The global Marine Seawater Desalination Market size is expected to reach USD 34.95 Billion in 2028 and register a CAGR of 8.9% d the forecast period, according to the latest report by Reports and Data. Some key factors driving rapid global Marine Seawater Desalination market revenue growth include increasing scarcity of water in countries across the globe, declining freshwater and groundwater, and high cost of transporting fresh water from distant sources to lean areas. Desertification and global warming coupled with pollution of water reservoirs and rivers are other major factors resulting in scarcity of fresh drinking or potable water. Desalination of seawater is one of the most common techniques used to address water needs and shortage in Middle Eastern and African countries. Increasing focus on seawater and brackish water as alternative sources of potable water is expected to drive demand for Marine Seawater Desalination during the forecast period. Reducing costs of desalination due to technological advancements of Marine Seawater Desalination is expected to contribute significantly to rising demand for and deployment by municipalities and various other end-use industries going ahead. Globally, over 300 million consumers are receiving their water from desalination plants, and this includes from the U.S. Southwest to China. Governments in various countries are collaborating with private organizations for the installation of water desalination plants, which is expected to continue to drive demand for Marine Seawater Desalination as more such initiatives are undertaken to cater to rising demand for potable water. Israel for example, has five large plants in operation, and is planning for five more to reduce chronic water shortage problems.
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Major players in the market include Acciona, S.A., Veolia Environnement S.A., SUEZ, IDE Technologies, Abengoa, S.A., Ferrovial, S.A., Doosan Heavy Industries Construction, BIWATER HOLDINGS LIMITED, Xylem Inc., and Aquatech International LLC.
Market Overview:
Consumers are placing higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had a considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and worksites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/water-desalination-equipment-market
Some Key Highlights From the Report
- In December 2020, Acciona, S.A. announced that the Saudi publicly-owned Corporation Saline Water Conversion Corporation (SWCC) awarded the company and its partner RTCC the design and construction of the Shuqaiq 1 desalination plant on the Red Sea coast in Saudi Arabia in order to minimize water shortage. Construction of the new desalination plant will cost around USD 384 million, which was awarded to the company. The desalination plant is expected to have a daily capacity of 400,000 m3/day and will be equipped with reverse osmosis technology.
- Seawater segment is expected to account for largest revenue share in the global Marine Seawater Desalination market over the forecast period. Growth in the global population and limited availability of high-quality fresh drinking water have resulted in increasing demand for seawater desalination as an alternative option to obtain fresh water.
- Reverse osmosis segment is expected to register robust revenue growth over the forecast period. The easy processing and low installation cost of reverse osmosis technology is expected to boost its demand in the Marine Seawater Desalination market during the forecast period.
- Municipal segment is expected to account for a robust revenue share in the global Marine Seawater Desalination market over the forecast period. Decline in cost of process due to the technological advancements is a key factor driving increasing demand for Marine Seawater Desalination among municipalities.
- The Marine Seawater Desalination market in Middle East Africa is expected to account for largest revenue share over the forecast period, attributed to increasing population in many water-stressed areas in the region. Countries in the Middle East are increasingly adopting desalination of sea water in order to obtain high-quality fresh water for human consumption.
For the purpose of this report, Reports and Data has segmented the global Marine Seawater Desalination market based on source, technology, application, and region:
Source Outlook (Revenue, USD Billion; 2018-2028)
- Brackish Water
- Seawater
- River Water
- Others
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Multi-Stage Flash (MSF) Distillation
- Reverse Osmosis
- Multi-Effect Distillation (MED)
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Industrial
- Municipal
- Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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