The desalination market is expected to grow by USD 8.07 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters “ with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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By 2050, the global population is estimated to reach 9.73 billion, and 70% of this growth is expected to come from urban areas. The growing population coupled with changing dietary habits have increased the use of freshwater. Freshwater is also used in the agriculture sector and several industrial processes such as solvent processing, steam generation, and heating and cooling systems. With the growing scarcity of available freshwater, industries and organizations are required to treat and recycle wastewater before discharging. Also, several coastal communities and cities are increasing their dependency on seawater to meet their drinking water requirements. Many such factors have increased the demand for desalination to meet the growing demand for freshwater for various domestic, industrial, and agricultural purposes, which is fueling the market growth.
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As per Technavio, the increase in demand for membrane technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Desalination Market: Increase in Demand for Membrane Technology
Membrane technology is considered as the most efficient and green technology for the desalination of water. Membrane technologies such as RO are significantly becoming popular among end-users due to their minimal use of water and low installation and maintenance costs. Also, they offer high-degree output with a minimum level of water input. Many such advantages are increasing the demand for membrane technology compared to other filtration techniques such as MED and MSF. Therefore, the rising demand for membrane technology is expected to have a positive impact on the growth of the global desalination market during the forecast period.
Changing climatic conditions and increased investments in desalination plants will further boost market growth during the forecast period, says a senior analyst at Technavio.
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Desalination Market: Segmentation Analysis
This market research report segments the desalination market by technology (membrane and thermal) and geography (MEA, APAC, North America, Europe, and South America).
The MEA region led the desalination market in 2019, followed by APAC, North America, Europe, and South America respectively. During the forecast period, MEA is expected to register the highest incremental growth due to the presence of numerous countries with insufficient water resources in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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