According to a new market research report published by Credence Research “ Water Desalination Market (by Technology: Membrane Desalination (Reverse Osmosis) and Thermal Desalination (Vapor Compression, Multi-effect Desalination, and Multi-stage Flash Desalination); by Source of Water: Seawater, Brackish Water and Wastewater) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the water desalination market was valued US$ 16.4 Bn in 2017 and estimated to grow with a CAGR of 9.5% during the forecast period from 2018 to 2026.
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The demon of freshwater scarcity is proliferating at an alarming rate and projected to create tremendous tensions across the globe. According to the United Nations Office for the Coordination of Humanitarian Affairs (UN OCHA), approximately 25% of the global population encountered scarcity of fresh water in 2010. In another statement, the Organization for Economic Co-operation and Development (OECD) predicted that almost 47% of the global population expected to face water stress by 2030. In order to encounter this disastrous issue, water desalination is one of the most potent technique to supply potable water.
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Regions including Middle East, North Africa, and the Caribbean Islands are considerably dependent on water desalination for quenching their thirst for fresh water. Europe and especially Spain has a significant place on the global water desalination map. In addition, several developing countries including China, India and other industrial countries are also turning towards water desalination solutions for fresh water. With more than 15,000 desalination plants and many more to commission soon, the world projected to witness a significant eruption in water desalination market.
Earlier, conventional methods such as thermal desalination were high power consuming and less output generating methods. Efficient methods such as membrane desalination proved quite expensive courtesy to inflated prices of membranes. However, introduction of advanced manufacturing techniques and materials aided in significant reduction in the cost of reverse osmosis (RO) membrane helped in reducing expenses and energy required.
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Use of renewable energy for power is another major step of evolution for water desalination plants. Major players involved in setting up such plants are seriously considering to incorporate aforementioned advancements for better outputs and reduced expenses. With perpetual upgrading technologies and reducing prices, water desalination market projected to reach new heights throughout the forecast period from 2018 to 2026.
Water desalination market offers several prospects for companies to capitalize over these opportunities. This made market scenario fragmented and highly competitive. Besides Middle East, these companies are in a race with each other to commission their plants in different parts of world, especially in Asia Pacific. Most of the desalination companies operating are involved in other operation and by far only 50% of their revenue comes from water treatments. This presents tremendous opportunities for water treatment big shots to extend their R&D and try to acquire new contracts for set-up water desalination plants across globe. Few of the major notable players profiled in this research study include Suez SA, Befesa S.A., Valoriza Agua S.L., Acciona, S.A., Veolia Environnement S.A., Doosan Group, Fisia Italimpianti SpA, Degrémont, Acciona, S.A., Hyflux Ltd, Biwater International Limited, TEDAGUA, Wetico Ltd., Cadagua, Aqualia, and Mitsubishi Corporation among others.
Key Analysis Covered:
- Latest trends in water desalination market and growth prospects for desalination setup companies
- Shortage and perpetually increase demand for fresh water creating a positive impact on water desalination market
- Different techniques used for water desalination, their current market value, growth and market estimation throughout the forecast period 2018 to 2026
- Largest and fastest growing segments in terms of technology and water source
- Most prominent geographical regions/ countries for the water desalination market
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