According to Fortune Business Insights The global atmospheric water generators market share is expected to touch USD 6,214.9 million by 2027 on account of the rising demand for potable water and decline in the availability of freshwater. As per a recent report published by Fortune Business Insights. The value of this market was USD 1,940.8 million and will rise at a CAGR of 18.1% between 2020 and 2027.

The COVID-19 pandemic has left us all devastated. We are at a point of crisis where most businesses are shut temporarily, hampering the overall world economy. Some businesses are barely able to manage meagre revenue by working from homes. We however, soon hope to fight back this pandemic by following the government regulations and measures.

Drivers & Restraints-

Advent of Smart Technology into Water Generators to Add Impetus

The rise in industrialization and urbanization have led machines to overpower natural habitat. A decline in freshwater sources has been observed so as to provide more space for new buildings and recreational spaces. The decline in the level of freshwater sources, coupled with the increasing industrialization and urbanization are the key factors promoting the atmospheric water generators market growth. Besides this, the stringent regulations imposed on environment and water safety will also aid in favor of the market.

However, the rise in carbon footprint and the high requirement for power generation to suffice to the needs of all residential, commercial, and industrial sectors may pose major challenges to the market in the coming years. Nevertheless, the advent of technological innovations such as smart technology, cooling condensation wet desiccation, and others are likely to help create lucrative growth opportunities to the market in the coming years.

Source:

https://www.fortunebusinessinsights.com/atmospheric-water-generator-market-103321