, out of which, the distillation segment is anticipated to hold the notable share in the market over the forecast period owing to the higher feasibility of utilizing this process to obtain large quantity of water. For distillation, water is evaporated using the heat of the sun, and then condensed and collected to obtain freshwater. The growing adoption of solar water desalination plants are estimated to boost the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
Global Solar Water Desalination Plant Market Regional Synopsis
On the basis of geographical analysis, the global solar water desalination plant market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Middle East and Africa region is estimated to witness noteworthy growth over the forecast period on the back of high dependence on desalination of ocean water to fulfill the water demand. Saudi Arabia is the biggest consumer of desalinated water. Moreover, the abundance of sunlight in the region is anticipated to boost the market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing adoption of water desalination in the countries, such as, United States, and Canada. The waste water is desalinated in the US for domestic and industrial purposes, which is estimated to boost the market growth.
The global solar water desalination plant market is further classified on the basis of region as follows:
Our in-depth analysis of the global solar water desalination plant market includes the following segments:
The technology of using solar energy for water desalination was invented by the scientists of MIT and China. Trunz Water Systems AG, Solar Water Solutions Oy, and Elemental Water Makers B.V., are some of the major market players currently dominating the market. However, companies, such as, Tesla Inc., are estimated to invest in this technology. The market is open for new players, and is estimated to provide major growth opportunities in the upcoming years.
FREQUENTLY ASKED QUESTIONS
The growing global water shortage and increasing adoption of desalinated water is estimated to boost the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2030.
The negative effects of desalination on water bodies are estimated to hamper the market growth.
The market in the North America region is estimated to gain largest market share over the forecast period, owing to the increasing application of desalination of waste water to use it for residential and industrial purposes.
The major players in the market are Trunz Water Systems AG, Solar Water Solutions Oy, Elemental Water Makers B.V., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by process, application, and by region.
The industrial segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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