Global Water Desalination Market Size is Estimated to Reach USD 43.03 billion by 2031, Growing at a CAGR of 9.12%: Straits Research

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Water Desalination Market Size, Share & Trends Analysis Report By Technology (Membrane Technology, Thermal Technology, Other Renewable Technologies), By Applications (Municipal, Industrial, Others), By Water Source (Seawater, Brackish Water, Groundwater and Surface Water) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2021-2031

New York, United States, Jan. 22, 2024 (GLOBE NEWSWIRE) — Desalination eliminates excess salts and other minerals, transforming water into usable or safe drinking water. Feedwater sources may include saltwater, brackish water, groundwater, and surface water. Brine is a byproduct of the desalination process. Desalination is considered a sustainable alternative source of freshwater with the required quality and quantity. The primary benefit of desalination is that it can provide high-quality drinking water to areas with a water shortage. As countries seek solutions to water scarcity caused by climate change, industrial development, pollution, and population growth, desalination addresses diminishing freshwater supplies. Technologies for desalination are classified as membrane, thermal, and renewable. Due to the absence of chemicals, it is also more environmentally friendly than conventional water treatment methods.

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Depleting Freshwater Resources Drives the Global Market

According to Straits Research, “The global water desalination market size was valued at USD 19.62 billion in 2022. It is estimated to reach USD 43.03 billion by 2031, growing at a CAGR of 9.12% during the forecast period (2023–2031).” The depletion of freshwater resources is one of the greatest threats to economic growth, ecosystem health, and water security on a global scale. According to the International Water Management Institute, 1.2 billion people do not have access to potable water, although freshwater is vital to human health. According to the Wildlife Federation, by 2025, two-thirds of the global population could face water shortages. Recycling and wastewater recovery have become popular in the past decade due to rising water demand. Reusing wastewater decreases the volume and environmental threat of discharged wastewater and reduces the strain on ecosystems caused by the withdrawal of fresh water. In recent years, a heightened awareness of the problems posed by pollution of aquatic environments and water scarcity has rekindled international interest in desalination systems. More stringent regulations, rising costs for wastewater disposal, and the rising value of freshwater are causing water desalination to become a useful or even necessary option for wastewater management, thereby driving market expansion.

Hybrid Desalination Process Creates Tremendous Opportunities

The hybrid desalination process combines two or more technologies to take advantage of their comparative advantages. Some hybrid systems combine systems that utilize membrane desalination or thermal distillation, or both methods. Some hybrid systems also generate electricity to supplement the production of pure water. Hybrid systems have been considered a cost-effective alternative to stand-alone systems because they can reduce pressure and stress in terms of scaling and fouling, energy consumption, and the cost of desalinated water by enhancing the recovery rate and overall water quality. Implementing hybrid systems has improved the efficiency of desalination plants by improving product water and brine quality as their applications have expanded. Recent innovations in hybrid desalination technologies have produced environmentally friendly, cost-effective, and socially beneficial desalination techniques.

Regional Analysis

The Middle East and Africa water desalination market share is expected to grow at a CAGR of 9.03% over the forecast period. The lack of freshwater resources is the primary factor in the region’s development. In addition, the rising demand for energy-efficient and cost-effective water desalination systems is anticipated to boost the water desalination market in the Middle East and Africa. In addition, growing global awareness of water pollution and rapid urbanization are expected to increase demand for water desalination systems in the region over the forecast period. In addition, the ongoing development of the water desalination industry is anticipated to drive market expansion. In addition, the rising water consumption per capita in the Middle East and Africa, coupled with the region’s growing population due to increased immigration, is anticipated to increase water demand.

Asia-Pacific is anticipated to exhibit a CAGR of 9.92% over the forecast period. The Asia-Pacific water desalination market is primarily driven by rapid urbanization and industrialization in nations such as China, India, and Japan, which has increased the demand for clean water and efficient wastewater treatment. Improving public sector investments in developing existing water and wastewater treatment systems also expands the market. In addition, environmental concerns and the limited availability of potable water have increased the use of desalination systems throughout the region. Numerous government initiatives, including establishing environmental protection laws to preserve natural water resources and the provision of adequate sanitation, are influencing the market’s growth.

Key Highlights

  • Based on technology, the global water desalination market is bifurcated into membrane technology, thermal technology, and other renewable technologies. The membrane technology segment dominates the global market and is projected to grow at a CAGR of 9.46% over the forecast period.
  • Based on application, the global water desalination market is bifurcated into municipal, industrial, and others. The municipal segment owns the highest market share and is predicted to grow at a CAGR of 9.10% over the forecast period.
  • Based on the water source, the global water desalination market is divided into seawater, brackish water, and groundwater and surface water. The seawater segment is the most significant contributor to the market and is anticipated to exhibit a CAGR of 9.16% over the forecast period.
  • The Middle East and Africa is the most significant global water desalination market shareholder and is expected to grow at a CAGR of 9.03% over the forecast period.

Competitive Players

The key global water desalination market players are ACCIONA, Doosan Heavy Industries & Construction, IDE Technologies, Suez, CleanBay Renewables, Dow, Genesis Water Technologies, Aquatech International, Evoqua Water Technologies, Koch Separation Solutions, Siemens, Veolia, and Abengoa.

Market News

  • In March 2023, Marubeni Corporation introduced a desalination and water transmission enterprise for Corporación Nacional del Cobre de Chile via a unique purpose company in which it invested alongside Transelec Holdings Rentas Limitada, a prominent Chilean power transmission company.
  • In October 2022, Hubert Enviro Care Systems P Ltd received three orders for the Operation and Maintenance of Desalination Plants in Tamil Nadu and Andhra Pradesh, totaling more than 50 crores.

Global Water Desalination Market: Segmentation

By Technology

  • Membrane Technology
  • Thermal Technology
  • Other Renewable Technologies

By Applications

  • Municipal
  • Industrial
  • Others

By Water Source

  • Seawater
  • Brackish Water
  • Groundwater and Surface Water

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Get Detailed Market Segmentation @ https://straitsresearch.com/report/water-desalination-market/segmentation

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